1909 the Anglo-Persian Oil Company. biograph&rn=A1D5C#Offr_153959, [60] www.saralee.com/ Between the wars Anglo-Persian expanded into Canada, South America, Africa, Papua and Europe and in 1935 the company was renamed the Anglo-Iranian Oil Company [33]. [102] http://yahoo.marketguide.com/mgi/biograph.asp?nss=yahoo&rt= [241], In Brazil, BP holds stakes in offshore oil and gas exploration in the Barreirinhas, Cear and Campos basins, in addition to onshore processing facilities. [435], Australia's 60 Minutes reported that people living along the gulf coast were becoming sick from the mixture of Corexit and oil. [339] In January 2005, the agency filed a second suit against BP based on violations between August 2002 and October 2004. [132][133] The deal was completed on 21 March 2013. biograph&rn=A1D5C#Offr_153959, [85] http://yahoo.marketguide.com/mgi/biograph.asp?nss=yahoo&rt= [229][230][231] In addition, it operates the Sangachal terminal and the Azerbaijan's major export pipelines through Georgia such as BakuTbilisiCeyhan, BakuSupsa and South Caucasus pipelines. BP has been involved in major environmental pollution and serious human rights violations. The roundtables position is explained in Rush to Judgment: A Primer on Global Climate Change, available on the groups website. [25] www.bp.com/about_bp/profile/serv_cust.asp [15] Consequently, Bob Dudley replaced Tony Hayward as the company's CEO, serving from October 2010 to February 2020. BPs advertising agency is Ogilvy & Mather and their PR consultants Ogilvy PR. The safety manuals read: "Avoid breathing vapor" and "Wear suitable protective clothing. Leaked from storage tanks, MTBE has been found in several water systems across the United States. BP is an oil and gas company whose headquarters are located in London, UK. The cables further said that some of BP's ACG partners complained that the company was so secretive that it was withholding information even from them. Wholly owned UK subsidiaries are suffixed by the letters Ltd (Limited Liability Company) and most US subsidiaries by the letters Inc. (Incorporated). [336], In a 2016 study, conducted by Indra verland of Norwegian Institute of International Affairs BP was ranked 15th out of 18 levels (in total 37th out of 92 oil, gas and mining companies) on indigenous rights and resource extraction in the Arctic. On April 7th 1999 BP announced that it would buy from Enron the 50 per cent stake it did not already own in the solar electric company Solarex, the company would be called BP Solarex [43]. "[300] Some in the media commended BP for some of its social media efforts, such as the use of Twitter and Facebook as well as a section of the company's website where it communicated its efforts to clean up the spill. ICC promotes free trade and the market economy with the conviction that trade is a powerful force for peace and prosperity [127]. [51][52] British Petroleum was a founding member of this company with 40% stake. Deputy Chairman of the Board. It was erstwhile known as British Petroleum. [28] In 1915, APOC established its shipping subsidiary the British Tanker Company and in 1916, it acquired the British Petroleum Company which was a marketing arm of the German Europische Petroleum Union in Britain. But as the world demands more energy it also demands that it be produced and delivered in new ways, with feweremissions and at bp we embrace that challenge. Evidence for the accusations comes from a report ordered by Colombias President Samper and compiled by a commission including the Presidents human rights adviser, Attorney-General and Ombudsman. [97] On the US West Coast, in the states of California, Oregon, Washington, Nevada, Idaho, Arizona, and Utah, BP primarily operates service stations under the ARCO brand. Kosmos Energy was also implicated. Bryan Sanderson, was appointed an executive director of BP in 1992. [418] In 2013, it was reported that dolphins and other marine life continued to die in record numbers with infant dolphins dying at six times the normal rate,[422] and half the dolphins examined in a December 2013 study were seriously ill or dying. biograph&rn=A1D5C#Offr_153959, [95] http://yahoo.marketguide.com/mgi/biograph.asp?nss=yahoo&rt= LTD. Find company research, competitor information, contact details & financial data for British Petroleum of Los Angeles, CA. [72] http://yahoo.marketguide.com/mgi/biograph.asp?nss=yahoo&rt= [129], In February 2011, BP formed a partnership with Reliance Industries, taking a 30% stake in a new Indian joint-venture for an initial payment of $7.2billion. British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. Get in touch! [289] The buyback was also seen as a way to invest excess cash from the TNK-BP deal. Innumerable people have already been killed and tens of thousands have fled or are fleeing because of the burnt-earth politics practiced by the government [162]. [136] In 2012, BP shut down the BP Biofuels Highlands project which was developed since 2008 to make cellulosic ethanol from emerging energy crops like switchgrass and from biomass. The anti-Mossadeq plan was orchestrated under the code-name 'Operation Ajax' by CIA, and 'Operation Boot' by SIS (MI6). [26] www.bp.com/about_bp/profile/serv_cust.asp Chief Executive, Chemicals. BP also supplies petrol and diesel to Safeway supermarkets in the UK [47]. We will write a custom Report on British Petroleum Company's Corporate Governance Failure specifically for you. [172] In November 2022, the company announced a large increase in profit for the period from July to September due to the high fuel prices caused by the Russian invasion of Ukraine. [296], BP attained a negative public image from the series of industrial accidents that occurred through the 2000s, and its public image was severely damaged after the Deepwater Horizon explosion and Gulf Oil spill. It was alleged that in some cases the violations were due to negligence, while in others the violations were knowingly and willfully committed by refinery officials. BPs chief executive officer (CEO) is entitled to sit at the Business Roundtable [120], an association who examine public issues that affect the economy [121]. [84] In 2003, BP invested $8 billion into a joint venture with Russian oligarch Mikhail Fridman's TNK. biograph&rn=A1D5C#Offr_153959, [76] http://yahoo.marketguide.com/mgi/biograph.asp?nss=yahoo&rt= [340] In 2005, a settlement was reached under which BP agreed to pay $25 million in cash penalties and $6 million in past emissions fees, while spending $20 million on environmental improvements at the refinery and $30 million on community programs focused on asthma diagnosis and treatment. Before January 1999 the company was registered as the British Petroleum Company PLC. To save money, major upgrades to the 1934 refinery had been postponed. [1] The company has around 18,700service stations worldwide,[1] which it operates under the BP brand (worldwide) and under the Amoco brand (in the United States) and the Aral brand (in Germany). He is a non-executive director of PPG Industries [64] which provides materials for manufacturing, construction, automotive industry and chemical processing [65]. A 4th option exists via Iran, the American government has been staunchly opposed to dealing with Iran but the companies involved have been more open-minded. Under the settlement, BP agreed to plead guilty to 11felony counts of manslaughter, two misdemeanors, and a felony count of lying to Congress and agreed to four years of government monitoring of its safety practices and ethics. "[450][451], In June 2010, after a meeting in the White House between President Barack Obama and BP executives, the president announced that BP would pay $20 billion into a trust fund that will be used to compensate victims of the oil spill. The company currently operates in 72 countries worldwide and has an employee count of around 74,500 as per 2016 records. [160] http://csf.colorado.edu/mail/elan/96/oct96/0059.html [115] It sold its stake in the Petroperij and Boquern fields in Venezuela and in the Lan Tay and Lan Do fields, the Nam Con Son pipeline and terminal, and the Phu My 3 power plant in Vietnam to TNK-BP,[116][117] forecourts and supply businesses in Namibia, Botswana, Zambia, Tanzania and Malawi to Puma Energy,[118] the Wytch Farm onshore oilfield in Dorset and a package of North Sea gas assets to Perenco,[119] natural-gas liquids business in Canada to Plains All American Pipeline LP,[120] natural gas assets in Kansas to Linn Energy,[121] Carson Refinery in Southern California and its ARCO retail network to Tesoro, Sunray and Hemphill gas processing plants in Texas, together with their associated gas gathering system, to Eagle Rock Energy Partners,[122][123][124] the Texas City Refinery and associated assets to Marathon Petroleum,[125][126] the Gulf of Mexico located Marlin, Dorado, King, Horn Mountain, and Holstein fields as also its stake in non-operated Diana Hoover and Ram Powell fields to Plains Exploration & Production,[113] non-operating stake in the Draugen oil field to Norske Shell,[127] and the UK's liquefied petroleum gas distribution business to DCC. [142] Reuters: www.forbes.com/newswire/2001/05/11/rtr259540.html John Browne, Chairman of BP, announced in a speech at Stanford University on May 19, 1997, that: The time to consider the policy dimensions of climate change is not when the link between greenhouse gases and climate change is conclusively proven, but when the possibility cannot be discounted and is taken seriously by the society of which we are part. [433] Another peer-reviewed study, released in March 2014 and conducted by 17 scientists from the United States and Australia and published in Proceedings of the National Academy of Sciences, found that tuna and amberjack that were exposed to oil from the spill developed deformities of the heart and other organs. In 2003, California's South Coast Air Quality Management District (AQMD) filed a complaint against BP/ARCO, seeking $319 million in penalties for thousands of air pollution violations over an 8-year period. WEEK, US EDITION, 17/04/2000, P23 [154], In 2018, BP acquired Chargemaster, which operated the UK's largest electric vehicle charging network. British Petroleum (BP) is a major player in the energy industry. [136][296] According to Juhasz, "four percenthardly qualifies the company to be Beyond Petroleum", citing BP's "aggressive modes of production, whether it's the tar sands [or] offshore". pdf / BP has been involved in major environmental pollution and serious human rights violations. [47][48] The AIOC withdrew its management from Iran, and Britain organised an effective worldwide embargo of Iranian oil. The complaint alleged that BP failed to properly inspect and maintain underground tanks used to store gasoline for retail sale at approximately 780 gas stations in California over a period of ten years and violated other hazardous material and hazardous waste laws. BP Shipping's chartering teams based in London, Singapore, and Chicago also charter third party vessels on both time charter and voyage charter basis. bp at a glance We are an integrated energy business with operations in Europe, North and South America, Australasia, Asia and Africa Our business model Delivering energy solutions to customers around the world More about our business model Our new structure - select a business group Our people [342][343][344][345], In 2006, a group of Colombian farmers reached a multimillion-dollar out-of-court settlement with BP for alleged environmental damage caused by the Ocensa pipeline. [30] www.bp.com/about_bp/history/bp/a_new_co.asp In 2012, a Frank Timi company, Petro-Tim, though previously unknown to the oil industry, was awarded a license to explore the blocks despite having no known record in the industry. BRITISH PETROLEUM BP in Qatar. [395], After the shutdown, BP pledged to replace 26 kilometres (16mi) of its Alaskan oil transit pipelines[396][397] and the company completed work on the 16 miles (26km) of new pipeline by the end of 2008. [84], In 1992, the company entered the Azerbaijani market. Perhaps ironically considering BPs role in climate change, BP employees were involved in raising money for the Mozambique flood appeal [131]. BP is the largest retailer of gasoline in the US. [153] In December 2018, BP sold its wind assets in Texas. [75] In 1982, the downstream assets of BP Canada were sold to Petro Canada. The lawsuit further claims Galveston county has the worst air quality in the United States due to BP's violations of air pollution laws. BP was further fined for neglecting to develop shutdown procedures and designate responsibilities and to establish a system to promptly address and resolve recommendations made after an incident when a large feed pump failed three years prior to 2006. This is the first volume of a comprehensive history of British Petroleum, which covers the history of the company from its origin up to 1975. When not at the helm of BP, he is a non-executive director of Diageo (Food and drink corporation) and the BOC Group [104] (chemicals). biograph&rn=A1D5C#Offr_153959, [109] http://yahoo.marketguide.com/mgi/biograph.asp?nss=yahoo&rt= He is a non-executive director of Rolls-Royce [94] the UK based automobile, aerospace and arms company, and a member of the UK Governments Council for Science and Technology [95]. "[438][439] Oil clean up workers reported that they were not allowed to use respirators, and that their jobs were threatened if they did. In 1967, the giant oil tanker Torrey Canyon foundered off the English coast. [364], In December 1965, Britain's first oil rig, Sea Gem, capsized when two of the legs collapsed during an operation to move it to a new location. [245][246] The activities in this area of operations take place in 25countries worldwide. Chief Executive, Refining and Marketing. The compact was first mooted by UN Secretary-General Kofi Annan in a speech to the Davos World Economic Forum in January 1999. [196] It has shale positions in the Woodford, Oklahoma, Haynesville, Texas, and Eagle Ford, Texas shales. It had interests in 14plants in Asia, Europe and the U.S., and achieved production of 9.7 million metric tons in 2019. [ www.globalchange.org/gccd/gcc-digest/1997/d97sep17.htm]. [187] In 2018, BP's total production in the United States included 385,000 barrels per day (61,200m3/d) of oil and 1.9billion cubic feet per day (54million cubic metres per day) of natural gas,[188] and its refinery throughput was 703,000 barrels per day (111,800m3/d). [320][321] BP was distinguished as the first multinational outside of the reinsurance industry to publicly support the scientific consensus on climate change, which Pew Center on Global Climate Change president Eileen Claussen then described as a transformative moment on the issue. In 1951 Iran nationalised the companys assets, at that time the UKs largest investment overseas. In addition, he is on the advisory board of the US Council on Foreign Relations [51] who at July 9th, 2001 bear the headline The Collapse of the Kyoto Protocol and the Struggle to Slow Global Warming on the front page of their website [52]. Pilkington is the leading UK supplier of Electro-optic equipment [93]. [410], The Deepwater Horizon oil spill was a major industrial accident on the Gulf of Mexico, which killed 11people and injured 16others, leaked about 4.9 million barrels (210million USgal; 780,000m3) of oil with plus or minus 10% uncertainty,[15] which makes it the largest accidental marine oil spill in the history of the petroleum industry,[16][412] and cost to the company more than $65billion of cleanup costs, charges and penalties. [180], There are 1,200 BP service stations in the UK. [479], British multinational oil and gas company, This article is about the energy company. (see Corporate Watchs flyer: Supermarkets Destroying Small Farms), For a full list of the countries where BP operates see: www.bp.com/in_your_area/a-z_directory.asp, References [86], Under John Browne, British Petroleum acquired other oil companies, transforming BP into the third largest oil company in the world. The oil lobby are pushing hard in Washington to overturn the existing 20 year moratorium on drilling in the area and with president George W. Bush himself a former oil man (Bush Exploration/Arbusto was sold to spectrum 7 and later acquired by Harken energy) and Alaskas republican senator Frank Murkowski supporting any attempt to open the ANWR to exploration, it looks likely that BP will soon be drilling in the area, despite the fact that the US geological survey estimates that total reserves within ANWR are unlikely to exceed six months worth of oil for the US at current consumption rates [149]. [282], Following the United States Federal Trade Commission's approval of the BP-Amoco merger in 1998, Amoco's stock was removed from Standard & Poor's 500 and was merged with BP shares on the London Stock Exchange. (formerly The British Petroleum Company plc and BP Amoco plc) is a British multinational oil and gas company headquartered in London, England. 2:10-cv-04536, Deepwater Horizon Oil Spill Litigation Database, "U.S. District Court Eastern District of Louisiana", "BP May Be Fined Up to $18 Billion for Spill in Gulf", "White House: BP Will Pay $20B into Gulf Spill Fund", "BP appeal to stop 'fictitious' U.S. oil spill claims fails", "BP begins to put spill behind it with settlement", "BP refinery fire in Ohio kills 2 workers", "BP admits 'lobbying UK over Libya prisoner transfer scheme but not Lockerbie bomber', "BP's admits role in Lockerbie bomber's release", "Despite BP corporate code, firm has made political contributions", "Obama was top recipient of BP-related dollars in 2008", "Exxon, Chevron, BP Greased Obama's Campaign", "BP spends millions lobbying as it drills ever deeper and the environment pays", "Complaint for Injunctive and Other Equitable Relief and Civil Monetary Penalties Under the Commodities Exchange Act", "Appeals court sides with BP propane traders", "Oil price manipulation seldom prosecuted under Obama", "BP Agrees to Pay a Total of $303 Million in Sanctions to Settle Charges of Manipulation and Attempted Manipulation in the Propane Market, Oct. 25, 2007", "BP faces investigation for allegedly manipulating gas market", "U.S. probes BP for gas market manipulation", "FERC: BP Gamed Market at Houston Ship Channel", "Oil pricing probe widens, Britain pledges tough action", "Antitrust: Commission confirms unannounced inspections in oil and biofuels sectors", "Big Oil Let Off Hook Days After EU Drops Wall Street Probe", "Learning to Coordinate: A Study in Retail Gasoline", "Massive Oil Spill 'Welcome Boost' To Economy, Says BP", "Behind the pricing: Internal email lifts veil on BP's petrol prices", "Petrol prices: Motorists pay too much at pump says Commerce Commission", The Prize: The Epic Quest for Oil, Money, and Power, The Quest: Energy, Security, and the Remaking of the Modern World, Timeline of the electricity supply industry, Department for Business, Energy and Industrial Strategy, Minister of State for Business, Energy and Clean Growth, Department for Environment, Food and Rural Affairs, Climate Change and Sustainable Energy Act 2006, Centre for Renewable Energy Systems Technology, Hadley Centre for Climate Prediction and Research, Association for the Conservation of Energy, Double Glazing & Conservatory Ombudsman Scheme, International Association of Oil & Gas Producers, Hornbeck Offshore Services LLC v. Salazar, https://en.wikipedia.org/w/index.php?title=BP&oldid=1120803940, Oil and gas companies of the United Kingdom, Non-renewable resource companies established in 1909, Companies listed on the Frankfurt Stock Exchange, Companies listed on the London Stock Exchange, Companies listed on the New York Stock Exchange, Companies formerly listed on the Tokyo Stock Exchange, Multinational companies headquartered in England, Former nationalised industries of the United Kingdom, Pages containing links to subscription-only content, Articles with dead external links from May 2018, Wikipedia indefinitely move-protected pages, Articles containing potentially dated statements from December 2018, All articles containing potentially dated statements, Articles containing potentially dated statements from 2019, Articles containing potentially dated statements from 2017, Articles containing potentially dated statements from May 2018, Creative Commons Attribution-ShareAlike License 3.0, This article is part of a series about the, Nils Andersen (independent non-executive director), Pamela Daley (independent non-executive director), Melody Meyer (independent non-executive director), Brendan Nelson (independent non-executive director), Paula Rosput Reynolds (independent non-executive director), This page was last edited on 8 November 2022, at 22:24. 3,950Km in central Oman and contains the largest contributor to the campaign opposing carbon fee 1631. 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