As the world shifts to global alternative energy conversations and electric vehicle popularity rises, BP (Tii:BP) remains a relevant and a notable player in the energy industry. The attention to energy diversification in its divisions underscores that the integrated oil and gas company is an active player in many alternative energy areas like natural gas, wind, solar power, and biofuels.

This diversification doesn’t stop at its range of divisions, but extends to the company’s overall vision. As of April 2022, BP was the only major energy company to have more women than men in the ranks of its top executive leadership.

Retail shareholders continue to appreciate the focus BP has placed on collaboration and innovation. Cultivating relationships worldwide with companies like NYK to target decarbonization in hard-to-abate industries like shipping is one example. Other areas of innovation can be seen in the aviation sector and sustainable fuel development in Australia.

BP operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment works on oil and natural gas exploration, field development and production, midstream transportation, storage and processing and the marketing and trade of natural gas, including liquefied natural gas and power, and natural gas liquids. The Downstream segment refines, manufactures, markets, transports, supplies and trades crude oil, petroleum, petrochemicals products and related services to wholesale and retail customers. The Rosneft segment engages in investment activities.

BP is ne of the five largest oil companies in the world and the United Kingdom's largest corporation. It is the first oil company to enter the Middle Eastern oil market. The company discovered oil in Iran before World War I. By the mid-1990s, it was producing more than 1.2 million barrels of oil and 1.5 million cubic feet of natural gas every day. “Downstream” operations contributed most of BP’s revenues in the mid-1990s. Most people know the company through its chain of more than 16,000 service stations around the world, but it also has significant interests in other areas.

BP has substantial reach that includes but is not limited to: oil refining and trading of oil products, the operation of electric vehicle charging facilities, onshore and offshore wind power, solar power generating facilities, hydrogen and carbon capture and storage. Additionally, the oil and gas company is involved in the convenience and mobility business, a management platform that handles fuel sales to retail customers, convenience products, aviation fuels, and Castrol lubricants.

The company was founded by William Knox D'Arcy on April 14, 1909 and is headquartered in London.

As world leaders work on climate change and reducing carbon emissions, businesses globally are investing in renewable energy and the global economy is highly focused on this transition. According to a study by Allied Market Research in 2022, the global renewable energy market was worth $881.7 billion in 2020, and indicators are that it may reach close to $2 trillion by 2030.

BP continues to develop, create and share new ideas and benefits for shareholders. In 2023 BP plans to unveil a clean hydrogen production target, attempting to capture a 10% share of hydrogen in core markets by 2030.