Shell has launched a new “accelerated” strategy to get to net zero, and confirmed that oil production peaked for the company in 2019.
Oil supermajor BP has unveiled a five year strategy for growth.
BP is focusing "squarely on the future" with plans for growth based on $55 dollar oil, according to chief executive Bob Dudley.
BP's downstream business has delivered $3bilion in savings since the oil price started to plunge in 2014.
BP plans to bring seven projects onstream in 2017.
BP's five year strategy includes plans for investing further into alternative energy markets.
Oil major BP is laying out plans for the next five years.
Oil giant BP is to set out its plans for growth with forecasts based on mid $50 oil.
It is well recognised that at a national and international level, the oil and gas industry has been extremely hard hit by the downturn in commodity price. More than 350,000 jobs have been lost since oil prices started to tumble in 2014, and Oil & Gas UK has estimated 120,000 jobs linked to the North Sea will have gone by the end of this year.