BP P.L.C’s Revenue by Segment (2016-2023)
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This statistic highlights BP P.L.C’s Revenue by Segment, split between Other businesses & corporate, Customers & products, gas & low carbon energy, and Oil production & operations, reported quarterly from Q1 2016 onwards.
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This statistic highlights BP P.L.C’s Revenue by Segment, split between Other businesses & corporate, Customers & products, gas & low carbon energy, and Oil production & operations, reported quarterly from Q1 2016 onwards.
BP P.L.C’s Revenue by Segment
| Segment | 2022 Q1 | 2022 Q4 | 2023 Q1 | YoY Growth (2023 Q1) |
| Other businesses and corporate | 452,000,000.0 | 779,000,000.0 | 738,000,000.0 | 63.27% |
| Customers & products | 42,163,000,000 | 43,072,000,000 | 38,882,000,000 | -7.78% |
| Gas & low carbon energy | 8,166,000,000 | 26,793,000,000 | 17,886,000,000 | 119.03% |
| Oil production & operations | 8,158,000,000 | 6,932,000,000 | 6,153,000,000 | -24.58% |
(All the figures are in USD, except percentage)
The international energy giant BP PLC has been navigating a dynamic and shifting energy landscape. We obtain significant insights on BP’s performance and revenue changes by reviewing revenue statistics for its many business areas during the first quarter of 2022, the fourth quarter of 2022, and the first quarter of 2023.
Other Businesses and Corporate
Revenue in the Other Businesses and Corporate Customers & Products category increased from 452,000,000.0 USD in 2022 Q1 to 738,000,000.0 USD in 2023 Q1, representing a phenomenal 63.27% year-on-year growth. This segment’s development may be ascribed to smart commercial endeavours, market expansion, and creative product offerings that meet the demands of varied corporate clients.
Customers & Products
Revenue in BP’s Customers & Products business fell -7.78% year on year, from 42,163,000,000.0 USD in 2022 Q1 to 38,882,000,000.0 USD in 2023 Q1. This segment’s performance illustrates the problems that traditional petroleum refining and marketing enterprises confront in the face of a changing energy environment and a transition towards cleaner energy sources.
Gas & Low Carbon Energy
BP’s Gas & Low Carbon Energy segment grew at an exponential rate over the examined periods, reaching 17,886,000,000.0 USD in 2023 Q1, up from 8,166,000,000.0 USD in 2022 Q1, representing a 119.03% year-on-year increase. This strong success may be ascribed to BP’s focus on low-carbon and renewable energy solutions, as well as increased worldwide demand for environmentally friendly energy sources.
Oil Production & Operations
Revenue in the Oil Production & Operations section fell by -24.58% year on year, from 8,158,000,000.0 USD in 2022 Q1 to 6,153,000,000.0 USD in 2023 Q1. This revenue decline may be attributable to several causes, including market dynamics, shifting oil prices, and the company’s move to a more diverse and low-carbon energy portfolio.
About the Company
BP plc is a large integrated oil and gas company based in London, United Kingdom. BP works across the whole energy value chain, including exploration, production, refining, marketing, and renewable energy, and has a rich history extending back over a century. The corporation provides energy goods, including oil, gas, and low-carbon solutions, to millions of clients globally. BP is dedicated to minimizing its carbon impact and moving the world towards a low-carbon future. As a significant actor in the energy business, BP is always seeking innovation and sustainable practices to properly fulfil the world’s increasing energy demands.
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