BP is biggest loser among U.S. government contractors

|About: BP p.l.c. (BP)|By:, SA News Editor

BP, once the Pentagon’s top fuel supplier, is now the biggest loser among U.S. government vendors, according to data compiled by Bloomberg.

A combination of no big contracts awarded and promised military work withdrawn left BP with a net loss of $654M in federal contracts in the fiscal year that ended Sept. 30, compared with $2.5B in awards in FY 2012.

BP was suspended from new federal contracts and other work after the 2010 Gulf of Mexico oil spill; the Defense Department, by far the government’s biggest buyer of petroleum products, also withdrew promised funding of more than $400M last year, which BP is challenging in court.

In FY 2011, BP was the largest seller of fuel to the military, with $1.37B in prime contracts, and a year later it ranked just below top-ranked Shell; in 2013, closely held Refinery Associates was the no. 1 supplier, with $1.34B, followed by World Fuel Services (INT), with $1.19B.