Release date: October 10, 2017
Reintroduction of iconic retail brand supports company’s global downstream growth strategy
CHICAGO – BP announced today that it will reintroduce its Amoco retail fuel brand, giving current BP marketers more growth options in select U.S. markets and helping BP boost retail fuel sales nationwide.
Last seen more than a decade ago in the U.S., the Amoco brand will be available to BP marketers as a complementary retail offering in cities where there could be additional growth opportunities. It also will help resolve local, competitive station conflicts in markets where there may already be one or more BP stations in close proximity.
“The reintroduction of the historic Amoco brand is an exciting step forward in BP’s U.S. retail growth strategy, and it clearly demonstrates our commitment to helping our branded marketers grow their businesses,” said Rick Altizer, senior vice president of sales and marketing for BP Fuels North America.
Amoco-branded stations will offer all of the same consumer loyalty programs as BP-branded retail sites, including BP Driver Rewards. They also will sell all grades of gasoline with BP’s proprietary additive, Invigorate®.
“BP has a very strong brand presence in the U.S., and now, with the addition of the Amoco brand, we have the opportunity to build further on this success and to give an important boost to our sales and marketing business in the U.S.,” Altizer said.
BP consumer research found that the Amoco brand still resonates with many American consumers, and that both it and the BP brand appeal to similar audiences. In light of the findings, the two brands will share a similar marketing strategy, leveraging the strengths of BP’s programs and the familiarity of the Amoco brand.
In line with its global fuels marketing strategy, BP expects to deliver an additional $1.4 billion in earnings growth from the fuels marketing business by 2021. In addition to the reintroduction of the Amoco brand, strategic partnerships with Marks and Spencer in the U.K.and REWE in Gerrmany support BP’s broader strategy of growing its differentiated and high-return fuels marketing business across the globe.
BP expects the first Amoco-branded stations to begin operating towards the end of 2017.
BP is a global producer of oil and gas with operations in over 70 countries. Over the past 10 years BP has invested $90 billion in the U.S. – more than any other energy company. BP employs about 14,000 people across the U.S. and supports more than 106,000 additional jobs through all its business activities. For more information on BP in the U.S., visit bp.com/US.
Notes to editors:
- BP is a retail marketing leader with around 7,100 BP - and Arco - branded sites in the U.S.
- Amoco has a long tradition in the U.S. as a quality fuels brand, with the first Amoco service station opening in Minneapolis, Minnesota, in 1912.
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