Embracing Change, Advancing Energy, Strengthening Our Partnerships

With oil and gas still reasonably expected to provide 40% of energy demand by 2040, Mr. Birrell reviewed some of the big changes that BP has made, and that he thinks we all should consider, to become more efficient and productive between now and then.

We can expect a 30% increase in primary energy demand by 2040. At the same time, there has to be a 50% reduction in emissions to meet Paris Accord recommendations. Renewables currently meet just 5% of primary energy demand and we expect just 14% from renewables by 2040. Anticipate that oil and gas will still provide 40% of energy demand by 2040. The world needs multiple fuels, but fuels that are kinder to the planet. We must deliver lower emissions.

Mr. Birrell described some of the key transformation tools used in BP:

1. Enterprise-wide digital—e.g. digital twins in all BP facilities around the world; Plant Operations Advisor. Digital is not just improving productivity and efficiency, but also safety.
2. Agile working—empowering our teams to work in new ways, with massive impact on productivity. Cross-functional, highly-talented teams, tasked to resolve one problem, sustainably, efficiently, and permanently. Combines creativity and speed.
3. Mindset of employees—business “ownership” mentality by all employees; employees become problem solvers, not problem identifiers; inclusion is key.

BP has applied the same mindset shift to energy efficiency, and it has made a huge difference in BP’s carbon footprint.

None of us alone has all the answers. We’re only faster, more efficient, and more productive if we collaborate and work together. For example, Joint Industry Project 33 developed standard specifications for tendering new projects. This is making package procurement much more inefficient.

We’ve started, but there’s much more to do. For the creativity of people, and the supply of clean energy to flourish, we need new models.