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BP Publishes Sustainability Report 2011-12

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BP Australia today published its Sustainability Report for the financial year 2011-12.

The report is externally verified and provides a balanced and reasonable view of key sustainability issues relating to BP’s operations across the country.

Paul Waterman, President, BP Australasia, said that the company was continuing to pursue growth opportunities.

“Over the period, the Australian economy has shown solid growth. While this has benefitted our commercial fuel sales business, the strength of the dollar and increased labour and maintenance costs continue to adversely impact our refineries.”

Safety-related metrics were broadly unchanged from 2011 although the number of severe traffic accidents and the incidence of minor fires did increase. Plans are in place to improve performance in both areas.

While total greenhouse gas emissions trended downwards, there were significant reductions in the emissions of Sulphur and Nitrogen oxides (NOx and SOx) and significant reductions in the use of potable water.

The volume of oil spilled in the period increased, partly due to a large spill from an underground diesel tank which was damaged by an earth tremor.

Financial performance saw historical cost profits increase to $1.972 billion

BP Australia is a major employer and the total headcount has risen to some 7,700. The company remains committed to building diversity of thought, experience, perspective and gender within the organisation and the company is proud to have been awarded a citation as an Employer of Choice for Women.

Following the award of offshore licences in the Great Australian Bight the company’s Exploration and Production business is expanding as exploration activity in the area continues. Subject to regulatory approval drilling will begin in summer 2015/16.

BP Australia’s 2012 Sustainability Report can be found at:www.bp.com.au/sustainability

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