BP PLC ADR

BP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$65.70	Bqhb	Tbktsryhz

Despite Trimming Some Targets, BP Still Holds One of the More Aggressive Transition Strategies

Allen Good

Aug 15, 2023

Business Strategy and Outlook

BP previously expected to reduce production by 25% by 2025 and 40% by 2030, but it will now increase production slightly through 2025 and reduce it by about 25% from 2019 levels by 2030, largely through divestments. During that time, it should also improve upstream profitability as higher-margin volumes from major projects come online and costs are reduced.

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