bp

bp is an integrated energy business with operations in Europe, North and South America, Australasia, Asia and Africa, delivering a diverse range of energy products and services to people around the world. bp’s new strategy, launched in 2020, will reshape its business as it pivots from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers, with a focus on low carbon electricity and energy; convenience and mobility; and the production of resilient and focused hydrocarbons.

Through the EITI, bp works with governments, non-governmental organisations and international agencies to improve transparency and disclosure of payments to governments. bp recognises the value of the EITI as an inclusive framework for transparency and dialogue, tailored to fit the local fiscal and legal regimes.

bp supports governments’ efforts towards compliance with the EITI standard and has worked with many countries over the years on the implementation of their EITI commitments. In 2019, the company enacted its global commitment through membership of the EITI Board and membership of the EITI Working Group on Transparency in Commodity Trading, supporting the development of voluntary reporting guidelines on the buying of oil, gas and minerals from governments.

Beyond bp’s engagement at EITI Board level, it works to support EITI implementation wherever it has a material upstream presence and participates actively in multi-stakeholder groups (MSGs) in countries where bp is active: 

In Iraq, bp represents the International Oil Companies (IOCs) on the MSG and is an active participant at sub-committee level, including work plan review and oversight of the corrective actions resulting from the validation process. bp also supports activities to promote the EITI and to streamline disclosure.

In Trinidad and Tobago, bp continues to be a committed and active supporter of TTEITI. It is a member of the MSG and chair of the technical sub-committee, providing technical input to the Secretariat.

In Mauritania, bp is a member of the multi-stakeholder group since its entry into the country. The company has played a key role in the promotion of transparency in Mauritania. bp is actively engaged in the MSG's activities, supporting the preparation of EITI reports and, in concert with other IOCs, helping to promote the EITI and communicate its activities.

In Senegal, bp represents the industry constituency on the MSG and is constructively engaged in national EITI activities and in the provision of data for EITI reporting. In 2019-20, with the National Institute for Oil and Gas, bp launched a series of workshops for a wide range of stakeholders, including media and civil society, to promote transparency and local participation. bp also continues to support engagement and dialogue with Senegalese civil society and parliamentarians on good governance and transparency.

In other EITI implementing countries, bp supports national EITI processes and is actively engaged through the relevant industry associations in Australia, Indonesia, Mexico, and the United Kingdom.

A commitment to leadership in transparency of reporting

bp is committed to being transparent about its tax principles and the taxes it pays.‎ In 2020, bp published its first tax report, ‎going beyond statutory obligations, to provide more transparent information about global tax practices and payments ‎by country. bp believes that transparent reporting about tax payments can help facilitate more informed conversations with stakeholders about the company’s contribution to economic ‎development, the part it plays in society, and the rigour of its ‎tax practices‎. It can also help stakeholders assess ‎the financial resources available to support the energy transition and the potential tax implications of a government’s strategic and ‎energy policy decisions related to it.‎

As required under national reporting regulations such as those in effect in the United Kingdom, bp also discloses information on payments to governments on a country by country and project basis. Its reports include information on the payments bp made to governments for its upstream activities, including in the form of production entitlements, taxes, royalties, bonuses, fees and infrastructure improvements.

Read more about the company's payments-to-governments and tax transparency reports on bp's website.