Pivoting to low carbon

BP has continued its new strategy to reshape its business, or as the company describes it “pivots” way from being an international oil to a wider energy company with a deal with Microsoft.

BP sees renewables as the fastest growing form of energy, and its 2020 edition of its Energy Outlook explores several scenarios, but the direction of travel is clear with the share of hydrocarbons in primary energy declining from around 85 per cent in ‎‎2018 to between 65-20 per cent by 2050 and renewable energy rising to 20-60 per cent‎.‎ Oil would therefore be past its ‘peak’ as the world moves toward a more sustainable future.

As part of BP’s transformation it has signed a deal with Microsoft form strategic partnership to develop new technology innovations to help meet their sustainability aims, including agreement to supply Microsoft with renewable energy to help meet the company’s 2025 renewable energy goals.

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