One of the bibles of the oil business is to change hands with BP calling time on its publication of the Statistical Review of World Energy after more than 70 years.
Energy Institute, an industry body, is taking over the publication from the oil giant, Reuters reported, with BP letting it go to allow chief economist Spencer Dale and his team more time to focus on its towards shift greener sources of energy
This year's report will be published in June and be titled The Energy Institute Statistical Review of World Energy, BP and the EI said in a statement.
"The report plays into our role as a trusted and neutral player helping the world navigate the energy transition," EI Chief Executive Officer Nick Wayth told Reuters.
BP will support the new report alongside accounting firm KPMG and consultancy Kearney.
Data compilation for the report will continue to be undertaken by the Centre for Energy Economics Research and Policy at Heriot-Watt University, said the statement.