BP retains its API membership

According to a report from Hart Energy on May 11, British Petroleum said on May 10 that after the largest oil and gas trade lobby in the United States resolved some differences with the British energy company on climate change issues, the The company will remain a member of the American Petroleum Institute (API).

BP plans to significantly reduce oil production and increase renewable energy production capacity in the next 10 years.

API is facing increasing pressure from member companies and event organizations to change policies related to climate change and drilling regulations.

BP said that API supports the federal government to formulate regulations to limit methane emissions, and supports carbon pricing and increased transparency, which makes it "encouraged.

BP stated in the report: “API’s progress is sometimes uneven, but overall, the organization has made considerable progress in the past year and is moving in the right direction.

London-based BP, under the leadership of CEO Bernard Looney, withdrew from the major U.

BP will release a comprehensive review report on API and other association members next year.

In January, Total SA of France became the first large global energy company to withdraw from API due to differences in climate policy and support for the relaxation of drilling rules.

　　Total’s position has put pressure on other European oil giants, which have developed strategies to significantly reduce carbon emissions.

　　BP’s interim report also reviewed the four other associations it participated in, including the Australian Petroleum Association and the Canadian Petroleum Producers Association, which are partly consistent with BP’s policies.

　　The company said it was encouraged by the progress made by the four organizations on the climate stance.

　　Wang Jiajing excerpted and translated from Hart Energy

　　The original text is as follows:

　　BP Sticks with API after Climate Shift by US Oil Lobby Group

　　BP Plc said on May 10 it will remain a member of the American Petroleum Institute (API) after the largest US oil and gas trade lobby group addressed some differences with the British energy company over climate change.

　　BP, which plans to sharply cut its oil output and boost its renewable energy capacity over the next decade, said in a report that despite “uneven progress,” the API was “heading in the right direction.

　　The API has faced growing pressure from member companies and activist groups to change its policies relating to climate change and drilling regulations.

　　The trade group started to shift some of its positions as the climate-focused Biden administration came to power this year.

　　BP said it was “encouraged” by the API's support for federal regulation on limiting emissions of methane, a potent greenhouse gas and its support for carbon pricing as well as improving its transparency.

　　"API's progress has been uneven at times but, on the whole, the organization has moved considerably over the past year and is heading in the right direction," BP said in the report.

　　"We will continue to make our case—as members—to influence API on climate and many other areas relevant to our business in the US"

　　London-based BP, led by CEO Bernard Looney, last year quit the main US refining lobby and two other trade groups but stuck with the API despite saying it was only “partially aligned” with its policies.

　　BP will publish a comprehensive review of its membership of the API and other associations next year.

　　France's Total SA in January became the first major global energy company to quit the API due to disagreements over its climate policies and support for easing drilling rules, saying it would not renew its 2021 membership.

　　Total's stance put pressure on other European oil majors that have set out strategies to sharply reduce carbon emissions.

　　Royal Dutch Shell Plc also chose to extend its API membership despite “some misalignment" with its climate stance.

　　BP's interim report also reviewed its participation in four other associations which were partly aligned with its policies including the Australian Institute of Petroleum and the Canadian Association of Petroleum Producers.

　　BP said it was encouraged by progress made by all four groups over their climate stances.