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BP invested into CIA-linked software firm 

Eirwen WilliamsEirwen WilliamsOctober 28, 2019 at 7:32 AM1
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BP made a venture-capital investment in Palantir, the controversial CIA-linked data analytics group co-founded by the billionaire Peter Thiel.

The oil and gas major invested in the firm in 2014 after it started to work with the California-based venture on digitising its oil operations.

Palantir works with the US immigration authorities, the Pentagon and CIA to compile data and provide intelligence to the government and large corporations.

Its collation software provided intelligence for planning US attacks, coordinating disaster relief and finding terrorist targets.  

The firm was famously involved in the 2011 assassination of Osama bin Laden when the CIA used Palantir to help identify the al-Qaeda leader’s location.

The firm’s CEO, Alex Karp, recently conceded that the company was “highly controversial and unpopular” in Silicon Valley. Palantir renewed its contract with the immigration authorities this year and its software has been used to track migrants on the Mexican border.

BP’s investment in Palantir is thought to have more than doubled since the initial stake, according to the Sunday Times. 

Palantir has a US$1.2 billion, 10-year contract to collate and analyse big data generated by BP oil wells, wind turbines and refineries. Bernard Looney, recently named as successor to BP’s CEO Bob Dudley, said Palantir was catalysing the BP’s digital progress during a speech in Paris last month.

Looney said Palantir had helped the UK-based giant develop the most advanced technology in the oil industry.

He told a private audience in Paris: “I believe we’ve travelled further than any other energy business. [Palantir was] right at the heart of that work.”

BP says in the North Sea it is extracting an extra 20,000 barrels a day because of a “digital twin” created by Palantir that enables real-time tweaks to equipment.

Palantir’s only product in 2014 was Gotham, which was software that collating data to allow the US forces to find homemade bombs on dirt roads in Iraq.

Palantir launched a commercial product called Foundry in 2016 when it started working with BP and completing one-off contracts with businesses. 

Palantir was founded in 2003 by Thiel, Karp and others with the aim to offer “world-class software” to the US intelligence services and received an early investment from In-Q-Tel, the CIA’s venture-capital wing. The firm is valued at around US$40 billion. 

 

BP says Palantir has revolutionised its extraction techniques. Picture credit: YouTube 

 

 

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Eirwen Williams
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Eirwen Williams is a Brussels-based journalist at Energy Reporters, specializing in European energy policy, market trends, technological innovation, and energy security. A graduate of NYU’s Journalism Institute, he examines how nations and industries are navigating the continent’s energy transition. With a focus on the forces driving change, his reporting highlights the interplay between regulation, infrastructure, and new technologies shaping Europe’s energy future. Contact: [email protected]

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1 Comment
  1. Michael Wensink on October 29, 2019 12:13 AM

    The Oil and gas are the best money laundering options in the world. You drive a pipe inn the ground and money comes out. You put your money into the income stream of a publicly traded company and it is multiplied on average 15 times in the price of the stock. The CIA is Americas Organized Crime branch of government and specializes in narcotics trafficking and has hundreds of billions of dollars a year to launder. America took the opium industry from the British empire in exchange for saving Britain from Hitler. The CIA was tasked with managing the business, the most profitable business in the world with a 90% markup.

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