BP Nederland

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BP Europe SE - BP Nederland
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Quick Facts
TypePublic
sectorOil and gas
Headquarters (Benelux Organization)Europoort Rotterdam, Netherlands
Year of Origin1996
Emissions (All Scopes)2.03 Megatons of CO2 (2020)
Total RevenueUSD 164.2 billion (2020)[1]
Stock ExchangeLSE (London), FWB (Frankfurt), NYSE (New York), FTSE100
Key PeopleKaren de Lathouder (CEO)
Number of Employees2000[2]
Subsidiaries
  • none

BP Europa SE - BP Nederland, stylized as BP Nederland, is the Dutch branch of BP and is active since 1996. Its main activities are the refining of oil and marketing of petrol and it is headquartered in Europoort-Rotterdam. Its largest operation is the refinery in Rotterdam, Refinery Rotterdam (bpRR), where the company processes about 400,000 barrels of oil a day into LPG, petrol, diesel, kerosine and various other endproducts.[3] Spanning about 390 acres it is one of the largest refineries in Europe. BP Nederland also operates about 350 gas stations in the Netherlands and provides aviation fuel to various sectors in the aviation sector under Air BP. BP Nederland has customers in aviation, agriculture, large industries and various other sectors and employs about 2000 people.

BP plc, stylized as BP, is a British oil and gas company. It is headquartered in London, England and is one of the seventh largest oil and gas 'supermajors'. It operates in about 65 countries and employs about 65,900 people worldwide.[4] Over 2020 it reported a revenue of USD 164.2 billion[5] and produced around 2 billion barrels of oil a day.[6] The main activities of BPs operations include the exploration and extraction of gas and oil, refining, power generation and selling or exporting products such as petrol, kerosine, gas and diesel. The CEO of BP is Helge Lund and its CFO Bernard Looney.

Company Structure

BP plc is governed by a board of directors and a leadership team. The board of directors is in charge of broader policies and strategies and takes responsability for the large scale performances of the company. The leadership team is responsible for the day to day activities and represents the various operational segments of the company. The management structure of BP Nederland is not completely public. The CEO of BP Nederland is Karen de Lathouder. She is also the manager of the Rotterdam refinery. BP Nederland falls under BP europe, which in turn falls under BP plc.

Board of Directors

Executive Board
Name[7] Function Remuneration x1000 £[8]
Helge Lund Chair 804
Bernard Looney CEO 4,457
Murray Auchincloss CFO 2,438
Pamela Daley Independent non-executive director 191
Melody Meyer Independent non-executive director 174
Tushar Morzaria Independent non-executive director 136
Paula Rosput Reynolds Senior independent director 194
Karen Richardson Independent non-executive director 135
Sir John Sawers Independent non-executive director 148
Johannes Teyssen Independent non-executive director 128

Leadership Team

Leadership Team
Name Function
Bernard Looney CEO
Murray Auchincloss CFO
Gordon Birrell Production & operations
Giulia Chierchia Strategy, sustainability & ventures
Emma Delaney Customers & products
Anja-Isabel Dotzenrath Gas & low-carbon energy
Kerry Dryburgh People & culture
Carol Howle Trading & shipping
William Lin Regions, cities & solutions
Leigh-Ann Russel Innovation & engineering
Eric Nitcher Legal

Accountant

The independent auditor of bp is Deloitte LLP. In the report of Deloitte attached to the Annual Report 2021, the potential impact of climate change and the energy transition on bp is mentioned as a key audit matter.[9] Also in the report attached to the Annual Report 2019 and 2020, this was a key audit matter.[10] [11] In the Annual Report of 2019, Deloitte writes that because of "the significant increase in focus on this issue by management and by external stakeholders, and the potential impact on the financial statements as a consequence"[10] the potential impact of climate change and the energy transition was identified as a key audit matter.

BP also has an internal audit committee, chaired by Tushar Morzaria, to oversee the financial reporting of the company.

Main Activities

In a few sentences, describe the core activities of the company. In a bit more detail than in the introduction.

Government

To what extent can the government influence company policy? (shareholder, licensing authority, client etc.) Has company received NOW support or royal status?

Paris Agreement until Today

What has company done or refused to do since the Climate Accord of Paris? Per company, where applicable refer to research on the benefits of fossil companies in the form of subisidies etc.

Financial Results since 2015

This tabel is meant to indicate that the companies have plenty of money to make their company more sustainable. Clearly distinguish between Dutch data and international data.

Financial situation of BP plc (international)
Year Revenue Profit (loss) Dividend
2015 226 billion USD (6.40) billion USD 6.7 billion USD[12]
2016 186.6 billion USD 0.17 billion USD 4.6 billion USD[13]
2017 244.6 billion USD 3.47 billion USD 6.2 billion USD[14]
2018 303.7 billion USD 9.58 billion USD 6.7 billion USD [15]
2019 163.5 billion USD [5] 4.19 billion USD [5] 6.95 billion USD [16]
2020 109.1 billion USD [5] (20.73) billion USD [5] 6.34 billion USD [16]
2021 164.2 billion USD [5] 8.48 billion USD [5] 4.30 billion USD [16]

In most of the years, the dividend paid to shareholders was higher than the profit amount. From 2019 onward, the company changed the way revenue was presented. For 2019, it would have been 120 billion higher, had there be no change.

Scandals and controversies

Any dirt on the companies can be added here.

Current Emissions

BP Nederland

The Dutch emission authority (NEA) reports the emissions of the Rotterdam refinery, which accounts for the majority of the emissions of BP Nederland. In the table below, the emissions that they report is shown.

Total emissions Megatonnes of CO2
2018[17] 2.25 MtCO2e
2019[17] 2.15 MtCO2e
2020[17] 2.03 MtCO2e
2021[18] 2.12 MtCO2e


BP plc

The data in the table below are based on the data provided by bp. bp distinguishes their GHG emissions of Scope 1 and 2 in two categories: operational control and equity share.[19] Operational control data comprises the emissions from activities operated by bp, whereas equity share data covers emissions from subsidiaries and from joint arrangements and associates (the percentage of emissions equivalent to bp's share). bp's ambitions to become net zero in 2050, only focus on the operational control data. The table below however, shows the emissions from both categories.

Total emissions Megatonnes of CO2e
Scope 1 Scope 2 Scope 3* Total
2016[20] 101.5 MtCO2e 12.4 MtCO2e
2017[20] 99.9 MtCO2e 12.9 MtCO2e
2018[20] 95.3 MtCO2e 11.1 MtCO2e
2019[20] 95.2 MtCO2e 10.9 MtCO2e 360.6 MtCO2e 466.7 MtCO2e
2020[20] 83 MtCO2e 8 MtCO2e 327.6 MtCO2e 418.6 MtCO2e
2021[21] 69.7 MtCO2e 5 MtCO2e 303.6 MtCO2e 378.3 MtCO2e

(*) These are the estimated emissions from the carbon of their upstream oil and gas production.[22]

Climate Policy and Plans

Description of the climate plans and policy of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?

BP plc

In February 2022, BP plc announced improved sustainability aims.[23]
Part of the aims for BP plc is aiming for net zero by 2050 or sooner for Scopes 1, 2 and 3.[24] According to bp's sustainability paragraph[23] bp has a 2025 target and a 2030 aim for reduction (against 2019 baseline) for operations, production and sales, resulting in net zero in 2050. Not clear from the glossary[25] is how the reduction is to be achieved. BP states that net zero means achieving a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases (...).[25] It is questionable if natural or artifical carbon sinks can compensate for anthropogenic emissions.[26]

BP Nederland

Worldwide, and also in the Netherlands, BP is accelerating our electric vehicle (EV) charging ambition (...).[27]
At BP's Rotterdam refinery BP builds (with HyCC and the Port of Rotterdam) a green hydrogen plant (powered by offshore wind power, scheduled completion in 2025) to replace the current grey hydrogen at the Port of Rotterdam refinery.[27]

Due Diligence

Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.

Conclusion

Recap of the position and influence of the company. Are the climate plans of the company enough to be in line with goals of the Paris Agreement? Is the company doing enough? Are the companies targets realistic?

References

  1. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-fourth-quarter-2021-results.pdf p. 15
  2. ↑ https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 28-3-2022
  3. ↑ https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 29-3-2022
  4. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2
  5. ↑ 5.0 5.1 5.2 5.3 5.4 5.5 5.6 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p.173
  6. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2 and 15
  7. ↑ https://www.bp.com/en/global/corporate/who-we-are/board-and-executive-management/the-board.html
  8. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 122 and 132
  9. ↑ bp. (2022). Annual Report 2021 Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf
  10. ↑ 10.0 10.1 bp. (2020). Annual Report 2019, p.132, retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2019.pdf
  11. ↑ bp. (2021). Annual Report 2020. Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2020.pdf
  12. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129
  13. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129
  14. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129
  15. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2018.pdf p. 133
  16. ↑ 16.0 16.1 16.2 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p.177
  17. ↑ 17.0 17.1 17.2 https://www.emissieautoriteit.nl/documenten/publicatie/2021/05/05/ets-uitstoot-2020
  18. ↑ Nederlandse Emissieautoriteit. (2022). Emissiecijfers over 2021. Retrieved from https://www.emissieautoriteit.nl/documenten/publicatie/2022/04/14/emissiecijfers-2021
  19. ↑ bp. (2022). Sustainability report 2021, p.22. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html
  20. ↑ 20.0 20.1 20.2 20.3 20.4 bp. (2021). ESG data sheet 2020, p.6. Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/group-reports/bp-esg-datasheet-2020.pdf
  21. ↑ bp. (2022). ESG datasheet 2021. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html
  22. ↑ bp. (2022). Sustainability report 2021, p.23. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html
  23. ↑ 23.0 23.1 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 51
  24. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 21
  25. ↑ 25.0 25.1 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 378
  26. ↑ https://www.europarl.europa.eu/news/en/headlines/society/20190926STO62270/what-is-carbon-neutrality-and-how-can-it-be-achieved-by-2050 accessed 1-4-2022
  27. ↑ 27.0 27.1 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 23
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