Collaborating for Competitiveness

Mr. Looney argues we must have confidence in the face of technological challenges, likening the industry’s current situation to that of medieval builders who began the Florence cathedral knowing they didn’t have the technology to finish the dome—but believed they would by the time it was needed.

Mr. Looney described recent industry changes as being structural, not just cyclical, citing several reasons, including: an abundance of resources; digital technology’s coming of age; the transition to a lower-carbon world; and changes in transportation, including electric cars and widespread car sharing.

Let’s create a more contemporary modern upstream sector that will attract not just the next generation, but also the generation after that.

Bernard Looney, Chief Executive, Upstream BP

He gave us insight into how BP is responding with a transformational operating agenda based on agility, digitization, and creating a corporate mindset suitable to a more competitive industry. He also provided examples of how these are enabled by partnerships and collaboration, which are essential for competitiveness.

Collaborating for Competitiveness

Keynote proceeding