BP has said it will deliver on " one of the strongest promises in recent history " by investing $ 500 m in low carbon solutions , according to Group CEO David Smith . Higher oil prices and increased crude production boosted full - year underlying profits to $ 6.2bn , and the company plans to follow - up its recent success in the solar market with the announcement of carbon targets in the coming weeks . BP also said it plans to add rapid charging points at its UK power stations . Carbon targets, including one for methane, will be announced by BP in the next two months. However , its renewables moves are dwarfed by rival Shell , which plans to invest $ billion in new energies .
BP has said it will deliver on " one of the strongest promises in recent history " by investing $ 500 m in low carbon solutions , according to Group CEO David Smith . Higher oil prices and increased crude production boosted full - year underlying profits to $ 6.2bn , and the company plans to follow - up its recent success in the solar market with the announcement of carbon targets in the coming weeks . BP also said it plans to add rapid charging points at its UK power stations . However , its renewables moves are dwarfed by rival Shell , which plans to invest $ billion in new energies .