BP in the United States
After a challenging year, BP is determined to earn back the trust of the American public, and remain a major player in the US energy future
On April 20, 2010, a tragic accident aboard the Deepwater Horizon rig claimed the lives of 11 men and injured 17 others. The subsequent oil spill impacted the people and natural environment of the Gulf Coast region.
Meeting our commitments
We know that nothing we can do will restore the 11 men lost to their loved ones, and that the economic and environmental restoration will be a significant challenge. But BP will meet its commitments to the Gulf Coast communities, and will take the lessons from this event deep into the fabric of our organization to ensure that nothing like it ever happens again.
We mobilized a response that was unprecedented in its size and scope. At the peak of the effort, over 45,000 people were involved, deploying more than 2,500 miles of protective boom, 150 aircraft and around 6,000 vessels.
Although the well was successfully capped on July 16, 2010 and permanently sealed by the drilling of a relief well on September 16, 2010, our work in the Gulf is far from over.
We have pledged a $20 billion independent trust fund to pay for environmental restoration and the legitimate claims of claims of individuals, businesses and government.
To implement the recovery and restoration efforts and act as outreach to the community, BP has formed a Gulf Coast Restoration Organization (GCRO), which has a presence in all of the affected states. Assessing the long-term effects of the spill on the Gulf’s fragile ecosystem is also a priority, so we are making $500 million available to fund the Gulf of Mexico Research Initiative (GRI). This will underwrite independent scientific research on the fish, wildlife and wetlands of the area.
Learning the lessons
BP is transforming itself in response to the Deepwater Horizon accident.We are redoubling our commitment to safety, both of our workforce and the communities where we operate. We have formed a new Safety and Operational Risk organization, empowered fully to intervene in all aspects of BP’s technical operations. We are also functionally reorganizing our exploration, development and production organizations, reviewing how we manage our contractors, and drawing on the safety expertise of other industries.
Our aim is to strengthen safety and risk management and share our knowledge with government and our industry partners. Our aim is to provide the public with renewed and strengthened assurance that we have the right procedures and capabilities in place to manage the risks of our business.
Enormous stakes
Critical as these efforts are, we cannot lose sight of our core mission; which is providing America and the world with the energy needed to create jobs and power the future.
By 2030, BP estimates that the world could be consuming as much as 40 percent more energy than today. As the largest investor in US energy development, BP has a critical role to play in satisfying that demand.
That is why we invest in the most diverse energy portfolio of any company.
As the nation’s largest producer of oil and natural gas, we are leaders in providing America’s traditional energy needs. Marketing over 15 billion gallons of gasoline in the U.S. annually through more than 11,000 service stations, we also operate five modern refineries, as well as three chemical plants, and thousands of miles of pipeline.
As the nation’s largest producer of oil and natural gas, we are leaders in providing America’s traditional energy needs. Marketing over 15 billion gallons of gasoline in the U.S. annually through more than 11,000 service stations, we also operate five modern refineries, as well as three chemical plants, and thousands of miles of pipeline.
In the realm of alternatives, we have built our American wind power business from zero in 2005 to a gross generating capacity of over 1,300 megawatts (MW), enough to power a city the size of Washington, DC. Our solar business has been a leader for over three decades, and we are one of the largest blenders and marketers of biofuels in the nation.
BP is determined to be a major player in America’s energy future, delivering the traditional and lower-carbon energy sources the economy needs to grow.
At the same time, we know that a return to “business as usual” is not an option. We will meet our commitments to the America people, while at the same time bringing a renewed rigor to the way we manage the risks of our business. We have learned many lessons about ourselves recently, and these will never be forgotten.
At the same time, we know that a return to “business as usual” is not an option. We will meet our commitments to the America people, while at the same time bringing a renewed rigor to the way we manage the risks of our business. We have learned many lessons about ourselves recently, and these will never be forgotten.
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