Shell and BP Look to Monetize Their Digital Technologies

This article first appeared on the BNEF mobile app and the Bloomberg Terminal.

  • Digital IP is a way to create new revenue for oil companies
  • Shell and BP take different approaches toward digital tech

Oil and gas companies have looked beyond their own sector to diversify revenue streams, most notably in power. Now they are using digital technology expertise as another way to build new revenue.

Shell and BP are two leading examples. Shell estimates that digital tools will contribute to one-fifth of its commercial revenue growth by 2025. BP has spun off its seismic analytics technology, which has achieved $100 million savings for the company, among three other startups in its portfolio.

The two companies have different approaches. Shell uses digital technology to create complementary services for existing customers, boosting downstream sales. BP sells technologies to oil peers and other industries such as construction and smart cities, creating new revenue decoupled from its usual clients.


As oil majors struggle with a demand crisis, diversifying into selling technology expertise could be one way forward. We would expect oil firms to sell software they have proven internally, to smaller peers and companies in emerging markets.

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BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
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