BP - CEO: Co. needs rapid and 'just' energy transition; To invest up to 50% of its capital in energy transition by end of the decade - financial press
- 30% of capital will go into energy transition in 2023
- Will invest $55-65B in energy transition by end of the decade
- Energy transition is a massive opportunity for our business, not a threat
- EV charging market needs rapid, orderly transition
- Have installed 300 battery swapping points
- Installed 3,000 EV charging points in India; Working with Reliance Industries (RIL.IN) to boost EV charging in India
- Need global investment in both current energy systems and in energy transition
- Oil and gas will be needed for many more decades to come
- Producing 1Bcf of gas from the East Coast Block