BP Joins IBM Quantum Network To Advance Use Of Computing In Energy

(Alliance News) - BP PLC on Monday said it has joined the IBM Quantum Network to further the use ...

Alliance News 15 February, 2021 | 11:23AM
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(Alliance News) - BP PLC on Monday said it has joined the IBM Quantum Network to further the use of quantum computing in the energy industry.

The London-based oil & gas company said it will now have access to IBM Corp's quantum expertise and software and cloud-based access to the most advanced quantum computers available via the cloud.

FTSE 100-listed BP said it will work with New-York-based computer hardware company IBM to explore using quantum computing to solve business and engineering challenges, and explore the potential applications for driving efficiencies and reducing carbon emissions.

"Next-generation computing capabilities such as quantum computing will assist in solving the science and engineering challenges we will face, enabling us to reimagine energy and design new lower carbon products," said Morag Watson, senior vice president, digital science & engineering for BP.

BP shares were trading 2.3% higher in London on Monday at 267.85 pence each. IBM shares closed 0.1% lower in New York on Friday at USD120.80 each but gained 0.1% in after hours trading.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BP PLC 302.95 GBX -0.18
International Business Machines Corp 133.59 USD 0.76

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