History of BP in Timeline
BP p.l.c. is a British multinational oil and gas company based in London. It ranks among the world's largest corporations based on revenue and profit, holding a position as one of the oil and gas "supermajors". The company is involved in all aspects of the oil and gas industry, including exploration, production, refining, distribution, and marketing.
5 hours ago : Fuel Shortage at SEA Airport Causes Airline Schedule Changes Due to Pipeline Leak
A fuel shortage at Seattle-Tacoma International Airport (SEA) is causing airlines to make schedule changes for long-haul flights. A pipeline leak is forcing airlines to add fuel stops and use backup plans.
May 1908: Oil discovery at Masjed Soleyman
In May 1908, British geologists discovered a large amount of oil at Masjed Soleyman in Persia (Iran), marking the first commercially significant oil find in the Middle East.
April 1909: Incorporation of Anglo-Persian Oil Company
On April 14, 1909, the Anglo-Persian Oil Company (APOC) was incorporated as a subsidiary of Burmah Oil Company.
1909: Founding of Anglo-Persian Oil Company
In 1909, the Anglo-Persian Oil Company was founded as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran.
1912: Creation of Turkish Petroleum Company
In 1912, APOC and Calouste Gulbenkian were the driving forces behind the creation of Turkish Petroleum Company (TPC).
1912: Abadan Refinery Begins Operations
In 1912, the refinery on Abadan Island, obtained through an agreement with Sheikh Khaz'al Ibn Jabir, was built and began operations.
1914: APOC holds 50% of TPC shares
By 1914, APOC held 50% of Turkish Petroleum Company (TPC) shares.
1914: British government acquires controlling interest
In 1914, urged by Winston Churchill, the British government acquired a controlling interest (50.0025%) in the Anglo-Persian Oil Company.
1915: Establishment of the British Tanker Company
In 1915, APOC established its shipping subsidiary, the British Tanker Company.
1916: Acquisition of British Petroleum Company
In 1916, APOC acquired the British Petroleum Company, which was a marketing arm of the German Europäische Petroleum Union in Britain.
1919: Establishment of Scottish Oils
In 1919, the company became a shale-oil producer by establishing a subsidiary named Scottish Oils which merged remaining Scottish oil-shale industries.
1923: Winston Churchill as consultant
In 1923, Burmah employed Winston Churchill as a paid consultant to lobby the British government to allow APOC have exclusive rights to Persian oil resources.
1925: TPC receives concession in Mesopotamia
In 1925, Turkish Petroleum Company (TPC) received concession in the Mesopotamian oil resources from the Iraqi government under British mandate.
October 1927: Oil discovered in Iraq by TPC
On October 14, 1927, the Turkish Petroleum Company (TPC) finally struck oil in Iraq.
1927: Formation of Burmah-Shell
In 1927, Burmah Oil and Royal Dutch Shell formed the joint marketing company Burmah-Shell.
1928: APOC's shareholding reduced in renamed IPC
By 1928, APOC's shareholding in Turkish Petroleum Company (TPC), which was by now named Iraq Petroleum Company (IPC), was reduced to 23.75%.
1928: Formation of Consolidated Petroleum Company
In 1928, APOC and Shell formed the Consolidated Petroleum Company for sale and marketing in Cyprus, South Africa and Ceylon.
1932: Cordial relations between Hashemite Monarchy and IPC
From 1932 onward, Relations were generally cordial between the pro-west Hashemite Monarchy in Iraq and Iraq Petroleum Company (IPC).
1932: Formation of Shell-Mex and BP
In 1932, a joint marketing company Shell-Mex and BP was formed in the United Kingdom.
December 1934: Kuwait Oil Company founded
In December 1934, APOC and Gulf Oil founded the Kuwait Oil Company as an equally owned partnership and were awarded oil concession rights.
1935: Name change requested from Persia to Iran
In 1935, Reza Shah requested the international community to refer to Persia as 'Iran', which led to APOC changing its name to Anglo-Iranian Oil Company (AIOC).
1935: Name change to Anglo-Iranian Oil Company
In 1935, the Anglo-Persian Oil Company changed its name to the Anglo-Iranian Oil Company.
1936: Drilling operations started in Kuwait
In 1936, the Kuwait Oil Company, founded by APOC and Gulf Oil, started drilling operations.
1937: Formation of Shell/D'Arcy Exploration Partners
In 1937, AIOC and Shell formed the Shell/D'Arcy Exploration Partners partnership to explore for oil in Nigeria.
1937: Oil concession agreement with Sultan of Muscat
In 1937, Iraq Petroleum Company (23.75% owned by BP) signed an oil concession agreement with the Sultan of Muscat covering the Sultanate region.
1937: Oil concession agreement
In 1937, Iraq Petroleum Company (IPC), 23.75% owned by BP, signed an oil concession agreement with the Sultan of Muscat.
1947: Incorporation of British Petroleum Chemicals
In 1947, British Petroleum Chemicals was incorporated as a joint venture of AIOC and The Distillers Company.
1950: Saudi-Aramco 50/50 agreement
In 1950, Iranian Oil Participants Ltd (IOP) agreed to share profits on a 50–50 basis with Iran, similar to the Saudi-Aramco agreement.
March 1951: Assassination of Prime Minister Ali Razmara
In March 1951, Prime Minister Ali Razmara was assassinated in Iran, leading to Mohammed Mossadeq becoming the new prime minister.
April 1951: Nationalization of Iranian oil industry
In April 1951, the Iranian government nationalized the Iranian oil industry, forming the National Iranian Oil Company (NIOC) and displacing AIOC.
1952: IPC support for armed force
In 1952, IPC offered financial support to raise an armed force to assist the Sultan of Muscat in occupying the interior region of Oman, an area believed to be rich in oil.
August 1953: Iranian coup d'état
In August 1953, a coup d'état, orchestrated by the CIA and SIS (MI6) under the code names 'Operation Ajax' and 'Operation Boot', overthrew Mossadeq and established Fazlollah Zahedi as the new PM, allowing AIOC to return to Iran.
1953: Entry into the Canadian market
In 1953, British Petroleum entered the Canadian market through the purchase of a minority stake in Calgary-based Triad Oil Company.
1953: Aftermath of the Iranian coup d'état
In 1953, the Iranian coup d'état allowed Iranian Oil Participants Ltd (IOP) to operate and manage oil facilities in Iran on behalf of NIOC.
October 1954: Founding of Iranian Oil Participants Ltd
In October 1954, after the 1953 Iranian coup d'état, Iranian Oil Participants Ltd (IOP) was founded in London, with British Petroleum as a founding member with a 40% stake.
1954: Establishment of BP Products North America, Inc.
In 1954, BP Products North America, Inc., a Houston-based subsidiary, was established and is engaged in the exploration, development, production, refining, and marketing of oil and natural gas.
1954: Name change to British Petroleum
In 1954, the Anglo-Iranian Oil Company adopted the name British Petroleum.
1956: Renaming to British Hydrocarbon Chemicals
In 1956, British Petroleum Chemicals was renamed British Hydrocarbon Chemicals.
1959: Expansion to Alaska
In 1959, British Petroleum expanded further to Alaska.
1962: Scottish Oils ceases operations
In 1962, Scottish Oils ceased oil-shale operations.
December 1965: Capsizing of the Sea Gem oil rig
In December 1965, Britain's first oil rig, Sea Gem, capsized when two of its legs collapsed during an operation to move it to a new location. This occurred because the rig had been hastily converted to start drilling operations quickly after the North Sea was opened for exploration. Thirteen crew members died in the accident.
1965: First to strike oil in the North Sea
In 1965, BP was the first company to strike oil in the North Sea.
1967: Acquisition of chemical and plastics assets
In 1967, BP acquired chemical and plastics assets of The Distillers Company which were merged with British Hydrocarbon Chemicals to form BP Chemicals.
1967: Torrey Canyon oil spill
In 1967, the oil tanker Torrey Canyon, chartered by British Petroleum, caused Britain's worst-ever oil spill, releasing over 32 million US gallons of crude oil off the English coast.
1969: Entry into the United States
In 1969, BP entered the United States by acquiring the East Coast refining and marketing assets of Sinclair Oil Corporation.
1970: BP diversified into coal, minerals and nutrition businesses
In the 1970's, BP diversified into coal, minerals and nutrition businesses which all were divested later.
1971: Acquisition of Supertest Petroleum
In 1971, BP Canada acquired 97.8% stake of Supertest Petroleum.
1971: Nationalisation in Libya
In 1971, BP's oil assets were nationalised in Libya.
June 1972: Nationalisation in Iraq
In June 1972, Iraq Petroleum Company (IPC) ceased its operations in Iraq after it was nationalised by the Ba'athist Iraqi government.
1975: Nationalisation in Kuwait
In 1975, BP's oil assets were nationalised in Kuwait.
1976: BP and Shell de-merged their marketing operations in the United Kingdom
In 1976, BP and Shell de-merged their marketing operations in the United Kingdom by dividing Shell-Mex and BP.
1978: BP acquired a controlling interest in Standard Oil of Ohio (Sohio)
In 1978, BP acquired a controlling interest in Standard Oil of Ohio (Sohio).
1978: Acquisition of Standard Oil of Ohio
In 1978, BP acquired majority control of Standard Oil of Ohio.
1979: Nationalisation in Nigeria
In 1979, BP's oil assets were nationalised in Nigeria.
1979: Privatization of BP Begins
In 1979, the British government began the process of privatizing BP, which was formerly majority state-owned.
1979: The British government sold 80 million shares of BP
In 1979, the British government sold 80 million shares of BP at $7.58, reducing the government's ownership of the company to 46%.
1979: Islamic Revolution in Iran
In 1979, the Islamic Revolution in Iran resulted in the nationalization of all of British Petroleum's assets in Iran without compensation, leading to a 40% loss of BP's global crude oil supplies.
1981: British Petroleum entered into the solar technology sector
In 1981, British Petroleum entered into the solar technology sector by acquiring 50% of Lucas Energy Systems, which became Lucas BP Solar Systems, and later BP Solar.
1981: Peter Walters became company chairman
Peter Walters was the company chairman from 1981 and reduced the company's refining capacity in Europe.
1982: BP Canada's downstream assets sold to Petro Canada
In 1982, the downstream assets of BP Canada were sold to Petro Canada.
1984: Standard Oil of California renamed the Chevron Corporation
In 1984, Standard Oil of California was renamed the Chevron Corporation and bought Gulf Oil—the largest merger in history at that time.
1985: Chevron divested Gulf's operating subsidiaries
In 1985, Chevron divested many of Gulf's operating subsidiaries to meet anti-trust regulations, and sold some Gulf stations and a refinery in the eastern United States to British Petroleum and Cumberland Farms.
October 1987: Sale of additional BP shares
In October 1987, the British government under Margaret Thatcher authorized the sale of an additional GBP7.5 billion ($12.2 billion) of BP shares at 333 pence, representing the government's remaining 31% stake in the company.
November 1987: Kuwait Investment Office purchased interest in BP
In November 1987, the Kuwait Investment Office purchased a 10.06% interest in BP, becoming the largest institutional shareholder.
1987: Privatization completed
By 1987, the British government had completed the privatization of BP.
1987: British Petroleum negotiated the acquisition of Britoil and Standard Oil of Ohio
In 1987, British Petroleum negotiated the acquisition of Britoil and the remaining publicly traded shares of Standard Oil of Ohio. At the same year it was listed on the Tokyo Stock Exchange where its share were traded.
October 1988: British Department of Trade and Industry required the KIO to reduce its shares
In October 1988, the British Department of Trade and Industry required the Kuwait Investment Office (KIO) to reduce its shares in BP to 9.6% within 12 months.
1988: BP responsible for 1.53% of global industrial greenhouse gas emissions
From 1988 to 2015 BP was responsible for 1.53% of global industrial greenhouse gas emissions.
1988: Lockerbie bombing
In 1988, the Lockerbie bombing over Scotland, killed 270 people.
1990: British Petroleum entered the Russian market
In 1990, British Petroleum entered the Russian market.
1990: Robert Horton replaced Walters as chair
In 1990, Robert Horton replaced Peter Walters as chair of BP.
1990: Peter Walters left his position as company chairman
Peter Walters left his position as company chairman in 1990.
1992: British Petroleum entered the Azerbaijani market
In 1992, British Petroleum entered the Azerbaijani market.
1993: BP Exploration Alaska illegally dumped hazardous wastes
From 1993 to 1995 BP Exploration Alaska illegally discharged waste oil, paint thinner and other toxic and hazardous substances by injecting them down the outer rim, or annuli, of the oil wells.
1994: Production sharing agreement for the Azeri–Chirag–Guneshli oil project
In 1994, BP signed the production sharing agreement for the Azeri–Chirag–Guneshli oil project.
1995: BP Exploration Alaska illegally dumped hazardous wastes
From 1993 to 1995 BP Exploration Alaska illegally discharged waste oil, paint thinner and other toxic and hazardous substances by injecting them down the outer rim, or annuli, of the oil wells.
1995: Production sharing agreement for the Shah Deniz gas field development
In 1995, BP signed the production sharing agreement for the Shah Deniz gas field development.
1995: John Browne was appointed group chief executive
In 1995, John Browne was appointed group chief executive of BP.
1996: Establishment of BP Exploration & Production Inc.
In 1996, BP Exploration & Production Inc., a Houston-based subsidiary, was established to deal with oil exploration and production.
1996: BP opened its first service station in Moscow
In 1996, BP opened its first service station in Moscow.
1997: Acquisition of stake in Sidanco
In 1997, BP acquired a 10% stake for $571 million in the Russian oil company Sidanco.
1997: BP withdrew from Global Climate Coalition
In 1997, BP withdrew from the Global Climate Coalition, an industry organization that promoted global warming skepticism. BP stated that the time to consider the policy dimensions of climate change is when the possibility cannot be discounted, a point BP felt it had reached in 1997.
December 1998: British Petroleum merged with Amoco
In December 1998, British Petroleum merged with Amoco, becoming BP Amoco plc.
1998: BP-Amoco merger
Following the United States Federal Trade Commission's approval of the BP-Amoco merger in 1998, Amoco's stock was removed from the S&P 500 and was merged with BP shares on the London Stock Exchange.
1998: Merger with Amoco
In 1998, BP merged with Amoco, becoming BP Amoco p.l.c.
1998: Last pipeline inspection before the 2006 oil spill
Prior to the oil spill in March 2006, pipeline inspection gauges had not been run through the BP Exploration Alaska (BPXA) pipeline since 1998. The leak was caused by corrosion of the pipeline in Prudhoe Bay.
September 1999: BP Exploration Alaska pleaded guilty to criminal charges
In September 1999, BP Exploration Alaska (BPXA) pleaded guilty to criminal charges stemming from its illegally dumping hazardous wastes on the Alaska North Slope, paying fines and penalties totalling $22 million.
2000: Company helped the Tate Modern gallery of British Art launch RePresenting Britain 1500–2000
As part of the merger's brand awareness in 2000, the company helped the Tate Modern gallery of British Art launch RePresenting Britain 1500–2000.
2000: BP Amoco acquired ARCO
In 2000, BP Amoco acquired ARCO, a Los Angeles-based oil group.
2000: BP Amoco acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol
In 2000, BP Amoco acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol. Together with the acquisition of ARCO in 2000, BP became owner of a 33.5% stake in the Olympic Pipeline.
2001: Gasoline price data gathering
In 2001, a dataset of gasoline prices from various retailers was gathered to show tacit collusion between these retailers.
2001: BP rebranded itself as BP
In 2001, in response to negative press on British Petroleum's poor safety standards, the company adopted a green sunburst logo and rebranded itself as BP ("Beyond Petroleum") plc. This coincided with Buccaroonies implementing the Wild Bean Cafe stores into BP Connect stations.
2001: Name shortened to BP p.l.c.
In 2001, the company's name was shortened to BP p.l.c.
2001: BP marketing name and logo adoption
In the first quarter of 2001, the company adopted the marketing name of BP and replaced its "Green Shield" logo with the "Helios" symbol. A new corporate slogan – "Beyond Petroleum" was introduced along with a $200M advertising and marketing campaign in 2001.
February 2002: BP renounces corporate campaign contributions
In February 2002, BP's then-chief executive, Lord Browne of Madingley, announced that BP would no longer make political contributions from corporate funds anywhere in the world.
March 2002: Lord John Browne declared global warming was real
In March 2002, Lord John Browne, the group chief executive of BP, declared in a speech that global warming was real and that urgent action was needed.
August 2002: Second suit filed against BP
In January 2005, California's South Coast Air Quality Management District filed a second suit against BP based on violations between August 2002 and October 2004, alleging illegal release of air pollutants.
2002: BP acquired the majority of Veba Öl AG
In 2002, BP acquired the majority of Veba Öl AG, a subsidiary of VEBA AG, and subsequently rebranded its existing stations in Germany to the Aral name.
2003: Investment in TNK venture
In 2003, BP invested $8 billion into a joint venture with Mikhail Fridman's TNK.
2003: Propane price manipulation
In 2003, BP was charged with cornering and manipulating the price of TET propane.
2003: Complaint filed against BP/ARCO
In 2003, California's South Coast Air Quality Management District (AQMD) filed a complaint against BP/ARCO, seeking $319 million in penalties for thousands of air pollution violations over an 8-year period.
October 2004: Second suit filed against BP
In January 2005, California's South Coast Air Quality Management District filed a second suit against BP based on violations between August 2002 and October 2004, alleging illegal release of air pollutants.
2004: BP sells retail network and LPG business in Singapore
In 2004, BP sold its retail network of 28 stations and LPG business to Singapore Petroleum Company (SPC) in Singapore. BP also sold its 50% stake in SPC.
2004: BP's olefins and derivatives business was moved into a separate entity
In 2004, BP's olefins and derivatives business was moved into a separate entity.
2004: BP faces charges of propane market manipulation
In 2004, the US Justice Department and the Commodity Futures Trading Commission filed charges against BP Products North America Inc. and several BP traders for conspiring to raise the price of propane by seeking to corner the propane market.
January 2005: Second suit filed against BP
In January 2005, California's South Coast Air Quality Management District filed a second suit against BP based on violations between August 2002 and October 2004, alleging illegal release of air pollutants.
March 2005: Explosion at the Texas City refinery
In March 2005, an explosion at the Texas City refinery, then owned by BP, caused 15 deaths and injured 180 people. A hydrocarbon-filled column overflowed, forming a vapour cloud that ignited. This was the culmination of a series of less serious accidents, with management failing to address the engineering problems.
March 2005: Texas City refinery explosion
On 23 March 2005, 15 workers were killed and more than 170 injured in the Texas City refinery explosion.
March 2005: OSHA fines BP for safety violations
On 30 October 2009, the US Occupational Safety and Health Administration (OSHA) fined BP an additional $87 million, the largest fine in OSHA history, for failing to correct safety hazards documented in the 2005 explosion.
2005: Conditions similar to the 2005 Texas City refinery explosion
Citing conditions similar to those that resulted in the 2005 Texas City refinery explosion, on 25 April 2006, the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) fined BP more than $2.4 million for unsafe operations at the company's Oregon, Ohio refinery.
2005: BP establishes alternative and low carbon energy business
In 2005, BP established an alternative and low carbon energy business, marking the company's first step to focus on energy sources other than fossil fuels.
2005: BP's olefins and derivatives business was sold to Ineos
In 2005, BP's olefins and derivatives business, which had been moved into a separate entity the previous year, was sold to Ineos.
2005: Explosion at the Texas City refinery
In 2005, an explosion at the former Amoco oil refinery in Texas City, Texas, which was then owned by BP, resulted in 15 fatalities and hundreds of injuries. This incident, described as "one of the deadliest U.S. industrial accidents in 20 years," led to a guilty plea by BP to a felony Clean Air Act charge.
2005: Texas City refinery explosion
In 2005, the Texas City refinery explosion, involving BP, resulted in the death of 15 workers and a record-setting OSHA fine.
March 2006: Oil spill on Alaska's North Slope
In March 2006, corrosion of a BP Exploration Alaska (BPXA) oil transit pipeline in Prudhoe Bay led to a five-day leak and the largest oil spill on Alaska's North Slope, spilling a total of 212,252 US gallons of oil.
May 2006: Clean-up of the oil spill completed
BP completed the clean-up of the oil spill by May 2006, including removal of contaminated gravel and vegetation, which was replaced with new material from the Arctic tundra. The spill occurred in March 2006 due to corrosion of a BPXA pipeline.
July 2006: Discovery of corrosion in pipelines
In late July 2006, "smart pigs" monitoring the pipelines found 16 places where corrosion had thinned pipeline walls. A BP crew sent to inspect the pipe in early August discovered a leak and small spill.
August 2006: Smaller spill in Prudhoe Bay
In August 2006, a BP crew discovered a leak and small spill, following which, BP announced that the eastern portion of the Alaskan field would be shut down for repairs on the pipeline.
October 2006: Resumption of full production
Work began to bring the eastern field to full production on 2 October 2006, after a shutdown resulting from the discovery of corrosion and a leak in the pipeline in July 2006.
2006: BP reached a settlement with Colombian farmers
In 2006, BP reached a multimillion-dollar out-of-court settlement with a group of Colombian farmers for alleged environmental damage caused by the Ocensa pipeline.
2006: Former trader pleads guilty
In 2006, one former BP trader pleaded guilty in connection with charges of propane market manipulation.
2006: Prudhoe Bay oil spill
In 2006, the Prudhoe Bay oil spill, the largest on Alaska's North Slope, resulted in a US$25 million civil penalty for BP.
2006: Settlement of civil suit and corrective action order
In July 2011, in the settlement of a civil suit, investigators determined that the 2006 spills were a result of BPXA's failure to properly inspect and maintain the pipeline to prevent corrosion. The government issued a Corrective Action Order to BP XA and BPXA paid a $25 million civil penalty.
May 2007: Lord Browne resigned from BP
On 1 May 2007, Lord Browne resigned from BP, and Tony Hayward became the new chief executive.
October 2007: Toxic spill from a BP pipeline
On 16 October 2007, ADEC officials reported a "toxic spill" from a BP pipeline in Prudhoe Bay comprising 2,000 US gallons of primarily methanol (methyl alcohol) mixed with crude oil and water.
November 2007: BP pleads guilty to negligent discharge of oil
In November 2007, BP Exploration, Alaska pleaded guilty to negligent discharge of oil, a misdemeanor under the federal Clean Water Act, and was fined US$20 million.
2007: Effie Award from the American Marketing Association
BP's branding campaign culminated in 2007 with an Effie Award from the American Marketing Association.
2007: Workers claim injuries from toxic substance release
In 2007, 143 workers at the Texas City refinery claimed they were injured due to a toxic substance release at the plant, which had a history of chemical releases.
2007: BP formed Vivergo Fuels joint venture
In 2007, BP formed with AB Sugar and DuPont a joint venture Vivergo Fuels.
2007: BP pays restitution and fines
In 2007, BP paid $303 million in restitution and fines as part of an agreement to defer prosecution for cornering and manipulating the price of TET propane in 2003 and 2004.
2007: BP sold its corporate-owned convenience stores
In 2007, BP sold its corporate-owned convenience stores, typically known as "BP Connect", to local franchisees and jobbers.
2007: BP involved in oil sands projects
Since 2007, BP has been involved in oil sands projects, which Greenpeace has called a climate crime. Members of Canada's First Nations have criticised BP's involvement for the impacts oil sands extraction has on the environment.
September 2008: Gas leak at Azeri oilfield
On 17 September 2008, a small gas leak was discovered and one gas-injection well broached to the surface in the area of the Central Azeri platform at the Azeri oilfield in the Azerbaijan sector of the Caspian Sea. The platform was shut down and the staff was evacuated.
October 2008: Production resumed at West Azeri Platform
Production at the West Azeri Platform resumed on 9 October 2008, after being shut down due to a gas leak at the Central Azeri platform in September 2008.
November 2008: Trading activity investigated
In November 2008, BP's trading activity was investigated for potential market manipulation.
December 2008: Production resumed at Central Azeri Platform
Production at the Central Azeri Platform resumed in December 2008, following a gas leak in September 2008.
2008: BP Biofuels Highlands project was developed
BP Biofuels Highlands project was developed since 2008 to make cellulosic ethanol from emerging energy crops like switchgrass and from biomass.
2008: BP's Branding Campaign
By 2008, BP's branding campaign had succeeded, with consumers having the impression that BP was one of the greenest petroleum companies in the world. However, BP was criticised by environmentalists and marketing experts.
2008: Completion of pipeline replacement
By the end of 2008, BP completed work on the 16 miles of new pipeline, after pledging to replace 26 kilometers (16 mi) of its Alaskan oil transit pipelines following a shutdown.
2008: BP employee contributions in U.S. election
During the 2008 U.S. election cycle, BP employees made contributions to various candidates, with Barack Obama receiving the largest amount.
2008: Settlement of lawsuit over MTBE water contamination
In 2008, BP and other major oil refiners agreed to pay $422 million to settle a class-action lawsuit related to water contamination caused by the gasoline additive MTBE. The plaintiffs claimed the industry was aware of the environmental risks but chose to use MTBE due to its lower cost. The settlement also required the companies to cover 70% of cleanup costs for newly affected wells over the subsequent 30 years.
March 2009: Complaint filed against BPXA
In March 2009, a complaint was filed alleging violations of the Clean Water Act, the Clean Air Act and the Pipeline Safety Act, because BP XA did not fully comply with the terms of the corrective action for the 2006 spills.
October 2009: OSHA fines BP for safety violations
On 30 October 2009, the US Occupational Safety and Health Administration (OSHA) fined BP an additional $87 million, the largest fine in OSHA history, for failing to correct safety hazards documented in the 2005 explosion.
December 2009: Jury awards damages to injured workers
In December 2009, a federal jury in Galveston awarded ten of the workers $10 million each in punitive damages, in addition to smaller damages for medical expenses and pain and suffering, related to the 2007 toxic substance release.
2009: BP obtained a production contract to develop the supergiant Rumaila field
In 2009, BP obtained a production contract to develop the supergiant Rumaila field with joint venture partner CNPC.
2009: BP lobbying spending in U.S. Congress
In 2009, BP spent nearly $16 million lobbying the U.S. Congress.
2009: Hayward shifted emphasis from alternative energy
In 2009, Tony Hayward shifted emphasis from Lord Browne's focus on alternative energy, announcing that safety would henceforth be the company's "number one priority".
2009: Colombian farmers filed a suit against BP
In 2009, another group of 95 Colombian farmers filed a suit against BP, saying the company's Ocensa pipeline caused landslides and damage to soil and groundwater, affecting crops, livestock, and contaminating water supplies.
2009: Charges dismissed against traders
In 2009, charges against four former BP traders were dismissed by a US District Court on the grounds that the transactions were exempt under the Commodities Exchange Act.
2009: Tangguh LNG Project Begins Production
In 2009, the Tangguh LNG project in Indonesia, operated by BP, began production. The project has a capacity of 7.6 million tonnes of liquid natural gas per year.
2009: BP formed a biobutanol joint venture Butamax
Together with DuPont, BP formed a biobutanol joint venture Butamax by acquiring biobutan technology company Biobutanol LLC in 2009.
January 2010: Carl-Henric Svanberg became chairman of BP board of directors
In January 2010, Carl-Henric Svanberg became chairman of BP board of directors.
March 2010: Reduction of jury award
In March 2010, the federal judge hearing the case reduced the jury's award to less than $500,000, stating the plaintiffs failed to prove BP was grossly negligent regarding the 2007 toxic substance release.
April 2010: Deepwater Horizon explosion
In April 2010, the Deepwater Horizon, an offshore drilling rig in the Gulf of Mexico, experienced a blowout and exploded, leading to a massive oil spill. The rig burned for two days before sinking.
May 2010: BP admits to chemical release
BP admitted that malfunctioning equipment led to the release of over 530,000 pounds of chemicals into the air of Texas City and surrounding areas from 6 April to 16 May 2010.
June 2010: Report on BP's political contributions
In June 2010, The Washington Post reported that BP North America had donated at least $4.8 million in corporate contributions over the past seven years to political groups and campaigns, primarily to oppose ballot measures in two states to raise taxes on the oil industry. BP stated that its commitment in 2002 only applied to contributions to individual candidates.
June 2010: BP to pay into trust fund
In June 2010, following a meeting with President Barack Obama, BP announced it would pay $20 billion into a trust fund to compensate victims of the Deepwater Horizon oil spill. BP also allocated $100 million to compensate oil workers who lost their jobs.
July 2010: BP sold its natural gas activities in Alberta and British Columbia, Canada, to Apache Corporation
In July 2010, BP sold its natural gas activities in Alberta and British Columbia, Canada, to Apache Corporation.
July 2010: Deepwater Horizon well capped
In July 2010, the well that caused the Deepwater Horizon oil spill was finally capped, stopping the flow of oil into the Gulf of Mexico. This occurred on July 15, 2010.
August 2010: Texas Attorney General charges BP with air pollution
In August 2010, the Texas Attorney General charged BP with illegally emitting harmful air pollutants from its Texas City refinery for more than a month.
October 2010: Bob Dudley replaced Tony Hayward as the company's CEO
In October 2010, Bob Dudley replaced Tony Hayward as the company's CEO.
November 2010: US Regulators investigate BP for gas market manipulation
In November 2010, US regulators FERC and CFTC began an investigation of BP for allegedly manipulating the gas market. The investigation relates to trading activity that occurred in October and November 2008.
2010: BP pledged to use only in-situ technologies
In 2010, BP pledged to use only in-situ technologies instead of open-pit mining for oil sands extraction.
2010: Report on BP's disregard for safety and environmental rules
In 2010, a ProPublica report published in The Washington Post revealed that internal investigations over a decade of BP's Alaska operations during the 2000s warned senior BP managers about the company's repeated disregard for safety and environmental regulations, which risked a serious accident.
2010: Class-action suit over emissions release
In 2010, over 50,000 Texas City residents joined a class-action suit against BP, alleging they became sick as a result of the emissions release from the refinery.
2010: Deepwater Horizon oil spill
In 2010, the Deepwater Horizon oil spill, BP's worst environmental catastrophe, released approximately 4.9 million barrels of oil into marine waters, resulting in over $65 billion in costs.
February 2011: BP formed a partnership with Reliance Industries
In February 2011, BP formed a partnership with Reliance Industries, taking a 30% stake in a new Indian joint-venture for an initial payment of $7.2 billion.
July 2011: FERC alleges fraudulent trading
In July 2011, FERC staff issued a "Notice of Alleged Violations" saying it had preliminarily determined that several BP entities fraudulently traded physical natural gas in the Houston Ship Channel and Katy markets to increase the value of their financial swing spread positions.
July 2011: Settlement of civil suit and corrective action order
In July 2011, in the settlement of a civil suit, investigators determined that the 2006 spills were a result of BPXA's failure to properly inspect and maintain the pipeline to prevent corrosion. The government issued a Corrective Action Order to BP XA and BPXA paid a $25 million civil penalty.
November 2011: BP Texas City Refinery released toxic fumes
In November 2011 BP released Sulfur Dioxide, Methyl Carpaptan, Dimethyl Disulfide and other toxic chemicals into the atmosphere for two weeks.
November 2011: BP fined for emissions standards violations
In November 2011, BP agreed to pay the state of Texas $50 million for violating state emissions standards at its Texas City refinery during and after the March 2005 explosion at the refinery.
December 2011: BP Acquires Additional Oil Exploration and Production Blocks in Angola
In December 2011, BP acquired four additional oil exploration and production blocks in Angola, increasing its total to nine blocks covering more than 30,000 square kilometers.
December 2011: BP announced its departure from the solar energy market
In December 2011, BP announced its departure from the solar energy market by closing its solar power business, BP Solar.
2011: BP Announces UK North Sea Investment Focus
In 2011, BP announced that it is focusing its investment in the UK North Sea into four development projects including the Clair, Devenick, Schiehallion and Loyal, and Kinnoull oilfields.
2011: BP lobbying spending and lobbyists
In 2011, BP spent a total of $8,430,000 on lobbying and had 47 registered lobbyists.
2011: BP Produces Over 1 Million Barrels Per Day in Rumaila Oil Field
In 2011, as part of the joint venture Rumaila Operating Organization, BP produced over 1 million barrels per day of oil equivalent in the Rumaila oil field.
2011: Gulf fisheries recovered
In 2011, the Gulf fisheries recovered after the Deepwater Horizon oil spill.
2011: Dismissal upheld by Court of Appeals
In 2011, the dismissal of charges against four former BP traders was upheld by the Court of Appeals for the 5th Circuit.
February 2012: BP North America branding campaign launch
In February 2012, BP North America launched a $500 million branding campaign to rebuild its brand.
March 2012: US Department of Justice ends BP's probationary period
In March 2012, US Department of Justice officials stated that BP had met all of its obligations and subsequently ended the probationary period.
March 2012: BP settles suits with businesses and residents
On March 2, 2012, BP reached a settlement with businesses and residents affected by the Deepwater Horizon oil spill, resolving approximately 100,000 suits claiming economic losses. BP estimated the settlement to cost over $9.2 billion.
May 2012: BP staff member joins Wikipedia discussions
In May 2012, BP tasked a press office staff member to openly join discussions on the Wikipedia article's talk page and suggest content to be posted by other editors.
June 2012: Class-action suit against BP
In June 2012, over 50,000 Texas City residents joined a class-action suit against BP, alleging they became sick in 2010 as a result of the emissions release from the refinery. BP claimed the release caused no harm.
July 2012: Settlement of OSHA violations
In July 2012, BP agreed to pay $13 million to settle new violations found by OSHA, which at that time found "no imminent dangers" at the Texas plant. Thirty violations remained under discussion.
September 2012: BP sold BP Chemicals (Malaysia) Sdn. Bhd. to Reliance Industries
In September 2012, BP sold its subsidiary BP Chemicals (Malaysia) Sdn. Bhd., an operator of the Kuantan purified terephthalic acid (PTA) plant in Malaysia, to Reliance Industries for $230 million.
October 2012: BP sold its stake in TNK-BP to Rosneft
In October 2012, BP sold its stake in TNK-BP to Rosneft for $12.3 billion in cash and 18.5% of Rosneft's stock.
November 2012: BP reaches settlement with Department of Justice
In November 2012, BP and the Department of Justice reached a $4 billion settlement regarding federal criminal charges related to the Deepwater Horizon explosion and oil spill. As part of the settlement, BP agreed to plead guilty to multiple felony counts and paid $525 million to settle civil charges by the Securities and Exchange Commission for misleading investors.
November 2012: The U.S. Government temporarily banned BP from bidding any new federal contracts
In November 2012, the U.S. Government temporarily banned BP from bidding any new federal contracts.
December 2012: Vivergo Fuels opened a bioethanol plant in Saltend
In December 2012, Vivergo Fuels opened a bioethanol plant in Saltend near Hull, United Kingdom.
2012: BP shut down the BP Biofuels Highlands project
In 2012, BP shut down the BP Biofuels Highlands project which was developed since 2008 to make cellulosic ethanol from emerging energy crops like switchgrass and from biomass.
March 2013: Deal to sell TNK-BP stake to Rosneft was completed
On 21 March 2013, the deal in which BP sold its stake in TNK-BP to Rosneft was completed.
May 2013: European Commission starts investigation
In May 2013, the European Commission started an investigation into allegations that BP and other companies reported distorted prices to the price reporting agency Platts to manipulate published prices for oil and biofuel products.
October 2013: Trial finds BP negligent but absolved of wrongdoing
In October 2013, a trial designed as a test for a larger suit that includes 45,000 people found that BP was negligent in the case of the 2010 emission, but due to a lack of substantial evidence linking illness to the emissions, the company was absolved of any wrongdoing.
December 2013: Report of Dolphin Deaths
In December 2013, it was reported that dolphins and other marine life continued to die in record numbers with infant dolphins dying at six times the normal rate, and half the dolphins examined in a December 2013 study were seriously ill or dying.
2013: Renewable energy project spending through completion
According to BP, through completion in 2013, the company spent a total of $8.3 billion in renewable energy projects including solar, wind, and biofuels, and non-renewable projects including natural gas and hydrogen power.
2013: Lawsuit filed against BP by Galveston County residents
In 2013, 474 Galveston County residents filed a $1 billion lawsuit against BP, accusing the company of "intentionally misleading the public about the seriousness" of a two-week release of toxic fumes which began on 10 November 2011.
2013: Controversy over BP content on Wikipedia
In 2013, controversy emerged over the amount of content from BP that had entered this article on Wikipedia. Wikipedia co-founder Jimmy Wales stated that the contributor had complied with site policy.
2013: Shareholders criticized the Sunrise oil sands project
In 2013, shareholders criticized the Sunrise oil sands project for being carbon-intensive.
2013: Oil remains in the gulf
In 2013, studies suggested that as much as one-third of the released oil from Deepwater Horizon remained in the Gulf of Mexico. Further research indicated that the oil on the seafloor was not degrading, and affected coastal areas experienced increased erosion due to the death of mangrove trees and marsh grass in 2013.
2013: Studies on cleanup workers and mental health
Research discussed at a conference in 2013 showed that oil spill cleanup workers carried biomarkers of chemicals from the oil and dispersants. Separate studies in 2013 also found that a significant percentage of Gulf residents reported mental health problems such as anxiety, depression, and PTSD.
March 2014: Study finds heart deformities in fish
In March 2014, a study published in Proceedings of the National Academy of Sciences found that tuna and amberjack exposed to oil from the Deepwater Horizon spill developed deformities of the heart and other organs. The study linked the oil spill to toxins that caused cardiac arrest in fish.
March 2014: The ban was conditionally lifted
In March 2014, the U.S. Government conditionally lifted a ban from bidding any new federal contracts that was imposed on BP in November 2012.
June 2014: BP agreed to supply CNOOC with liquefied natural gas
In June 2014, BP agreed to a deal worth around $20 billion to supply CNOOC with liquefied natural gas.
2014: Plans cancelled to develop acreage in the Utica Shale
In 2014, BP acquired an acreage in the Utica Shale but these developments plans were cancelled.
2014: BP backs LGBT study
In 2014, BP backed a global study researching challenges for lesbian, gay, bisexual and transgender employees.
2014: Study published on fish heart deformities
In 2014, a study published in Proceedings of the National Academy of Sciences found heart deformities in fish exposed to oil from the Deepwater Horizon spill, suggesting potential implications for humans as well.
December 2015: Investigation dropped due to lack of evidence
In December 2015, the European Commission dropped its investigation into BP and other companies for allegedly manipulating oil and biofuel prices due to a lack of evidence.
2015: Pollution Blamed for Cancer Rise
A leaked report from Ministry of Health (Iraq) blamed air pollution for 20% rise in cancer in Basra between 2015 and 2018.
2015: Settlement with five states
In 2015, BP and five states agreed to an $18.5 billion settlement to be used for Clean Water Act penalties and various claims related to the Deepwater Horizon oil spill.
2015: BP decided to exit from other lignocellulosic ethanol businesses
In 2015, BP decided to exit from other lignocellulosic ethanol businesses. It sold its stake in Vivergo to Associated British Foods. BP and DuPont also mothballed their joint biobutanol pilot plant in Saltend.
2015: BP listed as fiercest opponent of climate action in Europe
In 2015, BP was listed by Influence Map, a UK-based non-profit organisation, as the fiercest opponent of action on climate change in Europe.
2015: BP known for liberal policies for gay and transgender workers
In 2015, Reuters wrote that BP is "known for their more liberal policies for gay and transgender workers".
2015: BP agreed to sell the former Statoil aviation fuel businesses
In 2015, Statoil Fuel & Retail sold its aviation fuel business to BP. To ensure the approval of competition authorities, BP agreed to sell the former Statoil aviation fuel businesses in Copenhagen, Stockholm, Gothenburg and Malmö airports to World Fuel Services.
2015: Tacit collusion analysis
In 2015, a dataset of gasoline prices was used to show the tacit collusion between retailers via statistical analysis.
November 2016: Settlement reached in lawsuit regarding underground storage tanks
In November 2016, BP settled a lawsuit for $14 million. The lawsuit was filed by Santa Barbara County District Attorney and other parties over allegations that BP violated state laws regarding operating and maintaining motor vehicle fuel underground storage tank laws at approximately 780 gas stations in California over a period of ten years.
2016: BP offers LGBT workers equal protection and benefits
A 2016 article in the Houston Chronicle said BP was "among the first major companies in the United States to offer LGBT workers equal protection and benefits roughly 20 years ago".
2016: BP Norge merged with Det Norske Oljeselskap to form Aker BP
In 2016, BP's Norwegian daughter company BP Norge merged with Det Norske Oljeselskap to form Aker BP.
2016: BP claims cleanup would boost economies
In 2016, documents from a bid to drill in the Great Australian Bight revealed BP's claims that a large-scale cleanup operation following a massive oil spill would bring a "welcome boost to local economies."
2016: BP ranked 15th out of 18 on indigenous rights and resource extraction
In a 2016 study, BP was ranked 15th out of 18 levels (37th out of 92 oil, gas and mining companies) on indigenous rights and resource extraction in the Arctic. The ranking considered commitments, staffing, track records, transparency, and consultation procedures.
2016: Ruhr Öl was dissolved
Ruhr Öl, in which BP had a stake through the Veba Öl AG acquisition, was dissolved in 2016.
March 2017: BP Acquires Clean Energy's Biomethane Business
In March 2017, BP acquired Clean Energy's biomethane business and assets, including its production sites and existing supply contracts.
April 2017: BP reached an agreement to sell its Forties pipeline system
In April 2017, BP reached an agreement to sell its Forties pipeline system in the North Sea to Ineos for $250 million.
April 2017: Butamax Acquires Nesika Energy
In April 2017, Butamax, a subsidiary of BP, bought an isobutanol production company named Nesika Energy.
April 2017: BP floated its subsidiary BP Midstream Partners LP
In April 2017, the company floated its subsidiary BP Midstream Partners LP, a pipeline operator in the United States, at the New York Stock Exchange.
April 2017: BP acquires Timis Corporation interests in Senegal
Regarding the acquisition of Timis Corporation interests in Senegal in April 2017, BP states that it "paid what it considered a fair market value for the interests at this stage of exploration/development".
2017: Lightsource BP solar capacity
As of 2017, Lightsource BP has commissioned 1.3 GW of solar capacity and manages about 2 GW of solar capacity. BP owns a 43% stake in Lightsource BP.
2017: BP Corporate Equality Index and adds gender reassignment surgery to benefits
In 2017, BP scored a 100% on the 2018 Human Rights Campaign's Corporate Equality Index and added gender reassignment surgery to its list of benefits for U.S. employees.
2017: Internal Email on Pricing Strategy
In 2017, an internal email at BP was drafted outlining a strategy to raise prices at certain sites in a region around Otaki in order to regain volume lost at that branch.
April 2018: Leaked email leads to price investigation
In April 2018, an internal email from mid 2017 was leaked in New Zealand, revealing a strategy to raise prices at certain sites in a region around Otaki to regain lost volume, prompting a government investigation into regional prices.
December 2018: BP Sells Texas Wind Assets
In December 2018, BP divested its wind assets located in Texas.
December 2018: BP's Global Operations
As of 31 December 2018, BP had operations in 78 countries worldwide, with its global headquarters located in London, United Kingdom.
December 2018: BP holds stake in Rosneft
As of December 2018, BP holds a 19.75% stake in Russia's state-controlled oil company Rosneft.
2018: Pollution Blamed for Cancer Rise
A leaked report from Ministry of Health (Iraq) blamed air pollution for 20% rise in cancer in Basra between 2015 and 2018.
2018: BP Operates UK's Largest Electric Vehicle Charging Network
As of 2018, BP operates the UK's largest electric vehicle charging network through its subsidiary BP Pulse (formerly Chargemaster). There are 1,200 BP service stations in the UK.
2018: BP Downstream Operations
As of 2018, BP owned or had a share in 11 refineries, with its downstream activities including the refining, marketing, manufacturing, transportation, trading and supply of crude oil and petroleum products.
2018: BP scored 100% on the 2018 Human Rights Campaign's Corporate Equality Index
BP scored a 100% on the 2018 Human Rights Campaign's Corporate Equality Index, which was released in 2017, although this was the most common score.
2018: BP Acquires Chargemaster
In 2018, BP acquired Chargemaster, which operated the UK's largest electric vehicle charging network.
2018: BP Upstream production and reserves
In 2018, BP produced around 3.7 million barrels per day of oil equivalent, including 2.191 million barrels per day of liquids and 8.659 billion cubic feet per day of natural gas. BP had total proved reserves of 19,945 million barrels of oil equivalent in 2018.
2018: BP contributed to campaign opposing carbon fee initiative
In 2018, BP was the largest contributor to the campaign opposing carbon fee initiative 1631 in Washington State.
2018: BP's Production in the United States
In 2018, BP's total production in the United States included 385,000 barrels per day of oil and 1.9 billion cubic feet per day of natural gas, with a refinery throughput of 703,000 barrels per day.
2018: Investment in low-carbon energy and technology
In 2018, the CEO Bob Dudley said that out of BP's total spending of $15 to $17 billion per year, about $500 million would be invested in low-carbon energy and technology.
January 2019: BP Discovers Oil and Announces Atlantis Field Investment
In January 2019, BP discovered 1 billion barrels of oil at its Thunder Horse location in the Gulf of Mexico and announced plans to invest $1.3 billion in a third phase of its Atlantis field near New Orleans.
January 2019: Helge Lund Succeeds Carl-Henric Svanberg as Chairman
On January 1, 2019, Helge Lund took over from Carl-Henric Svanberg as the chairman of BP Plc's board of directors.
2019: BP ranked as 6th largest emitter of greenhouse gases
According to a 2019 Guardian ranking, BP was the 6th largest emitter of greenhouse gases in the world.
2019: BP's Oil Equivalent Production in the Gulf of Mexico
As of 2019, BP produced about 300,000 barrels per day of oil equivalent in the Gulf of Mexico.
2019: BP production levels
BP planned to drop its oil and gas production to fall by at least one million barrels a day by 2030, a 40% reduction on 2019 levels.
2019: BP and Didi Chuxing Form Joint Venture
In 2019, BP and Didi Chuxing established a joint venture with the purpose of building out electric vehicle charging infrastructure in China.
2019: BP stated global crude demand will never surpass 2019's average
In BP's Energy Outlook 2020, BP stated that the changing energy landscape coupled with the economic toll of the COVID-19 pandemic means that the global crude demand will never again surpass 2019's average. The demand of crude oil will not surpass the 2019's average.
2019: BP acquires stake in Thorntons LLC
Since 2019, BP has owned half of Kentucky-based convenience store company Thorntons LLC with ArcLight Capital Partners.
February 2020: BP Joint Venture with EnBW for Offshore Wind Capacity
In February 2020, BP announced a Joint Venture with EnBW to develop and operate 3GW off Offshore Wind capacity in the Crown Estate Leasing Round 4. This marks BP's first move into Britain's Offshore wind market.
February 2020: BP set goal to cut emissions to net-zero by 2050
In February 2020, BP set a goal to cut its greenhouse gas emissions to net-zero by 2050, seeking net-zero carbon emissions across its operations and the fuels it sells. BP restructured its operations into four business groups and discontinued involvement with several lobbying groups due to differences in methane and carbon policies. However, BP failed to disclose eight anti-climate trade associations.
February 2020: Bob Dudley ended his CEO position
In February 2020, Bob Dudley ended his CEO position.
February 2020: Bernard Looney Succeeds Bob Dudley as CEO
On February 5, 2020, Bernard Looney succeeded Bob Dudley as the chief executive of BP.
August 2020: BP America criticised elimination of federal requirements to detect methane leaks
In August 2020, BP America's chairman David Lawler criticised the elimination of federal requirements to install equipment to detect and fix methane leaks, stating that federal regulation is essential.
August 2020: BP promises to increase annual low carbon investments
In August 2020, BP promised to increase its annual low carbon investments to $5 billion by 2030.
September 2020: BP Partners with Equinor for Offshore Wind Development
In September 2020, BP formed a partnership with Equinor to develop offshore wind and announced it would acquire a 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms.
December 2020: BP Acquires Majority Stake in Finite Carbon
In December 2020, BP acquired a majority stake in Finite Carbon, the largest forest carbon offsets developer in the United States.
December 2020: BP Sells Stake in Trans-Alaska Pipeline System
On December 14, 2020, BP sold its 49% stake in the Trans-Alaska Pipeline System to Harvest Alaska.
2020: BP's Operations Focus
As of 2020, and following the sale of its Andrew and Shearwater interests, BP's operations were focused in the Clair, Quad 204 and ETAP hubs.
2020: BP stated global crude demand will never surpass 2019's average
In BP's Energy Outlook 2020, BP stated that the changing energy landscape coupled with the economic toll of the COVID-19 pandemic means that the global crude demand will never again surpass 2019's average. BP was also attempting to move from being an international oil company into becoming an integrated energy company that would focus on low-carbon technologies while also setting a target to reduce its overall oil and gas production by 40% by 2030.
March 2021: BP Kwinana refinery conversion to import terminal
In March 2021, BP's Kwinana refinery in Western Australia, which supplied about 70% of the state's fuel needs, was converted to an import terminal.
July 2021: BP to fully own Thorntons LLC
On 13 July 2021, BP announced it would acquire ArcLight Capital Partners' share of Thorntons LLC, thus fully owning the convenience store company. The deal was expected to close later in the year.
2021: BP acquires US solar projects
In 2021, BP acquired 9 GW of US solar projects, and is a majority shareholder in carbon offset developer Finite Carbon.
2021: BP ranked as 5th most environmentally responsible company
In 2021, BP was ranked as the 5th most environmentally responsible company out of 120 oil, gas, and mining companies in the Arctic Environmental Responsibility Index (AERI).
2021: GHG emissions contribute to climate change
In 2021, BP's oil extraction and refining processes were identified as significant contributors to climate change due to greenhouse gas (GHG) emissions. The refining process emits substantial amounts of carbon dioxide and methane, both of which are major contributors to global warming.
February 2022: BP Acquires Stake in Green Biofuels Ltd
In February 2022, BP announced it acquired a 30% stake in the London-based company, Green Biofuels Ltd, a producer of renewable hydrogenated vegetable oil fuels that can be used as a direct replacement for diesel.
September 2022: Fire at BP's Husky Toledo refinery
On September 20, 2022, a fire at BP's Husky Toledo refinery resulted in the death of two workers. The fire was extinguished the same day, but the refinery remained shut down. It was initially expected that the refinery's shutdown would increase American petrol prices.
October 2022: BP Announces Acquisition of Archaea Energy Inc.
In October 2022, BP announced that it would be acquiring Archaea Energy Inc., a renewable natural gas producer, for $4.1 billion.
November 2022: BP Announces Large Increase in Profit
In November 2022, the company announced a large increase in profit for the period from July to September due to the high fuel prices caused by the Russian invasion of Ukraine.
December 2022: BP Completes Acquisition of Archaea Energy Inc.
In December 2022, it was announced BP had completed the acquisition of Archaea Energy Inc. for $3.3 billion.
December 2022: U.S. House Committee accused BP of greenwashing
In December 2022, the U.S. House Oversight Committee accused BP, along with ExxonMobil, Chevron, and Shell, of greenwashing their Paris Agreement pledges, promoting natural gas as clean energy, intimidating journalists, and obstructing the Committee's investigation.
2022: Clean energy spending insignificant and opaque
A 2022 study found that BP's spending on clean energy was insignificant and opaque, with little to suggest that the company's discourse matched its actions.
2022: BP's market capitalization in 2022
As of 2022, BP had a market capitalization of US$98.36 billion, placing it 122nd in the world.
2022: BBC Investigation Finds Waste-Gas Burning Near Homes
In 2022, a BBC investigation found that waste-gas was being burned as close as 350 meters from people's homes near the Rumaila oil field operated by BP.
2022: BP Announces Sale of Rosneft Stake Following Invasion of Ukraine
In 2022, in response to the Russian invasion of Ukraine, BP announced its intent to sell its 19.75% stake in Rosneft. Rosneft's activities accounted for around half of BP's oil and gas reserves and a third of its production.
2022: Petrochemical industry as a major source of air pollution
In 2022, it was reported that despite advancements in operational efficiency, the broader petrochemical industry, including BP, continues to be a major source of air pollution due to the combustion of fossil fuels.
2022: BP Reports Record Annual Profits for 2022
In February 2023, BP reported record annual profits, on a replacement cost basis, for the year 2022. These 2022 profits were more than double those of 2021, marking the biggest profits in BP's 114-year history.
February 2023: BP Agrees to Acquire TravelCenters of America
In February 2023, BP agreed to acquire truck stop service company TravelCenters of America for $1.3 billion.
April 2023: BP Launches New Oil Rig Argos in the Gulf
In April 2023, BP launched a new oil rig, the Argos, in the Gulf of Mexico.
April 2023: Refinery Reopens
In April 2023, BP's Husky Toledo refinery which had been shut down since September 2022, started operating again.
May 2023: BP Completes Acquisition of TravelCenters of America
In May 2023, BP completed the purchase of TravelCenters of America.
August 2023: BP Resumes Exploration in Ghadames Basin and Offshore Block C
After 10 years of force majeure, in August 2023 BP, Eni, and Sonatrach resumed exploration in their blocks in the Ghadames Basin (A-B) and offshore Block C, continuing their contract obligations.
2023: BP stated it would aim for a 20-30% emission reduction
After initially pledging to reduce its emissions by 35% by 2030, BP stated in 2023 that it would aim for a 20-30% reduction instead.
2023: BP scaled back emissions targets
In 2023, following the announcement of record profits, BP scaled back their emissions targets, revising the target to a 20-30% cut in emissions.
January 2024: Murray Auchincloss Becomes CEO
In January 2024, Murray Auchincloss became the CEO of BP.
June 2024: BP Announces Acquisition of Bunge Bioenergia
In June 2024, BP announced the acquisition of Bunge Bioenergia from Bunge Global for US$1.4 billion. This purchase will increase BP's ethanol production to 50,000 barrels per day.
October 2024: BP scrapped plan to reduce oil and gas production
In October 2024, BP scrapped its plan to reduce its overall oil and gas production and is looking to increase its oil and gas production instead.
October 2024: BP scraps oil and gas production cut plans
In October 2024, BP scrapped its plans to cut oil and gas production by at least one million barrels a day by 2030 (a 40% reduction on 2019 levels), and instead planned for an increase in production.
November 2024: BP Announces Carbon Capture and Gas Field Development in Indonesia
In November 2024, BP and partners announced plans to invest $7 billion in a carbon capture and gas field development in Indonesia's West Papua Province, with the potential of almost 3 trillion cubic feet of gas resource. Production is expected to begin in 2028 in the Tangguh gas field.
2024: BP operations in 2024
As of 2024, BP had operations in 61 countries, producing around 2.4 million barrels per day of oil equivalent, and had total proven reserves of 6.25 billion barrels of oil equivalent. The company operates around 21,200 service stations worldwide under the BP, Amoco, and Aral brands.
2024: Agreement with Vitol Expected
BP's Türkiye Operator was Petrol Ofisi, with an agreement in place expected in 2024 with Vitol.
2024: BP Increases Dividend and Accelerates Share Buybacks
In early 2024, BP increased its dividend by 10% year-on-year and accelerated share buybacks. The company announced $1.75 billion in buybacks before reporting first quarter results and intends to announce a $3.5 billion share buyback in the first half of the year.
2024: Hydrogen production at Lingen refinery expected to begin
In partnership with Ørsted A/S, BP plans a 50 MV electrolyser at the Lingen refinery to produce hydrogen using North Sea wind power, with production expected to begin in 2024.
January 2025: BP Announces Staff and Contractor Cuts
In January 2025, BP announced plans to cut 4,700 staff and 3,000 contractors, which represents more than 5% of its total workforce.
February 2025: BP announced plans to significantly reduce its investment in renewable energy
In February 2025 BP announced plans to significantly reduce its investment in renewable energy, whilst increasing that in oil and gas production by 20%.
February 2025: BP Declares Focus on Oil and Gas, Cutting Renewable Energy Investments
In February 2025, BP declared that it would cut renewable energy investments and focus on increasing oil and gas production. The plans include an increase in investment in the two fossil fuels of around 20% to $10 billion per year, while decreasing planned funding for renewables by more than £5 billion.
February 2025: BP Signs $25 Billion Deal to Redevelop Oil and Gas Fields in Kirkuk
In February 2025, BP signed a $25 billion deal to redevelop four oil and gas fields in Kirkuk, Iraq.
May 2025: Shell Considers Acquisition of BP
In May 2025, Bloomberg reported that rival Shell plc was considering an acquisition of BP.
July 2025: Board members
As of July 2025, individuals serve on the board.
July 2025: Appointment of Albert Manifold as Chairman
In July 2025, BP announced the appointment of Albert Manifold as its next chairman from 1 October 2025, replacing Helge Lund.
August 2025: BP Announces Major Oil and Gas Discovery in Brazil
In August 2025, BP announced its greatest oil and gas field discovery in the last 25 years. The discovery was in the Bumerangue prospect, located about 400 km offshore in Brazil's deepwater Santos Basin.
October 2025: Albert Manifold Becomes Chairman
In July 2025, BP announced the appointment of Albert Manifold as its next chairman from 1 October 2025, replacing Helge Lund.
2025: Renewables portfolio target of 20 GW
BP has set targets to have a renewables portfolio of 20 GW by 2025, as part of its plans to transform into an integrated energy company with a renewed focus on investing away from oil and into low-carbon technologies.
2025: Transition to biorefinery and green hydrogen production facility
In 2025, the former Kwinana refinery was transitioning into a biorefinery and green hydrogen production facility. However, BP announced it was ending its role in producing hydrogen in the region in 2025.
2028: Production Expected to Start at Tangguh Gas Field
In November 2024, BP and partners announced plans to invest $7 billion to a carbon capture and gas field development in Indonesia's West Papua Province that has the potential of almost 3 trillion cubic feet of gas resource. Production plans are expected to start in 2028 in the Tangguh gas field.
2030: BP stated it would aim for a 20-30% emission reduction by 2030
After initially pledging to reduce its emissions by 35% by 2030, BP stated in 2023 that it would aim for a 20-30% reduction instead.
2030: Original target to drop oil and gas production
BP originally planned to drop its oil and gas production to fall by at least one million barrels a day by 2030, a 40% reduction on 2019 levels, but this was scrapped in October 2024.
2030: Renewables portfolio target of 50 GW
By 2030, BP has set targets to have a renewables portfolio of 50 GW, as part of its plans to transform into an integrated energy company with a renewed focus on investing away from oil and into low-carbon technologies.
2030: BP set a target to reduce its overall oil and gas production by 40% by 2030
In BP's Energy Outlook 2020, BP was attempting to move from being an international oil company into becoming an integrated energy company that would focus on low-carbon technologies while also setting a target to reduce its overall oil and gas production by 40% by 2030.
2050: BP set goal to cut emissions to net-zero by 2050
In February 2020, BP set a goal to cut its greenhouse gas emissions to net-zero by 2050, seeking net-zero carbon emissions across its operations and the fuels it sells. The goal is set for 2050.
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