BP To Sell US Headquarters

Published at 05:41PM - 05/08/16

BP is allegedly getting ready to sell its 390,000 square feet Helios Plaza building in Houston Texas, less than a week after it was announced it would lease a nearby company building.

Helios Plaza is one of BP’s Houston office buildings and is part of the Westlake campus in Houston’s so-called Energy Corridor, the company’s headquarters in the US.

In a statement yesterday, BP spokesman Jason Ryan confirmed the rumour and said there would be no impact on BP’s “commitment to Houston”.

“Our Westlake campus is our US headquarters and is home to one of the largest number of BP employees anywhere in the world”, he told the Houston Business Journal.

BP to Sell US Headquarters

In late March this year, BP had announced it was going to cut at least 500 jobs in Texas, as part of the 4,000 additional job cuts the supermajor had announced in January.

In January, the company had announced in Aberdeen that its workforce reduction plans would take place over the next two years to streamline the business, improve efficiency and reduce costs.

The UK oil giant plans to cut approximately 4,000 jobs across its global upstream sector by 2018.

By the end of 2017, the company expects a workforce of below 20,000 people, a spokesman informed at the time.

This means a reduction of the current force by at least 4,000 more people.

In the North Sea sector alone, a reduction of approximately 600 people is expected, with most of the job cuts taking place during 2016.

BP Sells Facilities to Fight Decreased Earnings

Additionally, BP Alaska announced earlier this year that it was planning to put its midtown Anchorage headquarters up for sale, leasing it back from a buyer.

At the time, it was reported that BP was exploring similar deals for other offices in the US and the UK, in an attempt to recover from several quarters of slumping earnings.

BP has not been the only oil and gas firm to forgo their main buildings.

Also recently, Chevron Corp. put an office building on the marketing, in California.

Also in Anchorage, in 2013, ConocoPhillips announced the sale of its Alaska headquarters to a partnership between local real estate developers.

Last updated on 04:03PM - 06/08/16