BP

The oil and gas sector has been put on notice by global bank BNP Paribas, which has warned them in a new report that the “irresistible” economics of combining renewables with EVs is “the death toll for petrol”.

BP is to expand its international EV footprint, striking a deal with Chinese firm Didi Chuxing (DiDi).

A host of the country’s largest energy firms have backed the UK’s bid to host next year’s COP climate conference and called on the government for further support.

A host of energy and technology giants have issued a rallying call for the government to get behind a bid to establish an ultra-rapid EV charging network that spans the country.

BP Chargemaster has opened a new rapid EV charging hub in Milton Keynes, claiming it to be the largest of its kind in the UK.

Renewables will be the world’s principal source of power by 2040 and are penetrating world grids faster than any other energy source in history, O&G major BP has said.

Oil and gas majors are expected to make significant plays in the solar sector in the coming years as continued cost reductions threaten their margins.

BP has invested in PowerShare, one of China’s largest electric vehicle charging solutions providers, further bolstering its EV play.

Local energy marketplaces and their interaction with existing licensing regimes have proven a particular area of interest within Ofgem’s regulatory sandbox initiative, with BP and British Gas named amongst its new participants.