An electrifying week

It has been another busy week for BP. Was up early on Tuesday to be on set at CNBC in central London by 7am to talk through our latest financial results. A strong set of numbers made it much easier to rise and shine – $2.8 billion profit and $8.2 billion operating cash flow for the quarter.

Then on to Bloomberg, to talk about the energy transition and some of what BP is doing to help the world get on a more sustainable path. A good example is the deal mentioned here last week – creating a bioenergy powerhouse in Brazil by combining BP’s biofuels assets with those of Bunge, subject to regulatory approvals.

I was itching to talk on camera about our next move, but that had to wait until today. BP is joining forces with DiDi in a deal with the ambition of building the biggest electric vehicle charging network in China – the country that’s home to around half of all the EVs on the planet. And the market for EVs is growing faster in China than anywhere else. 

DiDi is already connecting more than half-a-billion people with ride-hailing, car sharing and other online mobility services, like food delivery. And BP has a global network of over 18,700 retail stations and owns BP Chargemaster, the UK’s biggest EV charging network. Together we see the potential to supercharge global growth in electric vehicles.

We’re busy demonstrating what the analysts at Goldman Sachs have described in their latest report as ‘Re-imagining Big Oils’. I’m not keen on the label. Oil is a really important part of our business, but we’re much broader than that, producing energy of all kinds – wind, solar, natural gas and a huge range of low carbon venturing activities.

We’re finding new ways all the time of advancing the world towards a net-zero future, and the healthier we stay as a business the better we can do that.

You can read more about our latest results and progress here.