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Oil and gas will be a big part of the mix for decades to come, said BP CEO Bob Dudley, according to the message posted on the company’s website.

“But the fuel mix is changing, along with the way resources are produced and delivered as we move to lower carbon and look to advance that transition,” he added.

Dudley pointed out that one thing that’s not so different is the world’s demand for energy – which is expected to keep on growing.

In order to meet that growing energy demand, all forms of energy will be needed, he added.

“Gas is going to be increasingly important, as a lower carbon fuel, and our portfolio is shifting towards more gas as we put together the right projects,” said BP CEO. “We’re in a new oil price environment – one that demands a different way of thinking to stay competitive.”

BP is a global energy company with wide reach across the world’s energy system. It has operations in Europe, North and South America, Australasia, Asia and Africa.

It is the largest foreign investor in Azerbaijan's oil and gas sector and the operator of the Azeri-Chirag-Gunashli offshore oil and gas block, as well as the Shah Deniz gas and condensate field.

BP is also a participant of such pipeline projects as the Baku-Tbilisi-Ceyhan and South Caucasus Pipeline.

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