Our strategy at work

In 2025, we formed JERA Nex bp, now, one of the five largest global developers. It is set to have a balanced mix of operating assets and development projects with a total of 13GW potential net generating capacity.

Our Fischer Tropsch (FT) CANS™ technology, co-developed with Johnson Matthey, enables the production of synthetic kerosene from various feedstocks, such as waste biomass, which can be blended with conventional jet fuel to create sustainable aviation fuel (SAF).

The technology has been chosen for use at the proposed FT SAF-producing plant in Louisiana, planned to be the world’s largest.

FT CANS™ also won the best catalyst technology category at the Gulf Energy Information Excellence Awards.

bp’s seismic technology is helping us to increase reserves, manage reservoirs, improve well planning and manage production.

Today, the seismic data we are using is better quality, it’s quicker to acquire and there’s more detail than previously.

bp is harnessing the power of AI to help boost our operations, solve challenges and improve productivity.

For example:

• Our generative AI Wells Assistant platform gives our teams access to 100 years of bp data, providing quick answers to nearly any query about wells, saving thousands of hours.

• bp-developed Optimization Genie helps to uncover opportunities to boost oil and gas production. At the Atlantis hub in the Gulf of America, it’s contributed to increases of ~2,000 barrels per day.

As part of our strategy to focus our downstream portfolio, bp has agreed to sell our Netherlands mobility and convenience (M&C) and bp pulse businesses to Dutch energy company Catom. The deal includes ~300 retail sites, 15 EV hubs, and the associated fleet business.

In Austria, we announced plans to divest our M&C operations, including >260 retail sites, EV infrastructure and its stake in the Linz fuel terminal.

Both support our $20bn divestment programme.

bp has opened its first EV charging and convenience hub in the UK.

At a bp site in Hammersmith, London, fuel was replaced with five ultra-fast bp pulse 300kW chargers, each capable of charging two cars simultaneously.

A redesigned convenience store, with an upgraded wildbean cafe and M&S Food store, caters for EV drivers and customers on the go.

This all-electric charging hub at bp Cromwell Road is part of our broader strategy to evolve our mobility and convenience network across the UK.

bp is carrying out a strategic review of its Castrol business, a leading and trusted global lubricants brand.

Castrol markets premium products in more than 150 countries, serving customers and consumers in the automotive, marine, industrial and energy sectors.

The strategic review will consider all options with a focus on value creation. Proceeds from any potential transaction that may arise as a result of the review will be allocated to strengthening bp’s balance sheet.

We are growing our oil and gas production, including in the Gulf of America and Azerbaijan.

In the Gulf of America, we have made progress on our 6th operated hub. Kaskida is expected to have the capacity to produce 80,000 barrels of crude oil per day, and to start production in 2029.

We also recently gave the go ahead for Tiber-Guadalupe, which will be our 7th operated hub in the Gulf of America. Production is expected to start in 2030 and have capacity of 80,000 barrels of oil per day.

In 2025, we made 12 new discoveries, including our largest in 25 years in Brazil.

Other discoveries took place in Egypt, Trinidad and Tobago, the Gulf of America, and more. These are part of a programme to drill around 40 wells over the next three years.

Our head of subsurface, Ariel Flores, shares how the team’s discoveries and partnerships are helping to grow production and value. Read more.