BP earnings soar as energy firm profits from rising prices

and reduce reliance on fossil fuels as the company seeks to cut net carbon emissions to zero by 2050. The company said it increased its pipeline of renewable energy projects by 10% in the first half of the year, primarily through an option to develop offshore wind farms off the east coast of Scotland and a global solar energy initiative.

“Our people have continued to work hard throughout the quarter helping to solve the energy trilemma — secure, affordable and lower carbon energy,” Chief Executive Bernard Looney said. “We do this by providing the oil and gas the world needs today — while at the same time investing to accelerate the energy transition.

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