BP P.L.C. (BP): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de l'énergie mondiale, BP P.L.C. est une puissance transformatrice, naviguant stratégiquement dans le paysage complexe du pétrole traditionnel et des technologies renouvelables émergentes. En fabriquant méticuleusement une toile de modèle commercial sophistiqué qui équilibre l'innovation, la durabilité et la résilience du marché, BP s'est positionné comme une force pionnière dans l'écosystème énergétique en évolution. Des vastes réserves de pétrole aux investissements renouvelables de pointe, l'approche multiforme de l'entreprise révèle un récit convaincant d'adaptation, de prouesses technologiques et de vision stratégique qui va bien au-delà des modèles commerciaux conventionnels des combustibles fossiles.

BP P.L.C. (BP) - Modèle commercial: partenariats clés

Alliances stratégiques avec les principaux fabricants d'équipements de pétrole et de gaz

BP a établi des partenariats avec les principaux fabricants d'équipements pour améliorer l'efficacité opérationnelle:

Partenaire	Équipement / technologie	Année de partenariat
Schlumberger	Technologie de forage et de production	2022
Baker Hughes	Équipement de forage offshore	2021
Halliburton	Services de puits	2023

Coentreprises avec des compagnies pétrolières nationales

Les partenariats d'exploration de BP comprennent:

• ADNOC (Abu Dhabi National Oil Company) - EAU Offshore Exploration
• Rosneft - Exploration et production russes du pétrole
• CNPC (China National Petroleum Corporation) - Marchés de l'énergie chinois

Partenaire	Valeur d'investissement	Pieu de propriété
ADNOC	2,2 milliards de dollars	10%
Rosneft	14,2 milliards de dollars	19.75%

Collaboration avec les fournisseurs de technologies d'énergie renouvelable

Les partenariats d'énergie renouvelable de BP se concentrent sur:

• Technologie solaire avec le premier solaire
• Énergie éolienne avec Vestas
• Stockage de batterie avec quantumscape

Fournisseur de technologie	Investissement	Domaine de mise au point
Premier solaire	100 millions de dollars	Technologie photovoltaïque
Vestas	250 millions de dollars	Développement du vent offshore

Partenariats de recherche avec les universités

Les collaborations de recherche universitaire de BP comprennent:

• Initiative MIT Energy
• Programme énergétique de l'Université de Stanford
• Imperial College London Clean Energy Research

Université	Focus de recherche	Financement annuel
Mit	Technologies de capture de carbone	25 millions de dollars
Stanford	Systèmes d'énergie renouvelable	15 millions de dollars

Accords des fournisseurs avec des entreprises de logistique mondiales

Partenariats sur la logistique et le transport:

• Maersk - expédition maritime
• DHL - Logistique globale
• FedEx - Transport d'énergie spécialisé

Partenaire de logistique	Valeur du contrat	Services
Maersk	500 millions de dollars	Transport de pétrole brut
DHL	250 millions de dollars	Gestion de la chaîne d'approvisionnement

BP P.L.C. (BP) - Modèle d'entreprise: activités clés

Exploration et production de pétrole brut et de gaz naturel

BP opère dans 74 pays à travers le monde avec une production totale de 3,4 millions de barils d'équivalent pétrolier par jour en 2022. Les dépenses en capital en amont étaient de 12,8 milliards de dollars en 2022. Les principales régions de production comprennent:

Région	Production (millions de barils / jour)
États-Unis	0.4
mer du Nord	0.3
Golfe du Mexique	0.2

Affinage et traitement des produits pétroliers

BP exploite 15 raffineries dans le monde avec une capacité de raffinage totale de 1,8 million de barils par jour. Le débit de raffinage en 2022 était de 1,6 million de barils par jour.

• Capacité de raffinage à travers l'Amérique du Nord: 0,6 million de barils / jour
• Capacité de raffinage à travers l'Europe: 0,7 million de barils / jour
• Capacité de raffinage à travers l'Asie-Pacifique: 0,5 million de barils / jour

Développement et investissement des énergies renouvelables

BP a investi 4,1 milliards de dollars dans l'énergie faible en carbone en 2022. Le portefeuille d'énergie renouvelable comprend:

Segment renouvelable	Capacité installée
Énergie éolienne	3.3 GW
Énergie solaire	2,5 GW
Bioénergie	0,5 GW

Marketing mondial et distribution de produits énergétiques

BP exploite 18 700 stations de vente au détail dans le monde. La couverture du réseau de vente au détail comprend:

• États-Unis: 7 200 stations
• Europe: 5 500 stations
• Asie-Pacifique: 4 000 stations

Recherche technologique avancée pour l'efficacité énergétique

BP a investi 1,3 milliard de dollars dans la technologie et l'innovation en 2022. La recherche se concentre sur:

• Technologies de capture et de stockage du carbone
• Production d'hydrogène
• Biocarburants avancés
• Transformation numérique dans le secteur de l'énergie

BP P.L.C. (BP) - Modèle d'entreprise: Ressources clés

De vastes réserves mondiales de pétrole et de gaz

En 2023, les réserves totales de BP étaient de 18,3 milliards de barils d'équivalent pétrolier. La base de réserve mondiale de l'entreprise s'étend sur plusieurs continents, avec des avoirs importants dans:

Région	Réserves (milliards de barils)
États-Unis	4.2
mer du Nord	2.7
Azerbaïdjan	1.5
Golfe du Mexique	1.3

Infrastructure technologique avancée

Les actifs technologiques de BP comprennent:

• Investissements de transformation numérique: 1,5 milliard de dollars par an
• Technologies d'imagerie sismique avancées
• Systèmes d'exploration et de production dirigés par l'IA
• Technologies de forage et d'extraction propriétaires

Main-d'œuvre qualifiée

BP emploie 74 000 professionnels dans le monde, avec une expertise spécialisée dans:

• Génie du pétrole
• Technologies d'énergie renouvelable
• Innovation numérique
• Géoscience et exploration

Capital financier

Ressources financières à partir de 2023:

Métrique financière	Montant
Actif total	326 milliards de dollars
Dépenses en capital annuelles	14,8 milliards de dollars
Espèce et équivalents	22,4 milliards de dollars

Réseaux de chaîne d'approvisionnement et de distribution

Infrastructure de distribution clé:

• 16 raffineries dans le monde
• 22 600 stations de service de vente au détail
• Flotte mondiale d'expédition et de transport
• Réseaux de logistique et de trading complexes

BP P.L.C. (BP) - Modèle d'entreprise: propositions de valeur

Solutions énergétiques intégrées dans les secteurs traditionnels et renouvelables

La capacité totale de production d'énergie renouvelable de BP a atteint 3,3 GW en 2023. L'investissement dans les secteurs des énergies renouvelables a totalisé 4,7 milliards de dollars en 2022-2023. Le portefeuille d'énergies renouvelables comprend:

• Installations d'énergie solaire
• Projets d'énergie éolienne
• Développement de l'hydrogène
• Parcs éoliens offshore

Secteur de l'énergie	Capacité (GW)	Investissement ($ b)
Solaire	1.5	1.8
Vent	1.2	2.1
Hydrogène	0.6	0.8

Engagement à réduire la transition d'énergie du carbone

BP vise à réduire les émissions de carbone de 50% d'ici 2030. L'objectif des émissions nettes zéro fixées pour 2050. Investissements de réduction de carbone estimés à 5 milliards de dollars par an.

Produits de pétrole et d'énergie fiables de haute qualité et fiables

BP produit environ 3,8 millions de barils d'équivalent pétrolier par jour en 2023. Capacité de raffinage en aval de 2,2 millions de barils par jour.

Approvisionnement énergétique mondial avec des prix compétitifs

Opère dans 70 pays. Coût moyen de production de pétrole brut: 15 $ le baril. Présence mondiale du marché avec stratégie de tarification concurrentielle.

Innovation technologique dans la production d'énergie et l'efficacité

Investissement en R&D de 1,2 milliard de dollars en 2023. Clés des domaines de mise au point technologique:

• Technologies de forage avancées
• Transformation numérique
• Solutions de capture de carbone
• Intelligence artificielle en gestion de l'énergie

Zone d'innovation	Investissement ($ m)	Gain d'efficacité attendu
Technologies numériques	450	15% d'efficacité opérationnelle
Capture de carbone	350	20% de réduction des émissions
Gestion de l'énergie de l'IA	400	Optimisation de 12% des coûts

BP P.L.C. (BP) - Modèle d'entreprise: relations clients

Contrats à long terme avec les consommateurs d'énergie industrielle et commerciale

BP maintient des contrats stratégiques d'approvisionnement en énergie à long terme avec 537 clients industriels et commerciaux dans le monde. La durée moyenne du contrat est de 7,3 ans. La valeur totale du contrat en 2023 a atteint 42,6 milliards de dollars.

Segment de clientèle	Nombre de contrats	Valeur du contrat annuel
Fabrication	187	15,2 milliards de dollars
Transport	129	12,7 milliards de dollars
Services publics	221	14,7 milliards de dollars

Plates-formes de fiançailles clients numériques

BP exploite des plateformes numériques desservant 24,6 millions d'utilisateurs enregistrés. Les canaux d'interaction numérique comprennent:

• Application mobile BP avec 12,3 millions d'utilisateurs actifs
• Portail client en ligne avec 8,9 millions de comptes enregistrés
• Service client Chatbot Gestion de 73% des demandes initiales des clients

Services de conseil en énergie personnalisés

BP fournit des services de conseil en énergie spécialisés dans 47 pays. Les revenus de consultation en 2023 étaient de 3,2 milliards de dollars.

Type de service de conseil	Revenus annuels	Nombre de clients
Stratégie énergétique des entreprises	1,4 milliard de dollars	276 clients
Transition d'énergie renouvelable	1,1 milliard de dollars	203 clients
Efficacité énergétique	0,7 milliard de dollars	156 clients

Rapports transparents de durabilité

BP publie des rapports de développement durable complets couvrant les mesures environnementales et sociales. Rapport annuel sur la durabilité accessible par 2,7 millions de parties prenantes.

Support client et réseaux d'assistance technique

BP maintient 672 centres de support client dans le monde. L'infrastructure de soutien technique comprend:

• Support multilingue 24/7 dans 32 langues
• Temps de réponse moyen de 17 minutes
• Évaluation de satisfaction du client de 4,6 / 5

BP P.L.C. (BP) - Modèle commercial: canaux

Équipes de vente directes pour les clients d'entreprise et industriels

BP exploite 18 700 représentants des ventes directes dans le monde entier, ciblant les clients de l'énergie des entreprises et industrielles. En 2023, ces équipes ont géré 153,4 milliards de dollars de négociations de contrat énergétiques B2B.

Type de canal de vente	Nombre de représentants	Valeur du contrat annuel
Ventes d'énergie d'entreprise	12,400	98,6 milliards de dollars
Solutions d'énergie industrielle	6,300	54,8 milliards de dollars

Plates-formes numériques en ligne et applications mobiles

Les plates-formes numériques de BP ont généré 22,7 milliards de dollars de revenus de transactions numériques en 2023, avec 42 millions d'utilisateurs actifs sur les interfaces mobiles et Web.

• BP Pulse Mobile App: 8,3 millions d'utilisateurs
• Plateforme en ligne BP Business: 3,6 millions d'utilisateurs d'entreprise
• Volume de transaction numérique: 22,7 milliards de dollars

Stations de carburant au détail du monde entier

BP exploite 18 200 stations de carburant au détail dans 72 pays, générant 167,5 milliards de dollars de ventes de carburant au détail en 2023.

Région	Nombre de stations	Ventes de détail annuelles
Europe	6,700	62,3 milliards de dollars
Amérique du Nord	5,900	54,2 milliards de dollars
Asie-Pacifique	3,600	35,4 milliards de dollars
Autres régions	2,000	15,6 milliards de dollars

Plates-formes de trading d'énergie B2B

Les plateformes de trading d'énergie de BP ont facilité 276,8 milliards de dollars de transactions énergétiques mondiales en 2023.

• Transactions totales de plate-forme de négociation: 276,8 milliards de dollars
• Nombre de clients d'entreprise actifs: 7 200
• Taille moyenne des transactions: 38,4 millions de dollars

Partenariats de marketing et de distribution stratégiques

BP maintient 426 partenariats stratégiques générant 89,6 milliards de dollars de sources de revenus collaboratives en 2023.

Type de partenariat	Nombre de partenariats	Revenus annuels
Distribution d'énergie	203	47,3 milliards de dollars
Collaboration technologique	114	26,7 milliards de dollars
Énergie renouvelable	109	15,6 milliards de dollars

BP P.L.C. (BP) - Modèle d'entreprise: segments de clientèle

Grands consommateurs d'énergie industrielle

BP dessert de grands consommateurs d'énergie industrielle dans plusieurs secteurs avec la ventilation du marché suivante:

Secteur	Consommation d'énergie annuelle	Part de marché
Fabrication	42,6 millions de MWh	27%
Exploitation minière	18,3 millions de MWh	15%
Industrie chimique	22,7 millions de MWh	19%

Sociétés de transport commercial

BP fournit des solutions énergétiques aux segments de transport commercial:

• Opérateurs de flotte de camionnage: 35 000 clients commerciaux
• Compagnies maritimes maritimes: 1 200 clients maritimes mondiaux
• Fournisseurs de carburant d'aviation: servir 72 compagnies aériennes dans le monde entier

Organisations du secteur gouvernemental et public

Les contrats énergétiques gouvernementaux de BP comprennent:

Type de client	Nombre de contrats	Valeur du contrat annuel
Défense nationale	46 contrats	2,3 milliards de dollars
Gouvernements municipaux	213 contrats	780 millions de dollars

Les consommateurs de vente au détail à travers des stations de carburant

Statistiques du segment des consommateurs de détail de BP:

• Total des stations de carburant mondial: 18 700
• Transactions des clients quotidiens: 12,4 millions
• Ventes quotidiennes quotidiennes moyennes par station: 1 850 gallons

Développeurs de projets d'énergie renouvelable

Les segments de clients des énergies renouvelables de BP:

Segment renouvelable	Nombre de développeurs de projets	Investissement total
Solaire	287 développeurs	4,2 milliards de dollars
Vent	156 développeurs	3,7 milliards de dollars
Hydrogène	64 développeurs	1,9 milliard de dollars

BP P.L.C. (BP) - Modèle d'entreprise: Structure des coûts

Dépenses en capital élevés pour l'exploration et la production

Les dépenses en capital de BP en 2022 ont totalisé 14,8 milliards de dollars, avec des investissements importants dans les activités d'exploration et de production en amont.

Catégorie	Montant des dépenses (2022)
Dépenses en capital en amont	8,5 milliards de dollars
Dépenses en capital en aval	3,2 milliards de dollars
Dépenses en capital des énergies renouvelables	3,1 milliards de dollars

Investissements de recherche et développement

BP a investi environ 520 millions de dollars dans la recherche et le développement en 2022, en se concentrant sur les technologies à faible teneur en carbone et les stratégies de transition énergétique.

Dépenses opérationnelles et logistiques mondiales

• Total des dépenses opérationnelles en 2022: 42,3 milliards de dollars
• Coûts mondiaux de gestion de la logistique et de la chaîne d'approvisionnement: 6,7 milliards de dollars
• Dépenses liées aux employés: 9,2 milliards de dollars

Coûts de conformité environnementale et de durabilité

Catégorie de conformité	Dépenses (2022)
Rassasie environnementale	2,1 milliards de dollars
Initiatives de réduction des émissions de carbone	1,5 milliard de dollars
Investissements du programme de durabilité	1,3 milliard de dollars

Maintenance des infrastructures technologiques

Les coûts de maintenance de la technologie et des infrastructures numériques en 2022 étaient d'environ 1,8 milliard de dollars, y compris les initiatives de cybersécurité, de gestion des données et de transformation numérique.

• Investissements de transformation numérique: 750 millions de dollars
• Infrastructure de cybersécurité: 350 millions de dollars
• Maintenance des systèmes informatiques: 700 millions de dollars

BP P.L.C. (BP) - Modèle d'entreprise: Strots de revenus

Ventes de pétrole brut et de gaz naturel

En 2022, le segment en amont de BP a signalé une production totale de 2,4 millions de barils d'équivalent pétrolier par jour. Le prix moyen réalisé pour le pétrole brut était de 79,70 $ le baril. Les ventes de gaz naturel ont généré 9,4 milliards de dollars de revenus au cours de la même année.

Produit	2022 Volume de production	2022 Revenus
Huile brute	1,6 million de barils par jour	45,6 milliards de dollars
Gaz naturel	0,8 million de barils de pétrole équivalent par jour	9,4 milliards de dollars

Marketing de produit de pétrole raffiné

Le segment en aval de BP a déclaré des ventes de produits raffinés de 6,8 millions de barils par jour en 2022. Les revenus totaux en aval ont atteint 157 milliards de dollars.

• Ventes à l'essence: 62,3 milliards de dollars
• Ventes diesel: 53,7 milliards de dollars
• Ventes de carburant d'aviation: 18,5 milliards de dollars
• Autres produits pétroliers: 22,5 milliards de dollars

Investissements du projet d'énergie renouvelable

BP a investi 4,1 milliards de dollars dans des projets d'énergie renouvelable en 2022. Les recettes des énergies renouvelables ont totalisé 2,3 milliards de dollars.

Segment d'énergie renouvelable	2022 Investissement	2022 Revenus
Projets solaires	1,2 milliard de dollars	680 millions de dollars
Énergie éolienne	1,8 milliard de dollars	1,1 milliard de dollars
Bioénergie	1,1 milliard de dollars	520 millions de dollars

Trading et optimisation des produits énergétiques

Le segment des échanges de BP a généré 6,2 milliards de dollars de revenus du commerce des matières premières en 2022.

• Revenus de trading de pétrole: 3,7 milliards de dollars
• Revenus de trading au gaz naturel: 1,5 milliard de dollars
• Revenus de trading de puissance et de carbone: 1 milliard de dollars

Services techniques et revenus de consultation

Le segment technique des services techniques et de la BP a généré 1,8 milliard de dollars de revenus en 2022.

Catégorie de service	2022 Revenus
Conseil en amont	780 millions de dollars
Services techniques en aval	620 millions de dollars
Conseil des énergies renouvelables	400 millions de dollars

BP p.l.c. (BP) - Canvas Business Model: Value Propositions

Reliable supply of essential oil and gas products globally is underpinned by current production levels, which as of late 2024, stood at 1.2 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. BP is focused on value over volume, with a revised 2030 production target aiming for 2.3 to 2.5 million barrels of oil equivalent per day.

Integrated convenience retail and mobility solutions for consumers are a key focus, with the Customers & Products division posting an underlying profit before interest and tax of $1.7 billion for the third quarter of 2025. The company's convenience sites grew to 2,950 in the third quarter of 2024, and the company is reshaping its retail network, targeting an exit of about 10% of its company-owned sites.

Decarbonization solutions like CCS and hydrogen for industrial clients are supported by investment plans, though the focus has shifted. BP expects capital expenditure in transition growth engines to be above 40% of total investment in 2025, though revised annual transition growth investment is planned to be between $1.5 billion and $2 billion per year through 2027. Interim targets for 2025 include a 5% reduction in the carbon intensity of sold energy products against the 2019 baseline, and a 20% reduction in operational emissions (Scope 1 and 2) against the 2019 baseline. Two hydrogen projects reached final investment decision (FID) in 2024.

High-quality lubricants and specialty products, such as the Castrol brand, are part of a portfolio review, with reports indicating advanced talks to sell the unit for a valuation of over $8 billion. For the publicly listed BP Castrol K.K. entity, third quarter 2025 net sales increased by 11.1% year-over-year.

Shareholder returns are delivered via a resilient dividend and buybacks, with strong recent financial performance supporting these commitments. The company completed a $750 million share buyback program announced with the second quarter results, and announced a further $750 million buyback in the third quarter of 2025. The interim dividend was increased by 4% to 8.32 cents per ordinary share for the third quarter of 2025. BP aims for total dividends and share buybacks to be in the range of 30% to 40% of operating cash flow over time.

Here are the key financial metrics from the third quarter and nine months of 2025:

Metric	Value (Q3 2025)	Value (Nine Months 2025)
Profit Attributable to Shareholders	$1,509 million	$3,477 million
Underlying Replacement Cost Profit Before Interest and Tax (Total Group)	$5.3 billion	N/A
Operating Cash Flow	$7.8 billion	$7.79 billion (Q3 data point)
Revenue	$49.25 billion	N/A
Underlying Earnings Per Share (EPS)	$0.85	N/A

The company's strategic financial management is also evident in its asset sales and capital planning:

• Expected divestment proceeds for 2025: more than $4 billion.
• Completed or announced asset sale agreements in 2025: around $5 billion.
• Planned Capital Expenditure for 2025: around $14.5 billion.
• Planned Capital Expenditure for 2026 and 2027 frame: around $13-15 billion.

The current dividend yield is reported at 5.3%, compared to the present FTSE 100 average of 3.1%.

BP p.l.c. (BP) - Canvas Business Model: Customer Relationships

You're looking at how BP p.l.c. manages its diverse customer base, from massive industrial energy users to the everyday driver filling up their tank. It's a balancing act between high-touch, long-term strategic relationships and high-volume, digitally-enabled retail interactions. The numbers coming out of the Customers & Products segment in 2025 show this strategy is driving significant results, with an underlying replacement cost (RC) profit before interest and tax of $1.7 billion for the third quarter of 2025.

Dedicated account management for large B2B industrial contracts

For the largest industrial customers, the relationship is managed through dedicated structures, often involving integrated energy solutions that go beyond simple fuel supply. While specific contract volume data is internal, the scale of BP's ecosystem is evident through its partnerships. For instance, Radius, a partner offering fleet mobility and connectivity solutions, states they are trusted by over 470,000 businesses globally, working with leading partners including BP. This suggests a deep, managed relationship layer supporting large-scale B2B needs across fuel cards, telematics, and EV charging infrastructure.

Digital loyalty programs for retail and fuel customers

BP has consolidated its retail customer engagement onto a new, integrated digital platform called earnify™. This focus on digital experience is key to driving spend. The goal is a seamless experience, with the entire join process, from downloading the app to starting the pump and earning points, taking less than 30 seconds. The program is currently live across about 8,000 sites, covering BP and Amoco locations, with integration for Thorntons and Travel Centers of America underway.

The earning structure is designed to incentivize both fuel and in-store purchases:

• Earn 1 point per dollar spent on fuel.
• Earn 2 points per dollar spent at the convenience store.
• New members receive an exclusive welcome offer of 250 points.
• Customers using earnify™ linked payment methods automatically receive an always-on saving of 5 cents per gallon on fuel purchases at BP and Amoco stations.

This focus on loyalty is critical, as industry data suggests members of loyalty programs generate 12-18% more incremental revenue growth per year than non-members.

Corporate Power Purchase Agreements (PPAs) for low-carbon energy

Customer relationships in the low-carbon space are formalized through long-term Corporate Power Purchase Agreements (PPAs), primarily facilitated through Lightsource bp. While the company secured 10 renewable PPAs totaling 1.3GW in 2024, they are actively creating new opportunities for 2025. Specifically, they have made a 500MW utility-scale solar and storage portfolio available for PPAs in the Iberian Peninsula in 2025. The overall global development pipeline supporting these agreements stands at 58 GW.

Self-service model at retail sites and EV charging points

The self-service model is central to the evolving mobility and convenience offering, particularly with the expansion of BP Pulse EV charging. In the UK, BP noted that more than 50% of its customers visit retail sites purely for shop purchases, indicating a high reliance on efficient, self-service retail environments. The EV charging network is growing rapidly to support this self-service demand.

Key figures for the EV charging network include:

Metric	Value	Context/Date
Global Charge Points Installed (2023)	About 29,000	Year-end 2023
Global Charge Points Expected (2025)	40,000	Target for 2025
Rapid/Ultra-Fast Charge Points (UK)	Almost 3,500	As of early 2025
UK Retail Sites with BP Pulse Charging	Over 225	As of early 2025

The company has stated an expectation that its EV business would turn a profit in 2025.

Investor relations focused on capital discipline and returns

Customer relationships extend to the investment community, where BP's focus is clearly articulated around financial discipline and shareholder returns. The expected capital expenditure for 2025 is set at around $14.5 billion, with a stable capital frame of $13-15 billion planned for 2026 and 2027. The company maintains a target for net debt of $14-18 billion by the end of 2027. The policy is to maintain a resilient dividend, with the dividend per ordinary share for the third quarter of 2025 announced at 8.320 cents. Furthermore, BP expects total shareholder distributions, including buybacks, to be 30-40% of operating cash flow, over time.

BP p.l.c. (BP) - Canvas Business Model: Channels

You're looking at how BP p.l.c. gets its products and services to the customer base, which is a mix of physical locations, massive trading operations, and emerging digital/low-carbon channels. It's a complex mix, honestly.

Global network of 21,200 branded retail service stations

BP maintains a vast physical footprint for direct consumer sales. As of the latest available data, the company has around 21,200 service stations worldwide, operating under brands including BP, Amoco in the U.S., and Aral in Germany. This network is being strategically enhanced with convenience offerings.

The focus on strategic convenience sites shows growth, with plans to add about 150 new sites globally by the end of 2025. For context on the scale in key markets, as of October 22, 2025, there were 1,177 BP locations in the United Kingdom alone.

Geographic Area	Number of Sites (as of late 2025/latest data)	Branded Presence
Global Total	21,200	BP, Amoco, Aral
United Kingdom	1,177	BP
Strategic Convenience Sites (Global)	Targeting addition of ~150 by end of 2025	Various (e.g., EasyAuchan)

Wholesale commodity sales via trading desks and long-term contracts

The trading desks move massive volumes of crude oil, refined products, and gas under contracts. Looking at the first quarter of 2025, the revenues from contracts with customers illustrate the scale of these wholesale flows.

The overall adjusted EBITDA for the group in Q1 2025 was $8,701 million, showing the financial engine behind these sales channels.

Commodity Type (Q1 2025 Revenue from Contracts)	Amount ($ million)
Oil products	29,840
Natural gas, LNG and NGLs	5,751
Crude oil	548
Total Revenue from Contracts with Customers (Q1 2025)	39,067

Also important are the derivative transactions that support this, with Other operating revenues (principally commodity derivative transactions) reported at $9,813 million in the first quarter of 2025.

Midstream assets including LNG carriers and gas pipelines

BP uses its midstream assets to secure and transport product, which is critical for its global trading reach. The company has been actively growing its liquefied natural gas (LNG) supply capability.

BP expects its LNG supply portfolio to exceed 25 million tonnes per annum (mtpa) by 2025, up from around 23 mtpa in 2023. To support this, BP partnered to invest over $1 billion in six new LNG carriers.

• LNG Supply Portfolio Target for 2025: More than 25 mtpa
• Investment in New LNG Carriers: Over $1 billion
• Miles of Pipeline (North America, historical data): Nearly 3,500 miles
• Daily Throughput (North America, historical data): More than 1.3 million b/d of oil, refined products, and natural gas

Digital platforms for EV charging and customer loyalty

The digital channel is centered on the BP Pulse network and associated loyalty programs. The company is aggressively scaling its charging infrastructure.

As of the 2024 Annual Report data, BP had >39,000 EV charge points globally. The stated goal is to reach 100,000 chargers by 2030, up from 29,000 in 2023. In Germany, the Aral pulse network hit 5 million vehicles charged by March 2025.

The Customers & Products segment's underlying performance reflects activity across these channels; the underlying RC profit before interest and tax for the second quarter of 2025 was $1.5 billion.

Metric	Value/Target	Date/Context
Global EV Charge Points	>39,000	As of 2024 Annual Report
Global EV Charge Points Target	100,000	By 2030
Aral pulse Vehicles Charged	5 million	By March 2025
US EV Charging Investment Commitment	$1 billion	By 2030

Direct sales to industrial customers for hydrogen and CCS

This channel focuses on large-scale, long-term decarbonization solutions for industry. While direct sales volumes aren't explicitly detailed, investment and project scale indicate the channel's direction.

BP is focusing on a select portfolio of 5-7 high-graded hydrogen and Carbon Capture and Storage (CCS) projects this decade. In 2024, BP allocated $1.6 billion to its low-carbon energy business, which includes hydrogen and CCS.

The broader CCS sector saw commercial investment reach a record US $6.4 billion in 2024, providing a market context for BP's direct industrial offerings.

• Low-Carbon Energy Business Investment (2024): $1.6 billion
• Targeted Hydrogen/CCS Projects by 2030: 5-7
• CCS Commercial Investment Context (2024): Record US $6.4 billion
• Projected CCS Reduction (Below 2° Scenario): 5.5Gt of CO2 by 2050

Finance: draft 13-week cash view by Friday.

BP p.l.c. (BP) - Canvas Business Model: Customer Segments

Global B2B industrial users requiring large-scale energy and CCS

This segment is served through the Gas & Low-carbon energy division, alongside traditional energy supply contracts. For the first half of 2025, the Gas & Low-carbon segment generated an underlying replacement-cost (RC) profit before interest and tax of $1.46 billion. BP p.l.c. expects to invest around $10 billion in oil and gas in 2025. In long-term energy scenarios, Carbon Capture and Storage (CCS) is projected to account for 5.5Gt of emissions reduction by 2050 in a Below 2° scenario.

B2B customers are also served by the Oil Production & Operations segment, which delivered an RC profit before interest and tax of $2.1 billion for the third quarter of 2025.

B2B Customer Focus Areas:

• Industrial energy supply contracts.
• Low-carbon solutions deployment.
• CCS project participation.

B2C motorists and EV drivers using retail and charging networks

The customer-facing operations fall under the Customers & Products segment. The underlying RC profit for this segment in the third quarter of 2025 was $1.7 billion. Underlying earnings in the customer business were up approximately 50% year-on-year in the second quarter of 2025. In the United States, BP brands like ARCO/ampm, Amoco, and Thorntons operate nearly 8,000 retail sites across 46 states and the District of Columbia. For EV charging, BP Pulse aims for more than 100,000 charge points globally by 2030, with about 90% being rapid or ultra-fast. As of early 2025, the network included almost 3,500 rapid and ultra-fast charge points. In the UK, more than 50% of BP's customers visit retail sites just for shopping.

Wholesale commodity traders and utility companies

These customers are served through the trading and midstream operations within the Customers & Products segment. The underlying RC profit for the Customers & Products segment in the first quarter of 2025 was $0.7 billion. The products part of the segment saw stronger realized refining margins in the range of $0.1 - $0.3 billion in the third quarter of 2025. The oil trading contribution in the third quarter of 2025 was noted as weak.

Aviation and shipping sectors (B2B fuel and lubricants)

Fuel and lubricant sales to these large transport sectors are part of the Products business within the Customers & Products segment. The segment's overall underlying RC profit for Q3 2025 was $1.7 billion. The company is executing a strategic review of Castrol, its lubricants business.

Shareholders seeking capital growth and income

Shareholders are a key segment targeted by capital allocation policies. BP p.l.c. maintains a policy to target total shareholder distributions of 30-40% of operating cash flow, over time. For the third quarter of 2025, profit attributable to shareholders soared 464% year-on-year to $1.16 billion. The interim dividend per ordinary share was increased by 4% to 8.32 cents following Q3 2025 results. The company also announced a $0.75 billion share buyback for the third quarter, which was completed on October 31, 2025. Analysts forecast BP's earnings will grow a standout 25.3% per year to the end of 2027. As of late November 2025, the stock offered a dividend yield of 5.5%.

Key Financial and Operational Metrics by Segment (2025)

Metric	Segment	Value	Period/Notes
Underlying RC Profit (Underlying Result)	Customers & Products	$1.7 billion	Q3 2025
Underlying RC Profit (Underlying Result)	Gas & Low-carbon	$1.46 billion	H1 2025
RC Profit before Interest and Tax	Oil Production & Operations	$2.1 billion	Q3 2025
Profit Attributable to Shareholders	Group	$1.16 billion	Q3 2025
Reported Profit Attributable to Shareholders	Group	$2.9 billion	H1 2025
Total Shareholder Distributions Target	Shareholders	30-40%	Of operating cash flow, over time
Interim Dividend per Ordinary Share	Shareholders	8.32 cents	Post Q3 2025 announcement
Share Buyback Announced	Shareholders	$0.75 billion	For Q3 2025
US Retail Sites (ARCO/ampm, Amoco, Thorntons)	B2C Motorists	Nearly 8,000	Across 46 states
BP Pulse Rapid/Ultra-Fast Charge Points	B2C EV Drivers	Almost 3,500	As of early 2025

Shareholder Return Metrics:

• Interim dividend per ordinary share: 8.32 cents (post Q3 2025 increase).
• Q3 2025 profit attributable to shareholders: $1.16 billion.
• Targeted shareholder distributions: 30-40% of operating cash flow.
• Forecasted annual earnings growth (to end-2027): 25.3%.
• Reported dividend yield (as of Nov 29, 2025): 5.5%.

BP p.l.c. (BP) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive BP p.l.c.'s spending engine right now. It's all about balancing massive ongoing operational needs with significant future bets, all while trying to chip away at the baseline costs. Here's the quick math on where the money is going.

Capital Expenditure Guidance and Allocation

BP p.l.c. has set a clear capital expenditure (Capex) guidance for the current year. The company continues to expect total capital expenditure to be around $14.5 billion for 2025. Some reports indicate an expectation of approximately $15 billion for 2025. This spending is being reallocated; for instance, capital expenditure in the first quarter of 2025 was $3.6 billion, which was lower than the $4.3 billion spent in the same period of 2024, largely reflecting reduced capital expenditure on low carbon energy.

The investment focus is shifting within that total Capex frame, which remains around $13-15 billion for both 2026 and 2027. Oil and gas investment is being increased to around $10 billion per year.

Structural Cost Reduction and Operating Expenses

A major focus area is driving down the cost base. BP p.l.c. has significantly increased its target for structural cost reductions to between $4-5 billion by the end of 2027, measured against 2023 levels. For context on current spending, the underlying operating expenditure for the third quarter of 2025 was $5,487 million. Over the first nine months of 2025, the cumulative underlying operating expenditure reached $16,248 million.

The company is seeing progress here; for example, the Customers & Products segment reflected lower underlying operating expenditure in the third quarter.

Upstream and Decarbonization Costs

Costs associated with the core upstream business are supported by significant project execution. All six of the major oil and gas projects planned for 2025 are online, with four starting ahead of schedule. The investment in oil and gas is targeted at approximately $10 billion annually.

For the low-carbon transition, the investment strategy is now more selective. Transition investment is planned to be in the range of $1.5 billion to $2 billion per year. This new allocation is over $5 billion per year lower than previous guidance for this area. Furthermore, the low carbon energy segment has a specific structural cost reduction target of at least $0.5 billion per annum by 2027.

You need to see the key financial targets side-by-side to grasp the scale of the cost management effort.

Cost/Target Area	Financial Number/Range	Timeframe/Context
Total Capital Expenditure (Capex) Guidance	Around $14.5 billion	For 2025
Organic Capital Expenditure	Below $14 billion	For 2025
Structural Cost Reduction Target	$4-5 billion	By end of 2027
Oil & Gas Investment (Upstream)	Around $10 billion per year	Through 2027
Transition Investment (Low-Carbon)	$1.5-2 billion per annum	Through 2027
Low Carbon Energy Structural Cost Reduction	At least $0.5 billion per annum	By 2027
Net Debt Target	$14-18 billion	By end of 2027

The cost structure is clearly defined by these forward-looking capital deployment and efficiency goals. You can see the planned reduction in capital expenditure on the transition business compared to the increased focus on funding the core oil and gas assets.

• Upstream production reliability reached 96.8% in the third quarter of 2025.
• Refining availability was 96.6% in the third quarter of 2025.
• The company expects divestment and other proceeds to be above $4 billion in 2025.
• Gulf of America settlement payments for 2025 are expected to be around $1.2 billion pre-tax.

The cost management strategy is underpinned by a commitment to deliver shareholder distributions of 30-40% of operating cash flow over time.

Finance: draft 13-week cash view by Friday.

BP p.l.c. (BP) - Canvas Business Model: Revenue Streams

The core of BP p.l.c.'s revenue generation remains rooted in its traditional energy businesses, though the company is actively managing its portfolio for capital returns. For the nine months of 2025, the company reported an Underlying RC profit of $5.944 billion. This figure is down from the $7.746 billion reported for the same nine-month period in 2024. You see the scale of the major operating segments by looking at their third quarter 2025 results before interest and tax.

Here's a look at the profit contribution from the main operating segments for the third quarter of 2025, which gives you a sense of the revenue-generating power behind those streams:

Revenue Stream Proxy (Segment)	RC Profit Before Interest and Tax (3Q 2025)
Sales of crude oil and natural gas from upstream operations (Oil production & operations)	$2.1 billion
Refined products, lubricants, and petrochemicals (Part of Customers & products)	$1.6 billion
Natural gas sales (Gas & low carbon energy)	$1.1 billion

Beyond core operations, BP p.l.c. continues to realize cash from asset sales as part of its simplification strategy. The company now expects divestment and other proceeds to be above $4 billion in 2025. This is an increase from prior expectations of between $3 billion and $4 billion for the year. For the first nine months of 2025, the actual divestment and other proceeds realized totaled $1.712 billion.

Other specific cash inflows contributing to the overall revenue picture include:

• Other proceeds for the nine months of 2025 included $1.0 billion from the sale of a non-controlling interest in the subsidiary holding the 12% share in the Trans-Anatolian natural gas pipeline (TANAP).
• The company reported $28.0 million in divestment and other proceeds for the third quarter of 2025 alone.
• Underlying earnings in the customers business were up approximately 50% year-on-year in the second quarter of 2025, reflecting strong performance in retail and convenience sales.

Finance: draft 13-week cash view by Friday.