British Petroleum As A Company - 2382 Words

Intro and Background British Petroleum as a company was founded in 1954, however its roots go back another half century. British geologists discovered oil underneath Iran in 1908 and by 1909 the Anglo-Persian Oil Company (APOC) began drilling for the British government. APOC benefited from World War I as it was predicted all British naval ships will soon be converted from coal to oil and the company could spread further into Europe. Refineries were built in Whales, Scotland and were bought in France and Australia. In 1935, APOC was officially changed to Anglo-Iranian Oil Company (AIOC) due to Persia being referred to as Iran. World War II gave rise to nationalism inside the Arab countries including Iran. The Iranian government in 1951 obtained control of the Iranian oil industry forming the National Iranian Oil Company and consequently pushing out the AIOC. The American and British governments worked to over throw the Iranian government in 1953 to regain control of oil in Iran. AIOC became the British Petroleum Company (BP) in 1954 after a holding company Iranian Oil Participants (IOP) brought Iranian oil back to the western market. BP expanded into Canada, Libya and the United States by buying out existing companies and was the first oil company to strike oil in the North Sea. Known for its risky business ventures, BP quickly became the world s third largest oil company by acquiring other oil companies such as the Standard Oil of Ohio and Amoco. The company s rapidShow MoreRelatedThe British Petroleum Company Plc1946 Words   |  8 PagesThe British Petroleum Company plc (BP) is one of the five largest oil companies in the world today. It is United Kingdom’s largest corporation. BP discovered oil in Iran before World War I. By the mid 1990’s it produced over 1.5 million cubic feet of natural gas every day. It has more than 16,400 service stations around the world. It is an integrated oil and gas company. The company provides its customers fuel used in transportation, petrochemical products that are used in making paints, clothesRead MoreCompany Background Of British Petroleum1777 Words   |  8 Pages1. Problem Analysis: Company Background: British Petroleum(BP) is one of the world’s top oil and gas companies, it is also United Kingdom’s largest corporation. They mainly deal with Oil but since the last 40 years or so they have shown great interest in chemicals and plastics, including a range of specialty products such as detergents, advanced composite materials, and advanced ceramic engineered materials. BP has more than 16,000 service stations around the world. Around 13% of their revenue isRead MoreBp Is A British Petroleum Company Essay2194 Words   |  9 PagesBP is a British petroleum company that has plants throughout the world. BP is a company that has been through out many ups and downs in the past few years. However it is a company that has been doing well since the year 1908 which means that it has been operating for more than 100 years. BP is a company that is in the oil and gas sector as it is a company that provides petroleum to consumers all over the world. Is it one of the biggest oil and g as companies in the world. It is a company that hasRead MoreBritish Petroleum Company, Ltd.1778 Words   |  8 PagesCase Study British Petroleum Company, Ltd. (1987 Stock Offering) | | | | | | | | | | | | | | Read MoreBritish Petroleum ( Bp ) Oil Company1737 Words   |  7 Pages British Petroleum ( BP) Oil company, is one of the world s biggest global oil company that has had a track record of continuously wrecking and damaging multiple economies. BP is based in London, it was founded in 1908, originated in the northern eastern hemisphere from Persia . BP merged with Amoco and works with Transocean,and Halliburton, BP has been at fault for quite a few oil leaks, explosions, Safety Lapses, refinery explosions, and the list goes on, and they have just repeatedlyRead MoreOil Field Report : British Petroleum Company Essay735 Words   |  3 PagesLocated in Southern Iraq, 20 miles from the Kuwaiti border, is the Rumaila oil field (Fig. 1). It is one the biggest oil fields in the world and the biggest in Iraq. Discovered in 1953 by the Basrah Petroleum Company (BPC) at 2.4 km below the surface, an associate company of the Iraq Petroleum Company, this super-giant oil field’s first estimated volume was thought to be 30 billion barrels in oil reserves (Bb) (Vassiliou 2009); it is now estimated to be 17 Bb (Hydrocarbons Technology n.d.). Si nceRead MoreBp Oil Spillage : British Petroleum Company1690 Words   |  7 PagesThe BP Oil Spillage British Petroleum Company (BP) is among the major international gas and oil companies in the world. It provides clients with energy for light and heat, fuel for transportation, lubricants, and other petrochemical products that are used in manufacturing various items. The company’s primary goal is to deliver value to its customers by utilizing its distinctive capabilities, managing the quality of its portfolio, and setting clear goals. However, an unprecedented explosion of BPRead MoreBritish Petroleum : The Top Major Gas And Oil Companies1942 Words   |  8 PagesCompany Profile British Petroleum British Petroleum is amongst the top major gas and oil companies. Its headquartered in London, England. British Petroleum is also ranked on the sixth position amongst the Gas and oil companies. British Petroleum is also into the production, exploration, distribution and marketing, refining, petrochemicals, trading and power generation(Al-Jubran Bu Hassan,2009). British Petroleum has its operations in more than 80 other nations. It is the leader in the sectorRead MoreBritish Petroleum And Oil Spill1197 Words   |  5 Pages The local people were affected by the oil change by having no job due to the water being toxic. The British Petroleum company do not take fault for the explosion but they cleaned up the oil spill. Although the British Petroleum contradicted themselves making the situation worse. The company failed to deliver an effective message to the world. The company miscommunicated which it made the company seem irresponsible and unreliable. Situations like this can be pre vented by having a public relationRead MoreMarket structure of bp1205 Words   |  5 Pages1-Pricing power controlled by companies (constrained by demand curve and possible) 2- the economic efficiency is low allocative but economies of scale and reinvested Profits . 2. In an oligopoly, there are only a few firms that make up an industry. This select group of firms has control over the price and, like a monopoly, an oligopoly has high barriers to entry. The products that the oligopolistic firms produce are often differentiated and, therefore, the companies, which are competing