While working on tackling the energy trilemma, BP, a UK-headquartered energy giant, has been growing its renewables portfolio to support the energy transition while continuing to develop hydrocarbon projects that help strengthen energy security. As a result, three big projects are on track to start up next year.

Based on the common themes identified across the scenarios in the BP Energy Outlook 2022, oil and natural gas can be expected to continue to play “a critical role in the energy mix for decades, but in lower volumes as society gradually reduces its reliance on fossil fuels.” During 2022, BP claims that it has accelerated its aim to reduce operational emissions by 50 per cent by 2030, compared with an aim of 30-35 per cent previously, on the way to reaching its ambition of net-zero operations by 2050 or sooner.