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Driving innovation

In 2021, we spent $815 million on research and development (R&D), compared with $907 million in 2020. In 2021, we started work on 182 R&D projects with universities, compared with 124 in 2020. 

Our R&D activities are key to achieving our net-zero emissions target, in step with society. In 2021, our R&D expenditure on projects that contributed to decarbonisation was around $328 million, representing around 40% of our total R&D spend. This includes expenditure on reducing greenhouse gas emissions:

  • from our own operations, for example by improving energy efficiency and electrification;
  • from the fuels and other products we sell to our customers, for example biofuels, and synthetic fuels and products made from low-carbon electricity, hydrogen produced using renewable sources or using natural gas combined with carbon capture utilisation and storage (CCUS);
  • by CCUS; and
  • by creating nature-based solutions (NBS) to offset emissions.

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research and development
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