BP issues fourth annual U.S. Economic Impact Report highlighting role as America’s top energy investor
New report shows company continues making major contributions to the U.S. economy, domestic energy supply and community despite lower oil prices
HOUSTON — BP injected $80 billion into the American economy last year through its wide-ranging business activities, according to the company’s U.S. Economic Impact Report 2016.
Released Monday, the report offers a comprehensive overview of BP’s investments and operations in the United States, detailing how BP spent $20 billion with 13,000 vendors nationwide, directly employed about 14,000 people and supported 130,000 more jobs in 2015. The report also outlines the company’s charitable donations to community initiatives, including education, veterans and conservation programs.
“Even as our industry deals with one of the most severe and protracted oil price downturns in recent history, BP remains an important source of energy, jobs and investment for communities across the U.S.,” said BP America Chairman and President John Mingé.
BP’s U.S. business activities include oil and natural gas exploration and production, fuel refining, petrochemicals, lubricants, shipping, marketing and trading, renewable energy, and technology research and development. The U.S. also is home to a number of operations that serve BP’s global businesses, including the Center for High-Performance Computing in Houston, which houses one of the world’s largest supercomputers for commercial research.
In 2015, BP produced 643,000 barrels of oil equivalent a day in the U.S. — which represented roughly a quarter of the company’s global output — from fields in the deepwater Gulf of Mexico to Alaska’s North Slope and across the lower 48 states.
BP’s three oil refineries in Indiana, Ohio and Washington can process up to 744,000 barrels of crude oil per day — enough to meet the needs of New York, Illinois or Pennsylvania. BP’s petrochemical 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. BP also is the leading marketer of natural gas in North America, selling enough to meet the combined daily needs of France, Germany, Spain and the United Kingdom.
Elsewhere, BP’s U.S. wind farms can generate enough electricity to power all the homes in a city the size of Philadelphia; BP’s shipping business transported more than 46 million tons of cargo to or from U.S. ports last year; and the company operates an oil and gas pipeline network that covers nearly 4,000 miles across America.
BP donated more than $147 million over the past five years to community groups through a wide range of sponsorships, events and activities.
To view or download BP’s full U.S. Economic Impact Report 2016, please visit: www.bp.com/EIR.
BP in the U.S. - By the numbers:
- Employees: About 14,000 employees
- Additional U.S. jobs supported: More than 130,000 jobs
- National economic impact: More than $80 billion in 2015
- BP's U.S. investment since 2006: More than $90 billion – the most of any energy company
- Money spent with vendors: Nearly $20 billion in 2015
- Community investment: $147 million in contributions (2011-2015)
About BP
Over the past 10 years, BP has invested more than $90 billion in the U.S. – more than any other energy company. BP is a leading producer of oil and gas and produces enough energy annually to light nearly the entire country for a year. Employing about 14,000 people across the country, BP supports more than 130,000 additional jobs through all of its business activities.
Further information
BP Press Office, Houston
Phone: +1 281 366 4463
Email: uspress@bp.com