Oil major is building a low-carbon hydrogen portfolio
BP sees hydrogen portfolio doubling by year-end
Oil major retains heavy focus on use of low-carbon hydrogen at its refineries and eyes tanker fuel market
BP expects to nearly double its pipeline of low-carbon hydrogen projects by the end of this year as it grows its portfolio with a continued focus on applications at its own refineries. “In hydrogen and renewables and power we are progressing our global portfolio of projects,” Chief Financial Officer Murray Auchincloss said in the company’s first quarter earnings presentation. “We are on-track to nearly double our hydrogen pipeline by year-end from 1.8mn t/yr at the end of 2022 to around 3.5mn t/yr. And we continue to grow our renewables pipeline.” “We are on-track to nearly double our hydrogen pipeline by year-end from 1.8mn t/yr at the end of 2022 to around 3.5mn t/yr” Auchincloss, BP
Also in this section
27 November 2024
The clean hydrogen sector has endured a difficult year, but it will end 2024 better equipped to fulfil its long-term potential
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Green hydrogen presents unique costs challenges as government looks to replicate country’s long-standing success as an exporter of iron ore and other natural resources
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
