British Petroleum has reported increased production in the second quarter compared to the same period last year. Meanwhile, BP hopes a new promotional tie up with Ford will help to boost production and sales even further.
BP, the world’s second biggest oil firm by market value, has said its second-quarter production was up to around 4.1 million barrels of oil equivalent per day (boepd), compared to 3.97 million boepd in the second quarter of 2004. The news boosted BP’s share price in London by 4%, its largest single day gain in two years.
The London-based company added that the increases would ensure it was on target to achieve its 2005 production goal of 4.1 million to 4.2 million barrels of oil equivalent per day (boepd).
At the same time as working to increase production, BP has been developing a new alliance with Ford in North America.
Ford has outlined a shared aim with BP to link the two companies in the minds of consumers. As of July, this will involve all 2006 model Ford cars, pickups and SUVs in the US bearing gas caps that recommend BP to customers.
This is the first time in the US a major auto manufacturer has recommended an energy company’s fuels. Early joint efforts for the Ford/BP filler cap initiative in Europe have been very successful, and have paved the way for the current launch in the US. Nearly three million Ford products will feature fuel caps with Ford recommends BP and the BP helios logo.
At BP, our commitment to consumers is to deliver high quality fuel backed by our quality guarantee, said Gary Brinkworth, vice president of Marketing, BP US Fuels. We’re proud that Ford, a company well-known for its quality vehicles, values the BP brand and as its first choice for fuels. This endorsement from Ford recognizes our dedication to producing fuels that help to improve cars’ performance, efficiency and emissions.