BP CEO: Hydrogen is the most exciting technology—IP Week

Bernard Looney is confident about the role of renewables in the future of BP, but insists oil and gas still play a role in every scenario

BP CEO Bernard Looney identified hydrogen as the emerging energy transition solution he is most interested in at IP Week this morning. He said new technologies around hydrogen and carbon capture and storage will play a vital role in the transition as long as they can achieve scale. “The technology that has the most potential I think in the medium-to-longer term is hydrogen,” said Looney. “As we look at 2030 [and beyond]… I think hydrogen will play a significant role whether it is in industrial, heating, mobility etc. BP intends to play a major role in that. We would like to capture about 10pc of these key markets when they evolve.” The CEO has made renewables a key component of his dual busi