USA: BP Emphasises Economic Role US Economic Impact of BP

Editor: Alexander Stark

In its fourth Economic Impact Report, BP emphasises its important role as an economic and social player in the US.

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In 2015, BP produced 643,000 barrels of oil equivalent a day in the U.S.
In 2015, BP produced 643,000 barrels of oil equivalent a day in the U.S.
(Source: BP)

Houston/USA — According to the report, BP injected $ 80 billion into the American economy last year through its wide-ranging business activities.

Released Monday, the report details 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.

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.

According to the report, BP donated more than $ 147 million over the past five years to community groups through a wide range of sponsorships, events and activities.