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. Last Updated: 07/27/2016

BP Aims for Higher Profits Through a Greener Image




LONDON -- Old economy stalwart BP Amoco has unveiled a new "green" global brand image and an online revamp of its gasoline stations, portraying itself as the supermajor of choice for the environmentally aware motorist.


"Beyond Petroleum f BP" purrs a television advertisement in a rebranding drive aimed at raising retail fossil fuel earnings by over 10 percent a year.


Chief executive John Browne said the new green, yellow and white sunburst corporate logo, replacing BP's venerable shield and named the Helios mark after the sun god of ancient Greece, showed a commitment to the environment and to solar power.


But he acknowledged that despite the heavily green tinge to the campaign, the priority of the world's No.3 publicly-traded energy company remained the bottom line.


"It's all about increasing sales, increasing margins and reducing costs at the retail sites," Browne told reporters, noting the company's 28,000 service stations around the world makes it a bigger retailer than McDonalds fast-food chain.


Browne said the company hoped the new stations, boasting internet access at the pump, would raise non-fuel retail sales to 50 percent of its marketing profits in due course.


He reiterated a previous announcement that the company was reverting to its old name of BP following two years as BP Amoco, in the wake of its acquisition of the former U.S. Amoco and more recent takeovers of Atlantic Richfield and Burmah Castrol.


A Greenpeace spokesman rejected the rebranding as a stunt.


"This is a triumph of style over substance. BP spent more on their logo this year than they did on renewable energy last year. A more appropriate logo would be a miserable polar bear on a melting ice pack," the spokesman said.