BP is World´s Leader in Environmental Performance

Study shows European oil/gas companies strongest; alternative energies yet underdeveloped

December 09, 2009 - Press Dispensary - Madrid, Sao Paulo: BP is the most environmentally sustainable large oil/gas company, according to a study by the sustainability auditing company Management & Excellence (M&E, Madrid, Sao Paulo) on the environmental performance of oil/gas companies. The study analyzes the World´s ten largest oil/gas companies´ compliance with 198 environmental items in seven areas ranging from energy savings and waste reduction to alternative energies.

The study comes at a time when the World is looking to the U.N. Copenhagen Climate conference for solutions to pressing global environment problems. Over 80% of the World´s energy needs are still covered by fossil fuels.

BP is ranked 1st under “alternative energies” and “environmental transparency”, ranking 2nd in “safety”. BP is working to recoup its image after an explosion in its Texas City refinery in 2005. Meanwhile BP has externally certified all but two of its facilities according to ISO 14001 and has succeeded in reducing its CO2 emissions every year since at least 2004 from 76.8 million tons to 75 million in 2009 in line with steady decreases in refined fuels marketed from 3,872 barrels/day in 2006 to 3,711 in 2008. Yet flaring has constantly increased.

Top-10 Environmentally Sustainable Oil/Gas Companies 2009

Rank	Company	Compliance Performance %
1st	BP	77%
2nd	Petrobras	75%
3rd	Total	74%
4th	Chevron	73%
5th	ENI	72%
6th	ExxonMobil	62%
	Average	59%
7th	Shell	51%
8th	Sinopec	40%
9th	Gazprom	36%
10th	Petrochina	30%

Source: Management & Excellence

Only BP seems to have a real business in alternative energies, setting up its own alternative energy company. Its investments totaled $1.4 billion (0.38% of 2008 revenues) in wind, solar, biofuels and carbon capturing. Its solar panel sales grew by 41% in 2008, while wind and biofuels appear to be predominantly in more initial stages. Gazprom and Petrochina came in weakest, scoring 14% under alternative energies.

Brazil´s Petrobras is tops in ethanol production, a program initiated in Brazil in the 1970´s and currently being massively expanded with investments of $2.8 billion. Petrobras invested $1.9 billion in “environmental modernization” of its production—a typical trend in an industry pressured by lower margins resulting from higher exploration costs.

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Notes for editors
Management & Excellence (M&E) is a sustainability auditing and rating agency located in Madrid and Sao Paulo which pioneered sustainability ratings and calculating the financial returns of sustainability investments using its own Return on Sustainability – ROS® method. It specializes in the oil/gas and banking sectors, and has been partnered with the Oil&Gas Journal Online for years in its studies on this industry.

For more information on the study:
Angelica Blanco
Email:

Dr. William Cox
Email:

Site: http://www.management-rating.com

Jointly marketed with Oil/Gas Journal Online Research Center