Our New Energies organisation focuses on new fuels for transport, such as advanced biofuels and hydrogen, as well as charging for battery electric vehicles. It also focuses on power from low-carbon sources such as wind and solar, as well as natural gas. Since setting up New Energies in 2016, we have invested around $1.6 billion to date in power and new fuels. In the period between 2021 to 2025, our investments in New Energies could average $2-3 billion a year.
Tax in New Energies
In 2018, we assessed several projects in this new and emerging business area but these have not yet had a material impact on profits or taxes.