We believe the world wants and needs a better and more balanced energy system that delivers secure, affordable and lower-carbon energy.
We’re playing our part by investing in today’s energy system, which is mainly oil and gas – and, not or – in our transition and the energy transition.
While today we’re mostly in oil and gas, we increased the proportion of our global annual investment that went into our lower carbon & other transition businesses from around 3% in 2019 to around 23% in 2023.
Increasing investment in these engines is a sign that bp’s wider transformation is underway.
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