BP is planning to set up a large-scale green hydrogen production plant in northeast England, generated with wind, water and solar energy to aid Britain’s move away from fossil fuels. The project, namely, HyGreen Teesside, seeks to produce 60 MW of green hydrogen from renewable sources by 2025.
Read More
BP has struck an exclusive consultancy deal with Quaybridge, a UK-based renewables consultancy with experience in offshore wind, as part of its efforts to expand its renewables business. The two will collaborate to advance BP’s worldwide offshore wind portfolio as part of its zero-carbon growth goal.
Read More
BP has agreed to join Statkraft and Aker Offshore Wind in a consortium bidding to develop offshore wind energy in Norway. The partnership – in which BP, Statkraft and Aker Offshore Wind will each hold a 33.3 per cent share – will pursue a bid to develop offshore wind power in the Sørlige Nordsjø II (SN2) licence area.
Read More
BP Plc has announced that it is set to acquire a 9 GW solar project pipeline in the US from developer 7X Energy Inc. The asset will be developed by BP’s joint venture Lightsource bp. BP will buy the project portfolio together with 1 GW of “safe harbour” equipment for $180 million. The purchase is expected to be completed within the next 30 days.The projects will be located across 12 states with the greatest concentrations in Texas and the Midwest. Schemes totaling 2.2 GW are expected to reach a final investment decision by 2025, with the balance progressing by 2030.
Read More
bp has proposed a large blue hydrogen production facility with a targeted capacity of 1 GW by 2030. The project, H2Teesside, would capture and send for storage up to two million tonnes of carbon dioxide per year. The project would be located in Teesside in north-east England which is in close proximity to North Sea storage sites, pipe corridors and existing operational hydrogen storage and distribution capabilities.
Read More
BP and Equinor have completed the formation of their strategic partnership for offshore wind projects in the US. This includes BP’s $1.1 billion purchase from Equinor of a 50 per cent stake in two major lease areas off the US East Coast. The new partnership will develop up to two projects with a cumulative capacity of 4.4 GW.
Read More
Biodiesel market is small today at around 0.9 million b/d, meeting less than 1% of global oil demand and is used solely in road transport. But it’s going to grow faster than any other segment of oil demand, except perhaps petrochemicals.
Read More
bp’s chief economist, Spencer Dale, recently presented the Energy Outlook 2020. Check out his presentation to know how has Covid-19 affected the outlook, how might oil demand be affected by the mobility revolution, what role could natural gas play in the energy transition, just how quickly will renewables grow over time, what role for hydrogen and bioenergy, and what are the dangers of delaying the energy transition.
Read More
BP plans to take its first steps into the burgeoning market for green hydrogen alongside the offshore wind developer Ørsted by developing a hydrogen project at one of its refineries in Germany. The energy companies plan to create the clean-burning gas by using renewable energy, generated by Ørsted’s North Sea wind farms, to split water into hydrogen and oxygen at BP’s Lingen refinery from 2024.
Read More
The growth in primary energy over the outlook period is dominated by renewable energy, as the world shifts towards lower-carbon sources of energy. The share of renewable energy (including wind, solar, geothermal and bioenergy but excluding hydro power) increases more than 10-fold in both Rapid and Net Zero.
Read More
BP has developed a strategy to reduce its carbon emissions. Within the next 10 years, BP aims to increase its annual low carbon investment by 10-fold to around USD 5 billion a year.
Read More