BP PLC, London, expects to contribute $500 million to its U.S. defined benefit pension plan this year, said spokesman Robert Wine.
The plan had $6.1 billion in assets as of Sept. 30, according to Pensions & Investments data. As of Dec. 31, 2007, the plan had $7.4 billion in liabilities, according to a BP report, the latest available number. BP will make available year-end pension asset and liability data in March when it releases its annual report, Mr. Wine said.
BP expects to make no contribution to its U.K. defined benefit plan this year, the same as last year, because of the plans surplus position, Mr. Wine said. The U.K. plan had $31.6 billion in assets and $23.9 billion in liabilities as of Dec. 31, 2007, the latest figures in the BP report.
In 2008, BP made $500 million in pension contributions, primarily to the U.S. plan, Mr. Wine said.
BP had $3.1 billion in assets in other pension plans as of Dec. 31, 2007, the report said.