A. “Having worked in many parts of the world for BP, I’ve seen first-hand the benefits that energy projects can bring to societies. My own experience shows that there is a close relationship between improved access to energy and better living conditions. In fact, 80% of the world’s population live in countries where more energy can make a real difference. The challenge for our sector is to provide this energy in an affordable and sustainable manner, working closely with governments and local communities.”
The Tortue gas field is located offshore on the border between Mauritania and Senegal. With an estimated 15 trillion cubic feet of gas, Tortue has the potential to be a significant source of domestic energy and revenue for both countries – and the first step towards developing a global energy hub. BP and our partners will be investing billions of dollars to bring the innovative Tortue project on-stream.
The energy we produce helps to improve the quality of life for millions of people around the world.
Today more than one billion people don’t have any access to electricity – that’s 15 out of every 100 people on the planet. And our population is still growing, heading towards nine billion by 2040.
Demand for energy will underpin this growth in population and prosperity and we project that global energy consumption could increase by around a third by 2040. More energy could help lift 2.5 billion people out of low incomes over the next two decades.
Our work helps countries around the world to grow their domestic energy supplies and boost their energy security. This in turn creates jobs, drives economic development and generates revenue for governments. The value we create can transform communities, even nations.
BP has a larger economic footprint in the US than in any other country. We support more than 125,000 jobs. Our operations contributed $101 billion to the US economy in 2018. And we have spent more than $6 billion with diverse suppliers since 2008.
Around 42% of Brazil’s energy comes from renewable sources and more than half of its passenger cars contain flex-fuel engines, which combine gasoline and sugar cane ethanol. We were the first international energy company to invest in Brazilian sugar cane ethanol. In 2018, our three biofuels sites produced enough renewable power to meet the needs of all the homes in a city of 1.25 million people.
Our UK North Sea oil and gas operations have helped drive economic growth in the UK for more than 50 years. In 2018 we successfully started up our Clair Ridge project, which, at peak, is expected to supply 10% of all UK oil production. During the construction phase we invested $2 billion with UK suppliers, awarded more than half the contracts to UK-registered companies and created thousands of jobs.
Africa is one of the fastest-growing energy markets, with demand expected to rise by as much as 127% by 2040. We want to support that growth, which is why we’re working with Kosmos Energy and two national oil companies to develop natural gas resources off the coast of Mauritania and Senegal. Our offshore liquefied natural gas facility will supply gas to both domestic and global markets, generating revenue and new energy supplies for the two countries.
To improve urban air quality, China is rapidly developing its electric vehicle industry and is now one of the world’s largest markets for electric vehicles. We’re participating in this transformation through our $10 million investment in the NIO Capital fund. This fund will support the development of advanced mobility opportunities, including electric vehicles, new energy infrastructure and batteries.
One of the ways we are investing in the long-term future of Australia is by building strong relationships with Aboriginal and Torres Strait Islander communities. We’ve set out our aims in our Reconciliation Action Plan, which includes a commitment to spend 3% of our addressable spend with indigenous businesses by 2023. We have more than 5,700 employees and long-term contractors across the country, of which approximately 2% identify as Aboriginal or Torres Strait Islander.