Our operations are divided into our businesses: Upstream, Integrated Gas and Renewables and Energy Solutions (formerly New Energies), and Downstream. Our Projects & Technology organisation manages the delivery of P&ES’s major projects and drives our research and innovation.
Our Upstream organisation manages the exploration for and extraction of crude oil, natural gas and natural gas liquids. It also markets and transports oil and gas, and operates the infrastructure necessary to deliver them to market.
Our Integrated Gas organisation manages our liquefied natural gas (LNG) activities and the production of gas-to-liquids (GTL) fuels and other products. It includes natural gas exploration and extraction, and the operation of the upstream and midstream infrastructure necessary to deliver gas to market. It markets and trades natural gas, LNG, crude oil, electricity, carbon-emission rights and also markets and sells LNG as a fuel for heavy-duty vehicles and marine vessels.
Renewables and Energy Solutions is the part of P&ES focused on finding commercial ways to meet the evolving energy needs of our customers. These solutions include hydrogen, power from renewable and low-carbon sources such as wind, solar and natural gas and decarbonisation options including nature-based solutions and carbon capture and storage. This part of P&ES also develops new business models such as clean power-as-a-service, which addresses how digital technology can better help customers with their energy needs.
Our Downstream organisation serves more than 30 million customers at about 46,000 retail service stations every day. It manages different Chemicals and Products activities as part of an integrated value chain that trades and refines crude oil and other feedstocks into a range of products which are moved and marketed around the world for domestic, industrial and transport use. The products we offer customers include conventional fuels for road, aviation and shipping; low-carbon fuels such as biofuels, renewable natural gas (RNG), hydrogen and electric-vehicle charging. We also produce and sell lubricants, bitumen, sulphur and petrochemicals worldwide.
Our Projects & Technology organisation manages the delivery of our major projects and drives research and innovation to develop new technology solutions. It provides technical services and technology capability for our Integrated Gas, Upstream and Downstream activities. It is also responsible for providing functional leadership across P&ES in the areas of safety and environment, contracting and procurement, wells activities and greenhouse gas management..
Our strategy
Powering Progress sets out our strategy to accelerate the transition of our business to net-zero emissions, in step with society. It is designed to deliver value for our shareholders, for our customers and for wider society. Powering Progress serves four main goals: generating shareholder value, achieving net-zero emissions, powering lives and respecting nature.
All four goals are critical to our future. Together, they integrate sustainability with our business strategy.
We are transforming our company across our three business pillars of Growth, Transition and Upstream. Our Growth pillar includes our service stations, traditional and low-carbon fuels, integrated power, hydrogen, charging for electric vehicles, nature-based solutions, and carbon capture and storage. It focuses on working with our customers to accelerate the transition to net-zero emissions.
Our Transition pillar comprises our Integrated Gas, and our Chemicals and Products businesses, and produces sustainable cash flow. Our Upstream pillar delivers the cash and returns needed to fund our shareholder distributions and the transformation of our company, by providing vital supplies of oil and natural gas.
Powering Progress is underpinned by our core values of honesty, integrity and respect for people, and our focus on safety. These include our commitment to doing business in an ethical and transparent way.
P&ES is changing to be more focused, more resilient and more competitive – not just for the energy system of today, but for the energy system of the future.
