One of the world’s largest fossil fuel companies, BP is a major supplier of oil to Israel and explores for fossil gas off its coast.
Oil produced by BP is estimated to account for 8% of the total crude oil that Israel imported between October 2023 - July 2024, according to Oil Change International. This makes BP the largest non-state supplier of oil to Israel, along with Chevron, whose share in Israeli oil imports was also 8%. BP produces this oil in Azerbaijan, which altogether exported to Israel 28% of its oil during that time. All oil exported from Azerbaijan to Israel flows through the Baku-Tbilisi-Ceyhan pipeline, which BP operates and partially (30%) owns.
Unlike fossil gas, which Israel produces itself, it completely relies on imports for its oil supply. Imported crude oil is refined in Israel into fuel and goes into the supply chain of local energy companies such as Bazan, Delek, Paz, and Sonol. These four companies are major fuel suppliers of the Israeli military, with Paz having a particularly controversial contract to supply jet fuel to the Israeli air force. The latter three companies are Israel’s largest commercial fuel suppliers, with gas stations across the country, including in Israel’s illegal settlements in the occupied Palestinian territory.
BP also explores for offshore fossil gas for Israel. In October 2023, shortly after the start of the Gaza genocide, Israel approved a joint bid for offshore gas exploration by BP, Israeli company NewMed, and Azeri state-owned SOCAR. This consortium's license is for an area in the Mediterranean Sea (Zone I) north of Leviathan, Israel’s largest producing fossil gas reservoir, off the coast of Haifa and Akka. The decision also included licenses to another consortium (Eni, Dana, and Ratio) to explore in a different zone south of Leviathan and off the coast of the Gaza Strip.
Israel’s Energy Minister took pride in the fact that the licenses were given while Israel is at war, saying that this shows how “major natural gas exploration companies put their trust in Israel's robustness,” even though the companies bid for the licenses months before October 2023. He added that the “companies have committed to unprecedented investment in natural gas exploration over the next three years, which would hopefully result in the discovery of new natural gas reservoirs. That in turn will solidify Israel's energy security, enhance the country's international relations, contribute to reduction in the cost of living, and form a secure backup energy source in order to accelerate the transition to renewable energies.”
BP’s other business in Israel includes a minority (5.07%) stake in Israeli start-up StoreDot, which specializes in fast-charging electric vehicle batteries.