Energy major bp aims to double convenience earnings by 2030

Energy major bp recently unveiled a series of new initiatives for innovating the future of fuel and convenience stations in the US

bp aims to double earnings from global convenience and mobility businesses by 2030 – increasing from around $5bn in 2019 – while delivering returns in the range of 15-20%.

To that end, it recently unveiled a series of new initiatives for innovating the future of fuel and convenience stations in the US, at the BP Amoco Marketers Association (BPAMA) Convention and Business Expo in San Antonio, Texas.

The company announced additional offers to help BPAMA members reimagine the consumer experience including:

  • Technology offerings from leading self-checkout providers Mashgin and Grabango
  • Enhancements to BPme Rewards, including an expansion of bp's Price Match subscription service and a partner offer with SpotHero
  • A new bp and Amoco consumer credit card coming in Summer 2022
  • Continued investment in differentiated quality fuel
  • EV charging options available to integrate into their networks
  • During the next decade, bp aims to increase customer touchpoints to 20mn. 

"In the US, our branded marketers serve as frontline representatives for the bp and Amoco brands within their local communities," said Emma Delaney, executive vice president, customers & products for bp. "They are critical to bp's convenience and mobility strategy and we are thrilled to continue offering new tools to support their business."

Over 80% of BP's branded volume is represented through BPAMA and over 20% of all BP Marketers are active in board or committee roles volunteering their time, expertise and business acumen to shape the strategy, programs and offers impacting the BP Marketer Channel of Trade. 

bp also leveraged this year's convention as an opportunity to 'give back', highlighting the company's focus on making a difference in local communities.

By teaming up with In Our Backyard, an activist organisation aimed at stopping human trafficking, bp is continuing to emphasise the important role site staff can play in fighting human trafficking by providing access to training and resources to their stations.

Attendees earned points towards a charitable donation, resulting in a $20,000 cheque presented to Cheryl Csiky, Executive Director of In Our Backyard at the end of the convention.

"This year's BPAMA convention fully encompassed all that we strive for as an organisation by highlighting our continued focus on taking bold steps to achieve our goals and deliver on bp's strategy to reimagine energy for people and the planet," said Greg Franks, senior vice president, mobility & convenience - Americas for bp. "We are looking forward to the continued success working hand-in-hand with our valued branded marketers."

bp, which aims to become a net zero company by 2050 or sooner, has grown margin share from convenience and electrification 4%, to 29%, since 2019.

Within its $14-16bn range for capital expenditure, it plans to allocate $5-7bn a year through to 2025 on convenience and mobility, and low-carbon energy. To read its annual report, click here.

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