What BP Can Learn From Orsted: The Route to Low-Carbon Profits

By [email protected] The first step to change is admitting you’ve got a problem.

“BP gets it.” That was one of several mantras to appear during new CEO Bernard Looney’s two-and-a-half-hour flag-planting welcome party on Wednesday.

Looney takes over from veteran Bob Dudley at a time of rapid shifts in the energy sector that many felt BP was failing to navigate. Fixing that failure will be the founding principle of Looney’s tenure, and it’s a historic opportunity.

BP needs to “reinvent itself” to “change, and change profoundly,” said Looney. The BP lifer described his own company as an “obstacle” to solving the climate crisis.

Crucially, BP’s commitment

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