BP Lubricants Full-Year Report 2023

“Our destination remains unchanged – from IOC to IEC – focused on growing the value of bp. We are confident in our strategy, on delivering as a simpler, more focused and higher-value company, and committed to growing long-term value for our shareholders.” 

We’re investing in today’s energy system, with four major start-ups. Plus, we’re building tomorrow’s, and increasing bioenergy production, installing new EV charging points, growing the number of convenience sites, and more. 

 

We’ve selected some of the year’s key highlights below.   

Highlights

• Managed base decline ~4%
• 13% Increase in bpx production
• ~23mtpa LNG portfolio (up from 19 mtpa in 2022)
• 18% increase in biofuel production volumes
• 80% increase in Biogas supply volumes
• 9% increase in gross margins