We have a new report this morning that: "BP contributes $143 billion to the U.S. economy and supports nearly 220,000 jobs". In that report, BP America's Chairman and President John Mingé (NGP Photo) writes of Alaska that, " We are spending heavily to continue developing the giant Prudhoe Bay field after selling interests in four other Alaska fields. We also are working to advance the Alaska LNG project, which will help transport North Slope gas to global markets. Alaska voters supported these efforts by keeping in place a historic tax reform measure that encourages the industry to invest more in the state. -dh
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WASHINGTON – BP’s business activities in the U.S. helped generate close to $143 billion in economic impact in 2013 and currently support nearly 220,000 American jobs, according to the company’s U.S. Economic Impact Report 2014.
Released today, 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.
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"BP operates more fields that produce more oil than any other energy company in the state. (See Canadian Investment here. -dh) Our 13 oilfields on the North Slope (including Prudhoe Bay, Endicott, Northstar and Milne Point), account for about two thirds of Alaska oil production. We also hold the greatest ownership share in the 800-mile long Trans Alaska Pipeline System (TAPS). "We are also one of Alaska’s largest private sector investors, taxpayers and employers. In 2012, BP Alaska paid $2.8 billion in taxes and royalties and other government payments to the State of Alaska. Furthermore, BP is one of the top 10 employers in Alaska, with 2,300 employees and more than 6,000 contractor jobs." (From BP Alaska web page. ALSO, SEE BP COMMITMENT TO VETERANS! DH |
“No energy company has invested more in the U.S. 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 U.S. 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 U.S. 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 U.S. is home to nearly 40 percent of BP’s publicly traded shares and more BP employees than any other nation. The U.S. 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 U.S. 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.
To view or download BP’s full U.S. Economic Impact Report 2014, please visit this page.
BP in the U.S. – By the Numbers
* Employees: More than 18,000
* Total Jobs Supported: Nearly 220,000
* National Economic Impact: Nearly $143 billion in 2013
* BP U.S. Investment since 2009: Nearly $50 billion
* Money Spent with Vendors: More than $22 billion in 2013
* Community Investment: $30 million annually
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