BP
British giant BP also agreed to the transition principle after announcing a zero target just before the outbreak of COVID-19. The company's finances are on par with Shell, and sales have fallen to $180 billion.
The mining sector of the company posted a net loss of $21 billion in the 2020/21 fiscal year. Nevertheless, the cost per barrel of oil equivalent was about $6.30. The adjusted value of BP's non-operating assets resulted in a loss of $16 billion in value, but this figure will change as oil prices rise.
In June, BP sold its petrochemical business to Ineos for $4 billion. In early 2020, it started operations in the Alligin oil field in the UK and the Gazer oil field in Oman. Engineers produced the first gas in Egypt's Katameya oil field in October 2020, and India's R-Cluster ultra-deep-sea project produced its first gas in December 2020.
In the meantime, the company continued its diversification efforts.
BP announced investments in US wind farms and UK carbon capture projects, as well as investments in clean hydrogen projects in Germany. Lightsource has developed several solar power plants in the US, and Chargemaster has installed electric vehicle charging stations throughout the UK.
Founded: 14 April 1909
Headquarters: London, England, United Kingdom
Market cap: $91.53 Billion As of December 2021
Revenue: $180bn in 2020
Website: bp.com
