Net profit for April-June hit $3.1 billion (2.6 billion euros). That compared with a loss after tax of $16.8 billion in the second quarter of 2020 London : BP returned to profit in the second quarter, the British energy giant announced Tuesday, having posted a hefty loss one year earlier as the pandemic crushed oil […]
BP Invests $7 Million in Electric Vehicle Charging Firm
Oil company BP is joining a host of other oil companies with its $7 million investment in IoTecha for electric vehicle (EV) charging. Earlier this year, Shell said it will install more than 500,000 new charging stations by 2025 to meet growing demand globally for EVs, up from 60,000 active charging points today. IoTecha uses […]
BP Eyes IoT-Enabled EV Charging With US$7 Million Investment in IoTecha
BP Ventures is to integrate internet of things (IoT) electric vehicle (EV) charging firm IoTecha’s products into its EV infrastructure following a US$7 million (£5 million) investment. The technology developed by IoTecha connects EV chargers with the electricity grid using IoT, therefore optimising the charging process by automating payments and delivering cost and potential energy […]
Azerbaijan And BP Plan Solar Power Plant in Karabakh
The Ministry of Energy of the Republic of Azerbaijan and bp signed an Implementation Agreement on cooperation in the evaluation and implementation of a project to build a 240MW solar power plant in the Zangilan/Jabrayil region today. The signing of the document serves the establishment of a “green energy” zone in the liberated territories and […]
Hydrogen-Powered Trains Have Arrived
For all the buzz about hydrogen trucks and planes, railways provide the most immediate test case for the rollout of a clean-energy technology that has electrified policy makers and markets alike. Investors got very excited about the potential of hydrogen as a sustainable fuel last year, but have taken a breather in recent months—as they […]
BP Deepens Tech Ties With Palantir in Push for Low-Carbon Future
BP Plc is deepening its use of Palantir Technologies Inc.’s data processing software, as the oil company looks to a greater use of technology to help cut greenhouse-gas emissions. BP has been using Palantir’s software since 2014 to help extract oil and gas. That will now be expanded into optimizing wind farms, electric charging networks, […]
BP’s New Green Hydrogen Project Should Encourage Stakeholders
As an old energy company taking new steps toward prosperity, BP stock deserves a second look For decades, major energy firm BP (NYSE:BP) was known as a relatively stable company to invest in. Granted, the name did hit troubled waters with its 2010 oil spill in the Gulf of Mexico, but BP stock was able […]
Coalition Aims for 25GW of Green Hydrogen by 2026
Seven firms join forces for fiftyfold scale-up of global hydrogen production capacity. The soaring hype surrounding green hydrogen reached new heights this week, as a seven-company-strong consortium unveiled plans for a fiftyfold scale-up in production capacity by 2026. ACWA Power, CWP Renewables, Envision, Iberdrola, Ørsted, Snam and Yara launched a coalition called the Green Hydrogen […]
BP and Ørsted to create renewable hydrogen partnership in Germany
Plan to jointly develop industrial-scale electrolyser project for green hydrogen production Powered by Ørsted offshore wind, project will initially replace 20% of natural gas-based hydrogen used at bp’s Lingen refinery Scale of project will support future reduction in green hydrogen costs bp’s first full-scale green hydrogen project, a significant step in […]
BP Signals Imminent Hydrogen and Offshore Wind Plays
Potential investments in offshore wind and hydrogen are on the near-term horizon, says CEO Bernard Looney. BP is readying offshore wind bids during the next six months with heightened hydrogen activity also in the pipeline, the oil major’s CEO, Bernard Looney, said Tuesday. During the company’s Q3 results call, Bernard Looney said BP would “probably” […]
