China Direct

BP signs MoU to help China go green

CBI member, BP, has announced that it has signed an MoU with one of China’s leading solar project developers, JinkoPower Technology (JinkoPower), to provide integrated decarbonised energy solutions and services to customers in China.

The partnership aims to see BP and JinkoPower develop an innovative, integrated energy solution business, delivering renewable power and “Energy-as-a-Service” digital tools for commercial and Industrial customers in China. 

China is the largest and fastest growing renewable energy market in the world, and the country aims to reach 50% of power generation from non-fossil fuels by 2030. JinkoPower is one of the largest private solar project developers in China, and Jinko Solar has been the leading global solar module supplier for four consecutive years.

According to BP’s press statement, this MoU will bring together the skills and experience of both partners in solar development, distributed energy resources (DER) and digital technology, to deliver energy solutions to help decarbonise and optimise customers’ operations.

The MoU was signed in Shanghai last month by Simon Yang, BP China president and BP senior vice president, regions, cities & solutions for China and Xiande Li, chairman of JinkoPower and Jinko Solar. It was witnessed by Dev Sanyal, BP executive vice president, gas & low carbon energy, and other attending leaders of both sides.

Dev Sanyal said: “BP is committed to reimagining energy for people and the planet, and to supporting the energy transition to a low carbon future. Our partnership with JinkoPower aims to leverage BP’s leading experience in energy management and digital platforms, with JinkoPower’s world-class solar capabilities, to provide customers with integrated, low carbon Energy-as-a-Service offers.”

Simon Yang, BP China president and BP senior vice president, regions, cities & solutions for China, commented: “China is the world’s largest and most advanced solar market and one of the most important markets for bp to achieve its low carbon ambitions. We look forward to working with JinkoPower on renewable energy solutions to further contribute to the country’s energy transition, environmental protection and ecological progress.”

The partnership supports BP’s ambition to become a net zero carbon company by 2050 or sooner and to help the world get to net zero.

To read the press release in full, please follow the link.

BP deepens China partnership with CRC

CBI member, BP has announced that it has signed a strategic cooperation agreement with one of China’s leading producers of PET (polyethylene terephthalate) plastic, China Resources Chemical Innovative Materials Holdings Limited (CRC). CRC is already an important customer for BP’s production of PTA (purified terephthalic acid) in China.

PET is a type of hydrocarbon-based polymer plastic, used widely for beverage and food packaging, and PTA is a key raw material for its production.

BP and CRC have agreed to explore opportunities to strengthen their co-operation on PTA sourcing and to work together along the polyester value chain. As part of this agreement, BP also agreed to invest in and become a shareholder of CRC.

CEO for BP’s Global Aromatics Unit, Luis Sierra, said: “BP and CRC already have a close and longstanding relationship and we look forward to building on it further. We can see opportunities to work together to streamline and increase collaboration along the polyester value chain, improving flexibility and efficiency and creating value.” 

Xiaoping Yang, BP China Chairman and President, added: “By deploying leading technologies and business models with CRC in the polyester value chain, we hope to create a more competitive and sustainable future together.”

BP is a global leader in the production of PTA, having developed its own highly efficient proprietary technology, which is more energy efficient, uses less water and produces less solid waste than similar technologies on the market. The company’s biggest PTA production site globally is in fact located in China, in the southern city of Zhuhai, with an annual production capacity of 2.4 million tonnes.

BP sets net zero 2050 ambition

Please find CBI Member BP's 2050 Net Zero ambitions (bilingual) attached for your reference.

Our sincere thanks to BP's China team for sharing with CHINA DIRECT.

Download Bp-sets-ambition-for-net-zero-by-2050-fundamentally-changing-organisation-to-deliver

Download 新闻稿_BP壮志满怀，提出到2050年实现净零的全新远景

 

BP makes multi-million-pound AI low carbon tech investment in China

 

 

 

CBI member, BP has announced that it has invested £2.7 million in an artificial intelligence technology firm based in Shanghai, pioneering research into low-carbon power, energy storage, the wider digital energy value chain, and improving the energy usage of buildings.

 

BP’s high-tech investment arm, BP Ventures, joined CLP Innovation Ventures and JAFCO Asia in contributing to R&B Technology’s latest funding round. The deal will also see BP Ventures investment manager, Jin Hu, take up a director seat on the board of R&B Technology.

 

R&B’s energy management systems are designed to predict, control and improve a building’s energy use, supporting BP Alternative Energy’s focus on supporting industry’s transition towards low-carbon power.

 

BP Ventures has so far invested more than £400 million in more than 45 companies globally. The deal with R&B Technology marks BP Venture’s second foray into opportunities in advanced mobility in China, following a £7.6 million investment in NIO Capital in 2018.

 

Dev Sanyal, BP Alternative Energy chief executive and executive vice president, regions, said: “Digital technology, smarter consumers and bold decarbonisation targets are together rapidly changing the world's energy systems. BP is determined to help meet society's demands for more energy, delivered in new and cleaner ways. Our investment in R&B, a business developing and deploying innovative technology to improve energy efficiency, is fully aligned with this strategy.”

 

Through its venturing business, BP is leveraging a wide range of instruments in technology-related businesses that have the potential to reduce greenhouse gas emissions in BP’s operations, improve products and services to help customers lower their emissions, and creating new low-carbon businesses.

 

Graham Howes, managing director of BP Ventures, Asia, said: “Improving the energy efficiency of buildings will be crucial for the transition to a lower-carbon world. […] the commercial and industrial buildings sector in China is large and still expanding, so the potential to affect change is significant. R&B’s technology is aimed firmly at this opportunity.”

 

BP partners with DiDi to charge China’s new energy vehicle network

 

CBI member, BP has announced that it will enter into a joint venture with China’s leading ride hailing service provider, DiDi. The joint venture company will focus on developing new energy vehicle charging infrastructure across China to cater to the country’s developing NEV market.

Initially, the joint venture partnership will only focus on the installation and development of charging infrastructure. However, both companies have reported plans to extend the JV to include collaboration in areas such as loyalty programmes, convenience services and vehicle maintenance.

Yang Xiaoping, Chairwoman and President of BP China said: “China has provided tremendous growth opportunity for BP. Through cooperating with DiDi, BP will be able to actively provide differentiated products to cater to China’s fast-growing new energy vehicle charging market and further expand our brand presence in China.”

Fan Tu, CEO of BP’s downstream business said, “China is the world’s largest new energy vehicle market and presents tremendous opportunity for determining a business model that is both innovative and scalable. [BP] believes that entering into a joint venture with DiDi is the right way to respond to this fast-changing market. Moreover, by being in partnership with DiDi, BP will be to further expand its advanced mobile travel business globally, promoting energy transformation and low carbon solutions across the world.”

BP’s first NEV charging station has already been installed in Guangzhou in Guangdong Province and has the capability to charge 10 cars simultaneously on currents ranging between 60-100kw. It will subsequently be re-branded in light of the JV and serve as a model for the company’s expansion across China.

 

BP fuelling China's regional growth

 

CBI member, BP has announced that it has opened a brand-new BP-branded petrol station in Hebei Province.

BP operates in Hebei Province in partnership with Dongming Petrochemical Company, and the two companies have already opened one petrol station in the province together. BP’s second petrol station is located in Tangshan City, in the Lubei District.

The new service centre will provide BP’s customers with “high-quality fuel and high-quality services.” The station will provide customers with ready-made, BP-branded ‘Wild Bean’ Coffee, delivered to the car, as well as free WiFi across BP stores, allowing customers to easily log in and enjoy the BP membership reward scheme, which entitles them to benefits in partnership with 6,000 companies across the country.

BP China Gas Stations, President, Retail, Hannah Hao, said: [BP] welcomes Tangshan customers to our new petrol station. We believe that consumers will have a pleasant refuelling and user experience when using our new facilities.”

The Tangshan Petrol station is BP’s second station in Hebei Province. Two further petrol stations are under construction within the province, in Tangshan City’s Kaiping District, and the Luancheng District of Shijiazhuang City. The completion of these stations marks a step closer to BP achieving its goal of opening 1,000 petrol stations in China over the next 5 years. 

BP flying high with China Aviation fuel deal

 

CBI member, BP has announced that its subsidiary, BP Aviation, has entered into a joint venture agreement with China Aviation Oil Group Company, to develop the provision for the distribution of aviation fuel in Southwest China; principally Sichuan, Guizhou and Chongqing.

After receiving regulatory approval from the relevant authorities, the joint venture company will be committed to supporting the growth and development of China’s commercial aviation industry. There is huge market potential, considering that China’s commercial aviation industry is expected to boom between now and 2020, with aircraft in China’s airspace racking up over 2 million flying hours and the number of planes in China’s skies numbering over 5,000.

John Platt, CEO BP Aviation said: “[BP] are pleased to extend [what has been a] successful partnership between BP Aviation and China Aviation Oil. Through combining BP Aviation’s world-renowned business management best practise and innovative fuelling technologies, with the business networks and local expertise of China Aviation Oil, our two companies can look forward to continuing to deliver long-term sustainable development for China’s aviation industry.”

Prior to the signing of this latest joint venture, BP Aviation has managed two other joint venture contracts with China Aviation Oil; these are Shenzhen Chengyuan Aviation Oil and Huanan Blue Sky Aviation Oil Company. Through partnering with these two companies, BP provides aviation fuel to 29 airports in central and southern China.

Yang Xiaoping, Chairman and President of BP China said: “This newly signed joint venture contract not only demonstrates BP’s continued confidence in the China market, but also reaffirms BP’s commitment to supporting China’s transformation through continuous innovation and industrial growth.

BP announces new Tianjin Lubricant Plant Investment

 

CBI Member BP has announced that it has started the construction of a new lubricant blending plant in Tianjin.

The new plant is BP’s largest investment on a single lubricant blending plant to date and will see BP spend $214 million.

BP aims to bring the plant into operation by the end of 2021, it will specialise in producing grease and diverse kinds of lubricants for automobile, manufacturing, navigation and aviation with an estimated annual output of 200,000 tonnes.

BP has identified premium lubricants as a key area for potential growth due to rising demand from the China market. The Tianjin plant will be the third processing centre BP has opened in the Mainland.

It will be strategically located within the Tianjin Economic-Technological Development Area, in Binhai New Area, Tianjin, leveraging Tianjin’s location as a key transport hub and enabling BP to ensure a stable supply of raw materials and distribution of products.

Please read more here.

BP and China’s NIO Capital to explore opportunities in advanced mobility

 

CBI member BP and NIO Capital today announced they have signed a memorandum of understanding (MOU) to establish a long-term partnership to jointly explore opportunities in advanced mobility in China and internationally.

This is expected to include potential investment opportunities in areas including electric vehicles, new energy infrastructure, intelligent automotive systems, connected vehicles and new materials including batteries, as well as other areas of possible mutual interest.

Tufan Erginbilgic, chief executive, BP Downstream, said: “Advanced technology is now driving rapid changes in transportation and China, which is seeing some of the fastest growth in new energy vehicles, is a key market for BP. We are looking to develop fast-charging solutions through partnering and to further develop new and innovative consumer offers. We expect this partnership will extend our participation in advanced mobility, bringing benefits to our retail customers in China.”

Please read more here.

BP signs China Shandong Joint Venture

 

BP and Shandong Dongming Petrochemical Group (Dongming Petrochemical) announced the signing of joint venture agreements to develop a leading branded retail fuels and convenience business covering the Chinese provinces of Shandong, Henan and Hebei.

Subject to regulatory approvals, the partnership with Dongming Petrochemical will start operations in 2018 and the network is expected to grow to 500 sites in 10 years. BP has a 49% equity share of the joint venture and Dongming Petrochemical the remaining 51%.

“New market growth is one of the key strategic priorities for BP’s fuels marketing business. Our retail business offers customers a differentiated experience through our brand, high-quality products and services,” said Tufan Erginbilgic, BP’s chief executive for Downstream.

Please read more here.