For the past six months, bp has been focused on reducing costs and transforming itself from an international oil company (IOC) to an integrated energy company (IEC).
- bp is No. 7 on CSP’s 2024 Top 202 ranking of U.S. convenience-store chains by total number of company-owned stores.
“We are in action focusing, simplifying and growing the value of bp and have accomplished a lot in the past six months,” said Murray Auchincloss, CEO of London-based bp.
This year in the United States, bp’s biogas business, Archaea, has started up four plants, including its largest to date just outside Kansas City. The plant streamlines and accelerates the time it takes to construct renewable natural gas (RNG). bp is the largest producer of RNG in the United States, according to the company.
“We are driving focus into the business and our portfolio, and remain committed to growing value and returns for bp,” said Kate Thomson, chief financial officer at bp.
- Read bp's second-quarter results.
bp has increased its global investment in lower-carbon convenience stores and power trading businesses from 3% in 2019 to 23% in 2023.
Elsewhere around the globe, the company is investing in its biofuels portfolio by taking full ownership of bp Bunge, a joint venture between bp and Bunge, a sugar, ethanol and low-carbon bioelectricity company in Brazil.
It is also concentrating its strategy in hydrogen by taking investment decisions on green hydrogen projects at its Castellon, Spain, and Lingen, Germany, refineries.
bp also gave the go-ahead to its sixth refinery in the Gulf of Mexico, Kaskida, to progress the development of new oil and gas resources.
Global energy company bp, which has U.S. headquarters in Chicago, owns convenience-store brands ampm and Thorntons in the United States. In May, it completed its acquisition of TravelCenters of America, Westlake, Ohio.
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