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BP p.l.c.
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=== Growth of the Business === * '''B3''' Declining oil prices: The oil and gas industry is cyclical, and oil prices have been declining in recent years. This could impact BP's ability to grow its business and generate profits. * '''C1''' Shifting demand: The demand for oil is declining in some parts of the world, as countries transition to cleaner energy sources. This could also impact BP's growth prospects. ** European Union has committed to reducing its reliance on fossil fuels by 55% by 2030. This could impact BP's demand for oil in the future. * '''B2''' New entrants: New entrants to the oil and gas industry could pose a challenge to BP's market share. * '''B3''' Technology: BP is facing increasing competition from new technologies, such as electric vehicles and renewable energy. If these technologies become more widely adopted, they could displace BP's traditional oil and gas businesses.
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