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BP made a commitment in 2005 to spend $8 billion over 10 years on alternative energy. We are investing at a faster pace than this, and at the end of 2011 we had invested around $7 billion, with about $4 billion of that in the U.S.
Type:Publicly Traded Company
Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. With a workforce of 80,000 employees, BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future.
At BP Alternative Energy we're investing in new ways of providing energy - from innovative new solar and wind businesses to advanced biofuels and clean energy technologies such as the capture and storage of carbon dioxide from traditional fossil fuels. These will provide customers with clean, secure energy - and they will shape the evolution of the global energy industry in the coming decades.
In Biofuels, our business in conventional products such as bio-ethanol is already substantial, accounting for about 10% of the world market. However, as well as providing today's biofuels, we're also developing tomorrow's. We are investing $500 million over 10 years in the Energy Biosciences Institute to explore options for advanced biofuels and other applications of biotechnology to energy.