Business Matters Online Special Section

Today, the industry is seeking more secure sources of crude oil to help enhance the energy security of North America — and at the same time, help enhance job security for North American workers. Toward that end, BP and Canadian oil company Husky Energy have finalized two independent 50/50 operating joint ventures. The first joint venture will allow BP to acquire a half-share in Husky Energy’s Sunrise field in Alberta, Canada. The second venture calls for Husky to acquire a half-share in BP’s refinery in Oregon. These ventures will increase the Refinery’s access to secure, reliable sources of crude oil from North America, and help ensure its future for years to come.

With this new era comes change, as well as renewed commitment to those values that must never be altered. To start, the name of the Toledo Refinery has changed to BP-Husky Refining LLC. However, BP will continue to operate the plant and all of its employees will remain BP staff. Husky employees will operate the Sunrise field in Alberta, Canada and will remain Husky staff.

As always, the Refinery’s top priority will remain the safe, responsible and reliable operation of the facility. BP-Husky Refining LLC will stay focused on working and operating safely, which includes protecting the environment and our surrounding community. Since 2000, the plant has reduced regulated air emissions by 42% and total water emissions by 30%.

BP and Husky Energy also plan to invest a total of $2.5 billion at the Refinery for production upgrades between now and 2015. This investment will enhance the local economic outlook by increasing construction jobs and the use of local goods and services.

This is a historic event and investment for the Toledo Refinery. It helps BP-Husky Refining LLC remain a fixture in our business environment, and secures its continued support and dedication to our community for years to come — perhaps even another 90.

For more information about BP-Husky Refining LLC, visit www.bp.com.

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