BP: upstream segment revenue 2023

BP generated 75.2 billion U.S. dollars in revenues through its upstream and low-carbon energy business segment in 2023. This was a decrease compared to the previous year. 2020 saw a 20 billion U.S. dollars drop as a result of that year's oil crisis brought about by the coronavirus pandemic. In 2021, BP restructured its segments, including low-carbon products, such as low-carbon electricity, bioenergy, carbon capture and storage, and hydrogen within its gas upstream sector. Low-carbon products were previously categorized under BP's corporate & other business segment. BP is a globally operating oil and gas company, headquartered in London, United Kingdom.

Revenue of BP's upstream business segment from 2010 to 2023 (in million U.S. dollars)

Characteristic	Revenue in million U.S. dollars
2023	75,201
2022	89,448
2021*	55,359
2020	34,197
2019	54,501
2018	56,399
2017	45,440
2016	33,188
2015	43,235
2014	65,424
2013	70,374
2012	72,225
2011	75,754
2010	66,266

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Release date

March 2024

More information

Region

Worldwide

Survey time period

2010 to 2023

Special properties

includes sales and other operating revenues.

Supplementary notes

* In January 2021, BP restructured its segments. Therefore, from 2021 onwards, figures include the gas & low-carbon energy and oil production & operations.
In addition to upstream gas products, the segment includes low-carbon products (low-carbon electricity, bioenergy, CCUS, and hydrogen). Low-carbon products were previously incorporated under the Corporate & other business segment.

This statistic was assembled from several publications of the same source.

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