BP CEO Bernard Looney
BP’s hydrogen project pipeline hits 700,000t/yr
European oil major confident of policy support as it targets 10pc share of core markets by 2030
European oil major BP has a clean hydrogen project production pipeline of 700,000t/yr, with the potential to expand that figure to 1.3mn t/yr, CEO Bernard Looney said during a strategy update. BP has only formally announced half of this pipeline, he notes. BP aims to leverage its existing refinery demand for hydrogen to create a portfolio of regional supply hubs, with an aim to capture a 10pc share of core markets by 2030, Looney says. The company reported its highest profits for eight years in 2021 on the back of surging energy prices. “We are focused on growing scale in key regionally integrated markets such as the UK, Europe and the US,” he says. “And we are playing to our strengths here.
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