BP, America’s Largest Energy Investor in the US
Over the past five years, BP has invested nearly $50 billion in the US – more than any other energy company. BP is a leading producer of oil and gas and provides enough energy annually to light nearly the entire country for a year. Employing more than 18,000 people in all 50 states, BP supports around 200,000 additional jobs through all of its business activities.
BP’s business activities in the US helped generate close to $143 billion in economic impact in 2013 and currently support nearly 220,000 American jobs, according to the company’s US Economic Impact Report 2014.
Released BP’s new report provides a detailed, state-by-state look at the breadth and impact of the company’s activities in America. Since 2009, BP has invested nearly $50 billion, making it America’s largest energy investor. In 2013 alone, BP spent $22 billion with vendors across the country on products and services, ranging from offshore drilling rigs to gasoline-producing equipment for its refineries.
“No energy company has invested more in the US over the past five years than BP,” said John Mingé, BP America chairman and president. “Our investments not only provide the energy to power the nation, but they also support hundreds of thousands of jobs that fuel the economy.”
BP’s business investments in the US include oil and natural gas exploration and production, fuel and chemical refining, lubricants, shipping, trading, renewable energy production and cutting-edge technology research and development. The US also is home to a number of operations that serve BP’s global businesses, such as the Center for High-Performance Computing in Houston, which houses the world’s largest supercomputer for commercial research.
BP produces more than 628,000 barrels of oil equivalent a day – enough to light nearly the entire country. The company’s three northern-tier refineries in Indiana, Ohio, and Washington are together capable of processing more than 742,000 barrels of oil per day. Also, BP’s chemical and lubricant facilities supply materials necessary for modern life, including greases and engine oils marketed under the Castrol brand and chemicals used in fabrics and packaging.
In addition to physical assets and energy production, the US is home to nearly 40 percent of BP’s publicly traded shares and more BP employees than any other nation. The US also is a center for BP research and recruitment. The company will spend $60 million this year on academic research, educational initiatives, and recruitment activities at more than 50 US universities.
At the corporate level, BP contributes more than $30 million a year to charitable and nonprofit organizations such as United Way of America and the National Multiple Sclerosis Society. This includes contributions through BP’s unique Fabric of America program in which BP employees may annually designate $300 of corporate funds to a nonprofit organization of their choice within the United States. Since the fund’s 2007 inception, BP has given more than $26 million on behalf of our employees, helping to support roughly 19,000 organizations in all 50 states.
The investments and spending detailed in the report do not include costs associated with cleanup and restoration activities in the Gulf of Mexico, or claims payments related to the Deepwater Horizon accident.
Employees: More than 18,000 employees
Total Jobs Supported: Nearly 220,000 jobs
Employee Payroll and Benefits: $5 billion, including pensions and other post-employment costs
National Economic Impact Nearly: $143 billion in 2013
BP U.S. Investment since 2009: Nearly $50 billion – the most of any energy company
Money Spent with Vendors: More than $22 billion in 2013
Community Investment: $30 million in corporate contributions annually
Read More: BP’s full US Economic Impact Report 2014