BP To Invest 18-Billion Pounds In Energy Transition Of UK

Power & Energy

The company ‘BP’ is going to invest around 18 billion pounds in the energy system of the United Kingdom by the end of 2030, along with demonstrating the commitment of the company to the United Kingdom and also helping the country for delivering on the company’s bold ambitions for boosting the energy security and reaching the net zero target.

As one of the largest oil and gas producer in the United Kingdom and the company is also intending to continue investing in the North Sea Oil and gas along with driving down the operational emissions. The company is also going to be in the actions on a range of the lower carbon energy investments in the United Kingdom, which has been expected for bringing the jobs and developing the new capabilities and new skills.

Bernard Looney, chief executive officer of BP said that, they are backing the United Kingdom and it has been their home for more than 110 years and they have also been investing in the North Sea Oil and Gas for over 50 years and they are also fully committed to the energy transition of the United Kingdom that will be providing reliable home-grown energy along with focusing on their drive to the net zero goals.

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The investment has been made in addition to the significant operating spending of BP in the United Kingdom and in 2019, an expected 0.5 percent of the GDP of United Kingdom had been supported by the activities of BP.

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