BP’s long-term recovery will be linked to their ‘Energy Transition’ strategy

With the combination of a new CEO, a shift to renewable energy, significant investment in innovation and a commitment to carbon neutrality by 2050, BP (BP) is shaping itself to be the energy company of the future.

BP extracts oil globally in many countries of the world, refines the oil and sells it through company owned petrol stations. It is a vertically integrated, end to end hydrocarbon business at the heart of global oil and the largest petrol retailer in the UK. As its core business is under attack from governments’ green agendas combined with changing consumer attitudes, it is wisely shifting its strategy to adapt to ‘energy transition’, a phrase widely used within the company itself.

BP’s strategy has three broad planks:
• Investment in renewable energy

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