| Revision as of 04:44, 3 April 2013 editBeagel (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers90,411 edits →Public relations: after edits by Jytdog this particular concern is resolved. There may be overlapping with some other sections but the tag is removed for now← Previous edit | Latest revision as of 09:08, 17 December 2024 edit undoDormskirk (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers409,918 edits reverted some POV material per talk pageTag: Undo | ||
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| {{short description|British multinational oil and gas company}} | |||
| {{About|the energy company|other uses}} | |||
| {{About|the energy company}} | |||
| {{pp-semi|small=yes}} | |||
| {{pp-move}} | |||
| {{Use dmy dates|date=October 2023}} | |||
| {{Use British English|date=April 2013}} | |||
| {{Infobox company | {{Infobox company | ||
| | name |
| name = BP p.l.c. | ||
| | logo |
| logo = BP Helios logo.svg | ||
| | logo_size = 125 | |||
| | type = ] | |||
| | image = BPheadoffice.JPG | |||
| | traded_as = {{lse|BP}}, {{nyse|BP}} | |||
| | image_size = 250 | |||
| | company_slogan = Beyond petroleum | |||
| | image_caption = Headquarters at 1 ] in ], London | |||
| | foundation = 1909 <small>(as ])</small><br>1935 <small>(as Anglo-Iranian Oil Company)</small><br>1954 <small>(as British Petroleum)</small><br>1998 <small>(as BP Amoco plc)</small><br>2001 <small>(as BP plc)</small> | |||
| | former_name = {{Plainlist| | |||
| | location = ], United Kingdom | |||
| * ] (1909–1935) | |||
| | area_served = Worldwide | |||
| * Anglo-Iranian Oil Company (1935–1954) | |||
| | key_people = ] <small>(Chairman)</small><br>]<small> (CEO)</small><br>Brian Gilvary <small>(CFO)<ref>{{cite web| url=http://www.neumann-compensation.com/managers/company/bp-plc/ | title=Executive Compensation at BP | accessdate=12 July 2010}}{{Dead link|date=July 2012}}</ref></small> | |||
| * The British Petroleum Company Limited (1954–1981) | |||
| * The British Petroleum Company p.l.c. (1981–1998) | |||
| | products = ]<br />]<br />]<br />] | |||
| * BP Amoco p.l.c. (1998–2001) | |||
| | services = Service stations | |||
| | revenue = ] 388.285 billion (2012)<ref name=AR12>{{cite news |title=Annual Report 2012 |author=BP|url=http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/bpin2012/downloads/BP_Annual_Report_and_Form_20F_Financial_Statements.pdf |work= |date= |accessdate=16 March 2013}}</ref> | |||
| | operating_income = US$ 19.733 billion (2012)<ref name=AR12/> | |||
| | net_income = US$ 11.816 billion (2012)<ref name=AR12/> | |||
| | assets = | |||
| | equity = | |||
| | num_employees = 79,700 (2011) | |||
| | homepage = {{URL|www.bp.com}} | |||
| }} | }} | ||
| | type = ] | |||
| '''BP p.l.c.'''<ref></ref><ref>{{Cite press release |title=BP plc 2009 Securities and Exchange Commission Form 20-F |publisher=BP |year=2010 |url=http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/I/BP_20-F_2009.pdf |format=PDF |accessdate=11 June 2010| archiveurl= http://web.archive.org/web/20100704100147/http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/I/BP_20-F_2009.pdf| archivedate= 4 July 2010 <!--DASHBot-->| deadurl= no}}</ref><ref>{{Cite news|url=http://www.nytimes.com/2010/06/13/us/politics/13bp.html |title=Across Atlantic, Much Ado About Oil Company’s Name |work=The New York Times |date=12 June 2010 |accessdate=17 June 2010| archiveurl= http://web.archive.org/web/20100617044821/http://www.nytimes.com/2010/06/13/us/politics/13bp.html| archivedate= 17 June 2010 <!--DASHBot-->| deadurl= no}}</ref> ({{lse|BP}}, {{nyse|BP}}) is a British ] ] and ] company headquartered in London, United Kingdom. It is the third-largest energy company and ] measured by 2011 revenues and is one of the six oil and gas "]s".<ref>{{Cite news|url=http://money.cnn.com/magazines/fortune/global500/2011/full_list/index.html|title=Global 500 – 1–100|accessdate=15 March 2012|work=Fortune|date=25 July 2011}}</ref><ref name=reut1808>{{cite news|url=http://www.reuters.com/article/2008/08/01/us-oilmajors-production-idUSL169721220080801|title=Oil majors' output growth hinges on strategy shift|accessdate=15 March 2012|agency=Reuters|date=1 August 2008}}</ref> It is ] and operates in all areas of the oil and gas industry, including ] and ], ], ], ]s, ] and ]. It also has ] activities in ]s and ]. | |||
| | traded_as = {{Unbulleted list|class=nowrap|{{LSE|BP.}}|] component}} | |||
| | ISIN = {{ISIN|GB0007980591|sl=n}} | |||
| | industry = ] | |||
| | predecessors = {{Unbulleted list|class=nowrap|Anglo-Persian Oil Company|]|]|]|]|]|]}} | |||
| | foundation = {{Start date and age|df=yes|1909|04|14}} (as the ]) | |||
| | founders = {{unbulleted list|]|]}} | |||
| | location = ], England, UK | |||
| | area_served = Worldwide | |||
| | key_people = {{Unbulleted list|df=yes|class=nowrap | |||
| | ] (]) | |||
| | ] (]) }} | |||
| | products = {{hlist|]|]|]s|]s}} | |||
| | production = {{steady}} {{convert|2.3|Moilbbl/d|abbr=on}} of ] (2023)<ref name="AR23-glance"/> | |||
| | services = Service stations | |||
| | revenue = {{nowrap|{{increase}} ]210.13 billion (2023)}}<ref name="AR23-finances" /> | |||
| | operating_income = {{nowrap|{{increase}} US$27.35 billion (2023)}}<ref name="AR23-finances" /> | |||
| | net_income = {{nowrap|{{increase}} US$15.88 billion (2023)}}<ref name="AR23-finances" /> | |||
| | assets = {{nowrap|{{decrease}} US$280.29 billion (2023)}}<ref name="AR23-finances" /> | |||
| | equity = {{nowrap|{{increase}} US$85.49 billion (2023)}}<ref name="AR23-finances" /> | |||
| | num_employees = {{nowrap|87,800 (2023)}}<ref name="AR23-glance"/> | |||
| | brands = {{hlist|]|]|]|BP|BP Connect|]|]|}} | |||
| | divisions = | |||
| | subsid = | |||
| | homepage = {{official URL}} | |||
| }} | |||
| '''BP p.l.c.''' (formerly '''The British Petroleum Company p.l.c.''' and '''BP Amoco p.l.c.'''; stylised in all lowercase) is a British ] ] and ] company headquartered in ], England. It is one of the oil and gas "]" and one of the ] measured by revenues and profits.<ref name="reut1808" /> It is a ] company operating in all areas of the oil and gas industry, including ] and ], ], ], ], and ]. | |||
| BP's origins date back to the founding of the ] in 1909, established as a subsidiary of ] to exploit oil discoveries in ]. In 1935, it became the ] and in 1954, adopted the name '''British Petroleum'''.<ref name="BPhistory-postwar" /><ref name="time020610" /> BP acquired majority control of ] in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. BP merged with ] in 1998, becoming '''BP Amoco p.l.c.''', and acquired ], ] and ] shortly thereafter. The company's name was shortened to '''BP p.l.c.''' in 2001. | |||
| BP has operations in over 80 countries, produces around 3.4 million ] per day and has around 21,800 service stations worldwide.<ref name="FOI2011">{{Cite report |year=2011 |title= Financial and Operating Information 2007–2011 |url=http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/F/FOI_2007_2011_full_book.pdf |publisher=BP |page=63}}</ref><ref name="Annual Report2011">{{Cite report |year=2011 |title=Annual Report and Form 20-F 2011 |url=http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/bpin2011/downloads/BP_Annual_Report_and_Form_20F_2011.pdf |publisher=BP |page=98 |accessdate=19 May 2012 }}</ref> Its largest division is BP America, which is the second-largest producer of oil and gas in the United States.<ref name="UPI2012">{{cite news |title=BP enters shale oil quest in Ohio |url=http://www.upi.com/Business_News/Energy-Resources/2012/03/27/BP-enters-shale-oil-quest-in-Ohio/UPI-94691332873030/ |agency=United Press International |date=27 March 2012 |accessdate=19 May 2012}}</ref> BP owns a 19.75% stake in the Russian oil major ], the world's largest publicly traded oil and gas company by hydrocarbon reserves and production. {{As of|2011|12}}, BP had total proven commercial reserves of 17.75 billion barrels of oil equivalent.<ref name="BPAtAGlance">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=3&contentId=2006926 |title=BP at a glance |publisher=BP |accessdate=19 May 2012}}</ref> BP has a primary listing on the ] and is a constituent of the ]. It had a ] of £81.4 billion as of 6 July 2012, the fourth-largest of any company listed on the London Stock Exchange.<ref>{{cite web| url=http://www.stockchallenge.co.uk/ftse.php |title=FTSE All-Share Index Ranking| publisher=stockchallenge.co.uk| accessdate=26 December 2011}}</ref> It has a secondary listing on the ]. | |||
| {{as of|2018}}, BP had operations in nearly 80 countries, produced around {{convert|3.7|e6oilbbl/d}} of ], and had total proven reserves of {{convert|19.945|e9oilbbl}} of oil equivalent.<ref name="AR18-glance" /> The company has around 18,700 ] worldwide,<ref name="AR18-glance" /> which it operates under the BP brand (worldwide) and under the Amoco brand (in the U.S.) and the Aral brand (in Germany).<ref name="ourbrands">{{cite web|url=https://www.bp.com/en/global/corporate/who-we-are/our-brands.html|title=Our brands|publisher=BP|access-date=10 October 2022}}</ref> Its largest division is BP America in the United States. BP is the fourth-largest investor-owned oil company in the world by 2021 revenues (after ], ], and ]).<ref>{{Cite web |title=Global 500 |url=https://fortune.com/global500/2022/ |access-date=15 September 2022 |website=]|language=en}}</ref> BP had a market capitalisation of US$98.36 billion as of 2022, placing it 122nd in the world,<ref>{{Cite web |title=Companies ranked by Market Cap – page 2 |url=https://companiesmarketcap.com/page/2/ |access-date=15 September 2022 |website=companiesmarketcap.com |language=en-us}}</ref><ref>{{Cite web |title=BP Market Cap |url=https://ycharts.com/companies/BP/market_cap |access-date=15 September 2022 |website=ycharts.com}}</ref> and its Fortune Global 500 rank was 35th in 2022 with revenues of US$164.2 billion.<ref>{{Cite web |title=BP {{!}} 2022 Global 500 |url=https://fortune.com/company/bp/global500/ |access-date=15 September 2022 |website=]|language=en}}</ref> The company's primary stock listing in on the ], where it is a member of the ]. | |||
| BP's origins date back to the founding of the ] in 1909, established as a subsidiary of ] to exploit oil discoveries in Iran. In 1935, it became the ] and in 1954 '''British Petroleum'''.<ref>{{cite web| url=http://www.bp.com/sectiongenericarticle.do?categoryId=9014443&contentId=7027523 | title=BP.com: History of BP – Post war | quote= In 1954, the board changed the company’s name to The British Petroleum Company | accessdate=3 July 2010| archiveurl= http://web.archive.org/web/20100703180304/http://www.bp.com/sectiongenericarticle.do?categoryId=9014443&contentId=7027523| archivedate= 3 July 2010 <!--DASHBot-->| deadurl= no}}</ref><ref>{{Cite news| url=http://www.time.com/time/business/article/0,8599,1993361,00.html | title=A Brief History of BP |work=Time | quote= In 1954, in an attempt perhaps to move beyond its image as a quasi-colonial enterprise, the company rebranded itself the British Petroleum Company | date=2 June 2010 | accessdate=3 July 2010 | first=Ishaan | last=Tharoor| archiveurl= http://web.archive.org/web/20100710075234/http://www.time.com/time/business/article/0,8599,1993361,00.html| archivedate= 10 July 2010 <!--DASHBot-->| deadurl= no}}</ref> In 1959, the company expanded beyond the Middle East to Alaska and in 1965 it was the first company to strike oil in the ]. British Petroleum acquired majority control of ] in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. British Petroleum merged with ] in 1998 and acquired ] and ] in 2000. From 2003 to 2013 BP was a partner in the ] joint venture in Russia. | |||
| BP has been involved in several major environmental and safety incidents |
From 1988 to 2015, BP was responsible for 1.53% of global industrial ]<ref name="guardian100717" /> and has been directly involved in several major environmental and safety incidents. Among them were the 2005 ], which caused the death of 15 workers and which resulted in a record-setting ] fine; Britain's largest oil spill, the wreck of ] in 1967; and the 2006 ], the largest oil spill on ], which resulted in a US$25 million civil penalty, the largest per-barrel penalty at that time for an oil spill.<ref name="Roach2006"/> BP's worst environmental catastrophe was the 2010 ], the largest accidental release of oil into marine waters in history, which leaked about {{convert|4.9|Moilbbl|MUSgal m3}} of oil,<ref name="report2011" /> causing severe environmental, human health, and economic consequences<ref name="AccidentalRelease" /> and serious legal and public relations repercussions for BP, costing more than $4.5 billion in fines and penalties, and an additional $18.7 billion in Clean Water Act-related penalties and other claims, the largest criminal resolution in US history.<ref name="guardian151112" /><ref name="NYTimes2012-11" /><ref name="BP fined, profit over prudence" /><ref name="abc020715">{{cite news|url= https://www.washingtontimes.com/news/2015/jul/2/gulf-states-reach-187b-settlement-with-bp-over-oil/ |title=Gulf States Reach $18.7B Settlement With BP Over Oil Spill|last=McGill|first=Kevin|agency=Associated Press| newspaper =]|date=2 July 2015|access-date=2 July 2015}}</ref> Altogether, the oil spill cost the company more than $65 billion.<ref name="reuters160118" /><ref name="ft010518" /> | ||
| {{TOC_limit|4}} | |||
| ==History== | |||
| == |
== History == | ||
| === 1909 to 1954 === | |||
| {{Further|Anglo-Iranian Oil Company|Iraq Petroleum Company}} | {{Further|Anglo-Iranian Oil Company|Iraq Petroleum Company}} | ||
| ]]] | ]]] | ||
| ] | ] | ||
| In May |
In May 1908, a group of British ]s discovered a large amount of oil at ] located in the ] in the southwest of Persia (]). It was the first commercially significant find of oil in the ]. ], by contract with ], obtained permission to explore for oil for the first time in the Middle East,<ref name=":0">{{Cite book|title=Historical Dictionary of the Petroleum Industry|last=Vassiliou|first=M. S|publisher=Lanham, MD: Scarecrow|year=2009}}</ref> an event which changed the history of the entire region. The oil discovery led to ] development and also the establishment of industries that strongly depended on oil. On 14 April 1909, the ] (APOC) was incorporated as a ] of ]. Some of the shares were sold to the public.<ref name=Gasson/> The first chairman and minority shareholder of the company became ].<ref name=masjid/> | ||
| Immediately after establishing the company, the ] asked ], British resident to ], to negotiate an agreement with ] of ] for APOC to obtain a site on ] Island for a ], depot, ]s, and other operations. The refinery was built and began operating in 1912.<ref name=":0" /> In 1914, the British government acquired a controlling interest (50.0025%) in the company, at the urging of ], the then ], and the British navy quickly switched from coal to oil for the majority of their war ships.<ref name=masjid/><ref name=bbc110898/><ref name=beale/> APOC also signed a 30-year contract with the ] for supplying oil for the ] at the fixed price.<ref name="Atabaki"/> In 1915, APOC established its shipping subsidiary the ] and in 1916, it acquired the British Petroleum Company which was a marketing arm of the German ''Europäische Petroleum Union'' in Britain.<ref name=masjid/> In 1919, the company became a ] producer by establishing a subsidiary named Scottish Oils which merged remaining Scottish ].<ref name="ferrier-shale"/><ref name=marwick/><ref name=uphall/><ref name=museum/> | |||
| In 1923, Burmah employed future Prime Minister ] as a paid consultant to lobby the British government to allow APOC have exclusive rights to ] oil resources, which were subsequently granted.<ref>{{cite news| url=http://www.independent.ie/opinion/columnists/kevin-myers/the-greatest-20th-century-beneficiary-of-popular-mythology-has-been-the-cad-churchill-1876680.html | newspaper = ] | first=Kevin | last=Myers | title=The greatest 20th century beneficiary of popular mythology has been the cad Churchill | date=3 September 2009| accessdate = 9 September 2012}}</ref> In 1925, TPC received concession in the ] from the ] under British mandate. TPC finally struck oil in Iraq on 14 October 1927. In 1928, the APOC's shareholding in TPC, which by now named ] (IPC), would be reduced to 23.75%; as the result of the changing geopolitics post Ottoman empire break-up, and the ].<ref name=GT-DEX-1920-78/> | |||
| After ], APOC started marketing its products in ] and acquired stakes in the local ] companies in several European countries. Refineries were built in ] in Wales (the first refinery in the United Kingdom) and ] in Scotland. It also acquired the controlling stake in the ] refinery in France and formed, in conjunction with the ], a partnership named ], which built the Australian's first refinery in ].<ref name=masjid/> In 1923, Burmah employed ] as a paid consultant to ] the British government to allow APOC have exclusive rights to ] oil resources, which were subsequently granted by the Iranian monarchy.<ref name=independent030909/> | |||
| In 1935, ] requested the international community to refer Persia as 'Iran', which reflected in the name change of APOC to the ] (AIOC).<ref name="bio"/> The pro-west ] in Iraq and IPC relations were generally cordial, in spite of disputes centred around more Iraqi involvement and getting more royalties. During the 1928-68 time period, IPC monopolised oil exploration inside the ]<!--This for the area inside the red line carved out of the Ottoman Empire. As there is no separate page for the area, it is directed to Red Line agreement--->; excluding Saudi Arabia and Bahrain.{{citation needed|date=September 2012}} | |||
| APOC and the Armenian businessman ] were the driving forces behind the creation of ] (TPC) in 1912, to explore oil in ] (now Iraq); and by 1914, APOC held 50% of TPC shares.<ref name=MetzTPC/> In 1925, TPC received concession in the ] from the ] under British mandate. TPC finally struck oil in Iraq on 14 October 1927. By 1928, the APOC's shareholding in TPC, which by now was named ] (IPC), was reduced to 23.75%; as the result of the changing geopolitics post ] break-up, and the ].<ref name="GT-DEX-1920-78"/> Relations were generally cordial between the pro-west ] in Iraq and IPC, in spite of disputes centred on Iraq's wish for greater involvement and more royalties. During the 1928–68 time period, IPC monopolised oil exploration inside the ]; excluding Saudi Arabia and Bahrain.<ref name=SH/><ref name=yergin/> | |||
| Following World War II, nationalistic sentiments were on the rise in the Middle East; most notable being ], and ]. In Iran, AIOC and the pro western Iranian government led by Prime Minister ], initially resisted nationalist pressure to revise AIOC's concession terms still further in ]'s favour. In March 1951, Ali Razmara was assassinated; and ], a nationalist, was elected as the new prime minister by the ] (parliament).<ref name=Ref-B-William1991/><ref>Yousof Mazandi, United Press, and Edwin Muller, Government by Assassination (Reader's Digest September 1951).</ref> In April 1951, the Majlis ] the Iranian oil industry by unanimous vote, and the ] (NIOC) was formed, displacing the AIOC.<ref name="NYTRoots">{{Cite news|url=http://www.nytimes.com/library/world/mideast/041600iran-cia-chapter1.html |title= The C.I.A. in Iran: Britain Fights Oil Nationalism |newspaper = ] | first = James | last = Risen | date= 18 June 2000 |accessdate=5 June 2010}}</ref><ref name="BPHistory"/> The AIOC withdrew its management from Iran, and organised an effective worldwide embargo of Iranian oil. The British government, which owned the AIOC, contested the nationalisation at the ] at ], but its complaint was dismissed.<ref name="Sztucki"/> | |||
| In 1927, Burmah Oil and ] formed the joint marketing company ]. In 1928, APOC and Shell formed the Consolidated Petroleum Company for sale and marketing in Cyprus, South Africa and Ceylon, which in 1932 followed by a joint marketing company ] in the United Kingdom.<ref name=beale/><ref name=Ferrier1982a>], p. 463</ref> In 1937, AIOC and Shell formed the Shell/D'Arcy Exploration Partners partnership to explore for oil in ]. The partnership was equally owned but operated by Shell. It was later replaced by Shell-D'Arcy Petroleum Development Company and Shell-BP Petroleum Development Company (now ]).<ref name=James2000>], pp. 109–110</ref> | |||
| After the ].<ref name="NYTIntro"/> In August 1953, the coup brought pro-Western general ] as the new PM, along with the return of the Shah ] from his brief exile in Italy to Iran.<ref>{{Cite news|url=http://partners.nytimes.com/library/world/mideast/082053iran-army.html |title=New York Times article, 1953 |work=The New York Times |date=20 August 1953 |accessdate=5 June 2010}}</ref> The anti-Mossadeq plan was orchestrated under the code-name ']' by CIA, and 'Operation Boot' by ] (MI6).<ref name="NYTIntro">{{Cite news|url=http://www.nytimes.com/library/world/mideast/041600iran-cia-intro.html |title=How a Plot Convulsed Iran in '53 (and in '79) |work=The New York Times |accessdate=5 June 2010}}</ref><ref name=CN-IC-01/><ref></ref> | |||
| In 1934, APOC and ] founded the ] as an equally owned partnership. The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936.<ref name=brune/><ref name=alsharhan/> In 1935, ] requested the international community to refer to Persia as ']', which was reflected in the name change of APOC to the ] (AIOC).<ref name="bio"/> | |||
| In 1954, the AIOC became the British Petroleum Company. After the ], a ] ']' (IOP) was founded in October 1954 in London to bring back Iranian oil to the international market.<ref name=Ref-B-Vassiliou2009/><ref name=Ref-B-Lauterpacht1973/> British Petroleum was a founding member of this company with 40% stake.<ref name=Ref-B-William1991/><ref name=Ref-B-Vassiliou2009/> IOP operated and managed oil facilities in Iran on behalf of NIOC.<ref name=Ref-B-Vassiliou2009/><ref name=Ref-B-Lauterpacht1973/> Similar to the ],<ref name=Ref-B-Christine2008/> the consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors."<ref name=Stephen2003/><ref>{{cite web|last=Everest |first=Larry |url=http://revcom.us/a/090/iran-pt2-en.html |title=Background to Confrontation |newspaper = ] |date = 27 May 2007 |accessdate=5 June 2010}}</ref> The negotiations leading to the creation of the consortium, during 1954-55, was considered as a feat of skilful diplomacy.<ref name=Ref-B-William1991/> | |||
| In 1937, ], 23.75% owned by BP,<ref name="RLA">{{Cite web|url=https://history.state.gov/milestones/1921-1936/red-line|title=Milestones: 1921–1936 – Office of the Historian|website=history.state.gov}}</ref> signed an oil concession agreement with the Sultan of Muscat that covers the entire region of the Sultanate, which was in fact limited to the coastal area of present-day Oman. After several years of failure to discover oil in the Sultanate's region, IPC presumed that oil was more likely to be found in the interior region of Oman, which was part of the Imamate of Oman. IPC offered financial support to raise an armed force that would assist the Sultanate in occupying the interior region of Oman. Later, in 1954, the Sultan of Muscat, backed by the British government and the financial aid he received from IPC, started occupying regions within the interior of Oman, which led to the outbreak of ] that lasted for more than 5 years.<ref name="OmansInsurgencies">{{cite book|url=https://books.google.com/books?id=wkUhBQAAQBAJ&pg=PT43|title=Oman's Insurgencies: The Sultanate's Struggle for Supremacy|first=J. E.|last=Peterson|date=2013|publisher=Saqi|isbn=978-0-86356-702-5|page=43}}</ref> | |||
| A couple of years earlier, in 1953, British Petroleum expanded beyond the Middle East; and entered the Canadian market through the purchase of a minority stake in Calgary-based Triad Oil Company, and expanded further to Alaska in 1959.<ref>{{cite web |url=http://www.investfairbanks.com/Projects/PDFs/Vol.1_The_Facts.pdf |title=Natural Gas and Alaska's Future: The Facts page 22 |format=PDF |archiveurl=http://web.archive.org/web-cdx/20120313160949/http://www.investfairbanks.com/Projects/PDFs/Vol.1_The_Facts.pdf |archivedate=13 March 2012 |accessdate=12 February 2013}}</ref> In 1965, it was the first company to strike oil in the ].<ref>{{cite web|url=http://www.sea-us.org.au/gulliver/bp.html |title=BP dossier |publisher=Sea-us.org.au |date=21 November 1999 |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100618100520/http://www.sea-us.org.au/gulliver/bp.html| archivedate= 18 June 2010 <!--DASHBot-->| deadurl= no}}</ref> The Canadian ] of British Petroleum was renamed ] in 1969; and in 1971, it acquired 97.8% stake of ]. Subsequently, Supertest was renamed to BP Canada Ltd, and other Canadian interests of British Petroleum were amalgamated to the new company.{{citation needed|date=September 2012}} | |||
| In 1947, British Petroleum Chemicals was incorporated as a joint venture of AIOC and ]. In 1956, the company was renamed British Hydrocarbon Chemicals.<ref name=James2000c>], pp. 350–352</ref> | |||
| In 1967, the giant oil tanker '']'' operated on behalf of British Petroleum, foundered off the English coast. Even though the ship was flying the well known flag of convenience, that of Liberia; the Prime Minister of that time, had the ship bombed by RAF jet bombers, in an effort to break the ship up and sink it. This caused the infamous ].{{citation needed|date=September 2012}} | |||
| Following World War II, nationalistic sentiments were on the rise in the Middle East; most notable being ], and ]. In Iran, the AIOC and the pro-western Iranian government led by Prime Minister ] resisted nationalist calls to revise AIOC's concession terms in Iran's favour. In March 1951, Razmara was assassinated and ], a nationalist, was elected as the new prime minister by the ] (parliament).<ref name="Ref-B-William1991"/> In April 1951, the Iranian government ] the Iranian oil industry by unanimous vote, and the ] (NIOC) was formed, displacing the AIOC.<ref name="NYTRoots"/><ref name="BPHistory"/> The AIOC withdrew its management from Iran, and Britain organised an effective worldwide embargo of Iranian oil. The British government, which owned the AIOC, contested the nationalisation at the ] at ], but its complaint was dismissed.<ref name="Sztucki"/> | |||
| The company's oil assets were nationalised in Libya in 1971, and Nigeria in 1979.<ref name="BPHistory"/><ref name=GT-DEX-21C-O-01/> In Iraq, IPC ceased its operations after it was nationalised by the Ba’athist Iraqi government in June 1972. But the company "Iraq Petroleum Company" still remains ] as a name on paper,<ref name=cc/> and one of its associated company—] (ADPC), formerly Petroleum Development (Trucial Coast) Ltd—also continues with the original shareholding intact.<ref name=GT-DEX-2012-100/><ref name=GT-DEX-2012-101/> | |||
| Prime Minister Churchill asked President Eisenhower for help in overthrowing Mossadeq. The anti-Mossadeq plan was orchestrated under the code-name ']' by CIA, and 'Operation Boot' by ] (MI6). The CIA and the British helped stage a coup in August 1953, the ], which established pro-Western general ] as the new PM, and greatly strengthened the political power of Shah ]. The AIOC was able to return to Iran.<ref>{{Cite journal|title=CIA Admits It Was Behind Iran's Coup |first=Malcolm|last=Bryne |date=18 August 2013|journal=Foreign Policy | url = https://foreignpolicy.com/2013/08/19/cia-admits-it-was-behind-irans-coup/}}</ref> | |||
| The intensified power struggle between oil companies and host governments in Middle East, along with the oil price shocks that followed the ]; meant British Petroleum lost most of its direct access to crude oil supplies produced in countries that belonged to the Organization of Petroleum Exporting Countries (]), and prompted it to diversify its operations beyond the heavily Middle East dependent oil production. In 1978 the company acquired a controlling interest in ] or Sohio, a breakaway entity from former ] following the ].<ref name="sohio">{{cite web | url=http://www.dantiques.com/sohio/timeline.htm |title=Sohio timeline |publisher=Dantiques.com |date=1 June 1913 |accessdate=5 June 2010}}{{verify credibility|date=September 2012}}</ref> In Iran, British Petroleum continued to operate until the ] in 1979. The new regime of ] confiscated all of the company's assets in Iran without compensation, bringing to an end its 70-year presence in Iran.{{citation needed|date=September 2012}} | |||
| === |
===1954 to 1979=== | ||
| ] | |||
| ] | |||
| In 1954, the AIOC became the British Petroleum Company. After the ], ] (IOP), a ], was founded in October 1954, in London to bring Iranian oil back to the international market.<ref name="Ref-B-Vassiliou2009"/><ref name="Ref-B-Lauterpacht1973"/> British Petroleum was a founding member of this company with 40% stake.<ref name="Ref-B-William1991"/><ref name="Ref-B-Vassiliou2009"/> IOP operated and managed oil facilities in Iran on behalf of NIOC.<ref name="Ref-B-Vassiliou2009"/><ref name="Ref-B-Lauterpacht1973"/> Similar to the ],<ref name="Ref-B-Christine2008"/> the consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors."<ref name=Stephen2003/> | |||
| In 1953, British Petroleum entered the Canadian market through the purchase of a minority stake in Calgary-based Triad Oil Company, and expanded further to Alaska in 1959, resulting discovery of oil at ] in 1969.<ref name=beale/><ref name=investfairbanks/> In 1956, its subsidiary D'Arcy Exploration Co. (Africa) Ltd. was granted four oil concessions in ].<ref name=wsj230256/> In 1962, Scottish Oils ceased ] operations.<ref name=museum/> In 1965, it was the first company to strike oil in the ].<ref name=gulliver/> In 1969, BP entered the United States by acquiring the East Coast refining and marketing assets of ].<ref name=James2000b>], p. 273</ref> The Canadian holding company of British Petroleum was renamed ] in 1969; and in 1971, it acquired 97.8% stake of ].<ref>{{cite web|url=http://members.tripod.com/williams_j/supertesthistory.html|title=Supertest History|access-date=13 September 2015}}</ref> | |||
| Sir Peter Walters was the company chairman from 1981 to 1990.<ref>{{Cite press release |url= http://www.prnewswire.co.uk/news-releases/tnk-international-appoints-sir-peter-walters-and-sir-william-purves-to-its-newly-created-advisory-board-155551905.html |title= TNK International appoints Sir Peter Walters and Sir William Purves to its newly-created Advisory Board| publisher= ] | date=13 June 2002 |accessdate= 5 June 2010}}</ref> This was the era of the ] strategy. The British government sold its entire holding in the company in several ] between 1979 and 1987.<ref>{{cite web|last=Poole |first=Robert W. |url=http://www.econlib.org/library/Enc/Privatization.html |title=Privatisation | publisher = Econlib.org |accessdate=5 June 2010}}</ref> The sale process was marked by an attempt by the ], the investment arm of the ] government, to acquire control of the company.<ref>{{Cite news |url=http://www.nytimes.com/1987/11/19/business/kuwait-has-10-of-bp-price-put-at-900-million.html?sec=&spon= |title=Kuwait Has 10% Of B.P.; Price Put At $900&Nbsp;Million |newspaper=The New York Times |first=Steve |last=Lohr |date=19 November 1987 |accessdate=11 June 2010}}</ref> This was ultimately blocked by the strong opposition of the British government. In 1987, British Petroleum negotiated the acquisition of ]<ref>{{Cite news | agency = Associated Press |url=http://query.nytimes.com/gst/fullpage.html?res=940DE7DF1F30F936A35751C0A96E948260 |title=Britain drops a barrier to BP bid |newspaper = The New York Times |date=5 February 1988 |accessdate=5 June 2010}}</ref> and the remaining publicly traded shares of ].<ref name="sohio"/> | |||
| By the 1960s, British Petroleum had developed a reputation for taking on the riskiest ventures. It earned the company massive profits; it also earned them the worst safety record in the industry. In 1967, the giant oil tanker '']'' foundered off the English coast. Over {{convert|32|MUSgal|oilbbl m3}} of crude oil was spilled into the Atlantic and onto the beaches of Cornwall and Brittany, causing ].<ref name="Legacy of the Torrey Canyon"/> The ship was owned by the ]-based Barracuda Tanker Corporation and was flying the flag of ], a well-known ], but was being chartered by British Petroleum.<ref name="Legacy of the Torrey Canyon"/> The ship was bombed by ] ]s in an effort to break up the ship and burn off the leaking oil, but this failed to destroy the oil slick.<ref name=bbc290367/> | |||
| Walters was replaced by ] in 1989. Horton carried out a major corporate down-sizing exercise removing various tiers of management at the Head Office.<ref>{{cite web |last=Roberts |first=John |month=February |year=2005 |url=http://www.gsb.stanford.edu/news/bmag/sbsm0502/feature_bp.shtml |title=Organizing for Performance: How BP Did It |work=Stanford Business |publisher=Gsb.stanford.edu |archiveurl=http://web.archive.org/web-cdx/20120312205421/http://www.gsb.stanford.edu/news/bmag/sbsm0502/feature_bp.shtml |archivedate=12 March 2012 |accessdate=12 February 2013}}</ref> In 1982, the downstream assets of BP Canada were sold to ]. In 1984, ] was renamed to ]; and it bought ]—the largest merger in history at that time.<ref name=CVX-H-01/> To settle the anti-trust regulation, Chevron divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States to British Petroleum and ] in 1985.<ref>{{cite web|url=http://www.chevron.com/about/leadership/ |title=Company Profile |publisher=chevron.com |accessdate=5 May 2010| archiveurl= http://web.archive.org/web/20100412113959/http://www.chevron.com/about/leadership/| archivedate= 12 April 2010 <!--DASHBot-->| deadurl= no}}</ref> In 1992; British Petroleum sold off its 57% stake in BP Canada (upstream operations), which was renamed as ] Inc.<ref name=TLM-H-01/> | |||
| In 1967, BP acquired chemical and plastics assets of The Distillers Company which were merged with British Hydrocarbon Chemicals to form BP Chemicals.<ref name=James2000d>], pp. 385–389</ref> | |||
| ],<!-- not ennobled until 2001 --> who had been on the board as managing director since 1991, was appointed group chief executive in 1995.<ref>{{cite web|url=http://www.raeng.org.uk/about/fellowship/fame/browne.htm |title=Royal Academy of Engineering |publisher=Raeng.org.uk |accessdate=5 June 2010}}</ref> | |||
| The company's oil assets were nationalised in Libya in 1971, in Kuwait in 1975, and in Nigeria in 1979.<ref name=alsharhan/><ref name="BPHistory"/><ref name="GT-DEX-21C-O-01"/> In Iraq, IPC ceased its operations after it was nationalised by the ]i government in June 1972, although legally Iraq Petroleum Company still remains in existence but as a dormant company,<ref name=cds/> and one of its associated companies —] (ADPC), formerly Petroleum Development (Trucial Coast) Ltd – also continues with the original shareholding intact.<ref name="GT-DEX-2012-100"/><ref name="GT-DEX-2012-101"/> | |||
| ===2000 to 2010=== | |||
| British Petroleum merged with ] (formerly Standard Oil of Indiana) in December 1998,<ref>{{Cite news|url=http://news.bbc.co.uk/2/hi/business/149139.stm |title=BP and Amoco in oil mega-merger |publisher = BBC News |date=11 August 1998 |accessdate=5 June 2010}}</ref> becoming BP Amoco plc.<ref name="namechg">{{Cite press release |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=2001578|title=BP Parent Company Name Change Following AGM Approval |publisher=BP |date=1 May 2001 |accessdate=11 June 2010}}</ref> In 2000, BP Amoco acquired ]<ref>{{Cite news|url=http://www.independent.co.uk/news/business/bp-strikes-it-rich-in-america-1084972.html |title=BP strikes it rich in America |newspaper=] |location=London |date=4 April 1999 |accessdate=5 June 2010 | first=David | last=Brierley}}</ref> and ] plc.<ref>{{Cite press release |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=2000691 |title=BP Amoco Agrees Recommended Cash Offer To Buy Burmah Castrol For £3 ($4.7) Billion |publisher=BP |date=14 March 2000 |accessdate=11 June 2010}}</ref> As part of the merger's brand awareness, the company helped the ] British Art launch ''RePresenting Britain 1500–2000''<ref>Life: The Observer Magazine – A celebration of 500 years of British Art – 19 March 2000</ref> In 2001, the company formally renamed itself as BP plc<ref name="namechg" /> and adopted the tagline "Beyond Petroleum," which remains in use today. It states that BP was never meant to be an abbreviation of its tagline. Most Amoco stations in the United States were converted to BP's brand and corporate identity. In many states BP continued to sell Amoco branded petrol even in service stations with the BP identity as Amoco was rated the best petroleum brand by consumers for 16 consecutive years and also enjoyed one of the three highest brand loyalty reputations for petrol in the US, comparable only to Chevron and ]. In May 2008, when the Amoco name was mostly phased out in favour of "BP Gasoline with Invigorate", promoting BP's new additive, the highest grade of BP petrol available in the United States was still called Amoco Ultimate.{{citation needed|date=August 2012}} | |||
| The intensified power struggle between oil companies and host governments in Middle East, along with the oil price shocks that followed the ] meant British Petroleum lost most of its direct access to crude oil supplies produced in countries that belonged to the Organization of Petroleum Exporting Countries (]), and prompted it to diversify its operations beyond the heavily Middle East dependent oil production. In 1976, BP and Shell de-merged their marketing operations in the United Kingdom by dividing Shell-Mex and BP. In 1978, the company acquired a controlling interest in ] (Sohio).<ref name="NYtimes"/> | |||
| ] | |||
| In Iran, British Petroleum continued to operate until the ] in 1979. The new regime of ] nationalised all of the company's assets in Iran without compensation: as a result, BP lost 40% of its global crude oil supplies.<ref name="nyt200379"/> | |||
| In the beginning of 2000s, BP became the leading partner and later operator of the ] project. The pipeline open a new oil transportation route from the Caspian region.<ref name=ft260505> | |||
| {{cite news | |||
| | url= http://www.ft.com/cms/s/0/92c5e7f6-cd84-11d9-aa26-00000e2511c8.html#axzz24LMrU4NU | |||
| | title= BTC pipeline the 'new Silk Road' | |||
| | first = Vincent | last = Boland | |||
| | newspaper = ] | |||
| | date= 26 May 2005 | |||
| | accessdate= 9 September 2012 | |||
| | id = {{subscription required}}}} | |||
| </ref> | |||
| In 1970–1980s, BP diversified into ], ] and ] businesses which all were divested later.<ref name=beale/> | |||
| On 1 September 2003, BP and a group of Russian billionaires, known as AAR (]-]-]), announced the creation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine. As a result, TNK-ВР was created.<ref name=cnn260603> | |||
| {{cite news | |||
| | url= http://edition.cnn.com/2003/BUSINESS/06/26/russia.oil/ | |||
| | title= BP, TNK sign $6bn Russia deal | |||
| | publisher = CNN | |||
| | date= 26 June 2003 | |||
| | accessdate= 9 September 2012}} | |||
| </ref> ААR contributed its holdings in TNK International, ONAKO, SIDANCO, RUSIA Petroleum (which held licenses for the ] and the ]), and the ] in West Siberia (the New Urengoy and East Urengoy deposits). BP contributed its holding in SIDANCO, RUSIA Petroleum, and its BP Moscow retail network. | |||
| ===1979 to 1997=== | |||
| In April 2004, BP decided to move most of its petrochemical businesses into a separate entity called Innovene within the BP Group. In 2005, it was sold to ], a privately held UK chemical company for $9 billion.<ref>{{Cite news|url=http://news.bbc.co.uk/2/hi/business/4321046.stm |title=BP sells chemical unit for £5bn |publisher =BBC News |date=7 October 2005 |accessdate=5 June 2010}}</ref><ref name=bp161205>{{Cite press release|url= http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7013136|title=BP Sale of Innovene to Ineos Completed |publisher=BP|date=15 December 2005 |accessdate=7 July 2012}}</ref> | |||
| The ] sold 80 million shares of BP at $7.58 in 1979, as part of ] privatisation. This sale represented slightly more than 5% of BP's total shares and reduced the government's ownership of the company to 46%.<ref name="Globe1979"/> On 19 October 1987, Prime Minister ] authorised the sale of an additional GBP7.5 billion ($12.2 billion) of BP shares at 333 pence, representing the government's remaining 31% stake in the company.<ref name="Lohr1987"/><ref>{{cite news|first=Steve |last=Lohr |url=https://www.nytimes.com/1987/10/30/business/bp-issue-to-proceed-safeguard-put-on-price.html |title=B.P. Issue to Proceed; Safeguard Put on Price |newspaper=] |date=30 October 1987 |access-date=13 April 2014}}</ref> | |||
| In November 1987, the ] purchased a 10.06% interest in BP, becoming the largest institutional shareholder.<ref name="TorontoStar1987"/> The following May, the KIO purchased additional shares, bringing their ownership to 21.6%.<ref name=nyt191187/> This raised concerns within BP that operations in the United States, BP's primary country of operations, would suffer. In October 1988, the British ] required the KIO to reduce its shares to 9.6% within 12 months.<ref name="OConnor1988"/> | |||
| In 2005, BP announced that it would be leaving the ] market.<ref>{{Cite news|url=http://www.accessmylibrary.com/premium/0286/0286-8415795.html |title=BP puts 100 gas stations up for sale in Colorado.(British Petroleum Company PLC) |publisher=Accessmylibrary.com |date=2 June 2005 |accessdate=5 June 2010 | first=Steve | last=Raabe}}{{dead link|date=August 2012}}</ref> Many locations were re-branded as ].<ref>{{Cite news|url=http://nl.newsbank.com/nl-search/we/Archives?p_product=RM&p_theme=rm&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=10DF72B65CF64A98&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM |title=Gas station signs of change |publisher=Nl.newsbank.com |date=18 November 2005 |accessdate=5 June 2010}}</ref> In 2006, when Chevron Corporation gave exclusive rights to the ] brand name in the US Texaco sold most of the BP gas stations in the southeast. BP has recently looked to grow its oil exploration activities in frontier areas such as the former Soviet Union for its future reserves.<ref>{{cite web|title=Penny Shares Online: BP(BP.)|url=http://www.pennysharesonline.com/company/B/BP-BP..asp | |||
| |archiveurl=http://web.archive.org/web/20070807121434/http://www.pennysharesonline.com/company/B/BP-BP..asp |archivedate=7 August 2007 |date=10 July 2006 |accessdate=11 June 2010}}</ref> In 2007, BP sold its corporate-owned convenience stores, typically known as "BP Connect", to local ]s and ].<ref>{{Cite press release |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7038464 |title=BP to Sell Most Company-Owned, Company-Operated Convenience Stores to Franchisees |publisher=BP |date=15 November 2007 |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100625003707/http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7038464| archivedate= 25 June 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| ] was the company chairman from 1981 to 1990.<ref name=lat080989/> During his period as chairman he reduced the company's refining capacity in Europe.<ref name=lat080989/> In 1982, the ] assets of BP Canada were sold to ]. In 1984, ] was renamed the ]; it bought Gulf Oil—the largest merger in history at that time.<ref name="CVX-H-01"/> To meet anti-trust regulations, Chevron divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States to British Petroleum and ] in 1985.<ref name="chevron-profile"/> In 1987, British Petroleum negotiated the acquisition of ]<ref name=ap050288/> and the remaining publicly traded shares of Standard Oil of Ohio.<ref name="NYtimes"/> At the same year it was listed on the ] where its share were traded until delisting in 2008.<ref name=reuters240608/> | |||
| Lord Browne resigned from BP on 1 May 2007. The new chief executive became ], who had been head of exploration and production.<ref>{{Cite news |first1=Ian | last1 = Cobain | first2= Clare | last2 =Dyer |url=http://www.guardian.co.uk/business/2007/may/02/media.pressandpublishing |title=BP's Browne quits over lie to court about private life |newspaper = ] |date= 2 May 2007 |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100529193637/http://www.guardian.co.uk/business/2007/may/02/media.pressandpublishing| archivedate= 29 May 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| Walters was replaced as chair by ] in 1990. Horton wrote on his appointment that he and his senior colleagues would adopt values representing the interests of "all ]s", including the company's employees, customers, shareholders, suppliers and the community".<ref>Thomas, P., "Stakeholders and Strategic Management: The Misappropriation of Discourse", Critical Management Studies Conference, 14–16 July 1999, p. 13. Thomas uses Horton's text as a "real" example portraying ] being put into practice.</ref> Horton carried out a major corporate downsizing exercise, removing various tiers of management at the head office.<ref name=roberts/> In 1992, British Petroleum sold off its 57% stake in BP Canada (] operations), which was renamed as ].<ref name="TLM-H-01"/> ],<!-- not ennobled until 2001 --> who had joined BP in 1966 and rose through the ranks to join the board as managing director in 1991, was appointed group chief executive in 1995.<ref name=browne/> | |||
| In 2009, BP obtained a production contract during the ] to develop the "]" with joint venture partner ], which contain an estimated {{convert|17|Goilbbl|m3}} of oil, accounting for 12% of Iraq's oil reserves estimated at 143.1 billion barrels.<ref name=GT-DEX-2012-83/><ref name=GT-DEX-2010-66/> In June 2010, the BP/CNPC consortium took over development of the field,<ref name=GT-DEX-2009-53/><ref name=GT-DEX-2009-53-B/> which was the epicentre of the 1990 ].<ref name=GT-DEX-1990-01/><ref name=GT-DEX-1990-02/> | |||
| In 1981, British Petroleum entered into the solar technology sector by acquiring 50% of Lucas Energy Systems, a company which became Lucas BP Solar Systems, and later ]. The company was a manufacturer and installer of ] ]. It became wholly owned by British Petroleum in the mid-1980s.<ref>{{cite journal|title=BP and Lucas form solar company |journal=Electronics and Power |date=March 1981|doi=10.1049/ep.1981.0091|volume=27|page=204 | issn = 0013-5127}}</ref> | |||
| ===2010 to present=== | |||
| On 1 October 2010, ] replaced ] as the company's CEO after the Deepwater Horizon oil spill.<ref>{{Cite news | |||
| British Petroleum entered the Russian market in 1990 and opened its first service station in Moscow in 1996.<ref name=":3">{{Cite news |last=Wilson |first=Tom |date=24 March 2022 |title=Oligarchs, power and profits: the history of BP in Russia |work=] |url=https://www.ft.com/content/e9238fa2-65a2-4753-a845-ce8129f93a0c |url-access=subscription|access-date=25 March 2022}}</ref> In 1997, it acquired a 10% stake for $571 million in the Russian oil company ], which later became a part of TNK-BP.<ref name=mt290212/><ref name=":3" /> Sidanco was run by Russian oligarch ] who obtained Sidanco through the controversial ] privatization scheme.<ref name=":3" /> In 2003, BP invested $8 billion into a joint venture with Russian oligarch ]'s TNK.<ref name=":3" /> | |||
| |url= http://uk.reuters.com/article/2010/09/30/uk-bp-dividend-idUKTRE68T3WR20100930 | |||
| |title= New BP CEO says hopes to restore dividend in 2011 | |||
| In 1992, the company entered the Azerbaijani market. In 1994, it signed the production sharing agreement for the ] oil project and in 1995 for the ] development.<ref name=caspia>{{cite web | url=https://www.bp.com/en_az/caspian/aboutus/history.html | title= BP in Azerbaijan. Our history | publisher= BP |access-date=2 March 2018}}</ref> | |||
| |last1=Young|first1=Sarah | |||
| |last2=Falloon|first2=Matt | |||
| ===1998 to 2009=== | |||
| |agency=] | |||
| Under John Browne, British Petroleum acquired other oil companies, transforming BP into the third largest oil company in the world. British Petroleum merged with ] (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc.<ref name=bbc110899/><ref name="namechg"/> Most Amoco stations in the United States were converted to BP's brand and corporate identity. In 2000, BP Amoco acquired ] and ].<ref name="independent.co.uk"/><ref name=bp140300/><ref name="Brierley"/><ref name="BBCNews2000"/> Together with the acquisition of ARCO in 2000, BP became owner of a 33.5% stake in the Olympic Pipeline. Later that year, BP became an operator of the pipeline and increased its stake up to 62.5%.<ref name=ogj070201/><ref name=ap280901/> | |||
| |date=30 September 2010 | |||
| |accessdate=30 January 2011}} | |||
| As part of the merger's brand awareness, the company helped the ] gallery of British Art launch ''RePresenting Britain 1500–2000''.<ref name=observer190300/> In 2001, in response to negative press on British Petroleum's poor safety standards, the company adopted a green ] logo and rebranded itself as BP ("Beyond Petroleum") plc.<ref name="namechg" /> | |||
| </ref> After the oil spill BP announced a divestment program to sell about $38 billion worth of non-core assets by 2013 to compensate its liabilities related to the accident.<ref name=wsj100912/><ref name=nasdaq> | |||
| ] | |||
| In the beginning of the 2000s, BP became the leading partner (and later operator) of the ] project which opened a new oil transportation route from the Caspian region.<ref name=ft260505/> In 2002, BP acquired the majority of Veba Öl AG, a subsidiary of ], and subsequently rebranded its existing stations in Germany to the ] name.<ref name=BPAral/> As part of the deal, BP acquired also the Veba Öl's stake in Ruhr Öl joint venture. Ruhr Öl was dissolved in 2016.<ref>{{cite news |url= https://www.ogj.com/articles/print/volume-115/issue-1c/general-interest/rosneft-bp-finalize-dissolution-of-german-refining-jv.html |title=Rosneft, BP finalize dissolution of German refining JV|date=23 January 2017|publisher=Oil & Gas Journal|access-date=25 February 2018 |url-access=subscription }}</ref> | |||
| On 1 September 2003, BP and a group of Russian billionaires, known as AAR (]–]–]), announced the creation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine. As a result, TNK-ВР was created.<ref name=cnn260603/> | |||
| In 2004, BP's ] and ] business was moved into a separate entity which was sold to ] in 2005.<ref name=bbc071005/><ref name=bp161205/> In 2007, BP sold its corporate-owned convenience stores, typically known as "]", to local ]s and ].<ref name=bp151107/> | |||
| On 23 March 2005, 15 workers were killed and more than 170 injured in the ]. To save money, major upgrades to the 1934 refinery had been postponed.<ref name=autogenerated5>{{cite news|url= http://fortune.com/2011/01/24/bp-an-accident-waiting-to-happen/ |title=BP: 'An accident waiting to happen' |work=]|date=24 January 2011 |access-date=13 April 2014}}</ref> Browne pledged to prevent another catastrophe. Three months later, ']', BP's giant new production platform in the Gulf of Mexico, nearly sank during a hurricane. In their rush to finish the $1 billion platform, workers had installed a valve backwards, allowing the ballast tanks to flood. Inspections revealed other shoddy work. Repairs costing hundreds of millions would keep Thunder Horse out of commission for three years.<ref name=autogenerated5 /> | |||
| Lord Browne resigned from BP on 1 May 2007. The head of exploration and production ] became the new chief executive.<ref name=guardian020507/> In 2009, Hayward shifted emphasis from Lord Browne's focus on alternative energy, announcing that safety would henceforth be the company's "number one priority".<ref name=bbc110509/> | |||
| In 2007, BP formed with ] and ] a joint venture Vivergo Fuels which opened a bioethanol plant in ] near ], United Kingdom in December 2012.<ref name=reuters061212> | |||
| {{Cite news | {{Cite news | ||
| |url = https://www.reuters.com/article/uk-vivergo-biofuels/vivergo-uk-biorefinery-starts-operations-idUKBRE8B50J820121206 | |||
| |url= http://community.nasdaq.com/News/2012-09/bp-close-to-gom-assets-sale-analyst-blog.aspx?storyid=171508 | |||
| |title = Vivergo UK biorefinery starts operations | |||
| |title= BP Close to GoM Assets Sale - Analyst Blog | |||
| |last1 = Hunt |first1 = Nigel | |||
| |work= Zacks Equity Research | |||
| | |
|work = ] | ||
| |date= |
|date = 6 December 2012 | ||
| | |
|access-date = 16 September 2017}} | ||
| </ref> Together with DuPont, BP formed a ] joint venture Butamax by acquiring biobutan technology company Biobutanol LLC in 2009.<ref name=reuters080709> | |||
| </ref> In July 2010, it sold its natural gas activities in ] and ], Canada, to ].<ref name=fp300712> | |||
| {{Cite news | |||
| |url = https://www.reuters.com/article/eu-bp-dupont-idUSBRQ00743220090708 | |||
| |title = EU clears BP, DuPont to take over biobutanol firm | |||
| |work = ] | |||
| |date = 8 July 2009 | |||
| |access-date = 16 September 2017}} | |||
| </ref> | |||
| In 2009, BP obtained a ] to develop the supergiant ] with joint venture partner ].<ref name="GT-DEX-2012-83"/><ref name="GT-DEX-2010-66"/> | |||
| ===2010 to 2020=== | |||
| ]]] | |||
| ], with a Wild Bean Cafe and BP Connect]] | |||
| ], ]]] | |||
| In January 2010, ] became chairman of BP board of directors.<ref name=wsj191017>{{cite news | url=https://www.wsj.com/articles/bp-chairman-carl-henric-svanberg-to-retire-1508429234 | title=BP Chairman Carl-Henric Svanberg to Retire | last=Kent | first=Sarah | newspaper= The Wall Street Journal | date=19 October 2017 | access-date=19 July 2019}}</ref> | |||
| On 20 April 2010, the ], a major industrial accident, happened.<ref name=report2011/> Consequently, ] replaced Tony Hayward as the company's CEO, serving from October 2010 to February 2020.<ref name=reuters300910>{{Cite news |url = https://uk.reuters.com/article/uk-bp-dividend/new-bp-ceo-says-hopes-to-restore-dividend-in-2011-idUKTRE68T3WR20100930 |archive-url = https://web.archive.org/web/20200302201441/https://uk.reuters.com/article/uk-bp-dividend/new-bp-ceo-says-hopes-to-restore-dividend-in-2011-idUKTRE68T3WR20100930 |url-status = dead |archive-date = 2 March 2020 |title = New BP CEO says hopes to restore dividend in 2011 |last1 = Young |first1 = Sarah |last2 = Falloon |first2 = Matt |work = ] |date = 30 September 2010 |access-date = 30 January 2011}}</ref><ref name="DudleyRetires">{{cite news |title=BP Chief Executive Bob Dudley Is to Retire |url=https://www.nytimes.com/2019/10/04/business/bp-ceo-bob-dudley-bernard-looney.html |last1=Reed |first1=Stanley |newspaper=] |date=4 October 2019 |access-date=28 February 2020}}</ref> BP announced a divestment program to sell about $38 billion worth of non-core assets to compensate its liabilities related to the accident.<ref name=wsj100912/><ref name=nasdaq> | |||
| {{Cite news | |||
| |url = http://www.nasdaq.com/article/bp-close-to-gom-assets-sale-analyst-blog-cm171508 | |||
| |title = BP Close to GoM Assets Sale – Analyst Blog | |||
| |work = Zacks Equity Research | |||
| |publisher= ] | |||
| |date = 9 September 2012 | |||
| |access-date = 10 September 2012}} | |||
| </ref> In July 2010, BP sold its natural gas activities in ] and ], Canada, to ].<ref name=fp300712> | |||
| {{Cite news | {{Cite news | ||
| |url= http://business.financialpost.com/ |
|url= http://business.financialpost.com/commodities/energy/bp-back-in-growth-mode-eyes-oil-sands | ||
| |title= BP back in growth mode, eyes oil sands | |title= BP back in growth mode, eyes oil sands | ||
| |newspaper = ] | |newspaper = ] | ||
| |first1= Claudia | last1= Cattaneo | |first1= Claudia | last1= Cattaneo | ||
| |date= 30 July 2012 | |date= 30 July 2012 | ||
| | |
|access-date= 19 September 2012}} | ||
| </ref> |
</ref> It sold its stake in the Petroperijá and Boquerón fields in Venezuela and in the Lan Tay and Lan Do fields, the Nam Con Son pipeline and terminal, and the ] in Vietnam to TNK-BP,<ref name=reuters271010/><ref name=bloomberg181010/> ]s and supply businesses in Namibia, Botswana, Zambia, Tanzania and Malawi to ],<ref name=reuters151110> | ||
| {{Cite news | |||
| |url= http://www.reuters.com/article/2010/10/27/venezuela-oil-tnk-bp-idUSN2728260120101027 | |||
| |title= Venezuela says BP's asset sale valued at $800 mln | |||
| |agency= Reuters | |||
| |first1= Marianna | last1=Parraga | |||
| |first2=Daniel |last2 = Wallis | |||
| |date= 27 October 2010 | |||
| |accessdate= 10 September 2012}} | |||
| </ref><ref name=bloomberg181010> | |||
| {{Cite news | {{Cite news | ||
| |url= https://uk.reuters.com/article/bp-trafigura/update-3-bp-sells-southern-africa-fuel-retail-units-idUKLDE6AE0D020101115 | |||
| |url= http://www.bloomberg.com/news/2010-10-18/tnk-bp-agrees-to-acquire-bp-assets-in-venezuela-vietnam-for-1-8-billion.html | |||
| |archive-url= https://web.archive.org/web/20200604124202/https://uk.reuters.com/article/bp-trafigura/update-3-bp-sells-southern-africa-fuel-retail-units-idUKLDE6AE0D020101115 | |||
| |title= BP Sells Venezuela, Vietnam Assets to TNK-BP for $1.8 Billion | |||
| |url-status= dead | |||
| |agency= Bloomberg | |||
| |archive-date= 4 June 2020 | |||
| |first1= Stephen | last1= Bierman | |||
| |first2=Brian |last2 = Swint | |||
| |date= 27 October 2010 | |||
| |accessdate= 10 September 2012}} | |||
| </ref> At the same time, it sold its forecourts and supply businesses in Namibia, Botswana, Zambia, Tanzania and Malawi to ], a subsidiary of ].<ref name=reuters151110> | |||
| {{Cite news | |||
| |url= http://uk.reuters.com/article/2010/11/15/bp-trafigura-idUKLDE6AE0D020101115 | |||
| |title= BP sells Southern Africa fuel retail units | |title= BP sells Southern Africa fuel retail units | ||
| | |
|work=] | ||
| |first1= Tom| last1= Bergin | |first1= Tom| last1= Bergin | ||
| |first2= Emma |last2 = Farge | |first2= Emma |last2 = Farge | ||
| |date= 15 November 2010 | |date= 15 November 2010 | ||
| | |
|access-date= 10 September 2012}} | ||
| </ref> |
</ref> the ] onshore oilfield in ] and a package of North Sea gas assets to ],<ref name=wsj270312> | ||
| {{Cite news | {{Cite news | ||
| |url= http://www.marketwatch.com/story/bp-sells-uk-gas-assets-to-perenco-for-400-million-2012-03-27 | |url= http://www.marketwatch.com/story/bp-sells-uk-gas-assets-to-perenco-for-400-million-2012-03-27 | ||
| |title= BP sells UK gas assets to Perenco for $ |
|title= BP sells UK gas assets to Perenco for $399.253 million | ||
| |work= |
|work=] | ||
| |first = Alexis | last = Flynn | |first = Alexis | last = Flynn | ||
| |date= 27 March 2012 | |date= 27 March 2012 | ||
| | |
|access-date= 10 September 2012}} | ||
| </ref> |
</ref> natural-gas liquids business in Canada to ],<ref name=bloomberg011211/> natural gas assets in Kansas to ],<ref name=wichita280212> | ||
| {{Cite news | {{Cite news | ||
| |url= |
|url= https://www.bizjournals.com/wichita/news/2012/02/28/bp-sell-kansas-natural-gas-assets-to.html | ||
| |title= Plains Buys $1.67 Billion BP Unit to Expand Liquids Position | |||
| |agency= Bloomberg | |||
| |work = ] | |||
| |first1= Mike | last1= Lee | |||
| |first2=Brian |last2 = Swint | |||
| |date= 1 December 2012 | |||
| |accessdate= 10 September 2012}} | |||
| </ref> In February 2012, BP sold its natural gas assets in Kansas to ].<ref name=wichita280212> | |||
| {{Cite news | |||
| |url= http://www.bizjournals.com/wichita/news/2012/02/28/bp-sell-kansas-natural-gas-assets-to.html | |||
| |title= BP sell Kansas natural gas assets to Linn Energy for $1.2 billion | |title= BP sell Kansas natural gas assets to Linn Energy for $1.2 billion | ||
| |newspaper= Wichita Business Journal | |newspaper= Wichita Business Journal | ||
| |first1 = Daniel | last1 = McCoy | |first1 = Daniel | last1 = McCoy | ||
| |date= 28 February 2012 | |date= 28 February 2012 | ||
| | |
|access-date= 10 September 2012}} | ||
| </ref> |
</ref> Carson Refinery in ] and its ARCO retail network to ], Sunray and Hemphill gas processing plants in ], together with their associated gas gathering system, to Eagle Rock Energy Partners,<ref name="ft180912"> | ||
| {{Cite news | {{Cite news | ||
| |url= |
|url= https://www.ft.com/content/fe474230-01a3-11e2-8aaa-00144feabdc0 | ||
| |title= BP in talks to sell Texas City refinery | |title= BP in talks to sell Texas City refinery | ||
| |newspaper= |
|newspaper=] | ||
| |first1 = Guy | last1 = Chazan | |first1 = Guy | last1 = Chazan | ||
| |first2 = Anousha | last2 = Sakoui | |first2 = Anousha | last2 = Sakoui | ||
| |date= 18 September 2012 | |date= 18 September 2012 | ||
| | |
|access-date= 21 September 2012 | ||
| |url-access=registration }} | |||
| </ref><ref name=wsj130812> | |||
| </ref><ref name="CarsonSale">{{cite press release |title=BP Agrees to Sell Carson Refinery and ARCO Retail Network in US Southwest to Tesoro for $2.5 Billion |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7076807 |publisher=BP |date=13 August 2012 |access-date=17 August 2012 |archive-url= https://web.archive.org/web/20120815055325/http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7076807 |archive-date= 15 August 2012}}</ref><ref name="bp100812">{{Cite press release | |||
| {{Cite news | |||
| |url= http://online.wsj.com/article/BT-CO-20120813-706787.html | |||
| |title= BP Agrees $2.5 Billion Sale Of Carson Refinery To Tesoro | |||
| |newspaper= The Wall Street Journal | |||
| |first1 = Selina | last1 = Williams | |||
| |date= 13 August 2012 | |||
| |accessdate= 10 September 2012}}{{dead link|date=December 2012}} | |||
| </ref><ref name="CarsonSale">{{cite press release |title=BP Agrees to Sell Carson Refinery and ARCO Retail Network in US Southwest to Tesoro for $2.5 Billion |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7076807 |publisher=BP |date=13 August 2012 |accessdate=17 August 2012}}</ref><ref name=bp100812> | |||
| {{Cite press release | |||
| |url= http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7076777 | |url= http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7076777 | ||
| |title= BP To Sell Texas Midstream Gas Assets | |title= BP To Sell Texas Midstream Gas Assets | ||
| |publisher= BP | |publisher= BP | ||
| |date= 10 August 2012 | |date= 10 August 2012 | ||
| | |
|access-date= 10 September 2012 | ||
| |archive-url=https://web.archive.org/web/20120815022054/http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7076777 | |||
| </ref> In September 2012, BP agreed to sell 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 ] for $5.55 billion.<ref name=wsj100912> | |||
| |archive-date= 15 August 2012}} | |||
| {{Cite news | |||
| </ref> the Texas City Refinery and associated assets to ],<ref name="reuters081012">{{Cite news | |||
| |url= http://online.wsj.com/article/SB10000872396390444554704577643112090398808.html | |||
| |url= https://uk.reuters.com/article/us-marathon-bp/marathon-to-buy-bp-texas-city-refinery-for-up-to-2-5-billion-idUSBRE8970KG20121008 | |||
| |title= BP in Deal to Sell Some Gulf Fields | |||
| |archive-url= https://web.archive.org/web/20200604122245/https://uk.reuters.com/article/us-marathon-bp/marathon-to-buy-bp-texas-city-refinery-for-up-to-2-5-billion-idUSBRE8970KG20121008 | |||
| |newspaper= The Wall Street Journal | |||
| |url-status= dead | |||
| |first1 = Anupreeta | last1 = Das | |||
| |archive-date= 4 June 2020 | |||
| |first2 = Ryan | last2 = Dezember | |||
| |first3 = Alexis | last3 = Flynn | |||
| |date= 9 September 2012 | |||
| |accessdate= 10 September 2012}} | |||
| </ref> The sale of the ] and associated assets to ] was agreed in October 2012 and was completed on 1 February 2013.<ref name=reuters081012> | |||
| {{Cite news | |||
| |url= http://uk.reuters.com/article/2012/10/08/us-marathon-bp-idUSBRE8970KG20121008 | |||
| |title= Marathon to buy BP Texas City refinery for up to $2.5 billion | |title= Marathon to buy BP Texas City refinery for up to $2.5 billion | ||
| | |
|work=] | ||
| |first1= Kristen | last1= Hays | |first1= Kristen | last1= Hays | ||
| |date= 8 October 2012 | |date= 8 October 2012 | ||
| | |
|access-date= 22 October 2012}} | ||
| </ref><ref name=biz010213> | </ref><ref name="biz010213">{{Cite news | ||
| |url= https://www.bizjournals.com/houston/news/2013/02/01/bp-completes-texas-city-refinery-sale.html | |||
| {{Cite news | |||
| |url= http://www.bizjournals.com/houston/news/2013/02/01/bp-completes-texas-city-refinery-sale.html | |||
| |title= BP completes Texas City refinery sale to Marathon Petroleum | |title= BP completes Texas City refinery sale to Marathon Petroleum | ||
| |newspaper = Houston Business Journal | |newspaper = Houston Business Journal | ||
| |first1= Olivia | last1= Pulsinelli | |first1= Olivia | last1= Pulsinelli | ||
| |date= 1 February 2013 | |date= 1 February 2013 | ||
| | |
|access-date= 1 February 2013}} | ||
| </ref> the ] located Marlin, Dorado, King, Horn Mountain, and Holstein fields as also its stake in non-operated Diana Hoover and Ram Powell fields to ],<ref name="wsj100912">{{Cite news | |||
| </ref> | |||
| |url= https://www.wsj.com/articles/SB10000872396390444554704577643112090398808 | |||
| |title= BP in Deal to Sell Some Gulf Fields | |||
| In the United Kingdom, BP agreed to sell its liquefied petroleum gas distribution business to DCC.<ref name=be090812> | |||
| |newspaper= The Wall Street Journal | |||
| {{Cite news | |||
| |first1 = Anupreeta | last1 = Das | |||
| |url= http://www.bus-ex.com/article/bp-sells-lpg-unit-dcc | |||
| |first2 = Ryan | last2 = Dezember | |||
| |title= BP sells LPG unit to DCC | |||
| |first3 = Alexis | last3 = Flynn | |||
| |newspaper= Business Excellent | |||
| |date= 9 |
|date= 9 September 2012 | ||
| | |
|access-date= 10 September 2012 | ||
| |url-access=subscription }} | |||
| </ref> In Norway, it sold its non-operating stake in the ] to ].<ref name=reuters130912> | |||
| </ref> non-operating stake in the ] to ],<ref name=reuters130912> | |||
| {{Cite news | {{Cite news | ||
| |url= |
|url= https://www.reuters.com/article/bp-brief/brief-bp-to-sell-interest-in-draugen-field-to-shell-for-240-mln-idUSWLA324220120913 | ||
| |title= BP to sell interest in Draugen field to Shell for $240 mln | |title= BP to sell interest in Draugen field to Shell for $240 mln | ||
| | |
|work=] | ||
| |date= 13 September 2012 | |date= 13 September 2012 | ||
| | |
|access-date= 22 October 2012}} | ||
| </ref> and the UK's liquefied petroleum gas distribution business to DCC.<ref name=be090812> | |||
| </ref> | |||
| {{Cite news | |||
| |url= https://uk.reuters.com/article/bp-dcc/update-1-bp-sells-uk-lpg-distribution-business-to-dcc-idINL6E8J83R020120808 | |||
| |archive-url= https://web.archive.org/web/20170917032317/http://uk.reuters.com/article/bp-dcc/update-1-bp-sells-uk-lpg-distribution-business-to-dcc-idINL6E8J83R020120808 | |||
| |url-status= dead | |||
| |archive-date= 17 September 2017 | |||
| |title= BP sells UK LPG distribution business to DCC | |||
| |work=] | |||
| |date= 8 August 2012 | |||
| |access-date= 16 September 2017}} | |||
| </ref> In November 2012, the U.S. Government temporarily banned BP from bidding any new federal contracts. The ban was conditionally lifted in March 2014.<ref name="Times 3-14-14">{{cite news | url=https://www.nytimes.com/2014/03/14/business/energy-environment/epa-to-lift-suspension-of-oil-leases-for-bp.html | title=U.S. Agrees to Allow BP Back into Gulf Waters to Seek Oil | newspaper=] | date=14 March 2014 | access-date=14 March 2014 | last =Krauss | first = Clifford}}</ref> | |||
| In February 2011, BP formed a partnership with ], taking a 30% stake in a new Indian joint-venture for an initial payment of $7.2 billion.<ref>{{Cite news| url= https://nypost.com/2011/02/21/bp-announces-7-2b-partnership-with-indias-reliance/ | newspaper = ] | title = BP announces $7.2B partnership with India's Reliance | date=21 February 2011| access-date = 9 September 2012}}</ref> In September 2012, BP sold its subsidiary BP Chemicals (Malaysia) Sdn. Bhd., an operator of the Kuantan ] (PTA) plant in Malaysia, to Reliance Industries for $230 million.<ref name=bl290912> | |||
| On 15 January 2011, Rosneft and BP announced a deal to jointly develop ] on the ].<ref name="bbc_arcticdeal">{{Cite news|url=http://www.bbc.co.uk/news/business-12195576|title=BP and Russia in Arctic oil deal|publisher=BBC News |date=14 January 2011}}</ref> However, the deal was blocked by BP's co-shareholders in TNK-BP due to a dispute over Russian exploration rights between the two companies, and was nullified.<ref name="bp-tnk-bp">{{cite news |first1=Alexis|last1= Flynn|first2=Jacob| last2=Gronholt-Pedersen |url=http://online.wsj.com/article/SB10001424052748703421204576331033490882712.html |title=BP, Rosneft Still in Talks |newspaper=] |date=18 May 2011 |accessdate=2011-05-22|id={{subscription required}}}}</ref> In October 2012, Rosneft reached separate agreements with BP and AAR to acquire TNK-BP, with each deal subject to regulatory approval; the price for BP's shares was $12.3 billion in cash and 18.5% of Rosneft's stock.<ref name=reuters221012> | |||
| {{Cite news | |||
| |url= https://www.thehindubusinessline.com/companies/Reliance-Global-to-buy-BP%E2%80%99s-Malaysian-petrochem-unit-for-230-mn/article20506813.ece | |||
| |title= Reliance Global to buy BP's Malaysian petrochem unit for $230 mn | |||
| |newspaper = ] | |||
| |date= 29 September 2012 | |||
| |access-date= 22 October 2012}} | |||
| </ref> In October 2012, BP sold its stake in TNK-BP to Rosneft for $12.3 billion in cash and 18.5% of Rosneft's stock.<ref name=":2">{{Cite journal |last1=Overland |first1=Indra |last2=Godzimirski |first2=Jakub |last3=Lunden |first3=Lars Petter |last4=Fjaertoft |first4=Daniel |date=2013 |title=Rosneft's offshore partnerships: the re-opening of the Russian petroleum frontier? |url=https://www.researchgate.net/publication/259431566 |journal=Polar Record |language=en |volume=49 |issue=2 |pages=140–153 |doi=10.1017/S0032247412000137 |issn=0032-2474 |doi-access=free|bibcode=2013PoRec..49..140O |hdl=11250/2442558 |hdl-access=free }}</ref><ref name=reuters221012> | |||
| {{Cite news | {{Cite news | ||
| |url= |
|url= https://uk.reuters.com/article/bp-rosneft/update-5-russias-rosneft-beefs-up-with-tnk-bp-purchase-idUSL5E8LM23U20121022 | ||
| |archive-url= https://web.archive.org/web/20200604123638/https://uk.reuters.com/article/bp-rosneft/update-5-russias-rosneft-beefs-up-with-tnk-bp-purchase-idUSL5E8LM23U20121022 | |||
| |url-status= dead | |||
| |archive-date= 4 June 2020 | |||
| |title= Rosneft beefs up with TNK-BP purchase | |title= Rosneft beefs up with TNK-BP purchase | ||
| | |
|work=] | ||
| |first1= Darya | last1= Korsunskaya | |first1= Darya | last1= Korsunskaya | ||
| |first2= Andrew |last2 = Callus | |first2= Andrew |last2 = Callus | ||
| |date= 22 October 2012 | |date= 22 October 2012 | ||
| | |
|access-date= 22 October 2012}} | ||
| </ref> |
</ref> The deal was completed on 21 March 2013.<ref name=reuters220313> | ||
| {{cite news | {{cite news | ||
| | url= |
| url= https://uk.reuters.com/article/uk-rosneft-tnkbp-deal/rosneft-pays-out-in-historic-tnk-bp-deal-completion-idUKBRE92K0IX20130322 | ||
| | archive-url= https://web.archive.org/web/20190104171501/https://uk.reuters.com/article/uk-rosneft-tnkbp-deal/rosneft-pays-out-in-historic-tnk-bp-deal-completion-idUKBRE92K0IX20130322 | |||
| | title= Rosneft finalizes TNK-BP deal, becomes world’s largest oil producer | |||
| | url-status= dead | |||
| | agency = ] | |||
| | date= |
| archive-date= 4 January 2019 | ||
| | accessdate=2013-03-25}} | |||
| </ref><ref name=reuters220313> | |||
| {{cite news | |||
| | url= http://uk.reuters.com/article/2013/03/22/uk-rosneft-tnkbp-deal-idUKBRE92K0IX20130322 | |||
| | title= Rosneft pays out in historic TNK-BP deal completion | | title= Rosneft pays out in historic TNK-BP deal completion | ||
| | |
| work = ] | ||
| | first1 = Vladimir | last1 = Soldatkin | | first1 = Vladimir | last1 = Soldatkin | ||
| | first2 = Andrew | last2 = Callus | | first2 = Andrew | last2 = Callus | ||
| | date= |
| date=22 March 2013 | ||
| | access-date=25 March 2013}} | |||
| | accessdate=2013-03-25}} | |||
| </ref> In 2012, BP acquired an acreage in the ] but these developments plans were cancelled in 2014.<ref name=platts29042014/> | |||
| </ref> | |||
| In 2011–2015, BP cut down its alternative energy business. The company announced its departure from the solar energy market in December 2011 by closing its solar power business, BP Solar.<ref name=reuters211211>{{cite news | work=] | title = BP turns out lights at solar business | url= https://uk.reuters.com/article/us-bp-solar/bp-turns-out-lights-at-solar-business-idUSTRE7BK1CC20111221| archive-url= https://web.archive.org/web/20181205123303/https://uk.reuters.com/article/us-bp-solar/bp-turns-out-lights-at-solar-business-idUSTRE7BK1CC20111221| url-status= dead| archive-date= 5 December 2018| first1 = Tom | last1 = Bergin | first2 = Sarah | last2 = Young | date = 21 December 2011 | access-date=21 December 2011}}</ref> In 2012, BP shut down the ] project which was developed since 2008 to make ] from emerging energy crops like ] and from ].<ref name=sunshine>{{cite news | work= Sunshine State News | title = BP Changes Ethanol Plans in Florida | url= http://www.sunshinestatenews.com/story/bp-changes-ethanol-plans-florida | first1 = Michael | last1 = Peltier | date = 26 October 2012 | access-date=3 November 2012}}</ref><ref name=bfd261012> | |||
| In February 2011, BP formed a partnership with ], taking a 30% stake in a new Indian joint-venture for an initial payment of $7.2 billion.<ref>{{Cite news| url= http://www.nypost.com/p/news/business/bp_announces_partnership_with_india_yE2nehOk1lvfc7TbYVHo0I?CMP=OTC-rss&FEEDNAME= | newspaper = ] | title = BP announces $7.2B partnership with India's Reliance | date=21 February 2011| accessdate = 9 September 2012}}</ref> In September 2012, BP sold its subsidiary BP Chemicals (Malaysia) Sdn. Bhd., an operator of the Kuantan ] in Malaysia, to Reliance Industries for $230 million.<ref name=bl290912> | |||
| {{Cite news | {{Cite news | ||
| |url = http://www.biofuelsdigest.com/bdigest/2012/10/26/the-october-surprise-bp-cancels-plans-for-us-cellulosic-ethanol-plant/ | |||
| |url= http://www.thehindubusinessline.com/companies/article3948855.ece | |||
| |title = The October Surprise: BP Cancels Plans for US Cellulosic Ethanol Plant | |||
| |title= Reliance Global to buy BP’s Malaysian petrochem unit for $230 mn | |||
| |last1 = Lane |first1 = Jim | |||
| |newspaper = ] | |||
| |work= Biofuels Digest | |||
| |date= 29 September 2012 | |||
| | |
|date = 26 October 2012 | ||
| |access-date = 17 September 2017}} | |||
| </ref> In 2015, BP decided to exit from other ] businesses.<ref name=bfd180115> | |||
| {{Cite news | |||
| |url = http://www.biofuelsdigest.com/bdigest/2015/01/18/bps-exit-from-cellulosic-ethanol-the-assets-the-auction-the-process-the-timing-the-skinny/ | |||
| |title = BP's exit from cellulosic ethanol: the assets, the auction, the process, the timing, the skinny | |||
| |last1 = Lane |first1 = Jim | |||
| |work= Biofuels Digest | |||
| |date = 18 January 2015 | |||
| |access-date = 16 September 2017}} | |||
| </ref> It sold its stake in Vivergo to ].<ref name=farmersweekly080515> | |||
| {{Cite news | |||
| |url = http://www.fwi.co.uk/business/bp-sells-vivergo-fuels-stake-abf.htm | |||
| |title = BP sells its Vivergo Fuels stake to ABF | |||
| |last1 = Horne |first1 = Suzie | |||
| |work= Farmers Weekly | |||
| |date = 8 May 2015 | |||
| |access-date = 16 September 2017}} | |||
| </ref> BP and DuPont also mothballed their joint biobutanol pilot plant in Saltend.<ref name=bfd171215> | |||
| {{Cite news | |||
| |url = http://www.biofuelsdigest.com/bdigest/2015/12/17/bp-and-dupont-to-mothball-uk-biobutanol-rd-facility-by-mid-2016/ | |||
| |title = BP and Dupont to mothball UK biobutanol R&D facility by mid-2016 | |||
| |last1 = Sapp |first1 = Meghan | |||
| |work= Biofuels Digest | |||
| |date = 17 December 2015 | |||
| |access-date = 16 September 2017}} | |||
| </ref> | </ref> | ||
| In June 2014, BP agreed to a deal worth around $20 billion to supply ] with liquefied natural gas.<ref name=reuters17062014/> In 2014, ] sold its aviation fuel business to BP. To ensure the approval of competition authorities, BP agreed to sell the former Statoil aviation fuel businesses in ], ], ] and ] airports to ] in 2015.<ref name=ain19082015/> | |||
| By 2013 BP had fallen from the second largest oil company to the fourth after selling off assets to cover Deepwater Horizon oil spill-related payouts.<ref></ref> | |||
| In 2016, BP sold its ], plant to ], of ].<ref name="Blum16">{{cite news |title=BP sells Alabama petrochemical complex to Thai company |last1=Blum |first1=Jordan |url=http://fuelfix.com/blog/2016/01/06/bp-sells-alabama-petrochemical-complex-to-thai-company/ |newspaper=Fuel Fix |date=6 January 2016 |access-date=26 April 2016 |archive-date=29 January 2021 |archive-url=https://web.archive.org/web/20210129055105/https://www.houstonchronicle.com/business/fuelfix/blog/2016/01/06/bp-sells-alabama-petrochemical-complex-to-thai-company/ |url-status=dead }}</ref> At the same year, its Norwegian daughter company BP Norge merged with Det Norske Oljeselskap to form ].<ref name="rigzone300916"> | |||
| {{cite news | |||
| | url = http://www.rigzone.com/news/oil_gas/a/146868/det_norske_completes_merger_with_bp_norge_creates_aker_bp | |||
| | title = Det Norske Completes Merger with BP Norge, Creates Aker BP | |||
| | work= Rigzone | |||
| | date = 30 September 2016 | |||
| | access-date = 10 June 2017}} | |||
| </ref> | |||
| In April 2017, the company reached an agreement to sell its ] in the North Sea to ] for $250 million. The sale included terminals at ] and Kinneil, a site in Aberdeen, and the Forties Unity Platform.<ref>{{cite news|title=BP sells Forties North Sea pipeline to Ineos|url=https://www.bbc.co.uk/news/uk-scotland-scotland-business-39476674|access-date=3 April 2017|work=]|date=3 April 2017}}</ref> In 2017, the company floated its subsidiary BP Midstream Partners LP, a pipeline operator in the United States, at the New York Stock Exchange. In Argentina, BP and ] agreed to merge their interests in Pan American Energy and Axion Energy to form a jointly owned Pan American Energy Group.<ref name=reuters110917>{{cite news|url= https://uk.reuters.com/article/uk-bp-bridas-m-a/bp-in-south-american-venture-with-argentinas-bridas-idUKKCN1BM1F7|archive-url= https://web.archive.org/web/20170911135552/http://uk.reuters.com/article/uk-bp-bridas-m-a/bp-in-south-american-venture-with-argentinas-bridas-idUKKCN1BM1F7|url-status= dead|archive-date= 11 September 2017|title=BP in South American venture with Argentina's Bridas | work=] |date=11 September 2017 |access-date = 26 December 2017}}</ref> | |||
| In 2017, BP invested $200 million to acquire a 43% stake in the solar energy developer Lightsource Renewable Energy, a company which was renamed ].<ref name=bloomberg151217/><ref name=reuters151217/> In March 2017, the company acquired Clean Energy's biomethane business and assets, including its production sites and existing supply contracts.<ref name="Hardcastle17"/> In April 2017, its subsidiary Butamax bought an ] production company Nesika Energy.<ref name=biomass030417/> | |||
| In 2018, the company purchased ]'s shale assets in Texas and Louisiana, including ], for $10.5 billion, which were integrated with its subsidiary BPX Energy.<ref name=denver040220/> Also in 2018, BP bought a 16.5% interest in the Clair field in the UK from ], increasing its share to 45.1%. BP paid £1.3 billion and gave to ConocoPhillips its 39.2% non-operated stake in the ] and satellite oil fields in Alaska.<ref name=energyvoice300419/> In December 2018, BP sold its wind assets in Texas.<ref name=renewablenow261218/> | |||
| In 2018, BP acquired ], which operated the UK's largest electric vehicle charging network.<ref name=electrive200319/> In 2019, BP and ] formed a joint venture to build out electric vehicle charging infrastructure in China. In September 2020, BP announced it will build out a rapid charging network in London for ].<ref name=icis141020/> | |||
| In January 2019, BP discovered {{convert|1|Goilbbl}} oil at its Thunder Horse location in the Gulf of Mexico. The company also announced plans to spend $1.3 billion on a third phase of its Atlantis field near New Orleans.<ref>{{Cite web|url=https://www.cnbc.com/2019/01/08/bp-just-discovered-a-billion-barrels-of-oil-in-gulf-of-mexico.html|title=BP just discovered a billion barrels of oil in Gulf of Mexico|last=DiChristopher|first=Tom|date=8 January 2019|website=www.cnbc.com|access-date=8 January 2019}}</ref> | |||
| === 2020 to present === | |||
| ] succeeded Carl-Henric Svanberg on 1 January 2019 as chairman of BP Plc board of directors,<ref name=bp280418>{{cite press release|url=https://www.bp.com/en/global/corporate/news-and-insights/press-releases/helge-lund-to-suceed-carl-henric-svanberg-as-chairman.html |title=Helge Lund to succeed Carl-Henric Svanberg as BP chairman |publisher=BP | date = 28 April 2018 |access-date=21 March 2019}}</ref> and ] succeeded Bob Dudley on 5 February 2020 as chief executive.<ref name="LooneyCEO">{{cite news |title=New BP boss Bernard Looney pledges net-zero emissions by 2050 |work=] |url=https://www.ft.com/content/e1ee8ab4-4d89-11ea-95a0-43d18ec715f5 |last1=Raval |first1=Anjli |date=12 February 2020 |access-date=12 February 2020}}</ref> Amidst the ], BP claimed that it would "accelerate the transition to a lower carbon economy and energy system" after announcing that the company had to write down $17.5 billion for the second quarter of 2020.<ref>{{Cite web|url=https://www.barrons.com/articles/bp-takes-up-to-17-5-billion-writedown-and-lowers-30-year-oil-price-forecast-heres-what-it-means-51592235645|title=BP Takes Up To $17.5 Billion Writedown and Lowers 30-Year Oil Price Forecast. Here's What It Means|first=Callum|last=Keown|website=www.barrons.com}}</ref> | |||
| On 29 June 2020, BP sold its petrochemicals unit to ] for $5 billion. The business was focused on ] and ]s. It had interests in 14 plants in Asia, Europe and the U.S., and achieved production of 9.7 million metric tons in 2019.<ref>{{Cite news|title=BP sells petrochemicals unit to INEOS for $5B|url=https://www.marketwatch.com/story/bp-sells-petrochemicals-unit-to-ineos-for-5b-2020-06-29|access-date=29 June 2020}}</ref> On 30 June 2020, BP sold all its Alaska upstream operations and interests, including interests in ], to ] for $5.6 billion.<ref name=reuters270819/><ref name=adn300620/> On 14 December 2020, it sold its 49% stake in the ] to Harvest Alaska.<ref name=hbj181220/><ref name=rigzone231220/> | |||
| ]]] | |||
| In September 2020, BP formed a partnership with Equinor to develop offshore wind and announced it will acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms. The deal is expected to be completed at the first half of 2021.<ref name=reuters100920/> In December 2020, BP acquired a majority stake in Finite Carbon, the largest forest ]s developer in the United States.<ref name=reuters161220/> | |||
| In response to the ], BP announced that it would sell its 19.75% stake in Rosneft, although no timeline was announced.<ref>{{cite news | url= https://www.bbc.co.uk/news/business-60548382|title=BP to offload stake in Rosneft amid Ukraine conflict|publisher=]|date=27 February 2022|access-date=27 February 2022}}</ref> At the time of BP's decision, Rosneft's activities accounted for around half of BP's oil and gas reserves and a third of its production.<ref>{{Cite news |last1=Bousso |first1=Ron |last2=Zhdannikov |first2=Dmitry |date=27 February 2022 |title=BP retreats from Russia's Rosneft at cost of $25 bln over Ukraine invasion |language=en |work=]|url=https://www.reuters.com/business/energy/britains-bp-says-exit-stake-russian-oil-giant-rosneft-2022-02-27/ |access-date=27 February 2022}}</ref> BP's decision came after the British government expressed concern about BP's involvement in Russia.<ref>{{Cite news |last=Strasburg |first=Max Colchester and Jenny |date=25 February 2022 |title=BP Faces Pressure From U.K. Government Over Stake in Russia's Rosneft |language=en-US |work=] |url=https://www.wsj.com/articles/bp-faces-pressure-from-u-k-government-over-stake-in-russias-rosneft-11645817245 |access-date=27 February 2022 |issn=0099-9660}}</ref><ref>{{Cite web |date=25 February 2022 |title=BP's ties to Russia draw UK government 'concern' |url=https://www.theguardian.com/business/2022/feb/25/bps-ties-to-russia-draw-uk-government-concern |access-date=27 February 2022 |website=] |language=en}}</ref> However, BP remained a Rosneft shareholder throughout the whole 2022 year, which caused some criticism from the Ukrainian president's office.<ref>{{cite news|url=https://www.bbc.com/news/63821028 | title=BP 'stands to receive blood money' from Ukraine war | date=2 December 2022 | publisher=] |access-date=2 December 2022 }}</ref> | |||
| In October 2022, BP announced that it would be acquiring Archaea Energy Inc., a renewable natural gas producer, for $4.1 billion.<ref>{{Cite news |last1=Bousso |first1=Ron |last2=Soni |first2=Ruhi |date=17 October 2022 |title=BP to buy U.S. biogas producer Archaea for $4.1 bln |language=en |work=]|url=https://www.reuters.com/markets/deals/archaea-energy-be-bought-by-bp-41-bln-including-debt-2022-10-17/ |access-date=17 October 2022}}</ref> In December 2022, it was announced BP had completed the acquisition of Archaea Energy Inc. for $3.3 billion.<ref>{{Cite web |title=TOP NEWS: BP completes USD3.3 billion acquisition of Archaea Energy {{!}} Financial News |url=https://www.lse.co.uk/news/top-news-bp-completes-usd33-billion-acquisition-of-archaea-energy-mbfybrzhf006ql2.html |access-date=29 December 2022 |website=www.lse.co.uk |language=en}}</ref> 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 ].<ref>{{cite news|url=https://www.bbc.com/news/business-63468313 | title=BP sees huge profit due to high oil and gas prices | date=November 2022 | publisher=] |access-date=1 November 2022}}</ref> | |||
| In February 2023, BP reported record annual profits, on a replacement cost basis, for the year 2022. On that basis, 2022 profits were more than double than in 2021, and they were also the biggest profits in the whole 114-year long history of BP.<ref>{{cite news|url=https://www.bbc.com/news/business-64544110 | title=BP sees biggest profit in 114-year history after oil and gas prices soar | date=7 February 2023 | publisher=] |access-date=7 February 2023}}</ref> | |||
| After 10 years of force majeure, BP, ] and ] resumed exploration in their blocks in the Ghadames Basin (A-B) and offshore Block C in August 2023, continuing their contract obligations.<ref>{{Cite web |title=BP, Sonatrach and ENI resume operations in Libya |url=https://www.theafricareport.com/317982/bp-sonatrach-and-eni-resume-operations-in-libya/ |access-date=2023-10-24 |website=The Africa Report.com |language=en}}</ref><ref>{{Cite news |date=2023-08-03 |title=Libya's NOC says ENI, BP, Sonatarch to lift force majeure and resume activities |language=en |work=Reuters |url=https://www.reuters.com/business/energy/libyas-noc-says-eni-bp-sonatarch-lift-force-majeure-resume-activities-2023-08-03/ |access-date=2023-10-24}}</ref> | |||
| BP increased its ] by 10% year-on-year in early 2024 and accelerated share buybacks. It has already announced $1.75 billion before reporting first quarter results and intends to announce a $3.5 billion share buyback in the first half of the year.<ref>{{Cite web|language=en|url=https://www.cnbc.com/2024/02/06/bp-earnings-q4-and-fy-2023.html|title=Oil major BP accelerates pace of share buybacks even as full-year profit slides over 50%|website=CNBC|date=6 February 2024 |access-date=2024-02-08|archive-date=2024-02-06|archive-url=https://web.archive.org/web/20240206073645/https://www.cnbc.com/2024/02/06/bp-earnings-q4-and-fy-2023.html}}</ref> | |||
| ] became CEO in January 2024.<ref>{{cite news|url=https://www.bbc.co.uk/news/articles/cw0zj77e145o|title=New BP boss gets £8m pay packet in 2023|newspaper=BBC News|date=8 March 2024|access-date=15 April 2024}}</ref> | |||
| In June 2024, BP announced the acquisition of Bunge Bioenergia from ] for {{USD}}1.4 billion. The purchase will increase BP's ethanol production to 50,000 barrels per day.<ref>{{cite news |title=BP to Take Control of Brazilian Biofuels JV in $1.4 Billion Deal |work=The Wall Street Journal |date=20 June 2024 |access-date=20 June 2024 |last1=Walker |first1=Ian |url=https://www.wsj.com/business/energy-oil/bp-to-take-control-of-brazilian-biofuels-jv-in-1-4-billion-deal-e8eb172a}}</ref><ref>{{cite news |last1=Mann |first1=Richard |title=BP Acquires Full Control of Bioenergy Venture in Brazil for $1.4 Billion |url=https://www.riotimesonline.com/bp-acquires-full-control-of-bioenergy-venture-in-brazil-for-1-4-billion/ |access-date=20 June 2024 |work=The Rio Times |date=20 June 2024}}</ref><ref>{{cite news |title=BP to buy out Bunge's stake in Brazilian biofuels JV in $1.4 bln deal |last1=Bousso |first1=Ron |last2=Bose |first2=Sourasis |work=Reuters |date=June 20, 2024 |access-date=July 15, 2024 |url=https://www.reuters.com/markets/deals/bp-buy-out-bunges-stake-brazilian-biofuels-jv-14-bln-deal-2024-06-20/}}</ref> | |||
| In November 2024, BP and partners announced its plan to invest $7 billion to a carbon capture and gas field development in Indonesia’s Papua region that has the potential of almost 3 trillion cubic feet of gas resource. Production plans are expected to start in 2028 in the Ubadari field.<ref>{{Cite web |date=November 22, 2024 |title=BP and partners to invest $7 billion in carbon capture project in Indonesia's Papua |url=https://www.reuters.com/business/energy/bp-partners-invest-7-billion-carbon-capture-project-indonesias-papua-2024-11-22/}}</ref> | |||
| ==Logo evolution== | |||
| <gallery> | |||
| Bp logo1920.png|1920–1930 | |||
| Bp logo1930.png|1930–1947 | |||
| Bp logo1947.png|1947–1961 | |||
| Bp logo1961.png|1961–1989 | |||
| Bp logo89.svg|1989–2000 | |||
| BP Helios logo.svg|2000–present | |||
| </gallery> | |||
| ==Operations== | ==Operations== | ||
| ] Headquarters, built by the Bowmer and Kirkland group at a cost of £50 million]] | |||
| ], ], ]]] | |||
| {{As of|2018|12|31}}, BP had operations in 78 countries worldwide<ref name="AR18-glance"/> with the global headquarters in London, United Kingdom. BP operations are organized into three business segments, ], ], and ].<ref name="AR18-segments"/> | |||
| BP has operations in around 80 countries worldwide.<ref name="NYSE2012">{{cite web |url=http://www.nyse.com/listed/bp.html |title=BP plc. |publisher=New York Stock Exchange |accessdate=21 June 2012}}</ref> BP's global headquarters are located in the ] area of London, United Kingdom and its exploration headquarters are located in Houston, United States.<ref name="YahooFinance2012">{{cite web |url=http://finance.yahoo.com/q/pr?s=BP+Profile |title=BP Profile |publisher=Yahoo! Finance |accessdate=7 June 2012}}</ref><ref name="PetroleumEconomist2010">{{cite news |title=BP on the mend, but recuperation will take time |url=http://www.petroleum-economist.com/Article/2730878/BP-on-the-mend-but-recuperation-will-take-time.html |newspaper=] |date=28 October 2010 |accessdate=15 May 2012|id={{required subscription}}}}</ref> As of January 2012, the company had a total of 83,400 employees.<ref name="GoogleFinance2012">{{cite web |url=http://www.google.com/finance?q=NYSE:BP |title=BP: Summary |publisher=Google Finance |accessdate=6 June 2012}}</ref><ref name="AnnualReport2011">{{Cite report |date=6 March 2012 |title=Annual Report and Form 20-F 2011 |url=http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/bpin2011/downloads/BP_Annual_Report_and_Form_20F_2011.pdf |publisher=BP |accessdate=6 June 2012}}</ref> BP operations are organised into three main "business segments": ], ], and BP Alternative Energy.<ref name="AnnualReport2011"/><ref name="GroupOrganization2012">{{cite web |url=http://www.bp.com/subsection.do?categoryId=11&contentId=2001810 |title=Group organization |date=18 June 2012 |publisher=BP |accessdate=18 June 2012}}</ref> | |||
| Since 1951, BP has annually published its ''Statistical Review of ]'', which is considered an energy industry benchmark.<ref name=reuters120613/> | |||
| ===Operations by location=== | ===Operations by location=== | ||
| ====United Kingdom |
==== United Kingdom ==== | ||
| ], United Kingdom]] | |||
| {{As of|2011}} the company employs more than 15,000 people in the UK and Ireland, or about 20% of its total workforce.<ref name="BPSustainabilityPrior">{{cite web |url=http://www.bp.com/sectiongenericarticle800.do?categoryId=9040263&contentId=7073464 |title=Our priorities for managing our people |work=Our priorities |publisher=BP |accessdate=12 July 2012}}</ref><ref name=autogenerated2>{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9023227&contentId=7043186 |title=UK: Welcome |publisher=BP |accessdate=19 June 2012}}</ref> Its ] operations are headquartered in ], ], where it employs around 3,000 people.<ref name="Forsyth2010">{{cite news |title=BP will retain significant presence in North Sea, says operations chief |first=Ian |last=Forsyth |url=http://www.pressandjournal.co.uk/Article.aspx/1845420 |newspaper=Aberdeen Press and Journal |date=28 July 2010 |accessdate=7 July 2012}}</ref> | |||
| ] near ], United Kingdom]] | |||
| BP operates more than 40 offshore oil and gas fields, four onshore terminals and a pipeline network that transports around 50 percent of the oil and gas produced in the UK, according to the company.<ref name=Wachman>{{cite news |title=BP to expand North Sea oil fields |first=Richard |last=Wachman |url=http://www.guardian.co.uk/business/2011/oct/13/bp-shetland-oil-drilling-environmentalists |work=The Guardian |date=13 October 2011 |accessdate=19 June 2012}}</ref><ref>{{cite web |url=http://www.bp.com/extendedsectiongenericarticle.do?categoryId=9040724&contentId=7074144 |title=On the up for BP's North Sea business |year=2012 |work=BP Magazine |publisher=BP |accessdate=22 July 2012}}</ref> {{As of|2011}}, BP had produced 5 billion barrels of oil and gas equivalent in the North Sea<ref name="Zacks2011">{{cite news |title=U.K. Nod for BP Clair Ridge |url=http://www.zacks.com/stock/news/62794/uk-nod-for-bp-clair-ridge |work=Zacks Investment Research |date=17 October 2011 |accessdate=10 July 2012}}</ref> and its current level of production is about 200,000 barrels per day,<ref name="Bawden2011">{{cite news |title=BP to pump £4.5bn into North Sea projects |author=Tom Bawden |url=http://www.independent.co.uk/environment/green-living/bp-to-pump-45bn-into-north-sea-projects-2370250.html |newspaper=The Independent |date=14 October 2011 |accessdate=10 July 2012}}</ref><ref name="BPUK">{{cite web |url=http://www.bp.com/extendedsectiongenericarticle.do?categoryId=9041307&contentId=7074696 |title=BP activities in the UK |publisher=BP |accessdate=10 July 2012}}</ref> BP has invested more than £35 billion in the North Sea since the 1960s, and in 2012 announced its plans to invest another £10 billion over the next five years, with six major projects in the UK and Norway under development.<ref name="Forsyth2010"/><ref name=Swint2011>{{cite news |title=BP, Shell, Conoco Get Approval For Clair Ridge In North Sea |author=Brian Swint |url=http://www.bloomberg.com/news/2011-10-13/bp-and-partners-to-invest-10-billion-pounds-in-four-projects.html |work=Bloomberg |date=13 October 2011 |accessdate=27 June 2012}}</ref> | |||
| BP has a major corporate campus in ] which is home to around 3,500 employees and over 50 business units.<ref name="BP-Sunbury">{{cite web |url=http://www.bp.com/en_gb/united-kingdom/where-we-operate/sunbury.html |title=ICBT Sunbury |publisher=BP |access-date=9 August 2017}}</ref> Its ] operations are headquartered in ], ]. BP's trading functions are based at ] in ], London. BP has three major research and development centres in the UK.<ref name=commons2012/> | |||
| As of 2020, and following the sale of its Andrew and Shearwater interests, BP's operations were focussed in the ], Quad 204 and ] hubs.<ref>{{cite web|url=https://www.worldoil.com/news/2020/1/7/bp-reshapes-its-uk-north-sea-portfolio-with-625-million-asset-sale|title=BP reshapes its UK North Sea portfolio with $625 million asset sale|date=1 July 2020|publisher=World Oil|access-date=27 December 2020}}</ref> In 2011, the company announced that it is focusing its investment in the UK North Sea into four development projects including the Clair, Devenick, ], and Kinnoull oilfields.<ref name=Swint2011>{{cite news |title= BP cleared to develop £4.5bn North Sea oilfield |url= https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8824186/BP-cleared-to-develop-4.5bn-North-Sea-oilfield.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8824186/BP-cleared-to-develop-4.5bn-North-Sea-oilfield.html |archive-date=11 January 2022 |url-status=live | newspaper=] |date=13 October 2011 |access-date= 17 September 2017|url-access=subscription}}{{cbignore}}</ref> BP is the operator of the Clair oilfield, which has been appraised as the largest hydrocarbon resource in the UK.<ref name="Bawden2011">{{cite news |title=BP to pump £4.5bn into North Sea projects |author=Tom Bawden |url=https://www.independent.co.uk/environment/green-living/bp-to-pump-45bn-into-north-sea-projects-2370250.html |newspaper=] |date=14 October 2011 |access-date=10 July 2012 |location=London}}</ref> | |||
| There are 1,200 BP service stations in the UK.<ref name="Gosden16"/><ref name="BP-UK"/> Since 2018 BP operates the UK's largest ] charging network through its subsidiary ] (formerly Chargemaster).<ref name="AR18-glance"/> | |||
| In ] near ], BP operates a petrochemicals plant that produces ] and ] used in the production of pharmaceuticals, textiles and other chemical products.<ref name="BPUK"/><ref name="ICIS2007">{{cite news |title=EPCA '07: BP to debottleneck Hull acetic acid unit |author=Florence Tan |url=http://www.icis.com/Articles/2007/09/30/9066346/epca-07-bp-to-debottleneck-hull-acetic-acid-unit.html |publisher=ICIS.com |date=30 September 2009 |accessdate=10 July 2012}}</ref> At the same location, the company operates a ] technology demonstration plant in partnership with ], which uses feedstocks such as wheat to produce ].<ref name="BPBiofuel">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030044&contentId=7055172 |title=Advanced biofuels |publisher=BP |accessdate=10 July 2012}}</ref> The company is also preparing to start production at a ] plant in Hull, developed with ] and DuPont.<ref name="Ruitenberg2012">{{cite news |title=Vivergo Ethanol Plant in U.K. Gets Wheat, Frontier Says |author=Rudy Ruitenberg |url=http://www.businessweek.com/news/2012-04-10/vivergo-ethanol-plant-in-u-dot-k-dot-gets-wheat-frontier-says |work=Bloomberg BusinessWeek |date=10 April 2012 |accessdate=10 July 2012}}</ref><ref name="Spackman2012">{{cite news |title=Cereals 2012: Bioethanol plant on track for summer start |author=Paul Spackman |url=http://www.fwi.co.uk/Articles/15/06/2012/133440/Cereals-2012-Bioethanol-plant-on-track-for-summer-start.htm |work=Farmers Weekly |date=15 June 2012 |accessdate=10 July 2012}}</ref> | |||
| In February 2020, BP announced a Joint Venture with ] to develop and operate 3GW off Offshore Wind capacity in the ] Leasing Round 4.<ref>{{Cite news|last=Twidale|first=Susanna|date=8 February 2021|title=RWE, Total, BP among winners in UK offshore wind farm auction|language=en|work=]|url=https://www.reuters.com/article/us-britain-windpower-auction-idINKBN2A80RN|access-date=18 February 2021}}</ref> This is BP's first move into ], however, BP currently provides a range of services to the Offshore Wind sector in the UK through its subsidiary ONYX InSight who provide a range of ] and Engineering Consultancy services to the sector.<ref>{{Cite news|date=23 January 2020|title=BP's unicorn seeker not afraid to back the occasional wrong horse - News for the Oil and Gas Sector|language=en-US|work=Energy Voice|url=https://www.energyvoice.com/renewables-energy-transition/219707/bps-unicorn-seeker-not-afraid-to-back-the-occasional-wrong-horse/|access-date=18 February 2021}}</ref> | |||
| BP has a major corporate campus in ] which is home to around 4,500 employees and over 40 business units.<ref name=uklocat>{{cite web|url=http://www.bp.com/sectiongenericarticle.do?categoryId=9009668&contentId=7018480|title=Locations|accessdate=6 July 2012|publisher=BP}}</ref> BP's trading functions are based at ] in ], London, where around 2,200 employees are based.<ref name=uklocat/> BP also has three research and development facilities in the UK.<ref name="AnnualReport2011"/> | |||
| In February 2022, BP announced it acquired a 30% stake in the ]-based company, Green Biofuels Ltd, a producer of ] fuels that can be used as a direct replacement for diesel.<ref>{{Cite web|title=BP acquires 30% stake in UK producer of hydrogenated vegetable oil|url=https://www.autocar.co.uk/car-news/business-environment-and-energy/bp-acquires-30-stake-uk-producer-hydrogenated-vegetable-oil|access-date=3 February 2022|website=Autocar|language=en}}</ref> | |||
| Retail sites operated by BP in the UK include over 1,100 ].<ref name="BPServiceStations">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=4502840&contentId=50195 |title=BP Service Stations: About the BP network |publisher=BP |archiveurl=http://web.archive.org/web/20120816010326/http://www.bp.com/sectiongenericarticle.do?categoryId=4502840&contentId=50195 |archivedate=16 August 2012 |accessdate=12 February 2013}}</ref> Its flagship retail brand is ], a chain of service stations combined with a ] and a ] called the "Wild Bean Cafe".<ref name="TalkingRetail2005">{{cite news |title=Store Level: BP Connect |url=http://www.talkingretail.com/news/industry-news/store-level-bp-connect |work=Talking Retail |date=24 February 2005 |accessdate=10 July 2012}}</ref><ref name="Addy2004">{{cite news |title=Connect stores outstrip BP forecasts |author=Rod Addy |url=http://www.thegrocer.co.uk/topics/connect-stores-outstrip-bp-forecasts/94856.article |work=The Grocer |date=3 July 2004 |accessdate=10 July 2012}}</ref> More than 120 BP Connect sites in the UK are run in partnership with ] and include an onsite ] shop.<ref name="M&SConnect">{{cite web |url=http://www.bp.com/retail/sectiongenericarticle.do?categoryId=9036797&contentId=7067920 |title=M&S Simply Food at BP Connect |publisher=BP |accessdate=10 July 2012}}</ref> | |||
| ====United States==== | ====United States==== | ||
| ], ]]] | ], ]]] | ||
| ]'' semi-submersible oil platform in the ]]] | ]'' semi-submersible oil platform in the ]]] | ||
| The United States operations comprise nearly one-third of BP's operations.<ref name="NYTBusiness2012">{{cite news |title=BP Plc. |url= https://www.nytimes.com/topic/company/bp-plc |newspaper=The New York Times |date=2 May 2012 |access-date=7 June 2012 |first=Emma G. |last=Fitzsimmons}}</ref> BP employs approximately 14,000 people in the United States.<ref name="AR18-USlabour"/> In 2018, BP's total production in the United States included {{convert|385000|oilbbl/d}} of oil and {{convert|1.9|e9cuft/d|abbr=off}} of natural gas,<ref name="AR18-USproduction"/> and its refinery throughput was {{convert|703000|oilbbl/d}}.<ref name="AR18-USrefinery"/> | |||
| ]]] | |||
| BP's operations in the United States comprise nearly one third of its worldwide business interests,<ref name="NYTBusiness2012">{{cite news |title=BP Plc. |url=http://topics.nytimes.com/top/news/business/companies/bp_plc/index.html |newspaper=The New York Times |date=2 May 2012 |accessdate=7 June 2012}}</ref> with more investment and employees than any other nation.<ref name=autogenerated3>{{cite news |title=BP enters shale oil quest in Ohio |url=http://www.upi.com/Business_News/Energy-Resources/2012/03/27/BP-enters-shale-oil-quest-in-Ohio/UPI-94691332873030/ |agency=United Press International |date=27 March 2012 |accessdate=6 August 2012}}</ref><ref name="BPUS">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=488&contentId=2000734 |title=BP in the United States |publisher=BP |accessdate=6 August 2012}}</ref> The company employs approximately 23,000 people in the US, where it has invested over $52 billion in energy development since 2007.<ref name="USNumbers2012">{{cite web |url=http://www.bp.com/extendedsectiongenericarticle.do?categoryId=9040846&contentId=7074165 |title=BP's presence in the US |year=2012 |work=BP Magazine |publisher=BP |accessdate=12 June 2012}}</ref> In the US, BP is the second-largest producer of oil and gas.<ref name="Subramanian2011">{{cite news |title=While BP Eyes Return to the Gulf, Safeguards Debated |author=Courtney Subramanian |url=http://news.nationalgeographic.com/news/energy/2011/04/110429-/offshore-drilling-safety-whats-changed/ |work=National Geographic |date=29 April 2011 |accessdate=19 June 2012}}</ref><ref name="Lefebrvre2012">{{cite news |title=BP, Apache Evacuate Nonessential Staff From U.S. Gulf as Storm Nears |author=Ben Lefebrve |url=http://www.4-traders.com/CONOCOPHILLIPS-13929/news/Oil-Producers-Evacuate-Nonessential-Staff-From-U-S-Gulf-as-Storm-Nears-14383655/ |work=4-Traders.com |publisher=Dow Jones Newswires |date=23 June 2012 |accessdate=27 June 2012}}</ref> The company's US operations include assets acquired from its merger with Amoco in 1998, including two of its refineries, and its merger with ARCO in 2000.<ref name="Brierley">{{cite news |title=BP strikes it rich in America |author=David Brierley |url=http://www.independent.co.uk/news/business/bp-strikes-it-rich-in-america-1084972.html |work=The Independent |date=4 April 1999 |accessdate=28 August 2012}}</ref><ref name="BBCNews2000">{{cite news |title=Green light for BP-Arco merger |url=http://news.bbc.co.uk/2/hi/business/712962.stm |publisher=BBC News |date=14 April 2000 |accessdate=28 August 2012}}</ref> | |||
| BP's major subsidiary in the United States is BP America, Inc. (formerly: Standard Oil Company (Ohio) and ]) based in ].<ref name=biz030513/> BP Exploration & Production Inc., a 1996 established Houston-based subsidiary, is dealing with oil exploration and production.<ref name=bpexploration/> BP Corporation North America, Inc., provides petroleum refining services as also transportation fuel, heat and light energy.<ref name=bpcorporation/> BP Products North America, Inc., a 1954 established Houston-based subsidiary, is engaged in the exploration, development, production, refining, and marketing of oil and natural gas.<ref name=bpproduct/> BP America Production Company, a ]-based subsidiary, engages in oil and gas exploration and development.<ref name=bpproduction/> BP Energy Company, a Houston-based subsidiary, is a provider of natural gas, power, and risk management services to the industrial and utility sectors and a retail electric provider in Texas.<ref name=bpenergy/> | |||
| BP's major subsidiary in the United States is BP America, Inc. based in ], which is a parent company for the BP's operations in the United States.<ref name=bpamerica> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=3120907 | |||
| | title= Company Overview of BP America, Inc. | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref> BP Exploration & Production Inc., a 1996 established Houston-based company, is dealing with oil exploration and production, including Gulf of Mexico activities.<ref name=bpexploration> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=10006787 | |||
| | title= Company Overview of BP Exploration & Production Inc. | |||
| | work = ] | |||
| | accessdate= 3 Novemb er 2012}} | |||
| </ref> BP Corporation North America, Inc., a 1889 established Warrenville-based company, provides petroleum refining services as also transportation fuel, heat and light energy, and petrochemical products.<ref name=bpcorporation> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=169582 | |||
| | title= Company Overview of BP Corporation North America, Inc. | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref> BP Products North America, Inc., a 1954 established Houston-based company, is engaged in the exploration, development, production, refining, and marketing of oil and natural gas.<ref name=bpproduct> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4224618 | |||
| | title= Company Overview of BP Products North America, Inc. | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref> BP America Production Company, a 1930 established ]-based company, is engages in oil and gas exploration and development.<ref name=bpproduction> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=2414356 | |||
| | title= Company Overview of BP America Production Company | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref> BP Energy Company, a 1985 established Houston-based company, is a provider of natural gas, power, and risk management services to the industrial and utility sectors and a retail electric provider in Texas.<ref name=bpenergy> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4368224 | |||
| | title= Company Overview of BP Energy Company | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref> | |||
| BP's upstream activities in the Lower 48 states are conducted through Denver-based BPX Energy.<ref name=denver040220/> It has a {{convert|7.5|Goilbbl|abbr=off}} resource base on {{convert|5.7|e6acre}}.<ref name=OGJ15>{{cite news |title=BP's US Lower 48 unit buys Devon's New Mexico assets |url= https://www.ogj.com/articles/2015/12/bp-s-lower-48-unit-buys-devon-s-new-mexico-assets.html |newspaper = ] |date=18 December 2015 |access-date=5 April 2016}}</ref> It has ] in the ], ], and ] shales.<ref name="Pulsinelli2014"/><ref name="Rouan2012"/> It has ] (] or ]) stakes also in Colorado, ] and Wyoming, primarily in the ].<ref name="Hasterok2012"/><ref name="ZacksJun2012"/><ref name="BPUSExploration"/> | |||
| In the deepwater Gulf of Mexico, BP is the largest producer of oil and gas.<ref name="Lefebrvre2012"/> The company operates four out of the seven largest drilling platforms in the region.<ref name="Lefebrvre2012"/> {{As of|2012}} BP has oil and gas production in the Gulf from fields including ], ], Na Kika, and ]. The company also holds stakes in fields operated by other companies, including the ], ], and Great White fields. It also owns corrupted ].<ref name=ogj100912> | |||
| {{cite news | |||
| | url= http://www.ogj.com/articles/2012/09/plains-ep-to-buy-gulf-of-mexico-assets-from-bp-shell.html | |||
| | title= Plains E&P to buy Gulf of Mexico assets from BP, Shell | |||
| | first = Paula | last = Dittrick | |||
| | newspaper = ] | |||
| | publisher = ] | |||
| | date= 10 September 2012 | |||
| | accessdate= 10 September 2012}} | |||
| </ref> The company produces over 200,000 barrels of oil and gas equivalent per day in the region.<ref name="Helman2012">{{cite news |title=Two Years After The Spill, BP Has A Secret: It's Booming |author=Christopher Helman |url=http://www.forbes.com/forbes/2012/0507/global-2000-12-europe-bob-bp-booming.html |newspaper=Forbes |date=7 May 2012 |accessdate=23 July 2012}}</ref> In December 2011, BP acquired 11 newly available leases for resource exploration rights to areas of federal waters in the Gulf and in June 2012 was the high bidder on 43 further leases in the central region of the Gulf.<ref name="NYTBusiness2012"/><ref name="Klimasinska2012">{{cite news |title=BP Wins Oil Leases in U.S. Gulf of Mexico Near Spill Site |author=Katarzyna Klimasinska |url=http://www.businessweek.com/news/2012-06-20/chevron-among-48-bidders-seeking-u-dot-s-dot-leases-near-bp-spill-site |work=Bloomberg BusinessWeek |date=20 June 2012 |accessdate=30 July 2012}}</ref> The company is the largest leaseholder in the deepwater Gulf of Mexico.<ref name="Subramanian2011"/><ref name="BPGulfofMexico">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030197&contentId=7055755 |title=Deepwater Gulf of Mexico |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> | |||
| {{As of|2019}}, BP produced about {{convert|300000|oilbbl/d}} of oil equivalent in the ].<ref name=Ault19>{{cite news |title=BP to boost Gulf of Mexico spending as shale-focused rivals pull back |last=Resnick-Ault |first=Jessica |url=https://www.reuters.com/article/us-bp-oil-gulfmexico/bp-to-boost-gulf-of-mexico-spending-as-shale-focused-rivals-pull-back-idUSKCN1SC12F |work=] |date=6 May 2019 |access-date=3 July 2019}}</ref> BP operates the ], ], Na Kika, and ] production platforms while holding interest in hubs operated by other companies.<ref name="Ambrose17">{{cite news |title=BP starts up new $1bn Gulf of Mexico project almost one year early |last1=Ambrose |first1=Jillian |url=https://www.telegraph.co.uk/business/2017/01/23/bp-starts-new-1bn-gulf-mexico-project-almost-one-year-early/ |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/business/2017/01/23/bp-starts-new-1bn-gulf-mexico-project-almost-one-year-early/ |archive-date=11 January 2022 |url-status=live |newspaper=] |date=23 January 2017 |access-date=25 May 2018|url-access=subscription}}{{cbignore}}</ref><ref name="BP-Gulf">{{cite web |url=https://www.bp.com/en_us/bp-us/what-we-do/exploration-and-production/deepwater-gulf-of-mexico.html |title=Gulf of Mexico |publisher=BP |access-date=25 May 2018}}</ref> In April 2023, BP launched a new oil rig, the ''Argos'', in the Gulf.<ref>{{cite news |last1=Drane |first1=Amanda |title=BP's Argos platform begins producing oil in the Gulf of Mexico |url=https://www.houstonchronicle.com/business/energy/article/bp-gulf-offshore-argos-platform-oil-production-17894070.php |access-date=7 June 2023 |work=Houston Chronicle |date=13 April 2023}}</ref> | |||
| BP has operated in ] since 1959, and in 2012 operates 13 oil fields and four pipelines in the ]. The company also owns a "significant" share in six additional fields<ref name="AOGA">{{cite web |url=http://www.aoga.org/about/member-companies/ |title=Member Companies |year=2011 |publisher=Alaska Oil and Gas Association |accessdate=23 July 2012}}</ref> and is the largest owner of the 800-mile long ].<ref name="AOGA"/><ref name="Hollander2012">{{cite news |title=Following North Slope Crude: From the ground to the gas station |author=Zaz Hollander |url=http://www.akbizmag.com/Alaska-Business-Monthly/May-2012/Following-North-Slope-Crude-From-the-ground-to-the-gas-station/?utm |work=Alaska Business Monthly |date=May 2012 |accessdate=21 June 2012}}</ref> BP operates about two-thirds of all North Slope production.<ref name="AKRDC">{{cite web |url=http://www.akrdc.org/newsletters/2011/december/declinewillcontinue.html |title=North Slope oil Producers: Decline will continue without meaningful tax reform |author=Carl Portman |date=December 2011 |publisher=akrdc.org |accessdate=8 August 2012}}</ref> | |||
| BP operates ] in Indiana<ref name="BPUSRefining">{{cite web|url= http://www.bp.com/en_us/bp-us/what-we-do/refining.html |title=United States: Refining |publisher=BP |access-date=17 September 2017}}</ref> and ] in Washington.<ref name="BPUSRefining"/> It formerly co-owned and operated a refinery in Toledo, Ohio, with ], but sold its stake in the refinery in February 2023 to ].<ref>{{cite news |last1=Skebba |first1=Jay |title=BP sells remaining 50% stake in Toledo refinery to Cenovus for $300M |url=https://www.wtol.com/article/money/business/bp-sells-remaining-50-stake-toledo-refinery-to-cenovus/512-b099f0d5-8797-4430-b4a9-f7a776eada5e |access-date=7 June 2023 |work=WTOL |date=8 August 2022}}</ref><ref>{{cite news |last1=Krishna |first1=Rithika |title=Cenovus to buy remaining 50% stake in Toledo refinery from BP |url=https://www.reuters.com/business/energy/cenovus-buy-remaining-50-stake-toledo-refinery-bp-2022-08-08/ |access-date=7 June 2023 |work=Reuters |date=8 August 2022 |language=en}}</ref><ref>{{cite news |title=Company acquires full ownership of former bp-Husky Toledo Refinery |url=https://www.13abc.com/2023/02/28/company-acquires-full-ownership-bp-husky-toledo-refinery/ |access-date=7 June 2023 |work=WTVG |date=28 February 2023 |language=en}}</ref> | |||
| In the lower 48 states, BP has a presence in seven of the top gas basins and in 2011 produced more than {{convert|1800|e6cuft/d|abbr=off}} of natural gas.<ref name="ZacksJun2012">{{cite news |title=BP to Sell Wyoming Assets |url=http://www.zacks.com/stock/news/77737/bp-to-sell-wyoming-assets |work=Zacks Equity Research |date=26 June 2012 |accessdate=31 July 2012}}</ref> The company is the country's sixth largest natural gas producer with a total of 10,000 wells.<ref name="Downing21012">{{cite news |title=British Petroleum takes stage in Ohio shale |author=Bob Downing |url=http://www.ohio.com/news/break-news/british-petroleum-takes-stage-in-ohio-shale-1.285245 |publisher=ohio.com |date=27 March 2012 |accessdate=18 June 2012}}</ref> Its North America Gas division has ] in the ], ], ] and ] shales. In March 2012, BP announced that it had acquired a lease for gas exploration of the ] in ].<ref name="Gebrekidan2012">{{cite news |title=UPDATE 2-BP to lease land in Ohio's Utica shale |author=Selam Gebrekidan |url=http://uk.reuters.com/article/2012/03/27/shale-utica-bp-idUKL2E8ERKN920120327 |agency=Reuters |date=27 March 2012 |accessdate=25 July 2012}}</ref><ref name="Rouan2012">{{cite news |title=BP joins Ohio’s shale drilling fray with deal for 84K acres |author=Rick Rouan |url=http://www.bizjournals.com/columbus/news/2012/03/27/bp-joins-ohios-shale-drilling-fray.html |newspaper=Columbus Business First |date=27 March 2012 |accessdate=25 July 2012}}</ref> In Colorado, BP operates approximately 1,500 oil and gas wells, primarily in the ]. The majority of these wells are "]", using methods other than conventional ]s to produce oil or gas.<ref name="Hasterok2012">{{cite news |title=BP investigates fatal Colorado natgas blast |author=Pamela Hasterok |url=http://www.reuters.com/article/2012/06/26/us-explosion-bp-idUSBRE85P1GE20120626 |agency=Reuters |date=26 June 2012 |accessdate=25 July 2012}}</ref> The company also has gas extraction operations in "unconventional" gas fields in the ] section of the San Juan basin, and in Moxa and ].<ref name="ZacksJun2012"/><ref name="BPUSExploration">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030180&contentId=7055744 |title=United States: Exploration and production |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> | |||
| BP operates nine onshore ] in six states, and held an interest in another in ] with a net generating capacity of 1,679 MW.<ref name="BP-wind">{{cite web |title= Wind energy |url= https://www.bp.com/en_us/united-states/home/who-we-are/what-we-do/wind-energy.html | publisher= BP |access-date=13 July 2019}}</ref> These wind farms include the ], ], Goshen North, ], Mehoopany, ] and Auwahi wind farms.<ref name="BP-wind-sites">{{cite web | title = Wind Energy sites | url = https://www.bp.com/en_us/united-states/home/where-we-operate/wind-energy-sites.html | publisher = BP | access-date = 21 July 2019}}</ref> It is also in process to acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms.<ref name=reuters100920/> | |||
| ====Other locations==== | |||
| In the US, BP operates ] in ]; ]; and ].<ref name="BPUSRefining">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030202&contentId=7055757 | |||
| |title=United States: Refining |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref><ref name="Dezember2012">{{cite news |title=BP Draws Buyer Interest in Two Refineries |author=Ryan Dezember |url=http://blogs.wsj.com/deals/2012/03/06/bp-draws-buyer-interest-in-two-refineries/ |newspaper=The Wall Street Journal |date=6 March 2012 |accessdate=7 June 2012}}</ref> | |||
| The company's Whiting refinery is the sixth largest in the US and can refine more than 400,000 barrels of crude oil per day.<ref name="OilandGas2012">{{cite news |title=BP Agrees To Add More Than $400M In Pollution Controls At Indiana Refinery And Pay $8M Clean Air Act Penalty |url=http://www.oilandgasonline.com/doc.mvc/bp-agrees-to-add-more-than-m-in-pollution-controls-at-indiana-refinery-and-pay-m-clean-air-act-penalty-0001 |newspaper=Oil and Gas Online |date=23 May 2012 |accessdate=14 June 2012}}</ref> {{As of|2012}}, BP is making a multi-billion investment to modernise the refinery in order to allow it to process heavier crude oil.<ref name="APMay2012(1)">{{cite news |title=US reaches pollution agreement at BP Indiana plant |url=http://www.foxnews.com/us/2012/05/23/us-reaches-pollution-agreement-at-bp-indiana-plant/ |agency=Associated Press |publisher=Fox News |date=23 May 2012 |accessdate=14 June 2012}}</ref><ref name="Tweh2012" >{{cite news |title=BP CEO: We want your trust |author=Bowdeyah Tweh |url=http://www.nwitimes.com/business/local/bp-ceo-we-want-your-trust/article_ab9219fe-47c1-5f0c-ad1f-a042fa060152.html |publisher=nwi.com |date=13 January 2012 |accessdate=30 July 2012}}</ref> The Toledo refinery in northwestern Ohio, in which BP has invested around $500 million on improvements since 2010, is a joint venture with ], which operates the refinery, and processes approximately 160,000 barrels of crude oil per day.<ref name="ReutersUK2012">{{cite news |title=BP-Husky Toledo refinery set for September turnaround |url=http://uk.reuters.com/article/2012/07/24/usa-refinery-toledo-idUKL2E8IO7FP20120724 |work=Reuters UK |date=24 July 2012 |accessdate=27 July 2012}}</ref><ref name="Blade2012">{{cite news |title=BP-Husky OKs $2.5B for project to boost oil volume |url=http://www.toledoblade.com/local/2010/12/02/BP-Husky-OKs-2-5B-for-project-to-boost-oil-volume.html |newspaper=Toledo Blade |date=1 December 2010 |accessdate=30 July 2012}}</ref> The Cherry Point and Carson refineries on the West Coast process the company's crude oil from Alaska and other countries.<ref name="Hollander2012"/> The Cherry Point refinery produces gasoline, jet fuel, diesel and some ] and ]. It supplies 20 percent of the gasoline in Washington state, and also supplies gasoline to Oregon and California. The refinery also produces 8 percent of the world's ] and is the largest supplier of calcined coke to the global aluminum industry.<ref name="Hollander2012"/><ref name="APMay2012(2)">{{cite news |title=BP Cherry Point refinery back in operation |url=http://seattletimes.nwsource.com/html/localnews/2018326050_apwabprefinery.html |agency=Associated Press |newspaper=The Seattle Times |date=31 May 2012 |accessdate=14 June 2012}}</ref> Since the early 2000s, the company has been focusing its refining business on processing crude from ] and ].<ref name="Dezember2012"/><ref name="Aulds2012">{{cite news |title=Rumor mill in high gear over BP buyers |author=T.J. Aulds |url=http://galvestondailynews.com/story/320094 |newspaper=The Daily News (Galveston) |date=6 June 2012 |archiveurl=http://web.archive.org/web/20120711094000/http://galvestondailynews.com/story/320094 |archivedate=11 July 2012 |accessdate=12 February 2013}}</ref> | |||
| In Egypt, BP produces approximately 15% of the country's total oil production and 40% of its domestic gas.<ref name="Petzet2012">{{cite news |title=BP Starts Nile Delta Seth field gas production |first=Alan |last = Petzet |url= https://www.ogj.com/articles/2012/06/bp-starts-nile-delta-seth-field-gas-production.html |work=] | publisher= ] |date=28 June 2012 |access-date=9 October 2012}}</ref> The company also has offshore gas developments in the East Nile Delta Mediterranean, and in the West Nile Delta,<ref name="ZacksJune2012">{{cite news |title=BP's Seth Yields Gas Before Plan |url=https://finance.yahoo.com/news/bps-seth-yields-gas-plan-171529513.html |work= Zacks Equity Research |date=29 June 2012 |access-date=1 October 2012}}</ref> where the company has a joint investment of US$9 billion with ] to develop North Alexandria and West Mediterranean concessions offshore gas fields.<ref name="Hromadko2010">{{cite news |title=RWE, BP to Jointly Invest $9B in Offshore Egypt Blocks |first=Jan |last = Hromadko |url= https://www.rigzone.com/news/oil_gas/a/96222/rwe_bp_to_jointly_invest_9b_in_offshore_egypt_blocks/ |work=Rigzone |date=19 July 2010 |access-date=10 October 2012}}</ref><ref name="BPWestNile2010">{{cite press release|title=BP Signs Agreement with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation to Amend the North Alexandria and West Mediterranean Deepwater Concessions |url= http://www.bp.com/en/global/corporate/media/press-releases/bp-signs-agreement-with-egyptian-ministry.html |publisher=BP |date=19 July 2010 |access-date=10 October 2012 }}</ref> | |||
| The company also owns three petrochemical plants in the US, which produce approximately four million tons of petrochemicals each year.<ref name="BPUSChemical">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030177&contentId=7055743 | |||
| |title=United States: Petrochemicals |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> Its petrochemical plant in Texas City, located on the same site as the formerly owned Texas City Refinery, produces chemicals including ] and ], which are used in the manufacture of products including windows, carpet and paint.<ref name="Sixel2005">{{cite news |title=Texas City refinery is nation's third-largest |first=Shannon | last = Buggs Sixel |url=http://www.chron.com/news/article/Texas-City-refinery-is-nation-s-third-largest-1661950.php |newspaper=Houston Chronicle |date=24 March 2005 |accessdate=25 July 2012}}</ref> BP's ] and Cooper River, ] petrochemical plants both produce purified ], more commonly known as PTA, which is used in the production of ] for clothing, packaging and ].<ref name="BPUSChemical"/><ref name="Cooper2007">{{cite news |title=Thai company to build synthetic fiber plant in Decatur |author=Lauren B. Cooper |url=http://www.bizjournals.com/birmingham/stories/2007/08/20/daily35.html |newspaper=Birmingham Business Journal |date=24 August 2007 |accessdate=27 July 2012}}</ref><ref name="PostCourier2012">{{cite news |title=BP's Cooper River Plant Hits 35 Years |url=http://news.google.com/newspapers?id=qZJIAAAAIBAJ&sjid=YAkNAAAAIBAJ&pg=6422,1015383&dq=bp+chemical-plant+cooper+river&hl=en |newspaper=The Post and Courier |date=19 November 2008 |accessdate=27 July 2012}}</ref> The Decatur plant also produces ] and naphthalene dicarboxlate.<ref name="BPUSMajorFacilities">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030179&contentId=7055761 |title=United States: Major Facilities |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> | |||
| BP is active in offshore oil development in Angola, where it holds an interest in a total of nine oil exploration and production blocks covering more than {{convert|30000|km2}}. This includes four blocks it acquired in December 2011 and an additional block that is operated by Brazilian national oil company, ], in which it holds a 40% stake.<ref name="BPAngolaAcquisition">{{cite press release|title=BP Grows Deepwater Exploration Portfolio with Major Win of Angola Acreage |url= http://www.bp.com/en/global/corporate/media/press-releases/bp-grows-deepwater-exploration-portfolio-with-major-win-of-angola-acreage.html |publisher=BP |date=20 December 2011 |access-date=1 October 2012 }}</ref> | |||
| The company's alternative energy operations based in the US include 13 ] in seven states, with a further three under construction {{as of|2012|07|lc=y}}.<ref name="Schiller2012">{{cite news |title=BP eyes wind, biofuels in alternative energy |author=Meghan Schiller |url=http://articles.marketwatch.com/2012-07-11/industries/32614233_1_cellulosic-ethanol-alternative-energy-wind-energy |newspaper=Medill News Service |date=11 July 2012 |accessdate=23 July 2012}}</ref> The farms are located in Colorado, California, Hawaii, Idaho, Indiana, Kansas, Pennsylvania, South Dakota and Texas.<ref name="Ferris2012">{{cite news |title=How Serious Is BP About Wind Energy? |author=David Ferris |url=http://www.forbes.com/sites/davidferris/2012/06/14/how-serious-is-bp-about-wind-energy/ |newspaper=Forbes |date=14 June 2012 |accessdate=23 July 2012}}</ref><ref name="Proctor2011">{{cite news |title=CEO discusses BP's move into alternative energy |author=Cathy Proctor |url=http://www.bizjournals.com/denver/print-edition/2011/07/15c/ceo-discusses-bps-move-into.html |newspaper=Denver Business Journal |date=15 July 2011 |accessdate=27 July 2012}}{{dead link|date=December 2012}}</ref><ref name="BPUSWind">{{cite web |url=http://www.bp.com/managedlistingsection.do?categoryId=9037207&contentId=7068537|title=Wind power: Projects and Operations |year=2012 |publisher=BP |archiveurl=http://web.archive.org/web-cdx/20120817003305/http://www.bp.com/managedlistingsection.do?categoryId=9037207&contentId=7068537 |archivedate=17 August 2012 |accessdate=12 February 2013}}</ref> Since 2005, BP has constructed an average of three turbines each week.<ref name="Sebastian2012">{{cite news |title=Winds of fortune sweep West Texas |author=Simone Sebastian |url=http://www.dallasnews.com/business/energy/20120404-bp-wind-energy-goes-full-blast-in-texas.ece |work=Houston Chronicle |date=4 March 2012 |accessdate=31 July 2012}}</ref> The total gross capacity of the 13 wind farms is 1,955 megawatts.<ref name="BPUSWind"/> BP has established a "Global Biofuels Technology Center" in ] to develop cellulosic technology and this technology is being tested at scalable levels at a biofuels demonstration plant, located in ].<ref name="BPUSAlternative">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030176&contentId=7055742 | |||
| |title=United States: Alternative energy |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> | |||
| BP has a stake in exploration of two blocks of offshore deepwater assets in the South China Sea.<ref name="China2012">{{cite news |title=BP gets OK for deepwater gas exploration |url=http://www.china.org.cn/business/2012-02/15/content_24640409.htm |work=China.org.cn |date=15 February 2012 |access-date=21 June 2012}}</ref><ref name="Xu2012">{{cite news |title=BP hopes to drill new S.China Sea gas block this yr |author=Wan Xu |author2=Wills, Ken|url= https://uk.reuters.com/article/bp-gas-china/bp-hopes-to-drill-new-s-china-sea-gas-block-this-yr-idUSL4E8DF2E320120215 |archive-url= https://web.archive.org/web/20181205122852/https://uk.reuters.com/article/bp-gas-china/bp-hopes-to-drill-new-s-china-sea-gas-block-this-yr-idUSL4E8DF2E320120215 |url-status= dead |archive-date= 5 December 2018 |work=]|date=15 February 2012 |access-date=30 July 2012}}</ref> | |||
| There are over 11,000 retail sites in the US operating under a BP brand including BP, ] and ].<ref name="BPUSRetail">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030204&contentId=7055758 |title=BP United States: Retail |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> On the US West Coast, BP primarily operates service stations under the ARCO brand, having acquired the company in 2000. The ARCO service stations sell BP-refined gasolines and biofuels.<ref name="Virgin2001">{{cite news |title=BP will retain Arco brand and low-price strategy |author=Bill Virgin |url=http://www.seattlepi.com/default/article/BP-will-retain-Arco-brand-and-low-price-strategy-1059536.php |newspaper=Seattle Post-Intelligencer |date=11 July 2001 |accessdate=27 July 2012}}</ref><ref name="BPARCO">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9038312&contentId=7037998 |title=ARCO |year=2012 |publisher=BP |accessdate=25 July 2012}}</ref> | |||
| In India, BP owns a 30% share of oil and gas assets operated by ], including exploration and production rights in more than 20 offshore oil and gas blocks, representing an investment of more than US$7 billion into oil and gas exploration in the country.<ref name="Sharma2011">{{cite news |title=BP to Make Big India Investment |first1=Amol |last1 = Sharma |first2=Marietta |last2 =Cauchi |url=https://www.wsj.com/articles/SB10001424052748704476604576157930214553312 |newspaper=] |date=21 February 2011 |access-date=21 June 2012}}</ref> | |||
| ====Other countries==== | |||
| ] | |||
| BP has oil and gas exploration and development operations in 30 countries worldwide.<ref name="KeyFacts2012">{{cite web |url=http://www.bp.com/extendedsectiongenericarticle.do?categoryId=9021229&contentId=7039276 |title=Key facts and figures |publisher=BP |accessdate=8 August 2012}}</ref> In Brazil, the company holds stakes in offshore oil and gas exploration in the Barreirinhas, Ceará and ] basins, in addition to onshore processing facilities.<ref name="Flynn2012">{{cite news |title=BP Expands Brazil Exploration Footprint |first=Alexis |last = Flynn |url=http://online.wsj.com/article/SB10001424052970203370604577265662775076758.html |newspaper= The Wall Street Journal|date=6 March 2012 |accessdate=19 June 2012}}</ref> BP also operates biofuel production facilities in Brazil, including three cane sugar mills for ethanol production.<ref name="Fick2011">{{cite news |title=BP Expands Biofuels Business In Brazil |first1=Jeff |last1=Fick |first2=Alexis |last2 =Flynn |url=http://online.wsj.com/article/SB10001424052748703597804576194820019691968.html |newspaper=The Wall Street Journal |date=14 March 2011 |accessdate=19 June 2012}}</ref><ref name="AFReutersSep11">{{cite news |title=BP expands Brazil ethanol operations |url=http://uk.reuters.com/article/energyOilNews/idAFS1E78D0BP20110914 |agency=Reuters |date=14 September 2011 |accessdate=21 June 2012}}</ref> In Azerbaijan BP operates the two largest oil and gas production projects in the Caspian Sea, the ] offshore oil fields, which supplies 80% of the country's oil production, and the ], and develops the ] complex of offshore geological structures.<ref name="Neff2010">{{cite news |title=BP Chief Reassures Azerbaijan on U.K. Firm's Commitment amid Talk of Asset Sales |first=Andrew |last = Neff |url=http://www.ihs.com/products/global-insight/industry-economic-report.aspx?id=106594069 |work=Global Insight |date=7 July 2010 |accessdate=30 July 2012}}</ref><ref name="Yevgrashina2012">{{cite news |title=BP to boost investment in Azeri projects in 2012 |first=Lada | last =Yevgrashina |url=http://www.reuters.com/article/2012/03/01/azerbaijan-bp-investment-idUSL5E8E17K820120301 |agency=Reuters |date=1 March 2012 |accessdate=21 June 2012}}</ref><ref name=today>{{cite news | url= http://today.az/news/business/70583.html | title= SOCAR and BP sign agreement on development project of oil and gas structures in Azerbaijan | publisher= ] | date=6 July 2010 | accessdate=2010-07-06}}</ref> In addition, it operates the Azerbaijan's major export pipelines such as ], ] and ]. In Egypt, BP produces approximately 15% of the country's total oil production and 40% of its domestic gas.<ref name="Petzet2012">{{cite news |title=BP Starts Nile Delta Seth field gas production |first=Alan |last = Petzet |url=http://www.ogj.com/articles/2012/06/bp-starts-nile-delta-seth-field-gas-production.html |work=] | publisher = ] |date=28 June 2012 |accessdate=9 October 2012}}</ref> The company also has offshore gas developments in the East Nile Delta Mediterranean, and in the West Nile Delta,<ref name="ZacksJune2012">{{cite news |title=BP's Seth Yields Gas Before Plan |url=http://finance.yahoo.com/news/bps-seth-yields-gas-plan-171529513.html |work= =Zacks Equity Research |date=29 June 2012 |accessdate=1 October 2012}}</ref> where the company has a joint investment of US$9 billion with ] to develop two offshore gas fields.<ref name="Hromadko2010">{{cite news |title=RWE, BP to Jointly Invest $9B in Offshore Egypt Blocks |first=Jan |last = Hromadko |url=http://www.rigzone.com/news/article.asp?a_id=96222 |work=Rigzone |date=19 July 2010 |accessdate=10 October 2012}}</ref><ref name="BPWestNile2010">{{cite press release |title=BP Signs Agreement with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation to Amend the North Alexandria and West Mediterranean Deepwater Concessions |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7063837 |publisher=BP |date=19 July 2010 |accessdate=10 October 2012}}</ref> BP is also involved in offshore oil development in Angola, where it holds an interest in a total of nine oil exploration and production blocks covering more than {{convert|30000|km2}}. This includes four blocks it acquired in December 2011 and an additional block that is operated by Brazilian national oil company, ], in which it holds a 40% stake.<ref name="BPAngolaAcquisition">{{cite press release |title=BP Grows Deepwater Exploration Portfolio with Major Win of Angola Acreage |url=http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7072651 |publisher=BP |date=20 December 2011 |accessdate=1 October 2012}}</ref> The company is the largest oil and gas producer in ], where it holds more than {{convert|1350|km2}} of offshore assets and is the largest shareholder in ], one of the largest ]s in ].<ref name="UPIMay11">{{cite news |title=BP eyes new work in Trinidad and Tobago |url=http://www.upi.com/Business_News/Energy-Resources/2012/05/15/BP-eyes-new-work-in-Trinidad-and-Tobago/UPI-75291337075292/ |agency=] |date=15 May 2011 |accessdate=21 June 2012}}</ref> BP also has a stake in exploration of two blocks of offshore deepwater assets in the South China Sea.<ref name="China2012">{{cite news |title=BP gets OK for deepwater gas exploration |url=http://www.china.org.cn/business/2012-02/15/content_24640409.htm |work=China.org.cn |date=15 February 2012 |accessdate=21 June 2012}}</ref><ref name="Xu2012">{{cite news |title=BP hopes to drill new S.China Sea gas block this yr |author=Wan Xu |coauthors= Wills, Ken|url=http://www.reuters.com/article/2012/02/15/bp-gas-china-idUSL4E8DF2E320120215 |agency=Reuters |date=15 February 2012 |accessdate=30 July 2012}}</ref> In India, BP owns a 30% share of oil and gas assets operated by ], including exploration and production rights in more than 20 offshore oil and gas blocks, representing an investment of more than US$7 billion into oil and gas exploration in the country.<ref name="Sharma2011">{{cite news |title=BP to Make Big India Investment |first1=Amol |last1 = Sharma |first2=Marietta |last2 =Cauchi |url=http://online.wsj.com/article/SB10001424052748704476604576157930214553312.html |newspaper=The Wall Street Journal |date=21 February 2011 |accessdate=21 June 2012}}</ref> In addition to the offshore operations in the British zone of North Sea, BP has some oilfields' interests also in the Norwegian section. | |||
| BP has major liquefied natural gas activities in Indonesia, where it operates the ] project, which began production in 2009 and has a capacity of 7.6 million tonnes of liquid natural gas per year.<ref name="Grieder2009">{{cite news|title=Indonesia's Tangguh LNG Project Begins Commissioning |first=Tom |last=Grieder |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=4VHY-CTH0-TX4S-W0NW&csi=250053&oc=00240&perma=true |work=Global Insight |date=3 February 2009 |access-date=30 July 2012 |url-access=subscription |url-status = dead|archive-url=https://web.archive.org/web/20140222045322/http://w3.nexis.com/new/docview/getDocForCuiReq?lni=4VHY-CTH0-TX4S-W0NW&csi=250053&oc=00240&perma=true |archive-date=22 February 2014 }}</ref> Also in that country, the company has invested in the exploration and development of ].<ref name="Suhana2011"/> | |||
| In addition to its offshore operations, the company is involved in major onshore oil and gas exploration and production in Iraq and Russia. BP operates in Iraq as part of the joint venture ] in the ], the world's fourth largest oilfield, where it produced over {{convert|1|Moilbbl/d}} of oil equivalent in 2011.<ref name="ReutersOct2009">{{cite news |title=Iraq signs deal with BP, CNPC for Rumaila field |url=http://uk.reuters.com/article/2009/10/08/iraq-oil-idUKL820863520091008 |agency=Reuters |date=8 October 2009 |accessdate=1 October 2012}}</ref><ref name="UPIJan11">{{cite news |title=BP reaches production milestone in Iraq |url=http://www.upi.com/Business_News/Energy-Resources/2011/01/12/BP-reaches-production-milestone-in-Iraq/UPI-97321294840756/ |agency=] |date=12 January 2011 |accessdate=21 June 2012}}</ref> {{As of|2013|03}}, BP holds a 19.75% stake in Russia's state-controlled oil company Rosneft.<ref name=reuters220313/> BP's Canadian operations are headquartered in Calgary and the company operates primarily in Alberta, the ], and ]. It purchases crude oil for the company's refineries in the US and has ]s holdings in Alberta and four offshore blocks in Nova Scotia.<ref name="BPCanada">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=182&contentId=2000599 |title=BP in Canada |year=2012 |publisher=BP |accessdate=9 October 2012}}</ref><ref name="BPCanadianOilSands">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9036694&contentId=7067647 |title=Canadian oil sands |publisher=BP |accessdate=1 October 2012}}</ref><ref name="upstream1611112">{{Cite news| url = http://www.upstreamonline.com/live/article1270213.ece |title= BP spends big off Nova Scotia |last1=O'Cinneide |first1= Eoin| first2 =Tonya |last2 = Zelinsky | newspaper=] | publisher= ] |date=16 November 2012 |accessdate=17 November 2012}}</ref> The company's Canadian oil sands leases include joint ventures with ] in the Sunrise Energy Project,<ref name="Watkins2010">{{cite news |title=Enbridge signs agreement with Husky for Sunrise facilities |first=Eric | last = Watkins |url=http://www.ogj.com/articles/2010/09/enbridge-signs-agreement.html |work=] | publisher = ] |date=10 September 2010 |accessdate=11 October 2012}}</ref> and ] in Pike,<ref name="DevonEnergy2010">{{cite web |url=http://www.devonenergy.com/SiteCollectionDocuments/DVN-2010CorpFactSheet.pdf |title=Devon Energy Fact Sheet |date=2010 |publisher=Devon Energy |accessdate=11 October 2012}}</ref> and a partnership with ] in the development of the Terre de Grace oil sands lease.<ref name="Cattaneo2012">{{cite news |title=Economist heads BP's Canadian unit |first=Claudia | last = Cattaneo |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=55CX-DSY1-DY2T-F011&csi=397227&oc=00240&perma=true |work=National Post's Financial Post & FP Investing |date=12 April 2012 |accessdate=30 July 2012|id = {{subscription required}}}}</ref> BP also has major liquefied natural gas activities in countries including Indonesia, where it operates the ] project, which began production in 2009 and has a capacity of 7.6 million tonnes of liquid natural gas per year.<ref name="Grieder2009">{{cite news |title=Indonesia's Tangguh LNG Project Begins Commissioning |first=Tom | last = Grieder |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=4VHY-CTH0-TX4S-W0NW&csi=250053&oc=00240&perma=true |work=Global Insight |date=3 February 2009 |accessdate=30 July 2012|id = {{subscription required}}}}</ref> Also in that country, the company has invested in the exploration and development of coalbed methane.<ref name="Suhana2011">{{cite news |title=BP Plans To Invest $10 Billion In Indonesia In Next 10 Years |first1 =Agus | last1 = Suhana |first2=Yoga | last2 = Rusmana |url=http://www.bloomberg.com/news/2011-05-27/bp-plans-to-invest-10-billion-in-indonesia-over-next-10-years.html |agency=] |date=27 May 2011 |accessdate=21 June 2012}}</ref> | |||
| BP operates in Iraq as part of the joint venture ] in the ], the world's fourth largest oilfield, where it produced over {{convert|1|Moilbbl/d}} of oil equivalent in 2011.<ref name="ReutersOct2009">{{cite news |title=Iraq signs deal with BP, CNPC for Rumaila field |url=https://www.reuters.com/article/idINIndia-43021420091008 |work=]|date=8 October 2009 |access-date=1 October 2012}}</ref><ref name="UPIJan11">{{cite news |title=BP reaches production milestone in Iraq |url= https://www.upi.com/Business_News/Energy-Industry/2011/01/12/BP-reaches-production-milestone-in-Iraq/UPI-97321294840756/ |work=] |date=12 January 2011 |access-date=21 June 2012}}</ref> A BBC investigation found in 2022 that waste-gas was being burned as close as 350 meters from people's homes. A leaked report from ] blamed air pollution for 20% rise in ] in ] between 2015 and 2018.<ref name=BBC1>, by Jess Kelly, Owen Pinnell & Esme Stallard, 30 September, ]</ref> The Iraqi Ministry of Health has banned its employees from speaking about the health damage.<ref name=BBC1/> Iraqi Environment Minister Jassem al-Falahi later admitted that "pollution from oil production is the main reason for increases in local cancer rates."<ref>{{cite news|url=https://www.bbc.com/news/science-environment-63284896 |title=Iraqi minister admits gas flaring cancer link - BBC News|newspaper=]|date=17 October 2022|access-date=2 December 2022}}</ref> | |||
| The company's refining operations include Europe's second-largest oil refinery, located in the Netherlands. The Rotterdam refinery can process up to {{convert|377000|oilbbl}} of crude oil per day.<ref name=Reuters2009>{{cite news |title=Vitol Sells Diesel; BP Plans Rotterdam Unit Halt: Oil Products |author=Lananh Nguyen |url=http://www.bloomberg.com/news/2012-09-18/vitol-sells-diesel-bp-plans-rotterdam-unit-halt-oil-products.html |agency=] |date=18 September 2012 |accessdate=1 October 2012}}</ref> In Australia, BP operates two out of the country's seven refineries: Kwinana in ], which can process up to {{convert|146000|oilbbl}} of crude oil per day and is the country's largest refinery, and the ] refinery in ], which can process up to {{convert|102000|oilbbl}} of crude per day.<ref name="AnnualReport2011"/><ref name=Zee2009>{{cite news |title=BP Says Australian Oil Refinery Unaffected By Strike |first1=Samantha |last1 = Zee |first2 =Ben |last2 = Sharples |url=http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDBkzZ7xcRJY |work=Bloomberg Businessweek|agency=] |date=9 December 2009 |accessdate=14 June 2012}}</ref><ref name="ReutersFeb2012">{{cite news |title=BP plans maintenance work at Australian refineries in H1 - sources |url=http://www.reuters.com/article/2012/02/23/bp-australia-shutdown-idUSL4E8DN20P20120223 |agency=Reuters |date=23 February 2012 |accessdate=14 June 2012}}</ref> BP also owns a refinery in Spain, and share in refineries in Germany, South Africa and New Zealand and owns or has a share in more than a dozen petrochemical manufacturing plants worldwide. The company's petrochemicals plants produce products including purified terephthalic acid, paraxylene, and acetic acid.<ref name="AnnualReport2011"/> Its petrochemicals, lubricants, fuels and related services are marketed in over 70 countries.<ref name="AnnualReport2011"/> | |||
| In Oman, BP currently has a 60% participation interest in Block 61. Block 61 is one of Oman's largest gas blocks with a daily production capacity of 1.5 billion cubic feet of gas and more than 65,000 barrels of condensate. It covers around 3,950 km in central Oman and contains the largest tight gas development in the Middle East. On 1 February 2021, BP inked a deal to sell 20% participating interest in Block 61 to Thailand's ] for a total of $2.6 billion. Upon closure of the sale, the BP will remain the block's operator with a 40% interest.<ref>{{cite web|date=1 February 2021|title=BP sells minority shares in Oman's Block 61 for $2.6 billion|url=https://wafoman.com/2021/02/01/bp-sells-minority-shares-in-omans-block-61-for-2-6-billion/?lang=en|access-date=1 February 2021|website=WAF|language=en-US}}</ref><ref>{{Cite news|date=1 February 2021|title=BP sells 20% stake in Oman gas development to Thailand's PTTEP|language=en|work=]|url=https://www.reuters.com/article/uk-bp-divestiture-idUSKBN2A11QB|access-date=1 February 2021}}</ref> | |||
| ===Operations by activity=== | |||
| ] in the Australian outback]] | |||
| ====Upstream==== | |||
| BP operates the ] refinery in ], which can process up to {{convert|146000|oilbbl/d}} of crude oil and is the country's largest refinery,<ref name=Denton15>{{cite news |title=BP Australia to invest A$450 million to expand and upgrade retail network |last1=Denton |first1=Vicky |url=https://fuelsandlubes.com/bp-australia-to-invest-aud-450-million-to-expand-and-upgrade-retail-network-2/ |newspaper=F+L Daily |date=6 May 2015 |access-date=18 August 2017}}</ref> supplying fuel to 80% of Western Australia.<ref name=McKnight17>{{cite news |title=$80m overhaul at BP |last1=McKnight |first1=Gareth |url=https://thewest.com.au/news/sound-southern-telegraph/80m-overhaul-at-bp-ng-b88474084z |newspaper=The West Australian |date=16 May 2017 |access-date=18 August 2017}}</ref> BP is a non-operating joint venture partner in the ], which produces LNG, pipeline gas, condensate and oil.<ref name=Chambers16>{{cite news |title= BP job cuts go deeper as focus turns to fuel retailing |last1=Chambers |first1=Matt |url=http://www.theaustralian.com.au/business/mining-energy/bp-job-cuts-go-deeper-as-focus-turns-to-fuel-retailing/news-story/24f57e9e2170bd3fdd3a0d4b2588c27a |newspaper=] |date=18 May 2016 |access-date=18 August 2017 |url-access=subscription }}</ref> The NWS venture is Australia's largest resource development and accounts for around one third of Australia's oil and gas production.<ref name=Lanis17>{{cite news |title=Counting the missing billions: How Australia is losing out to oil and gas giants |last1=Lanis |first1=Roman |last2=Govendir |first2=Brett |last3=McClure |first3=Ross |url=https://www.theguardian.com/business/2017/apr/26/counting-the-missing-billions-how-australia-is-losing-out-to-oil-and-gas-giants |newspaper=] |date=25 April 2017 |access-date=18 August 2017}}</ref><ref name=Daiss16>{{cite news |title=Woodside hedges bet with extra $2B North West Shelf investment |last1=Daiss |first1=Tim |url=http://www.rigzone.com/news/oil_gas/a/142516/woodside_hedges_bet_with_extra_2b_north_west_shelf_investment |newspaper=Rigzone |date=15 January 2016 |access-date=18 August 2017}}</ref> | |||
| BP operates the two largest oil and gas production projects in the Azerbaijan's sector of the Caspian Sea, the ] offshore oil fields, which supplies 80% of the country's oil production, and the ]. It also and develops the ] complex of offshore geological structures.<ref name="Neff2010">{{cite news |title=BP Chief Reassures Azerbaijan on U.K. Firm's Commitment amid Talk of Asset Sales |first=Andrew |last = Neff |url= https://ihsmarkit.com/country-industry-forecasting.html?id=106594069 |work=Global Insight |date=7 July 2010 |access-date=30 July 2012}}</ref><ref name="Yevgrashina2012">{{cite news |title=BP to boost investment in Azeri projects in 2012 |first=Lada | last =Yevgrashina |url=https://www.reuters.com/article/azerbaijan-bp-investment-idUSL5E8E17K820120301 |work=]|date=1 March 2012 |access-date=21 June 2012}}</ref><ref name=today>{{cite news | url= http://today.az/news/business/70583.html | title= SOCAR and BP sign agreement on development project of oil and gas structures in Azerbaijan | publisher= ] | date=6 July 2010 | access-date=6 July 2010}}</ref> In addition, it operates the ] and the Azerbaijan's major export pipelines through ] such as ], ] and ] pipelines.<ref>{{cite news |last=Yumich |first=Seth |title= BP-Georgia General Director – Mr. Neil Dunn |url=http://www.the-american-times.com/bp-georgia-general-director-mr-neil-dunn/2013/01/12 |work=The American Times | date= 12 January 2013 |access-date=27 May 2013}}</ref> | |||
| ] | |||
| BP's refining operations in continental Europe include Europe's second-largest oil refinery, located in Rotterdam, the Netherlands, which can process up to {{convert|377000|oilbbl}} of crude oil per day.<ref name=Reuters2009/> Other facilities are located in Ingolstadt, Gelsenkirchen and Lingen, in Germany, as well as one in Castellón, Spain.<ref>{{cite web |title=Refineries and petrochemicals plants |url=https://www.bp.com/en/global/corporate/what-we-do/downstream/refineries-and-petrochemicals-plants.html |publisher=BP |access-date=8 June 2019 |archive-url=https://archive.today/20190608222836/https://www.bp.com/en/global/corporate/what-we-do/downstream/refineries-and-petrochemicals-plants.html |archive-date=8 June 2019}}</ref> | |||
| In addition to its offshore operations in the British zone of North Sea, BP has interests in the Norwegian section of the sea through its stake in Aker BP. {{As of|2018|12}}, BP holds a 19.75% stake in Russia's state-controlled oil company Rosneft.<ref name=":2" /><ref name=reuters220313/><ref name="AR18-Rosneft"/> | |||
| Retail operations of motor vehicle fuels in Europe are present in the United Kingdom, France, Germany (through the Aral brand), the Netherlands, Switzerland, Italy, Austria, Poland, Greece and Turkey.<ref>{{cite web |title=The countries |url=https://www.bp.com/en/global/bp-europa-se/the-countries.html |publisher=BP |access-date=8 June 2019}}</ref><ref>{{cite web |title=BP's impact on the EU27 economies in 2016 |url=https://www.bp.com/en_gb/united-kingdom/home/who-we-are/bps-impact-on-the-eu27-countries.html |publisher=BP |access-date=8 June 2019}}</ref><ref>{{cite web |title=All petrol stations BP, Greece |url=https://gr.fuelo.net/?lang=en |publisher=Fuelo.net |access-date=9 June 2019}}</ref> | |||
| BP's Canadian operations are headquartered in ] and the company operates primarily in ].<ref>{{cite news|url=https://globalnews.ca/news/8916897/bp-exits-oilsands-offshore-focus-sunrise-to-cenovus/|title=BP exits oilsands to focus on offshore; will sell Sunrise stake to Cenovus|date=13 June 2022|newspaper=Global News|access-date=4 April 2023}}</ref> It purchases crude oil for the company's refineries in the United States, and has a 35 per cent stake in the undeveloped Bay du Nord project and three offshore exploration block in ].<ref name="upstream1611112">{{Cite news| url = https://www.saltwire.com/atlantic-canada/business/industry-abuzz-about-bp-well-being-drilled-off-newfoundland-this-summer-100814253/ |title= Industry abuzz about BP well being drilled off Newfoundland this summer |last1=Wiffen |first1= Glen| newspaper=] |date=13 January 2023 |access-date=4 April 2023 |url-access=subscription }}</ref> | |||
| BP is the largest oil and gas producer in ], where it holds more than {{convert|1350|km2}} of offshore assets and is the largest shareholder in ], one of the largest ]s in ].<ref name="UPIMay11">{{cite news |title=BP eyes new work in Trinidad and Tobago |url= https://www.upi.com/Business_News/Energy-Industry/2012/05/15/BP-eyes-new-work-in-Trinidad-and-Tobago/UPI-75291337075292/ |work=] |date=15 May 2011 |access-date=21 June 2012}}</ref> | |||
| In Brazil, BP holds stakes in offshore oil and gas exploration in the Barreirinhas, Ceará and ] basins, in addition to onshore processing facilities.<ref name="Flynn2012">{{cite news |title=BP Expands Brazil Exploration Footprint |first=Alexis |last = Flynn |url=https://www.wsj.com/articles/SB10001424052970203370604577265662775076758 |newspaper= ]|date=6 March 2012 |access-date=19 June 2012}}</ref> BP also operates biofuel production facilities in Brazil, including three cane sugar mills for ethanol production.<ref name="Fick2011">{{cite news |title=BP Expands Biofuels Business in Brazil |first1=Jeff |last1=Fick |first2=Alexis |last2 =Flynn |url=https://www.wsj.com/articles/SB10001424052748703597804576194820019691968 |newspaper=] |date=14 March 2011 |access-date=19 June 2012}}</ref><ref name=reuters140911/> | |||
| BP operated in Singapore until 2004 when it sold its retail network of 28 stations and LPG business to ] (SPC). It also sold its 50% in SPC.<ref>{{cite web|url=https://www.spc.com.sg/about-us/history-milestones/|title=History & Milestones|access-date=19 November 2022|website=SPC}}</ref> | |||
| BP's Türkiye Operator was ]. (]) (Agreement in place expected 2024.<ref>{{Cite web |title=Vitol on LinkedIn: Today, Vitol-owned Petrol Ofisi announced it has agreed to buy bp's shares… |url=https://www.linkedin.com/posts/vitol-b%2Ev%2E_today-vitol-owned-petrol-ofisi-announced-activity-7130852043426000897-Ailh |access-date=2023-11-16 |website=www.linkedin.com |language=en}}</ref>) | |||
| ===Exploration and production=== | |||
| {{See also|Oil fields operated by BP}} | {{See also|Oil fields operated by BP}} | ||
| BP Upstream's activities include exploring for new oil and natural gas resources, developing access to such resources, and producing, transporting, storing and processing oil and natural gas.<ref name="Forbes2012" |
BP Upstream's activities include exploring for new oil and natural gas resources, developing access to such resources, and producing, transporting, storing and processing oil and natural gas.<ref name="Forbes2012"/><ref name="CNNMoney2011"/> The activities in this area of operations take place in 25 countries worldwide. In 2018, BP produced around {{convert|3.7|Moilbbl/d}} of oil equivalent,<ref name="AR18-glance"/> of which {{convert|2.191|Moilbbl/d}} were liquids and {{convert|8.659|e9cuft/d|abbr=off}} was natural gas, and had total proved reserves of {{convert|19945|Moilbbl}} of oil equivalent, of which liquids accounted {{convert|11456|Moilbbl}} barrels and natural gas {{convert|49.239|e12cuft|abbr=off}}.<ref name="AR18-estimates"/> In addition to the conventional oil exploration and production, BP has a stake in the three oil sands projects in Canada.<ref name=fp300712/><ref name="reuters240620"/> | ||
| BP had plans to drop its oil and gas production to fall by at least one million barrels a day by 2030, a 40% reduction on 2019 levels, but this was scrapped in October 2024, with plans for an increase in production instead.<ref name=":4">{{Cite web |last=Bousso |first=Ron |date=October 7, 2024 |title=Exclusive: BP abandons goal to cut oil output, resets strategy |url=https://www.reuters.com/business/energy/bp-drops-oil-output-target-strategy-reset-sources-say-2024-10-07/ |access-date=October 9, 2024 |website=]}}</ref><ref name=cnn040820/> | |||
| ====Downstream==== | |||
| BP Downstream's activities include refining, marketing, manufacturing, transportation, trading and supply of ], ]s products and ].<ref name="Forbes2012"/> Downstream is responsible for BP's fuels, lubricants and petrochemical businesses and has major operations located in Europe, North America and Asia.<ref name="ReutersProfile2012">{{cite news |title=Profile: BP PLC (BP) |url=http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=BP |agency=Reuters |accessdate=7 June 2012}}</ref> BP owns or holds a share in 16 refineries worldwide, of which seven are located in Europe and five are in the US. The company also has 21,800 service stations and markets its products in approximately 70 countries worldwide.<ref name="AnnualReport2011"/> | |||
| === |
===Refining and marketing=== | ||
| ] service station in Weiterstadt, Germany]] | |||
| ] in Michigan, United States]] | |||
| BP downstream's activities include the refining, marketing, manufacturing, transportation, trading and supply of ] and ]s.<ref name="Forbes2012"/> Downstream is responsible for BP's fuels and lubricants businesses, and has major operations located in Europe, North America and Asia.<ref name="ReutersProfile2012">{{cite news |title=Profile: BP PLC (BP) |url=https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=BP |archive-url=https://web.archive.org/web/20100210091851/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=BP |url-status=dead |archive-date=10 February 2010 |work=]|access-date=7 June 2012}}</ref> As of 2018, BP owned or had a share in 11 refineries.<ref name="AR18-USrefinery"/> | |||
| ] is the aviation division of BP, providing ], lubricants & services. It has operations in over 50 countries worldwide. | |||
| BP, which employs about 1,800 people in oil trading and trades over {{convert|5|Moilbbl/d}} of oil and refined products, is the world's third-biggest oil trader after ] and ].<ref name="Reuters BP trading"/> The operation is estimated to be able to generate over $1 billion trading profits in a good year.<ref name="Reuters BP trading">{{cite news|last1=Bousso|first1=Ron|last2=Zhdannikov|first2=Dmitry|title=BP sees trading benefits from oil boom in the Americas|url=http://uk.reuters.com/article/uk-bp-refining-trading-idUKKBN1701KN|archive-url=https://web.archive.org/web/20170329122411/http://uk.reuters.com/article/uk-bp-refining-trading-idUKKBN1701KN|url-status=dead|archive-date=29 March 2017|access-date=29 March 2017|work=]|date=29 March 2017}}</ref> | |||
| =====BP Shipping===== | |||
| BP Shipping provides the logistics to move BP's oil and gas cargoes to market, as well as marine structural assurance<ref>{{cite web|url=http://www.bp.com/sectiongenericarticle.do?categoryId=9019836&contentId=7036987 |title=Marine Assurance |publisher=BP |date=1 January 2008 | |
] is the aviation division of BP, providing ], lubricants & services. It has operations in over 50 countries worldwide. ] provides the logistics to move BP's oil and gas cargoes to market, as well as marine structural assurance.<ref>{{cite web|url=http://www.bp.com/sectiongenericarticle.do?categoryId=9019836&contentId=7036987 |title=Marine Assurance |publisher=BP |date=1 January 2008 |access-date=17 July 2010| archive-url= https://web.archive.org/web/20100719050328/http://www.bp.com/sectiongenericarticle.do?categoryId=9019836&contentId=7036987| archive-date= 19 July 2010|url-status = live}}</ref> It manages a large fleet of vessels most of which are held on long-term operating leases. BP Shipping's chartering teams based in London, Singapore, and Chicago also charter third party vessels on both time charter and voyage charter basis. The BP-managed fleet consists of ]s (VLCCs), one North Sea shuttle tanker, medium size crude and product carriers, ], ], and coasters. All of these ships are double-hulled.<ref>{{cite web|url=http://www.bp.com/en/global/bp-shipping/our-fleet.html |title= Our fleet |publisher=BP |access-date=17 July 2010}}</ref> | ||
| BP has around 18,700 service stations worldwide.<ref name="AR18-glance"/> Its flagship retail brand is BP Connect, a chain of service stations combined with a convenience store,<ref name="BPServiceStations">{{cite web|url=http://www.bp.com/sectiongenericarticle.do?categoryId=9021516&contentId=7040016 |title=Service stations and shops |publisher=BP |access-date=4 April 2013 |url-status = dead|archive-url=https://web.archive.org/web/20130419124838/http://www.bp.com/sectiongenericarticle.do?categoryId=9021516&contentId=7040016 |archive-date=19 April 2013 }}</ref> although in the US it is gradually being transitioned to the ] format. BP also owns half of Kentucky-based convenience store company ] with ArcLight Capital Partners (who own the Gulf brand in the United States) since 2019. On 13 July 2021, BP announced it will take acquire ArcLight Capital Partners' share of Thorntons, and thus fully own the convenience store company. The deal is expected to close later in the year.<ref>{{Cite web|url=https://www.bp.com/en_us/united-states/home/news/press-releases/bp-to-grow-mobility-and-convenience-presence-in-america-integrating-convenience-leader-thorntons.html|title=bp to grow mobility and convenience presence in America, integrating convenience leader Thorntons | News | Home|website=United States}}</ref> In Germany and Luxembourg, BP operates service stations under the ] brand.<ref name=BPAral>{{cite web |url=http://www.bp.com/en/global/corporate/about-bp/our-history/heritage-brands/history-of-aral.html |title=History of Aral |publisher=BP |access-date=17 September 2010 |archive-url=https://web.archive.org/web/20160417124444/http://www.bp.com/en/global/corporate/about-bp/our-history/heritage-brands/history-of-aral.html |archive-date=17 April 2016 |url-status = dead }}</ref> 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.<ref name="BPArco">{{cite web |url= http://www.bp.com/en/global/corporate/about-bp/our-history/heritage-brands/history-of-arco-ampm.html |title= History of ARCO/ampm |publisher= BP |access-date= 17 September 2010 |archive-url= https://web.archive.org/web/20160417070840/http://www.bp.com/en/global/corporate/about-bp/our-history/heritage-brands/history-of-arco-ampm.html |archive-date= 17 April 2016 |url-status = dead|df= dmy-all }}</ref> In Australia BP operates a number of BP Travel Centres, large-scale destination sites located which, in addition to the usual facilities in a BP Connect site, also feature food-retail tenants such as ], ] and ] and facilities for long-haul truck drivers.<ref name="BP Truck Stop Australia">{{cite web|url= http://www.bp.com/en_au/australia/products-services/service-stations/truck-stops.html |title= BP Truck Stop Network |publisher=BP |access-date=17 September 2010}}</ref> | |||
| The BP-managed fleet consists of Very Large Crude Carriers (VLCCs), one North Sea shuttle tanker, medium size crude and product carriers, liquefied natural gas (LNG) carriers, liquefied petroleum gas (LPG) carriers, and coasters. All of these ships are double-hulled.<ref>{{cite web|url=http://www.bp.com/managedlistingsection.do?categoryId=9019823&contentId=7036789 |title=BP Shipping Fleet |publisher=BP |accessdate=17 July 2010| archiveurl= http://web.archive.org/web/20100715080835/http://www.bp.com/managedlistingsection.do?categoryId=9019823&contentId=7036789| archivedate= 15 July 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| ] is BP's main brand for industrial and ] ] and is applied to a large range of BP oils, ] and similar products for most ] applications.<ref name="BPCastrol">{{cite web |url= http://www.bp.com/en/global/corporate/about-bp/our-brands/castrol.html |title= Castrol |publisher= BP |access-date= 17 September 2010 |archive-url= https://web.archive.org/web/20130612011554/http://www.bp.com/en/global/corporate/about-bp/our-brands/castrol.html |archive-date= 12 June 2013 |url-status = dead|df= dmy-all }}</ref> | |||
| =====Lubricants===== | |||
| ] is BP's main brand for industrial and ] ] and is applied to a large range of BP oils, ]s and similar products for most ] applications. | |||
| === |
===Clean energy rhetoric=== | ||
| ] | |||
| ] service station in Weiterstadt, Germany]] | |||
| ]]] | |||
| BP has around 21,800 service stations worldwide, which are primarily operated under the BP brand.<ref name="FOI2011"/> In Germany and Luxembourg, BP operates service stations under the ] brand, having acquired the majority of Veba Öl AG in 2001 and subsequently rebranded its existing stations in Germany to the Aral name. On the US West Coast, in the states of California, Oregon, Washington, Nevada, Idaho, Arizona, and Utah, BP primarily operates service stations under the ] brand, having acquired ARCO in 2000. ARCO is a popular "cash only" retailer, selling products refined from Alaska North Slope crude at the ] in Washington, a plant in Los Angeles, and at other contract locations on the West Coast. | |||
| BP's public rhetoric and pledges emphasise that the company is shifting towards climate-friendly, low-carbon and transition strategies. However, a 2022 study found that the company's spending on clean energy was insignificant and opaque, with little to suggest that the company's discourse matched its actions.<ref>{{Cite journal|last1=Li|first1=Mei|last2=Trencher|first2=Gregory|last3=Asuka|first3=Jusen|date=16 February 2022|title=The clean energy claims of BP, Chevron, ExxonMobil and Shell: A mismatch between discourse, actions and investments|journal=PLOS ONE|language=en|volume=17|issue=2|pages=e0263596|doi=10.1371/journal.pone.0263596| pmid=35171938 |issn=1932-6203|pmc=8849545|bibcode=2022PLoSO..1763596L |doi-access=free }}</ref> | |||
| ] is BP's flagship retail brand and operates worldwide. BP Connect sites feature the Wild Bean Cafe, which offers cafe-style coffee and a selection of hot food as well as freshly baked muffins and sandwiches. BP Connect sites usually offer table and chair seating and often an ]. Some BP Connect sites in the UK are run in partnership with ], with the on-site shop being an ]. In the US, the BP Connect concept is gradually being transitioned to the ] brand and concept. In Australia BP operates a number of BP Travel Centres, large-scale destination sites located which, in addition to the usual facilities in a BP Connect site, also feature major food-retail tenants such as ], ] and ], with a large seating capacity food court and facilities for long-haul truck drivers. | |||
| BP was the first of ]s to say that it would focus on energy sources other than fossil fuels.<ref name="reuters151217" /> It established an ] and low carbon energy business in 2005. According to the company, it spent a total of $8.3 billion in renewable energy projects including solar, wind, and ], and non-renewable projects including ] and ], through completion in 2013.<ref name="Schiller-2012" /><ref name="Wells2012" /><ref name="sieber151217" /> The relatively small size of BP's alternative energy operations has led to allegations of ] by ],<ref name="greenpeace211010" /> ],<ref name="motherjones040510" /> and energy analyst and activist ],<ref name="accuracy210812" /> among others.<ref name="guardian201108" /> In 2018, the CEO Bob Dudley said that out of the company's total spending of $15 to $17 billion per year, about $500 million will be invested in low-carbon energy and technology.<ref name="reuters210518" /> In August 2020, BP promised to increase its annual low carbon investments to $5 billion by 2030.<ref name="cnn040820" /> The company announced plans to transform into an integrated energy company, with a renewed focus on investing away from oil and into low-carbon technologies.<ref>{{Cite web|url=https://www.businesslive.co.za/bd/opinion/2020-09-20-bp-to-become-integrated-energy-company-as-it-moves-away-from-oil-and-gas/ |title=BP to become integrated energy company as it moves away from oil and gas|date=20 September 2020|work=Business Live|access-date=26 December 2020}}</ref> It has set targets to have a renewables portfolio of 20 GW by 2025, and 50 GW by 2030.<ref>{{Cite web|url=https://www.greentechmedia.com/articles/read/how-lightsource-inspired-bps-low-carbon-pivot |title=How Lightsource Inspired BP's Low-Carbon Pivot|first=John|last=Parnell |date=1 December 2020|work=Greentech Media |access-date=26 December 2020}}</ref> | |||
| ] operated retail locations in Canada from 1948 to 1982. The downstream assets of BP Canada were sold to ] in 1982. | |||
| BP operates nine wind farms in seven states of the U.S., and held an interest in another in ] with a net generating capacity of 1,679 MW.<ref name="BP-wind"/> It is also in process to acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms.<ref name=reuters100920/> BP and ] are cooperating for testing the energy storage by battery at the Titan 1 wind farm.<ref name="AR18-wind"/> BP Launchpad has also invested in ONYX InSight, one of the leading providers of predictive analytic solutions serving the wind industry.<ref name=energyvoice230120/> | |||
| ====BP Alternative Energy==== | |||
| ], of which BP is joint owner]] | |||
| BP established its Alternative Energy business in 2005 to explore low-carbon energy options.<ref name="BP AlternativeEnergy">{{cite web |url=http://www.bp.com/sectiongenericarticle800.do?categoryId=9036324&contentId=7067654 |title=Alternative Energy |publisher=BP |accessdate=13 September 2012}}</ref> BP Alternative Energy primarily invests in wind and ] operations.<ref name=autogenerated5>{{cite news |title=BP eyes wind, biofuels in alternative energy |first=Meghan | last = Schiller |url=http://articles.marketwatch.com/2012-07-11/industries/32614233_1_cellulosic-ethanol-alternative-energy-wind-energy |newspaper=Medill News Service |date=11 July 2012 |accessdate=23 July 2012}}</ref><ref name="Reuters2010">{{cite news |title=BP to invest £650 million plus in alt energy |url=http://uk.reuters.com/article/2010/04/17/uk-bp-altenergy-idUKTRE63C5JZ20100417 | agency = Reuters |date=17 April 2010 |accessdate=7 June 2012}}</ref> The alternative energy division is headed by Katrina Landis.<ref name="Daughtery2012">{{cite news |title=BP alternative energy division moves HQ to Houston |first=Deon |last=Daugherty |url=http://www.bizjournals.com/houston/print-edition/2012/04/27/bp-alternative-energy-division-moves.html?page=all |newspaper=Houston Business Journal |date=27 April 2012 |accessdate=7 June 2012}}</ref> Originally the business's headquarters were based in London, but were later moved to ].<ref name="Wells2012"/><ref name=bpalternative> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=25629612 | |||
| | title= Company Overview of BP Alternative Energy Ltd. | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref><ref name=guardian290609> | |||
| {{cite news | |||
| | url= http://www.guardian.co.uk/business/2009/jun/28/bp-alternative-energy | |||
| | title= BP shuts alternative energy HQ | |||
| | newspaper = ] | |||
| | first = Terry | last = Macalister | |||
| | date = 29 June 2009 | |||
| | accessdate= 3 November 2012}} | |||
| </ref> Its biofuel and wind units are headquartered in Houston.<ref name="Daughtery2012"/><ref name=bpwind> | |||
| {{cite web | |||
| | url= http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=52609108 | |||
| | title= Company Overview of BP Wind Energy North America Inc. | |||
| | work = ] | |||
| | accessdate= 3 November 2012}} | |||
| </ref> {{As of|2012}}, the BP Alternative Energy business employed 5,000 people worldwide.<ref name="Wells2012">{{cite news |title=Big Oil's Big in Biofuels |author= Ken Wells |url=http://www.businessweek.com/articles/2012-05-10/big-oils-big-in-biofuels#p1 |work =Bloomberg Businessweek |date=10 May 2012 |accessdate=24 September 2012}}</ref><ref name="Proctor2011"/> | |||
| In Brazil, BP owns two ethanol producers—''Companhia Nacional de Açúcar e Álcool'' and''Tropical BioEnergia''—with three ethanol mills.<ref name=reuters140911/> These mills produce around {{convert|800000|m3/a|oilbbl/a}} of ethanol equivalent.<ref name=spw201217/> BP has invested in an agricultural biotechnology company Chromatin, a company developing crops that can grow on marginal land and that are optimized to be used as feedstock for biofuel.<ref name="Herndon2011"/> Its joint venture with DuPont called Butamax, which has developed the patented bio-butanol-producing technology,<ref name=delaware280815/> and owns an isobutanol plant in ], United States.<ref name=biomass030417/> In addition BP owns biomethane production facilities in ], and North Shelby, Tennessee, as well as share of facilities under construction in ] and ].<ref name="Hardcastle17"/> BP's subsidiary Air BP supplies aviation biofuel at ], ], and ] airports.<ref name=aviationpross210817/> | |||
| In 2005, BP committed to spending $8 billion on ] over the next 10 years. {{As of|2011|12}}, it had invested approximately $7 billion in renewable energy,<ref name="UKReutersDec11">{{cite news |title=BP turns out lights at solar business |author=Tom Bergin |author2=Sarah Young |url=http://uk.reuters.com/article/2011/12/21/us-bp-solar-idUKTRE7BK1CC20111221 |work=Reuters UK |date=21 December 2011 |accessdate=21 June 2012}}</ref> including $1.6 billion in 2011 alone.<ref name="Ferris2012"/> According to the company's website, BP plans to invest around $1 billion per year in renewable energy.<ref name="BP AlternativeEnergy"/> | |||
| BP owns a 43% stake in ], a company which focuses on the managing and maintaining ]. {{As of|2017}}, Lightsource has commissioned 1.3 GW of solar capacity and manages about 2 GW of solar capacity. It plans to increase the capacity up to 8 GW through projects in the United States, India, Europe and the Middle East.<ref name=bloomberg151217/><ref name=reuters151217/> BP has invested $20 million in Israeli quick-charging battery firm StoreDot Ltd.<ref name=bloomberg240518/> It operates electric vehicle charging networks in the UK under its subsidiary ], and in China via a joint venture with ].<ref name=icis141020/> | |||
| BP's solar power business ] operated for 40 years, until the company announced its departure from the solar energy market in December 2011, after which the company focused its investment in biofuels and wind energy.<ref name="UKReutersDec11"/><ref name=reuters211211> | |||
| {{cite news | |||
| | agency = Reuters | |||
| | title = BP turns out lights at solar business | |||
| | url= http://www.reuters.com/article/2011/12/21/us-bp-solar-idUSTRE7BK1CC20111221 | |||
| | first1 = Tom | last1 = Bergin | |||
| | first2 = Sarah | last2 = Young | |||
| | date = 21 December 2011 | |||
| | accessdate=2011-12-21}} | |||
| </ref> The company expects that biofuels, particularly cellulosic ethanol, will make up 30% of the gasoline pool by 2030.<ref name="Schiller2012"/> In 2012, BP's closed its subsidiary ] which was to construct a biofuel refinery in ], but continues to operate ethanol facilities in England and Brazil.<ref name=sunshine> | |||
| {{cite news | |||
| | work = Sunshine State News | |||
| | title = BP Changes Ethanol Plans in Florida | |||
| | url= http://www.sunshinestatenews.com/story/bp-changes-ethanol-plans-florida | |||
| | first1 = Michael | last1 = Peltier | |||
| | date = 26 October 2012 | |||
| | accessdate=2012-11-03}} | |||
| </ref> In Brazil, BP owns ethanol and sugar producers ''Companhia Nacional de Açúcar e Álcool'' and holds a 50% stake in ethanol producer ''Tropical BioEnergia''. The company has 13 wind farms in the United States with total gross capacity of 1,955 megawatts.<ref name="BPUSWind"/> | |||
| In partnership with ], BP plans a 50 MV ] at the Lingen refinery to produce hydrogen using North Sea wind power. Production is expected to begin in 2024.<ref name=ft101120/> | |||
| BP's corporate ] activity is managed through Alternative Energy's Emerging Business and Ventures group, which has invested approximately $150 million in growth stage companies that develop ] technologies from 2006 to 2012. According to the company's website, key areas of focus for its renewable energy investments include carbon innovation, ] and electrification.<ref name="BP Ventures">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9040833&contentId=7074806 |title=BP Ventures |publisher=BP |accessdate=4 October 2012}}</ref><ref name="BPUSAlternative">{{cite web |url=http://www.bp.com/sectiongenericarticle.do?categoryId=9030176&contentId=7055742 |title=Alternative energy |publisher=BP |accessdate=8 October 2012}}</ref> Companies that BP has invested in include biotechnology companies Vedrezyne<ref name="CheckBiotech2011">{{cite news |title=Vedrezyne closes new financing round |url=http://bioenergy.checkbiotech.org/news/vedrezyne_closes_new_financing_round |newspaper=CheckBiotech |date=11 May 2011 |accessdate=4 October 2012}}</ref> and Chromatin, both developers of renewable energy feed stocks.<ref name="Herndon2011">{{cite news |title=Chromatin Raises $10 Million as BP and Unilever Become Investors |first=Andrew | last =Herndon |url=http://www.bloomberg.com/news/2011-10-25/chromatin-raises-10-million-as-bp-and-unilever-become-investors.html |agency =Bloomberg |date=25 October 2011 |accessdate=4 October 2012}}</ref> | |||
| BP is a majority shareholder in carbon offset developer Finite Carbon,<ref name=reuters161220/> and acquired 9 GW of US solar projects in 2021.<ref>{{cite web |title=BP acquires 9GW solar pipeline in US in biggest green power deal |url=https://reneweconomy.com.au/bp-acquires-9gw-solar-pipeline-in-us-in-biggest-green-power-deal/ |website=RenewEconomy |language=en-AU |date=2 June 2021}}</ref> | |||
| In 2023, following the announcement of record profits, the company scaled back their emissions targets. Originally, the company promised a 35-40% cut of emissions by the end of the decade. On 7 February, BP revised the target to a 20-30% cut in emissions, stating that it needed to keep up with the current demands for oil and gas.<ref>{{Cite news |date=7 February 2023 |title=BP scales back climate targets as profits hit record |language=en-GB |work=] |url=https://www.bbc.com/news/business-64544110 |access-date=7 February 2023}}</ref> | |||
| ==Corporate affairs== | ==Corporate affairs== | ||
| {{Big Oil}} | |||
| The chairman of the BP board of directors is ] and the ] is ].<ref>{{cite web|url=http://www.bp.com/managedlistingsection.do?categoryId=9021801&contentId=7040608 |title=The Board |publisher=BP |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100603205658/http://www.bp.com/managedlistingsection.do?categoryId=9021801&contentId=7040608| archivedate= 3 June 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| <!-- ===Financial data=== | |||
| === Business trends === | |||
| {| class="wikitable" | |||
| The key trends of BP are (as at the financial year ending December 31):<ref>{{Cite web |title=BP Fundamentalanalyse {{!}} KGV {{!}} Kennzahlen |url=https://www.boerse.de/fundamental-analyse/BP-Aktie/GB0007980591 |access-date=2024-04-06 |website=boerse.de |language=de}}</ref> | |||
| |+ '''Financial data in millions of US$''' | |||
| {| class="wikitable float-left" style="text-align: center;" | |||
| ! Year | |||
| !Year | |||
| ! 2002 | |||
| !Revenue (US$ bn) | |||
| ! 2003 | |||
| !Net income (US$ bn) | |||
| ! 2004 | |||
| !Employees (k) | |||
| ! 2005 | |||
| ! 2006 | |||
| ! 2007 | |||
| ! 2008 | |||
| ! 2009 | |||
| |- | |- | ||
| |2017 | |||
| | Sales | |||
| |240 | |||
| | 180,186 | |||
| |3.4 | |||
| | 236,045 | |||
| |74.7 | |||
| | 294,849 | |||
| | 249,465 | |||
| | 265,906 | |||
| | 284,365 | |||
| | 361,341 | |||
| | 239,272 | |||
| |- | |- | ||
| |2018 | |||
| | ] | |||
| |298 | |||
| | 22,941 | |||
| |9.4 | |||
| | 28,200 | |||
| |75.0 | |||
| | 37,825 | |||
| | 41,453 | |||
| | 44,835 | |||
| | | |||
| | | |||
| | | |||
| |- | |- | ||
| |2019 | |||
| | ] | |||
| |278 | |||
| | 6,845 | |||
| |4.0 | |||
| | 10,267 | |||
| |70.1 | |||
| | 15,961 | |||
| | 22,341 | |||
| | 22,000 | |||
| | 20,845 | |||
| | 21,157 | |||
| | 16,578 | |||
| |- | |- | ||
| |2020 | |||
| | ] | |||
| |180 | |||
| | 20,273 | |||
| |–20.3 | |||
| | 20,193 | |||
| |63.6 | |||
| | 21,607 | |||
| |- | |||
| | 16,202 | |||
| |2021 | |||
| | 16,202 | |||
| | | |164 | ||
| | | |7.6 | ||
| |64.0 | |||
| | | |||
| |- | |||
| |2022 | |||
| |248 | |||
| |–2.5 | |||
| |66.3 | |||
| |- | |||
| |2023 | |||
| |213 | |||
| |15.2 | |||
| |66.5 | |||
| |} | |} | ||
| ::::::''Source : | |||
| ===Management=== | |||
| Comment for editors: The table about financial data is out of date and it is not attributed with body text explaining this topic. Before making it visible, please update it and write a prose for this subsection. | |||
| As of October 2023, the following individuals serve on the ]:<ref>{{cite web |title=The board |url=https://www.bp.com/en/global/corporate/who-we-are/board-and-executive-management/the-board.html |website=bp |access-date=14 July 2023}}</ref> | |||
| --> | |||
| *] (chairman) | |||
| *] (]) | |||
| *Paula Rosput Reynolds (senior independent director) | |||
| *] (independent non-executive director) | |||
| *Pamela Daley (independent non-executive director) | |||
| *Melody Meyer (independent non-executive director) | |||
| *Tushar Morzaria (independent non-executive director) | |||
| *Hina Nagarajan (independent non-executive director) | |||
| *Satish Pai (independent non-executive director) | |||
| *] (independent non-executive director) | |||
| *] (independent non-executive director) | |||
| *] (independent non-executive director) | |||
| *Ben Mathews (company secretary) | |||
| === Past chairmen === | |||
| Past chairmen have included:<ref>{{Cite web |title=Post-war – 1946-1970 {{!}} Who we are {{!}} Home |url=https://www.bp.com/en/global/corporate/who-we-are/our-history/post-war.html |access-date=16 February 2023 |website=bp global |language=en}}</ref><ref>{{Cite web |title=Late century – 1971-1999 {{!}} Who we are {{!}} Home |url=https://www.bp.com/en/global/corporate/who-we-are/our-history/late-century.html |access-date=16 February 2023 |website=bp global |language=en}}</ref><ref>{{Cite web |title=The new millennium – 2000-2012 {{!}} Who we are {{!}} Home |url=https://www.bp.com/en/global/corporate/who-we-are/our-history/the-new-millennium.html |access-date=16 February 2023 |website=bp global |language=en}}</ref> | |||
| *], 1954–1956 | |||
| *], 1956–1957 | |||
| *], 1957–1960 | |||
| *], 1960–1969 | |||
| *], 1969–1975 | |||
| *], 1975–1981 | |||
| *], 1981–1990 | |||
| *], 1990–1992 | |||
| *], 1992–1995 | |||
| *], 1995–1997 | |||
| *], 1997–2009 | |||
| *], 2010–2018 | |||
| *], 2019– | |||
| ===Stock=== | ===Stock=== | ||
| The company's shares are primarily traded on the London Stock Exchange, but also listed on the Frankfurt Stock Exchange in Germany. In the United States shares are traded in US$ on the New York Stock Exchange in the form of ] (ADS). One ADS represents six ordinary shares.<ref name="BPShare">{{cite web|url=http://www.bp.com/sectiongenericarticle.do?categoryId=9038743&contentId=7070796 |title=Share capital |year=2012 |publisher=BP |access-date=11 September 2012 |url-status = dead|archive-url=https://web.archive.org/web/20120815163243/http://www.bp.com/sectiongenericarticle.do?categoryId=9038743&contentId=7070796 |archive-date=15 August 2012 }}</ref> | |||
| Following the United States ]'s approval of the BP-Amoco merger in 1998, Amoco's stock was removed from the ] and was merged with BP shares on the ].<ref name="BBC1998">{{cite news |title=Business: The Company File Green light for BP Amoco |url=http://news.bbc.co.uk/2/hi/business/244864.stm |work=] |date=30 December 1998 |access-date=28 August 2012}}</ref> | |||
| ====Stock history==== | |||
| ] in 2000–2012]] | |||
| The ] sold 80 million shares of BP at $7.58 in 1979 as part of ] privatisation. This sale represented slightly more than 5% of BP’s total shares and reduced the government’s ownership of the company to 46%.<ref name="Globe1979">{{cite news |title=Britons rush to buy oil company shares |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=4MBK-9860-TXJ2-N009&csi=303830&oc=00240&perma=true |newspaper=The Globe and Mail (Canada) |date=10 November 1979 |accessdate=28 August 2012|id = {{subscription required}}}}</ref> Following the worldwide stock market crash in October 1987 Prime Minister ] initiated the sale of an additional $12.2 billion dollars of BP shares, representing the government's remaining 31% stake in the company.<ref name="Lohr1987">{{cite news |title=B.P. Issue to Proceed; Safeguard Put on Price |last1=Lohr |first1=Steve |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=3SJD-NR90-0017-53P2&csi=6742&oc=00240&perma=true |newspaper=The New York Times |date=30 October 1987 |accessdate=28 August 2012|id = {{subscription required}}}}</ref> In November 1987 the Kuwait Investment Office purchased a 10.06% interest in BP, becoming the largest institutional shareholder.<ref name="TorontoStar1987">{{cite news |title=Kuwait buys 10 per cent stake in oil giant British Petroleum |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=3WJ6-08G0-00RK-C451&csi=8286&oc=00240&perma=true |newspaper=Toronto Star |date=19 November 1987 |accessdate=28 August 2012|id = {{subscription required}}}}</ref> The following May, the KIO purchased additional shares, bringing their ownership to 21.6%. This raised concerns within BP that operations in the United States, BP’s primary country of operations, would suffer. In October 1988, the British ] required the KIO to reduce its shares to 9.6% within 12 months.<ref name="OConnor1988">{{cite news |title=Order to Kuwait to reduce BP holdings eases strain in U.S. |last1=O’Connor |first1=Robert |url=http://w3.nexis.com/new/docview/getDocForCuiReq?lni=4PCY-FR10-TWDC-M4GR&csi=11811&oc=00240&perma=true |newspaper=U-T San Diego |date=9 October 1988 |accessdate=28 August 2012|id = {{subscription required}}}}</ref> The KIO is the third largest institutional shareholder {{as of|2012|02|lc=y}}, according to the ''Financial Times''.<ref name="FTShareholders2012">{{cite web |url=https://markets.ft.com/research/Markets/Tearsheets/Business-profile?s=BP.:LSE |title=BP Plc: Institutional shareholders |date=17 February 2012 |work=ft.com/marketsdata |accessdate=18 September 2012}}</ref> | |||
| === Branding and public relations === | |||
| Following the United States’ ]’s approval of the BP-Amoco merger in 1998, Amoco’s stock was removed from ] and was merged with BP shares on the ].<ref name="BBC1998">{{cite news |title=Business: The Company File Green light for BP Amoco |url=http://news.bbc.co.uk/2/hi/business/244864.stm |publisher=BBC News |date=30 December 1998 |accessdate=28 August 2012}}</ref> The merger with Amoco resulted in a 40% increase in share price by April 1999.<ref name="Brierly1999">{{cite news |title=BP strikes it rich in America |last1=Brierly |first1=David |url=http://www.independent.co.uk/news/business/bp-strikes-it-rich-in-america-1084972.html |newspaper=The Independent |date=4 April 1999 |accessdate=28 August 2012}}</ref> However, shares fell nearly 25% by early 2000, when the Federal Trade Commission expressed opposition to BP-Amoco’s acquisition of ARCO.<ref name="NYTFeb2000">{{cite news |title=BP Amoco's 4th-Quarter Profit Doubled on Rise in Oil Prices |url=http://www.nytimes.com/2000/02/16/business/bp-amoco-s-4th-quarter-profit-doubled-on-rise-in-oil-prices.html |newspaper=The New York Times |date=16 February 2000 |accessdate=28 August 2012}}</ref> The acquisition was ultimately approved in April 2000 increasing stock value 57 cents over the previous year.<ref name="CNNMoney2000">{{cite news |title=BP pumps up 2Q profit |url=http://money.cnn.com/2000/08/08/europe/bp/index.htm |newspaper=CNN Money |date=8 August 2000 |accessdate=28 August 2012}}</ref> | |||
| In the first quarter of 2001 the company adopted the marketing name of BP, and replaced its "Green Shield" logo with the "Helios" symbol, a green and yellow sunflower logo named after the ] and designed to represent energy in its many forms. BP introduced a new corporate slogan – "Beyond Petroleum" along with a $200M advertising and marketing campaign.<ref name=Ries>Laura Ries for Ries Pieces. May 2010. </ref><ref name=Landman>Anne Landman ''PR Watch''. 3 May 2010 </ref> According to the company, the new slogan represented their focus on meeting the growing demand for fossil fuels, manufacturing and delivering more advanced products, and to enable transitioning to a lower carbon footprint.<ref>{{cite journal|title=Beyond petroleum |journal=Science |volume=329 |issue=5993 |pages=727 |publisher=BP |bibcode=2010Sci...329..727K |last1=Kennedy |first1=D. |year=2010 |doi=10.1126/science.1194561 |pmid=20705817 |s2cid=206528572 |doi-access= }}</ref> | |||
| By 2008, BP's branding campaign had succeeded with the culmination of a 2007 Effie Award from the ], and consumers had the impression that BP was one of the greenest petroleum companies in the world.<ref>Gregory Solman for Adweek 21 January 2008 </ref> BP was criticised by environmentalists and marketing experts, who stated that the company's alternative energy activities were only a fraction of the company's business at the time.<ref>Stephen A. Greyser for the Harvard Business Review Magazine. 9 June 2010 </ref> According to ], BP's marketing campaign amounted to a deceptive ] public-relations ] given that BP's 2008 budget included more than $20 billion for fossil fuel investment and less than $1.5 billion for all alternative forms of energy.<ref name="Amy Goodman" /><ref name=Kempff> Sub-prime carbon brought to you by AEP, BP, and Pacificorp, Greenpeace 10/2009 pages 4–5 {{Webarchive|url=https://web.archive.org/web/20110628234759/http://www.greenpeace.org/usa/Global/usa/report/2010/1/carbon-scam-noel-kempff-clima.pdf |date=28 June 2011 }}</ref> Oil and energy analyst ] notes BP's investment in green technologies peaked at 4% of its exploratory budget prior to cutbacks, including the discontinuation of BP Solar and the closure of its alternative energy headquarters in London.<ref name=reuters211211/><ref name="Amy Goodman"> | |||
| After the Texas City Refinery explosion in 2005, stock prices again fell. By January 2007, the explosion, coupled with a pipeline spill in Alaska and production delays in the Gulf of Mexico, left BP’s stock down 4.5% from its position prior to the Texas City explosion.<ref name="Franklin2007">{{cite news |title=BP's Browne Failed on Refinery Safety, Panel Reports (Update5) |last1=Franklin |first1=Sonja |url=http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aujLKBLHZtEs&refer=uk |newspaper=Bloomberg |date=19 January 2007 |accessdate=28 August 2012}}</ref> However by April 2007, stocks had rebounded 13% erasing the 8.3% loss from 2006.<ref name="Voss2007">{{cite news |title=BP Profit Falls on Lower Oil, Gas Prices, Production (Update2) |last1=Voss |first1=Stephen |url=http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYu6u0RjdhVY&refer=home |newspaper=Bloomberg |date=24 April 2007 |accessdate=28 August 2012}}</ref> Declining oil prices and concerns over oil sustainability also caused shares to fall in value in late 2008.<ref name="Werdigier2008">{{cite news |title=BP shows ability to navigate volatile oil prices |last1=Werdigier |first1=Julia |url=http://www.nytimes.com/2008/10/28/business/worldbusiness/28iht-oil.4.17320389.html |newspaper=The New York Times |date=28 October 2008 |accessdate=28 August 2012}}</ref> | |||
| {{Cite episode | |||
| | title = BP Funnels Millions into Lobbying to Influence Regulation and Rebrand Image | |||
| | url = http://www.democracynow.org/2010/5/5/bp_funnels_millions_into_lobbying_to | |||
| | series = Amy Goodman's Weekly Column | |||
| | credits = Interviewer: ], Guest: ] | |||
| | network = ] | |||
| | airdate = 5 May 2010}} | |||
| </ref> According to Juhasz, "four percent...hardly qualifies the company to be Beyond Petroleum", citing BP's "aggressive modes of production, whether it's the tar sands offshore".<ref name="Amy Goodman"/> | |||
| 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. In the immediate aftermath of the spill, ], and made many of the same PR errors that Exxon had made after the ''Exxon Valdez'' disaster.<ref>Ann C Mulkern for ''The New York Times''. 10 June 2010 </ref><ref name=Wired>{{cite news|last=Van Buskirk|first=Eliot|title=BP's Social Media Campaign Going About as Well as Capping That Well|url=https://www.wired.com/business/2010/06/bps-social-media-campaign-going-about-as-well-as-capping-that-well/|magazine=Wired|access-date=2 April 2013|date=9 June 2010}}</ref> CEO Tony Hayward was criticised for his statements and had committed several gaffes, including stating that he "wanted his life back."<ref>Suzanne Vranica for the Wall Street Journal. 29 December 2010 </ref> 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.<ref name=Slate2010>Christopher Beam for Slate. 5 May 2010 </ref><ref>Elizabeth Shogren for NPR. 21 April 2011 </ref><ref>Ian Smith for Intelegia. 24 January 2011. {{webarchive|url=https://web.archive.org/web/20130617144304/http://www.intelegia.com/en/2011/01/24/good-content-strategy-or-public-relations/ |date=17 June 2013 }}</ref> | |||
| The Deepwater Horizon oil spill in April 2010 initiated a sharp decline in share prices, and BP’s shares lost roughly 50% of their value in 50 days.<ref name="SmithApril2011">{{cite news |title=BP one year on: How events unfolded |last1=Smith |first1=Hannah |url=http://www.ifaonline.co.uk/ifaonline/news/2044806/bp-events-unfolded |newspaper=IFAonline |date=20 April 2011 |accessdate=28 August 2012}}</ref> BP’s shares reached a low of $26.97 per share on 25 June 2010 totalling a $100 billion loss in market value<ref name="Hays2010">{{cite news |title=BP shares soar as spill spreads |last1=Hays |first1=Kristen |last2=Schnurr |first2=Leah |url=http://uk.reuters.com/article/2010/07/06/uk-oil-spill-idUKTRE64U0OW20100706 |agency=Reuters |date=7 July 2010 |accessdate=28 August 2012}}</ref> before beginning to climb again. Shares reached a post-spill high of $49.50 in early 2011<ref name="PeraltaJuly2012">{{cite news |title=BP Posts $1.4 Billion Loss, Surprising The Market |last1=Peralta |first1=Eyder |url=http://www.npr.org/blogs/thetwo-way/2012/07/31/157678462/bp-posts-1-4-billion-loss-surprising-the-market |publisher=NPR |date=31 July 2012 |accessdate=28 August 2012}}</ref> and as of April 2012 shares remain down approximately 30% from pre-spill levels.<ref name="ReedJuly2012">{{cite news |title=Series of Write-Downs Leads to a Loss at BP |last1=Reed |first1=Stanley |url=http://www.nytimes.com/2012/08/01/business/energy-environment/01iht-bp01.html?_r=1 |newspaper=The New York Times |date=31 July 2012 |accessdate=28 August 2012}}</ref> | |||
| In February 2012 BP North America launched a $500 million branding campaign to rebuild its brand.<ref>Jonathan Morris for Wall St. Cheat Sheet. 3 February 2012 </ref> | |||
| ===Company name=== | |||
| Until 31 December 1998 the company was formally registered as the British Petroleum Company plc. Following a merger with Amoco the company adopted the name BP Amoco plc in January 1999, which was retained until May 2001 when the company was renamed BP p.l.c.<ref>P.R. WEEK, US EDITION, 17 April 2000, P23.</ref> In the first quarter of 2001 the company adopted the marketing name of BP, replaced its "Green Shield" logo with the "Helios" symbol, a green and yellow sunflower pattern, and introduced a new corporate slogan – "Beyond Petroleum". The transition to the name and logo was managed by the advertising agency ] and the PR consultants, Ogilvy PR.<ref>""</ref> The "Helios" logo (] is the name of the Greek sun god), is designed to represent energy in its many forms. BP's tagline, "Beyond Petroleum", according to the company represents their focus on meeting the growing demand for fossil fuels, manufacturing and delivering more advanced products, and enabling the material transition to a lower carbon future.<ref>{{cite web|url=http://www.bp.com/sectiongenericarticle.do?categoryId=9028308&contentId=7019491 |title=Beyond petroleum |publisher=BP |accessdate=6 May 2010|archiveurl=http://web.archive.org/web/20100309024204/http://www.bp.com/sectiongenericarticle.do?categoryId=9028308&contentId=7019491|archivedate = 9 March 2010 | deadurl = yes }}</ref> | |||
| The company's advertising budget was about $5 million per week during the four-month spill in the Gulf of Mexico, totalling nearly $100 million.<ref>{{cite news| url=https://www.huffingtonpost.com/2013/04/16/bp-oil-spill-ads-since-deepwater-horizon_n_3093185.html | work=] | first=Nick | last=Visser | title=WATCH: A History of BP's Ads Since The Gulf Spill | date=16 April 2013}}</ref><ref>{{cite news|author=Shelley DuBois |url=https://money.cnn.com/2010/09/01/news/companies/BP_spill_advertising_costs.fortune/index.htm |title=BP's advertising budget during the spill neared $100 million – Sep. 1, 2010 |publisher=]|date=1 September 2010 |access-date=26 April 2013}}</ref> | |||
| ==Environmental record== | |||
| BP was named by ] as one of the ten worst corporations in both 2001 and 2005 based on its environmental and human rights records.<ref>{{cite web|url=http://www.multinationalmonitor.org/mm2005/112005/mokhiber.html |title=The 10 Worst Corporations of 2005 |publisher=Multinationalmonitor.org |date=14 October 2005 |accessdate=5 June 2010}}</ref> In 1991 BP was cited as the most polluting company in the US based on EPA toxic release data. In 2007, the ] announced that BP had agreed to plead guilty to a felony violation of the ] for its conduct that resulted in the fatal explosion on 23 March 2005 at the Texas City Refinery. As part of the guilty plea BP agreed to pay a $50 million criminal fine, the largest ever assessed under the Clean Air Act.<ref name="justice.gov"></ref> | |||
| In May 2012, BP tasked a press office staff member to openly join discussions on the Misplaced Pages article's talk page and suggest content to be posted by other editors.<ref>] for Motherboard. 2 April 2013. {{webarchive|url=https://web.archive.org/web/20130403142317/http://motherboard.vice.com/blog/meet-the-pr-guru-who-wants-to-help-corporations-get-heard-on-wikipedia |date=3 April 2013 }}</ref> Controversy emerged in 2013 over the amount of content from BP that had entered this article.<ref name="zdnet2013">Violet Blue, , ZDNet, 27 March 2013. Retrieved 28 March 2013</ref><ref>Natasha Lennard . Retrieved 28 March 2013</ref> Misplaced Pages co-founder ] stated that, by identifying himself as a BP staff member, the contributor in question had complied with site policy regarding conflicts of interest.<ref name="zdnet2013" /> | |||
| ===Environmental initiatives=== | |||
| BP was a founding sponsor of the ]'s ] in 1971.<ref>{{Cite book|author=Michael Sanderson |url=http://books.google.co.uk/books?id=50HjSi5o8J0C&pg=PA285#v=onepage&q&f=false |title=The History of the University of East Anglia |publisher=Hambledon and London |year=2002 |accessdate=15 October 2010}}</ref> | |||
| === Integrity and compliance === | |||
| In 1997 BP became the first multinational outside the reinsurance industry to publicly support the scientific consensus on ], which Eileen Caussen, President of the ] described as a transformative moment on the issue.<ref>{{cite book|last=Cornelissen|first=Joep|title=Corporate Communications: Theory and Practice|year=2004|publisher=SAGE|isbn=0761944362|page=51|url=http://books.google.com/books?id=VWVOhNxeLpEC&printsec=frontcover#v=onepage&q&f=false}}</ref> Prior to 1997, BP was a member of the ] an industry organisation established to promote ] but withdrew in 1997, saying "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. We in BP have reached that point.".<ref name="Stanford GSB">{{Cite news|url=http://www.gsb.stanford.edu/community/bmag/sbsm0997/feature_ranks.html |title=Breaking Ranks |publisher=Stanford Graduate School of Business |archiveurl=http://web.archive.org/web-cdx/20121120185906/http://www.gsb.stanford.edu/community/bmag/sbsm0997/feature_ranks.html |archivedate=20 November 2012 |accessdate=12 February 2013}}</ref> | |||
| Investigative journalism by ] and Africa Eye aired in June 2019 criticising BP for the way in which it had obtained the development rights of Cayar Offshore Profond and St. Louis Offshore Profond blocks, off the coast of ] in 2017. In 2012, a ] 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. Soon after, Aliou Sall, brother of Senegal's president, ], was hired at the company, implying a conflict of interest,<ref name=":1">{{Cite news|url=https://uk.reuters.com/article/uk-senegal-politics-energy/senegal-justice-ministry-calls-for-inquiry-into-energy-contracts-idUKKCN1TB29Z|archive-url=https://web.archive.org/web/20190610204949/https://uk.reuters.com/article/uk-senegal-politics-energy/senegal-justice-ministry-calls-for-inquiry-into-energy-contracts-idUKKCN1TB29Z|url-status=dead|archive-date=10 June 2019|title=Senegal justice ministry calls for inquiry into energy contracts|date=10 June 2019|work=]|access-date=16 June 2019}}</ref> causing public outrage in Senegal. The 2019 program by BBC Panorama and Africa Eye accuses BP of a failure in ] when it agreed on a deal with Timis Corporation in 2017. The deal by BP is expected to provide substantial royalties to Frank Timiș despite accusations of initially obtaining the exploration rights through corruption. ] was also implicated.<ref>{{Cite web|url=http://www.kosmosenergy.com/latest-news/response-to-bbc-panorama/|title=Response to BBC Panorama|date=6 June 2019|website=Kosmos Energy {{!}} Deepwater Exploration and Production|language=en-US|access-date=16 June 2019}}</ref> BP refutes any implications of improper conduct. Regarding the acquisition of Timis Corporation interests in Senegal in April 2017, BP states that it "paid what it considered a fair market value for the interests at this stage of exploration/development". However, BP has not made public what was the basis of the valuation, and states that "the details of the deal are confidential".<ref>{{Cite news|url=https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/what-we-do/worldwide/bbc-panorama-response-english.pdf|title=BP Response to BBC Panorama Programme|date=6 June 2019|work=BP Press Release|access-date=16 June 2019}}</ref> BP argues that "the amount which would be paid separately by BP to Timis Corporation would be less than one percent of what the Republic of Senegal would receive". Senegal's justice ministry has called an inquiry into the energy contracts.<ref name=":1" /> | |||
| === LGBTQ recognition === | |||
| In March 2002, Lord John Browne, the group chief executive of BP, declared in a speech that ] was real and that urgent action was needed, saying that "Companies composed of highly skilled and trained people can't live in denial of mounting evidence gathered by hundreds of the most reputable scientists in the world."<ref>{{cite web|publisher=mindfully.org |url=http://www.mindfully.org/Industry/BP-How-Green8dec02.htm |title=How green is BP? |publisher=Mindfully.org |date=13 February 2001 |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100620070445/http://www.mindfully.org/Industry/BP-How-Green8dec02.htm| archivedate= 20 June 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| In 2014, BP backed a global study researching challenges for lesbian, gay, bisexual and transgender employees and for ways that companies can be a "force for change" for LGBT workers around the world.<ref name="FT14">{{cite news |title=BP backs global discrimination research |url=https://www.ft.com/content/6c0d3d2a-924d-11e3-9e43-00144feab7de |newspaper=] |date=10 February 2014 |access-date=7 November 2017}}</ref> In 2015, ] wrote that BP is "known for their more liberal policies for gay and transgender workers".<ref name="Driver15">{{cite news |title=Exxon adds discrimination protections in U.S. for LGBT workers |last1=Driver |first1=Anna |url=https://www.reuters.com/article/us-exxon-lgbt/exxon-adds-discrimination-protections-in-u-s-for-lgbt-workers-idUSKBN0L32D420150130 |newspaper=] |date=30 January 2015 |access-date=7 November 2017}}</ref> A 2016 article in the ''Houston Chronicle'' said BP was "among the first major companies in the United States to offer LGBT workers equal protection and benefits roughly 20 years ago".<ref>{{cite news |title=In energy sector, coming out 'can put you at risk' |last1=Blum |first1=Jordan |url=http://www.houstonchronicle.com/news/houston-texas/houston/article/In-energy-sector-coming-out-can-put-you-at-risk-6764343.php |newspaper=] |date=16 January 2016 |access-date=7 November 2017}}</ref> BP scored a 100% on the 2018 Human Rights Campaign's Corporate Equality Index, which was released in 2017, although this was the most common score.<ref name="EqualityIndex18">{{cite web |url=https://assets2.hrc.org/files/assets/resources/CEI-2018-FullReport.pdf?_ga=2.206231312.2055568906.1510934209-601590341.1510934209 |title=Corporate Equality Index 2018 |publisher=] |access-date=17 November 2017}}</ref> Also in 2017, BP added gender reassignment surgery to its list of benefits for U.S. employees.<ref name="Hunn17">{{cite news |title=BP boosts benefits, includes gender reassignment surgery |last1=Hunn |first1=David |url=http://www.chron.com/business/energy/article/BP-boosts-benefits-includes-gender-reassignment-11172800.php |newspaper=] |date=26 May 2017 |access-date=7 November 2017}}</ref> According to the Human Rights Campaign, BP is one of only a few oil and gas companies offering transgender benefits to its employees.<ref name="Hunn17" /> BP ranked No. 51 on the list of Top 100 employers for lesbian, gay, bisexual and transgender staff on the 2017 Stonewall Workplace Equality Index.<ref name="SWEI">{{cite web |url=http://www.stonewall.org.uk/sites/default/files/top_100_employers_2017-web_0.pdf |title=Stonewall Workplace Equality Index |publisher=Stonewall |access-date=7 November 2017 |archive-url=https://web.archive.org/web/20180205103741/http://www.stonewall.org.uk/sites/default/files/top_100_employers_2017-web_0.pdf |archive-date=5 February 2018 |url-status=dead }}</ref> Also in 2017, John Mingé, chairman and president of BP America, signed a letter alongside other Houston oil executives denouncing the proposed "bathroom bill" in Texas.<ref name="Andrews17">{{cite news |title=Houston oil executives join Dallas business leaders in denouncing Texas 'bathroom bill' |last1=Andrews |first1=Travis M. |url=https://www.washingtonpost.com/news/morning-mix/wp/2017/08/01/houston-oil-executives-join-dallas-business-leaders-in-denouncing-texas-bathroom-bill/ |newspaper=] |date=1 August 2017 |access-date=7 November 2017}}</ref> | |||
| ==Environmental record== | |||
| BP's 2007 Sustainability Report said that "BP Alternative Energy plans to invest around $8 billion over 10 years in alternative and renewable energy technologies."<ref></ref>{{rp|3}} and in the same year announced a $500 million grant to the ], ], and the ], to create an ].<ref name="EBI_news">{{cite web|url=http://www.berkeley.edu/news/media/releases/2007/02/01_ebi.shtml|title=BP selects UC Berkeley to lead $500 million energy research consortium | |||
| |publisher=]|accessdate=2013-03-23|last=Sanders|first=Robert|date=2007-02-01}}</ref> BP's funding of the institute has come under attack over concerns about the global impacts of the research and privatisation of public universities.<ref>Staff, Essential Action. </ref><ref>Rex Dalton, Nature News. February 14, 2007. Nature 445, 688-689</ref> | |||
| ===Climate policy=== | |||
| In 2009, Tony Hayward apparently shifted gears from former chief executive Lord Browne's focus on alternative energy, announcing that safety was the company's "number one priority".<ref></ref> | |||
| Prior to 1997, BP was a member of the ], an industry organisation established to promote ], but withdrew in 1997, saying "the time to consider the policy dimensions of ] is not when the link between ]es 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. We in BP have reached that point.".<ref>{{cite web |title=Climate Change Speech By John Browne, Group Chief Executive, British Petroleum (BP America) Stanford University, 19 May 1997 |url=http://www.jayhanson.us/page106.htm |work=From Capitalism To Democracy |access-date=28 October 2013 |archive-date=31 October 2020 |archive-url=https://web.archive.org/web/20201031153114/https://www.jayhanson.us/page106.htm |url-status=dead }}</ref><ref name="Stanford GSB">{{Cite news|url=http://www.gsb.stanford.edu/community/bmag/sbsm0997/feature_ranks.html |title=Breaking Ranks |publisher=Stanford Graduate School of Business |archive-url=https://web.archive.org/web/20121006112452/http://www.gsb.stanford.edu/community/bmag/sbsm0997/feature_ranks.html |archive-date=6 October 2012 |access-date=12 February 2013}}</ref> BP was distinguished as the first multinational outside of the reinsurance industry to publicly support the ], which ] president ] then described as a transformative moment on the issue.<ref>{{cite book|last=Cornelissen|first=Joep|title=Corporate Communications: Theory and Practice|year=2004|publisher=SAGE|isbn=978-0761944362|page=51|url=https://books.google.com/books?id=VWVOhNxeLpEC}}</ref> In March 2002, Lord John Browne, the group chief executive of BP that time, declared in a speech that ] was real and that urgent action was needed.<ref name=nyt050610>{{cite news |last=Frey |first=Darcy |title=How green is BP? | newspaper = ] | url=https://www.nytimes.com/2002/12/08/magazine/how-green-is-bp.html |date=8 December 2002 |access-date=5 June 2010}}</ref> Notwithstanding this, from 1988 to 2015 BP was responsible for 1.53% of global industrial greenhouse gas emissions.<ref name=guardian100717/> In 2015, BP was listed by the UK-based non-profit organisation Influence Map as the fiercest opponent of action on climate change in Europe.<ref name=guardian050610>{{cite news |last= Neslen |first= Arthur | title = BP tops the list of firms obstructing climate action in Europe | newspaper = ] | url = https://www.theguardian.com/environment/2015/sep/21/bp-tops-the-list-of-firms-obstructing-climate-action-in-europe |date= 21 September 2015 |access-date = 25 October 2020}}</ref> In 2018, BP was the largest contributor to the campaign opposing ] in Washington State.<ref>{{cite news |last1=Times |first1=Seattle |title=Carbon-fee opponents raise record $25.8M to defeat I-1631 |url=https://www.seattletimes.com/seattle-news/politics/carbon-fee-opponents-raise-record-25-8m-to-defeat-i-1631/ |access-date=23 October 2018}}</ref> Robert Allendorfer, manager of BP's Cherry Point refinery, wrote the following in a letter to state lawmakers: " would exempt six of the ten largest stationary source emitters in the state, including a coal-fired power plant, an aluminum smelter, and a number of pulp and paper plants."<ref>{{cite news |title=E&E News |url=https://www.eenews.net/stories/1060095019 |access-date=23 October 2018}}</ref> According to a 2019 ] ranking, BP was the 6th largest emitter of greenhouse gases in the world.<ref name=guardian>{{Cite news|last1=Taylor|first1=Matthew|last2=Watts|first2=Jonathan|date=9 October 2019|title=Revealed: the 20 firms behind a third of all carbon emissions | newspaper =]|url=https://www.theguardian.com/environment/2019/oct/09/revealed-20-firms-third-carbon-emissions|access-date=14 June 2020}}</ref> | |||
| In February 2020, BP set a goal to cut its greenhouse gas emissions to net-zero by 2050. BP is seeking ] ] across its operations and the fuels the company sells, including emissions from cars, homes, and factories.<ref name="LooneyCEO"/><ref name="LAT-Emissions"/><ref name=guardian120220/> Details on the scope of this and how this will be achieved are publicly limited.<ref>{{Cite news|last=Marchese|first=David Hodari and Adriano|url=https://www.wsj.com/articles/bp-wants-to-be-carbon-neutral-by-2050-11581517147|title=BP Wants to Become Carbon Neutral by 2050, but Doesn't Say How|date=12 February 2020|newspaper=]|access-date=20 February 2020|issn=0099-9660|url-access=subscription}}</ref> BP said that it is restructuring its operations into four business groups to meet these goals: production and operations; customers and products; gas and low carbon; and innovation and engineering.<ref name="LooneyCEO"/> The company discontinued involvement with ], ], and Western Energy Alliance, involved in lobbying government within the United States, because of differences of position on the issue of methane and carbon policies, as a development of this new commitment.<ref name=sky260220/><ref name=bloomberg260220/> However, an investigation conducted by Unearthed, an investigations unit of ], and ] unveiled eight anti-climate trade associations BP failed to disclose, including Alliance of Western Energy Consumers, ], ], and the ], among others.<ref name=huffpost280920/> | |||
| ===Accusations of greenwashing=== | |||
| According to activist ], BP's investment in green technologies peaked at 4% of its exploratory budget prior to cutbacks, including the discontinuation of the ] and the closure of the alternative energy headquarters in London.<ref></ref><ref name="Amy Goodman">{{Cite episode | |||
| | title = BP Funnels Millions into Lobbying to Influence Regulation and Re-Brand Image | |||
| | url = http://www.democracynow.org/2010/5/5/bp_funnels_millions_into_lobbying_to | |||
| | series = Amy Goodman's Weekly Column | |||
| | serieslink = | |||
| | credits = Interviewer: ], Guest: Antonia Juhasz | |||
| | network = ] | |||
| | airdate = 5 May 2010}} | |||
| </ref> Juhasz claims this amounts to an exercise in ].<ref name="Amy Goodman" /> ] has questioned BP branding itself "Beyond Petroleum", citing its 2008 budget which included $20 billion in fossil fuel investment and $1.5 billion in all alternative forms of energy.<ref name=Kempff> Sub-prime carbon brought to you by AEP, BP, and Pacificorp, Greenpeace 10/2009 pages 4–5</ref> | |||
| In August 2020, BP America's chairman David Lawler criticised elimination of federal requirements to install equipment to detect and fix ] by saying that "direct federal regulation of ] is essential to preventing leaks throughout the industry and protecting the environment."<ref>{{cite web|first1=Rachel|last1=Frazin|accessdate=18 April 2021|title=Major oil companies oppose EPA methane rollback|url=https://thehill.com/policy/energy-environment/512097-oil-majors-oppose-epa-methane-rollback|date=14 August 2020|website=]}}</ref> BP is also a founding member of ], an industry consortium that aims to drive methane reductions throughout the global energy supply chain.<ref>{{cite web|url=https://unece.org/fileadmin/DAM/energy/se/pp/geg/geg5_ws_March2018/Sue-Ern.Tan_4_Shell.pdf |title=Methane Guiding Principles and OGCI|access-date=23 September 2024}}</ref> | |||
| === Hazardous substance dumping 1993–1995 === | |||
| In September 1999, one of BP’s US subsidiaries, BP Exploration Alaska (BPXA), agreed to resolve charges related to the illegal dumping of hazardous wastes on the ], for $22 million. The settlement included the maximum $500,000 criminal fine, $6.5 million in civil penalties, and BP’s establishment of a $15 million environmental management system at all of BP facilities in the US and Gulf of Mexico that are engaged in oil exploration, drilling or production. The charges stemmed from the 1993 to 1995 dumping of hazardous wastes on ], Alaska by BP’s contractor Doyon Drilling. The firm illegally discharged waste oil, paint thinner and other toxic and hazardous substances by injecting them down the outer rim, or annuli, of the oil wells. BPXA failed to report the illegal injections when it learned of the conduct, in violation of the ].<ref>{{Cite news|url=http://yosemite.epa.gov/opa/admpress.nsf/016bcfb1deb9fecd85256aca005d74df/5d61856989631e20852567f6004bbbff?OpenDocument |title=BP Exploration Pleads Guilty To Hazardous Substance Crime Will Pay $22 Million, Establish Nationwide Environmental Management System |publisher=United States Environmental Protection Agency |date=23 September 1999 |accessdate=11 June 2010| archiveurl= http://web.archive.org/web/20100705140015/http://yosemite.epa.gov/opa/admpress.nsf/016bcfb1deb9fecd85256aca005d74df/5d61856989631e20852567f6004bbbff?OpenDocument| archivedate= 5 July 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| In BP's Energy Outlook 2020, BP stated that the changing energy landscape coupled with the ] means that the global crude demand ]. All three scenarios in the outlook see the consumption of coal, oil, and natural gas dropping while the role of renewable energy will soar. BP was also attempting to move from being an international oil company into becoming an integrated energy company that would focus on low-carbon technologies while also setting a target to reduce its overall oil and gas production by 40% by 2030.<ref> ''Journal of Petroleum Technology'', 14 September 2020</ref> This plan was scrapped in October 2024, with BP looking to increase its oil and gas production instead.<ref name=":4" /> | |||
| ===Prudhoe Bay 2006–2007=== | |||
| ]]] | |||
| {{Main|Prudhoe Bay oil spill}} | |||
| In 2021, BP was ranked as the 5th most environmentally responsible company out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).<ref>{{cite journal|last1=Overland|first1= I.|last2= Bourmistrov|first2= A.|last3=Dale|first3= B.|last4=Irlbacher-Fox|first4=S.|last5=Juraev|first5=J.|last6=Podgaiskii|first6=E|last7=Stammler|first7=F.|last8=Tsani|first8=S.|last9=Vakulchuk|first9=R.|last10= Wilson|first10=E.C.|year=2021|title=The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. ''Business Strategy and the Environment''. 30|journal= Business Strategy and the Environment|volume= 30|issue= 4|pages=1623–1643|doi= 10.1002/bse.2698|s2cid= 233618866|url=https://onlinelibrary.wiley.com/doi/10.1002/bse.2698|hdl=11250/2833568|hdl-access=free}}</ref> | |||
| In March 2006, corrosion of a BP Exploration Alaska oil transit pipeline in ] transporting oil to the ] led to a five-day leak and the largest oil spill on ].<ref name="Roach2006">{{Cite news |url=http://news.nationalgeographic.com/news/2006/03/0320_060320_alaska_oil.html |title=Alaska Oil Spill Fuels Concerns Over Arctic Wildlife, Future Drilling |newspaper = ] |first = John| last = Roach | date = 20 March 2006 |accessdate=5 June 2010}}</ref> According to the Alaska Department of Environmental Conservation (ADEC), a total of {{convert|212252|USgal|oilbbl m3}} of oil was spilled, covering {{convert|2|acre}} of the North Slope.<ref name="ADECMar2008">{{cite web |url=http://www.dec.state.ak.us/SPAR/PERP/response/sum_fy06/060302301/sitreps/060302301_sr_23.pdf |title=GC-2 Oil Transit Line Release Situation Report |date=28 March 2008 |work=dec.state.ak.us |publisher=Alaska Department of Environmental Conservation |accessdate=21 January 2013}}</ref> BP admitted that cost cutting measures had resulted in a lapse in monitoring and maintenance of the pipeline and the consequent leak. At the moment of the leak, ] (known as "pigs") had not been run through the pipeline since 1998.<ref name="Baltimore2007">{{cite news |title=BP admits budget a factor in Alaska spill |author=Chris Baltimore |coauthors=Robert Campbell |url=http://uk.reuters.com/article/2007/05/16/uk-bp-alaska-congress-idUKN1619278420070516 |work=Reuters UK |date=16 May 2007 |accessdate=21 January 2013}}</ref><ref name="Rosen2007"/><ref>{{Cite news|author=Andrew Clark in New York |url=http://www.guardian.co.uk/environment/2007/may/01/energy.business |title=BP accused of 'draconian' cost cuts prior to Alaskan pipeline spill |work=The Guardian |date= 1 May 2007|accessdate=5 June 2010 | location=London}}</ref><ref>{{cite journal |url=http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/16/8388595/index.htm |title=Can BP bounce back? A disastrous leak. A deadly explosion. CEO John Browne must turn his troubled oil giant around, but time is running out. |last=Schwartz |first=Nelson D. |date=31 October 2006 |work=Fortune |publisher=CNN Money |accessdate=17 March 2013}}</ref> BP completed the cleanup of the spill by May 2006, including removal of contaminated gravel and vegetation, which was replaced with new material from the Arctic tundra.<ref name="ADECMar2008"/><ref name="Benschoten2006">{{cite news |title=BP Prudhoe Bay Oil Leak Cleanup Completed |author=Andrea Lyn Van Benschoten |url=http://www.manufacturing.net/articles/2006/05/bp-prudhoe-bay-oil-leak-cleanup-completed?menuid=272 |work=Manufacturing.net |date=22 May 2006 |accessdate=22 January 2013}}</ref> | |||
| In December 2022, ] Chair ] and ] Chair ] sent a memorandum to all House Oversight and Reform Committee members summarizing additional findings from the Committee's investigation into the fossil fuel industry disinformation campaign to obscure the role of fossil fuels in causing global warming, and that upon reviewing internal company documents, accused BP along with ], ], and ] of ] their ] ] pledges while continuing long-term investment in fossil fuel production and sales, for engaging in a campaign to promote the use of natural gas as a clean energy source and bridge fuel to renewable energy, and of intimidating journalists reporting about the companies' climate actions and of obstructing the Committee's investigation.<ref>{{cite news|last=Clifford|first=Catherine|date=9 December 2022|title=Democratic lawmakers accuse big oil companies of 'greenwashing'|publisher=]|url=https://www.cnbc.com/2022/12/09/democratic-lawmakers-accuse-big-oil-of-greenwashing.html|access-date=10 December 2022}}</ref><ref>{{cite report|last1=Maloney|first1=Carolyn|last2=Khanna|first2=Ro|title=MEMORANDUM – Re: Investigation of Fossil Fuel Industry Disinformation|date=9 December 2022|publisher=U.S. House Oversight and Reform Committee|url=https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-12-09.COR_Supplemental_Memo-Fossil_Fuel_Industry_Disinformation.pdf|access-date=10 December 2022|archive-date=28 December 2022|archive-url=https://web.archive.org/web/20221228070207/https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-12-09.COR_Supplemental_Memo-Fossil_Fuel_Industry_Disinformation.pdf|url-status=dead}}</ref><ref>{{cite episode|title=The Power of Big Oil|title-link=The Power of Big Oil|series=FRONTLINE|series-link=Frontline (American TV program)|network=]|station=]|season=40|number=10–12|url=https://www.pbs.org/wgbh/frontline/film/the-power-of-big-oil/|access-date=8 July 2022}}</ref> | |||
| Following the spill, the company was ordered by regulators to inspect the {{convert|35|km}} of pipelines in Prudhoe Bay using "smart pigs".<ref name="Kleiner2006">{{cite news |title=Bacteria may have eaten through Alaskan oil pipe |author=Kurt Kleiner |url=http://www.newscientist.com/article/dn9703-bacteria-may-have-eaten-through-alaskan-oil-pipe.html |work=New Scientist |date=9 August 2006 |accessdate=20 January 2013}}</ref> In late July 2006, the "smart pigs" monitoring the pipelines found 16 places where corrosion had thinned pipeline walls. A BP crew sent to inspect the pipe in early August discovered a leak and small spill,<ref name="Isidore2006">{{cite news |title=New worry for drivers: BP shuts oilfield |author=Chris Isidore |url=http://money.cnn.com/2006/08/07/news/international/oil_alaska/ |work=CNN Money |date=8 August 2006 |accessdate=21 January 2013}}</ref><ref name="Kleiner2006"/> following which, BP announced that the eastern portion of the Alaskan field would be shut down for repairs on the pipeline,<ref name="Isidore2006"/><ref name="Zibel2007">{{cite news |title=BP shuts 100,000 barrels of Alaska oil |author=Alan Zibel |url=http://usatoday30.usatoday.com/money/economy/2007-05-22-2959368754_x.htm |work=USA Today |date=22 May 2007 |accessdate=21 January 2013}}</ref> with approval from the ]. The shutdown resulted in a reduction of {{convert|200000|oilbbl/d|m3/d}} until work began to bring the eastern field to full production on 2 October 2006.<ref name="Alaska Update">{{Cite news|url=http://usresponse.bp.com/go/doc/1249/132386/ |title=Alaska Update |publisher=BP |date=2 October 2006|id={{required subscription}}}}</ref> In total, {{convert|23|oilbbl|m3}} of oil were spilled and {{convert|176|oilbbl|m3}} were "contained and recovered", according to ADEC. The spill was cleaned up and there was no impact upon wildlife.<ref name="ADECAug2006">{{cite web |url=http://dec.alaska.gov/spar/perp/response/sum_fy07/060806301/060806301_sr_05.pdf |title=Flow Station 2 Transit Oil Line Release Situation Report |date=14 August 2006 |work=dec.state.ak.us |publisher=Alaska Department of Environmental Conservation |accessdate=21 January 2013}}</ref> | |||
| After initially pledging to reduce its emissions by 35% by 2030, BP stated in 2023 that it would aim for a 20-30% reduction instead.<ref>{{Cite news |last=Noor |first=Dharna |date=16 July 2023 |title=Big oil quietly walks back on climate pledges as global heat records tumble |language=en-GB |work=]|url=https://www.theguardian.com/us-news/2023/jul/16/big-oil-climate-pledges-extreme-heat-fossil-fuel |issn=0261-3077}}</ref> | |||
| After the shutdown, BP pledged to replace {{convert|26|km}} of its Alaskan oil transit pipelines<ref name="Nelson2007">{{cite news |title=BP replacing entire transit system |author=Kristen Nelson |url=http://www.petroleumnews.com/pntruncate/954556022.shtml |work=Petroleum News |date=18 February 2007 |accessdate=22 January 2013}}</ref><ref name="HeraldMar2008">{{cite news |title=BP to start replacing Alaska pipelines |author= |url=http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=afa03605-518e-4450-844b-234254a762ed |work=Calgary Herald |date=1 March 2008 |accessdate=22 January 2013}}</ref> and the company completed work on the {{convert|16|mi|sp=us}} of new pipeline by the end of 2008.<ref name="BPPrudhoeBayFact">{{cite web |url=http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/A/abp_wwd_alaska_prudhoe_bay_fact_sheet.pdf |title=Greater Prudhoe Bay |date=2012 |work=bp.com |publisher=BP |accessdate=22 January 2013}}</ref> In November 2007, BP pled guilty to a misdemeanor violation of the Clean Water Act and paid a $20 million fine for the March 2006 oil spill. There was no charge brought for the smaller spill in August 2006 due to BP's quick response and cleanup.<ref name="Rosen2007">{{cite news |title=BP set to plead in Prudhoe Bay pipeline case |author=Yereth Rosen |url=http://uk.reuters.com/article/2007/11/29/uk-bp-alaska-idUKN2864909420071129 |work=Reuters UK |date=29 November 2007 |accessdate=21 January 2013}}</ref> | |||
| === Indigenous rights === | |||
| On 16 October 2007, ADEC officials reported a "toxic spill" from a BP pipeline in Prudhoe Bay comprising {{convert|2000|USgal}} of primarily ] mixed with crude oil and water, which spilled onto a gravel pad and frozen tundra pond.<ref name="ktuu">{{Cite news|url=http://www.ktuu.com/Global/story.asp?S=7221594 |archiveurl=http://web.archive.org/web/20071113155521/http://www.ktuu.com/Global/story.asp?S=7221594 |archivedate=13 November 2007 |title=Methanol and crude spill from Prudhoe Bay pipeline |publisher=2 News KTUU.com |agency=Associated Press |date=16 October 2007 |accessdate=11 June 2010}}</ref> | |||
| In a 2016 study, conducted by ] of ] 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. The ranking of companies took into account 20 criteria, such as the companies' commitments to international standards, the presence of organisational units dedicated to handling indigenous rights, competent staffing, track records on indigenous issues, transparency, and procedures for consulting with indigenous peoples, but the actual performance of companies on indigenous rights was not assessed.<ref>{{Cite web|url=https://www.researchgate.net/publication/313474088|title=Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic|last=Øverland|first=Indra|author-link= Indra Øverland| date= December 2016| publisher= ] |access-date=2 August 2018}}</ref> | |||
| === {{anchor|1993.E2.80.931995:_Hazardous_substance_dumping}}Hazardous substance dumping 1993–1995 === | |||
| ===Colombian farmland damages claim=== | |||
| In September 1999, one of BP's US subsidiaries, BP Exploration Alaska (BPXA), pleaded guilty to criminal charges stemming from its illegally dumping of hazardous wastes on the ], paying fines and penalties totalling $22 million. BP paid the maximum $500,000 in criminal fines, $6.5 million in civil penalties, and established a $15 million environmental management system at all of BP facilities in the US and Gulf of Mexico that are engaged in oil exploration, drilling or production. The charges stemmed from the 1993 to 1995 dumping of hazardous wastes on ], Alaska by BP's contractor Doyon Drilling. The firm illegally discharged ], paint thinner and other toxic and hazardous substances by injecting them down the outer rim, or annuli, of the oil wells. BPXA failed to report the illegal injections when it learned of the conduct, in violation of the ].<ref>{{Cite news|url=http://yosemite.epa.gov/opa/admpress.nsf/016bcfb1deb9fecd85256aca005d74df/5d61856989631e20852567f6004bbbff?OpenDocument |title=BP Exploration Pleads Guilty To Hazardous Substance Crime Will Pay $22 Million, Establish Nationwide Environmental Management System |publisher=United States Environmental Protection Agency |date=23 September 1999 |access-date=11 June 2010| archive-url= https://web.archive.org/web/20100705140015/http://yosemite.epa.gov/opa/admpress.nsf/016bcfb1deb9fecd85256aca005d74df/5d61856989631e20852567f6004bbbff?OpenDocument| archive-date= 5 July 2010 |url-status = live}}</ref> | |||
| In 2009, a group of 95 ]n farmers filed a suit against BP, claiming the company's ] caused landslides and damage to soil and groundwater, affecting crops, livestock, and contaminating water supplies, making fish ponds unsustainable. Most of the land traversed by the pipeline was owned by peasant farmers who were illiterate and unable to read the environmental impact assessment conducted by BP prior to construction, which acknowledged significant and widespread risks of damage to the land.<ref></ref> | |||
| ===Air pollution violations=== | |||
| In 2006, another group of Colombian farmers reached a multimillion dollar out-of-court settlement with BP for alleged environmental damage caused by the Ocensa pipeline.<ref></ref> An agreed statement said: "The Colombian farmers group are pleased to say that after a mediation process which took place in Bogotá in June 2006 at the joint initiative of the parties, an amicable settlement of the dispute in relation to the Ocensa pipeline has been reached, with no admissions of liability." The company was accused of benefiting from a regime of terror carried out by Colombian government paramilitaries to protect the {{convert|450|mi|km|sing=on}} Ocensa pipeline; BP insisted throughout that it has acted responsibly and that landowners were fairly compensated.<ref>{{Cite news|url=http://www.independent.co.uk/news/world/americas/bp-pays-out-millions-to-colombian-farmers-408816.html|title=BP pays out millions to Colombian farmers |work=The Independent |location=London |date=22 July 2006 |accessdate=5 June 2010 | first=Robert | last=Verkaik| archiveurl= http://web.archive.org/web/20100617065629/http://www.independent.co.uk/news/world/americas/bp-pays-out-millions-to-colombian-farmers-408816.html| archivedate= 17 June 2010 <!--DASHBot-->| deadurl= no}}</ref> | |||
| In 2000, BP Amoco acquired ARCO, a Los Angeles-based oil group.<ref name="independent.co.uk"/> | |||
| In 2003, California's ] (AQMD) filed a complaint against BP/ARCO, seeking $319 million in penalties for thousands of air pollution violations over an 8-year period.<ref>{{cite web|url=http://www.aqmd.gov/news1/2003/bp_lawsuitpr.html |title=AQMD Seeks $319 Million Fine from BP for Air Pollution Violations |publisher=Aqmd.gov |access-date=26 April 2013 |url-status = dead|archive-url=https://web.archive.org/web/20130510161921/http://www.aqmd.gov/news1/2003/bp_lawsuitpr.html |archive-date=10 May 2013 }}</ref> In January 2005, the agency filed a second suit against BP based on violations between August 2002 and October 2004. The suit alleged that BP illegally released air pollutants by failing to adequately inspect, maintain, repair and properly operate thousands of pieces of equipment across the refinery as required by AQMD regulations. 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.<ref>{{cite web|url=http://www.aqmd.gov/news1/2005/bp%20lawsuit%202005.html |title=AQMD Files $183 Million Lawsuit Against BP for Air Pollution Violations |publisher=Aqmd.gov |date=20 January 2005 |access-date=26 April 2013 |url-status = dead|archive-url=https://web.archive.org/web/20130510160809/http://www.aqmd.gov/news1/2005/BP%20Lawsuit%202005.html |archive-date=10 May 2013 }}</ref> 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.<ref>{{cite web|url=http://www.aqmd.gov/news1/2005/bpsettlementpr.html |title=AQMD and BP Settle Refinery Emission Violations |publisher=Aqmd.gov |date=17 March 2005 |access-date=26 April 2013 |url-status = dead|archive-url=https://web.archive.org/web/20130510160714/http://www.aqmd.gov/news1/2005/BPSettlementPR.html |archive-date=10 May 2013 }}</ref> | |||
| In 2013, a total of 474 ] residents living near the BP Texas City Refinery filed a $1 billion lawsuit against BP, accusing the company of "intentionally misleading the public about the seriousness" of a two-week release of toxic fumes which began on 10 November 2011. "BP reportedly released Sulfur Dioxide, Methyl Carpaptan, Dimethyl Disulfide and other toxic chemicals into the atmosphere" reads the report. 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 had no comment and said it would address the suit in the court system.<ref name="Courthouse-news-4-15-13">{{cite news|last=Langford|first=Cameron|title=Texas Refinery Neighbors Sue BP for Billions|url=http://courthousenews.com/2013/04/15/56672.htm|access-date=19 April 2013|newspaper=Courthouse News Service|date=15 April 2013|url-status = dead|archive-url=https://web.archive.org/web/20130419162338/http://www.courthousenews.com/2013/04/15/56672.htm|archive-date=19 April 2013}}</ref><ref>{{cite web|url=http://fuelfix.com/blog/2013/04/16/bp-sued-for-gas-release-at-its-former-texas-city-plant/|title=BP sued for gas release at its former Texas City plant|work=Fuel Fix|access-date=15 March 2015|archive-date=29 July 2020|archive-url=https://web.archive.org/web/20200729151639/https://www.houstonchronicle.com/business/fuelfix/blog/2013/04/16/bp-sued-for-gas-release-at-its-former-texas-city-plant/|url-status=dead}}</ref><ref name="Rice-April162013">{{cite news|last=Rice|first=Harvey|title=BP sued again for gas release|url=http://www.chron.com/news/houston-texas/houston/article/BP-sued-again-for-gas-release-4438782.php|access-date=16 April 2013|newspaper=Houston Chronicle|date=16 April 2013}}</ref><ref>{{cite web|url=https://abcnews.go.com/US/wireStory/bp-faces-1b-lawsuit-texas-refinery-gas-leak-18969880|title=U.S. News – National News|author=]|work=]|access-date=15 March 2015}}</ref> | |||
| ===2010 Texas City chemical leak=== | |||
| BP has admitted that malfunctioning equipment lead to the release of over {{convert|530,000|lbs}} of chemicals into the air of ] and surrounding areas from 6 April to 16 May 2010. The leak included {{convert|17,000|lbs}} of ] (a known carcinogen), {{convert|37,000|lbs}} of ] (which contribute to respiratory problems), and {{convert|186,000|lbs}} of ].<ref>{{cite web|author=By T.J. Aulds |url=http://galvestondailynews.com/story/157738/ |title=The Galveston County Daily News |publisher=Galvestondailynews.com |date=5 June 2010 |accessdate=17 July 2010| archiveurl= http://web.archive.org/web/20100709041247/http://galvestondailynews.com/story/157738/| archivedate= 9 July 2010 <!--DASHBot-->| deadurl= no}}</ref><ref>{{cite web|url=http://www.propublica.org/article/bp-texas-refinery-had-huge-toxic-release-just-before-gulf-blowout |title=BP Texas Refinery Had Huge Toxic Release Just Before Gulf Blowout |publisher=ProPublica |accessdate=17 July 2010| archiveurl= http://web.archive.org/web/20100715151201/http://www.propublica.org/article/bp-texas-refinery-had-huge-toxic-release-just-before-gulf-blowout| archivedate= 15 July 2010 <!--DASHBot-->| deadurl= no}}</ref> In June 2012, over 50,000 Texas City residents joined a class-action suit against BP, alleging they got sick in 2010 from the 41-day emissions release from the refinery. Texas has also sued BP over the release of emissions. BP says the release harmed no one.<ref></ref> | |||
| === |
===Colombian farmland damages claim=== | ||
| In 2006, a group of ]n farmers reached a multimillion-dollar out-of-court settlement with BP for alleged environmental damage caused by the ].<ref>{{cite news|last=Verkaik |first=Robert |url=https://www.independent.co.uk/news/world/americas/bp-pays-out-millions-to-colombian-farmers-408816.html |archive-url=https://web.archive.org/web/20081216115444/http://www.independent.co.uk/news/world/americas/bp-pays-out-millions-to-colombian-farmers-408816.html |url-status=dead |archive-date=16 December 2008 |title=BP pays out millions to Colombian farmers – Americas – World |work=]|date=22 July 2006 |access-date=26 April 2013 |location=London}}</ref> The company was accused of benefiting from a regime of terror carried out by Colombian government paramilitaries to protect the {{convert|450|mi|km|adj=on}} Ocensa pipeline; BP said throughout that it has acted responsibly and that landowners were fairly compensated.<ref>{{Cite news|url=https://www.independent.co.uk/news/world/americas/bp-pays-out-millions-to-colombian-farmers-408816.html|title=BP pays out millions to Colombian farmers |work=] |location=London |date=22 July 2006 |access-date=5 June 2010 | first=Robert | last=Verkaik| archive-url= https://web.archive.org/web/20100617065629/http://www.independent.co.uk/news/world/americas/bp-pays-out-millions-to-colombian-farmers-408816.html| archive-date= 17 June 2010 |url-status = dead}}</ref> | |||
| In 2009, another group of 95 Colombian farmers filed a suit against BP, saying the company's Ocensa pipeline caused landslides and damage to soil and groundwater, affecting crops, livestock, and contaminating water supplies, making fish ponds unsustainable. Most of the land traversed by the pipeline was owned by peasant farmers who were illiterate and unable to read the environmental impact assessment conducted by BP prior to construction, which acknowledged significant and widespread risks of damage to the land.<ref>{{cite news|author=Diane Taylor |url=https://www.theguardian.com/world/2009/nov/11/colombia-farmers-sue-bp-pipeline |title=BP faces damages claim over pipeline through Colombian farmland |work=] |access-date=26 April 2013 |location=London |date=11 November 2009}}</ref> The ] handed down a judgement rejecting the case in August 2016.<ref>{{cite web|url=https://hsfnotes.com/litigation/2016/08/11/judgment-handed-down-in-long-running-class-action-regarding-the-ocensa-pipeline-in-colombia/|title=Judgment handed down in long-running class action regarding the Ocensa pipeline in Colombia|date=11 August 2016|publisher=Herbert Smith Freehills|access-date=26 December 2020}}</ref> | |||
| {{Main|Deepwater Horizon oil spill|Deepwater Horizon explosion|Deepwater Horizon litigation|Economic and political consequences of the Deepwater Horizon disaster}} | |||
| {{seealso|Deepwater Horizon (disambiguation)}} | |||
| ] | |||
| {{external media | width = 210px | align = right | |||
| | headerimage= | video1 = (54:25), ] on ]<ref name="PBS A">{{cite web | title =Frontline: The Spill | work = | publisher =] on ] | date = 10/26/2010 | url =http://video.pbs.org/video/1625293496/ | accessdate =March 27, 2013 }}</ref> }} | |||
| On 20 April 2010, the semi-submersible exploratory offshore drilling rig '']'' located in the ] field in the ] ] after a ]; it sank two days later, killing 11 people and causing the largest accidental marine oil spill in the history of the petroleum industry.<ref>{{cite news|title= Gulf Oil Spill's Vastness Confirmed: Largest Marine Oil Accident Ever |url=http://www.sciencedaily.com/releases/2010/09/100923142438.htm |work = ScienceDaily |date=23 September 2010|accessdate = 17 November 2012}}</ref><ref>{{cite news|title=Gulf Spill Is the Largest of Its Kind, Scientists Say|url=http://www.nytimes.com/2010/08/03/us/03spill.html |newspaper= The New York Times| first1 = Campbell | last1 = Robertson | first2 = Clifford | last2 = Krauss |date= 2 August 2010|accessdate = 17 November 2012}}</ref><ref>{{cite news |title= BP leak the world's worst accidental oil spill |url=http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7924009/BP-leak-the-worlds-worst-accidental-oil-spill.html |newspaper= ] | date= 3 August 2010|accessdate = 17 November 2012}}</ref> Before the well was capped on 15 July 2010, an estimated {{convert|4.9|Moilbbl}} of oil was spilled and {{convert|1.8|e6USgal|m3}} of ] dispersant was applied.<ref>{{cite news|title=US to give BP evidence on size of Gulf oil spill |url= http://articles.chicagotribune.com/2012-04-11/news/sns-rt-bpoilspilll2e8fblta-20120411_1_deepwater-horizon-bp-plc-oil-spill |newspaper = Chicago Tribune | agency = Reuters | date= 11 April 2012 |accessdate = 17 November 2012}}</ref><ref>{{cite news|title= One Year After BP Oil Spill, At Least 1.1 Million Barrels Still Missing |url= http://www.scientificamerican.com/article.cfm?id=one-year-after-bp-oil-spill-millions-of-barrels-oil-missing |newspaper = Scientific American | first = David | last = Biello| date= 25 April 2011 |accessdate = 17 November 2012}}</ref> The spill caused extensive ] to marine and ] habitats and to the Gulf's ] and ] industries<ref>{{cite news|url=http://www.nwf.org/News-and-Magazines/National-Wildlife/Birds/Archives/2010/Oil-Spill-Birds.aspx|title=Bird Habitats Threatened by Oil Spill|work=National Wildlife|last= Tangley|first = Laura|publisher=National Wildlife Federation|date=30 April 2010|accessdate=2010-05-03| archiveurl= http://web.archive.org/web/20100504061253/http://www.nwf.org/News-and-Magazines/National-Wildlife/Birds/Archives/2010/Oil-Spill-Birds.aspx| archivedate= 4 May 2010 | deadurl= no}}</ref><ref name="massive">{{Cite news| title=Salazar: Oil spill 'massive' and a potential catastrophe | date=2 May 2010 |publisher=CNN | url=http://news.blogs.cnn.com/2010/05/02/salazar-oil-spill-massive-and-a-potential-catastrophe/ | accessdate =1 May 2010| archiveurl= http://web.archive.org/web/20100505153242/http://news.blogs.cnn.com/2010/05/02/salazar-oil-spill-massive-and-a-potential-catastrophe/| archivedate= 5 May 2010 | deadurl= no}}</ref><ref>{{Cite news|url=http://www.politico.com/politico44/perm/0410/cabinetlevel_oil_spill_meet_bcb87e48-b21e-4b72-8716-3d3a87ac7ffa.html|title=Guard mobilized, BP will foot bill|date=1 May 2010 |newspaper=Politico|publisher=Capitol News Company |accessdate=1 May 2010}}</ref> as well as human ].<ref></ref> | |||
| ===Canadian oil sands=== | |||
| On 14 November 2012, BP and the Department of Justice reached a $4.0 billion settlement, the largest of its kind in U.S. history. BP also agreed to plead guilty to 11 felony counts of manslaughter, two misdemeanors, and a felony count of lying to Congress. The government charged several individuals as well. David Rainey, who worked for BP during the spill response, was indicted on charges of obstruction of Congress and false statements. He alledegedly cherry-picked pages from some documents and withheld others "to make the spill appear less catastrophic than it was.” Two other BP supervisors on board the rig when it exploded were charged with manslaughter and other counts<ref name=guardian151112/><ref name=autogenerated1/> | |||
| {{See also|List of articles about Canadian oil sands}} | |||
| Since 2007, BP has been involved in oil sands projects,<ref name="guardian061207"/> which Greenpeace has called a climate crime.<ref name="guardian071207"/> Members of Canada's ] have criticised BP's involvement for the impacts oil sands extraction has on the environment.<ref name="Macalister2009"/> In 2010, BP pledged to use only ''in-situ'' technologies instead of open-pit mining.<ref name="guardian150410"/> It uses ] ''in-situ'' technology to extract ].<ref name="ReutersJan2010"/> According to Greenpeace it is even more damaging to climate because while according to the ] ''in-situ'' techniques result in lower ] emissions, and are less damaging to the landscape and rivers, they cause more greenhouse gas and ] emissions than mining.<ref name="guardian150410"/> In 2010, activist shareholders asked BP for a full investigation of the Sunrise oil sands project, but were defeated.<ref name="guardian150410"/><ref name=wsj150410/> In 2013, shareholders criticised the project for being ].<ref name="guardian100413"/> | |||
| ==Violations and accidents== | |||
| BP also admitted to lying to investors and paid an additional $525 million civil fine. | |||
| Citing conditions similar to those that resulted in the 2005 ], on 25 April 2006, the U.S. Department of Labor's ] (OSHA) fined BP more than $2.4 million for unsafe operations at the company's ] refinery. An OSHA inspection resulted in 32 per-instance wilful citations including locating people in vulnerable buildings among the processing units, failing to correct depressurisation deficiencies and deficiencies with gas monitors, and failing to prevent the use of non-approved electrical equipment in locations in which hazardous concentrations of flammable gases or vapours may exist. 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. Penalties were also issued for five serious violations, including failure to develop operating procedures for a unit that removes sulphur compound; failure to ensure that operating procedures reflect current operating practice in the Isocracker Unit; failure to resolve process hazard analysis recommendations; failure to resolve process safety management compliance audit items in a timely manner; and failure to periodically inspect pressure piping systems.<ref>{{cite web|url=https://www.osha.gov/pls/oshaweb/owadisp.show_document?p_table=NEWS_RELEASES&p_id=12170|title=2006 – 04/25/2006 – OSHA Fines BP $2.4 Million for Safety and Health Violations|work=osha.gov|access-date=15 March 2015|archive-url=https://web.archive.org/web/20150317051556/https://www.osha.gov/pls/oshaweb/owadisp.show_document?p_table=NEWS_RELEASES&p_id=12170|archive-date=17 March 2015|url-status = dead}}</ref><ref name="CNN-4-25-06">{{cite news|title=BP fined $2.4M for refinery safety problems|url=https://money.cnn.com/2006/04/25/news/companies/bp_fine/|access-date=16 April 2013|publisher=]|date=25 April 2006}}</ref> | |||
| The settlement has not resolved the fines under the Clean Water Act, which could be as much as $21 billion.<ref name=autogenerated1>{{Cite news | url = http://www.nytimes.com/2012/11/16/business/global/16iht-bp16.html |title= BP Will Plead Guilty and Pay Over $4 Billion | first1 = Clifford | last1 = Krauss | first2 = John | last2 = Schwartz|date= 15 November 2012 | newspaper =] |accessdate=17 November 2012}}</ref> Speaking at a news conference, a U.S. federal official said, “The explosion of the rig was a disaster that resulted from BP’s culture of privileging profit over prudence.” The total amount paid out by BP by November 2012 was $42 billion.<ref name=guardian151112b>{{Cite news | url = http://www.guardian.co.uk/business/2012/nov/15/bp-fine-draw-line-deepwater |title= BP hopes $4.5bn fine will draw line under Deepwater Horizon disaster | first1 = Terry | last1 = Macalister |date= 15 November 2012 | newspaper =] |accessdate=17 November 2012}}</ref><ref name="BP fined, profit over prudence"/> In November 2012, the U.S. Government temporarily banned BP from bidding any new federal contracts.<ref>{{Cite news| url = http://money.cnn.com/2012/11/28/news/economy/bp-ban/ | title= BP banned from federal contracts |first=Steve |last=Hargreaves |date=28 November 2012 |work=] |accessdate=1 December 2012}}</ref><ref name="BP fined, profit over prudence"/> Estimates of the total amount of penalties that BP may be required to pay have reached as high as $90 billion.<ref></ref> | |||
| In 2008, BP and several other major oil refiners agreed to pay $422 million to settle a class-action lawsuit stemming from water contamination tied to the gasoline additive ], a chemical that was once a key gasoline ingredient. Leaked from storage tanks, MTBE has been found in several water systems across the United States. The plaintiffs maintain that the industry knew about the environmental dangers but that they used it instead of other possible alternatives because it was less expensive. The companies will also be required to pay 70% of cleanup costs for any wells newly affected at any time over the next 30 years.<ref>{{cite news|first=Steve |last=Gelsi |url=http://articles.marketwatch.com/2008-05-08/news/30709613_1_scott-summy-mtbe-gasoline-additive |title=Refiners to pay $422 million settlement on MTBE | work=] |date=8 May 2008 |access-date=26 April 2013 |url-status = dead|archive-url=https://web.archive.org/web/20130502104957/http://articles.marketwatch.com/2008-05-08/news/30709613_1_scott-summy-mtbe-gasoline-additive |archive-date=2 May 2013 }}</ref><ref>{{cite web|url=https://www.nbcnews.com/id/wbna24541226 |title=Oil companies settle MTBE lawsuits – US news – Environment |work=] |access-date=26 April 2013}}</ref> | |||
| ===Canadian oil sands=== | |||
| In Canada, BP is involved in the use of in-situ drilling technologies such as ] to extract oil from the country's oil sand reserves.<ref name="BPOilSandsFAQ2012">{{cite web |url=http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/B/BP_and_Oil_Sands_FAQs.pdf |title=BP and Oil Sands: Frequently Asked Questions |year=2012 |publisher=BP |accessdate=22 October 2012}}</ref><ref name="ReutersJan2010">{{cite news |title=FACTBOX-Money flows again in Canada's oil sands industry |url=http://www.reuters.com/article/2010/01/20/huskyenergy-idUSN2023401020100120?type=marketsNews | first = Jeffrey | last = Jones |agency=Reuters |date=20 January 2010 |accessdate=25 September 2012}}</ref><ref name="BPCanadianOilSands"/> Members of the ] have criticized BP's involvement in the Canadian oil sands for the impacts that oil extraction is said to have on the local environment.<ref name="Macalister2009">{{cite news |title=Cree aboriginal group to join London climate camp protest over tar sands |first=Terry | last = Macalister |url=http://www.guardian.co.uk/business/2009/aug/23/london-tar-sands-climate-protest |newspaper=The Guardian |date=23 August 2009 |accessdate=25 September 2012}}</ref> However, proponents of in situ drilling state that using recycled ] makes it the more environmentally friendly option compared to oil sands mining.<ref name="Topf2010">{{cite news |title=Insitu: Oil Sands Mining Goes Underground |first=Andrew | last = Topf |url=http://magazine.mining.com/issues/1009/Vol03-06-InsituOilSandsMiningGoesUnderground-18-19.pdf |work=Mining Magazine |date=September-October 2010 |first=Elana | last = Schor |url=http://www.nytimes.com/gwire/2011/08/16/16greenwire-reclaimed-dump-sparks-oil-sands-sustainability-44003.html?pagewanted=all |newspaper =The New York Times |date=16 August 2011 |accessdate=5 October 2012}}</ref> | |||
| BP has one of the worst safety records of any major oil company that operates in the United States. Between 2007 and 2010, BP refineries in Ohio and Texas accounted for 97% of "egregious, willful" violations handed out by the U.S. Occupational Safety and Health Administration (OSHA). BP had 760 "egregious, willful" violations during that period, while Sunoco and Conoco-Phillips each had eight, Citgo two and Exxon had one.<ref name="ABC-5-2010">{{cite news|last=Thomas|first=Pierre|title=BP's Dismal Safety Record|url=https://abcnews.go.com/WN/bps-dismal-safety-record/story?id=10763042&page=1|access-date=17 April 2013|work=]|date=27 May 2010}}</ref> The deputy assistant secretary of labour at OSHA, said "The only thing you can conclude is that BP has a serious, systemic safety problem in their company."<ref>{{Cite news |title=Renegade Refiner: OSHA Says BP Has "Systemic Safety Problem" |author1=J. Morris |author2=M.B. Pell |name-list-style=amp |publisher=The Center for Public Integrity |date=16 May 2010 |url=http://www.publicintegrity.org/2010/05/17/2672/renegade-refiner-osha-says-bp-has-%E2%80%9Csystemic-safety-problem%E2%80%9D |access-date=11 June 2010 |url-status = dead|archive-url=https://web.archive.org/web/20120819184517/http://www.publicintegrity.org/2010/05/17/2672/renegade-refiner-osha-says-bp-has-%E2%80%9Csystemic-safety-problem%E2%80%9D |archive-date=19 August 2012 }}</ref> | |||
| ==Accidents== | |||
| A report in '']'', published in '']'''' in 2010, found that over a decade of internal investigations of BP's Alaska operations during the 2000s warned senior BP managers that the company repeatedly disregarded safety and environmental rules and risked a serious accident if it did not change its ways. ProPublica found that "Taken together, these documents portray a company that systemically ignored its own safety policies across its North American operations – from Alaska to the Gulf of Mexico to California and Texas. Executives were not held accountable for the failures, and some were promoted despite them."<ref name="Lustgarten-6-2010">{{cite news|last=Lustgarten|first=Abraham|title=Reports at BP over years find history of problems|url=https://www.washingtonpost.com/wp-dyn/content/article/2010/06/07/AR2010060704826.html|access-date=17 April 2013|newspaper=ProPublica|date=8 June 2010}}</ref> | |||
| The ], an independent non-profit organisation in the United States which investigates and seeks to expose corruption and other misconduct, lists BP as number one on their listing of the 100 worst corporations based on instances of misconduct.<ref>{{Cite web|url=https://www.contractormisconduct.org/|title=Federal Contractor Misconduct Database|website=POGO's FCMD}}</ref> | |||
| ===1965 Sea Gem offshore oil rig disaster=== | ===1965 Sea Gem offshore oil rig disaster=== | ||
| {{Main|Sea Gem}} | {{Main|Sea Gem}} | ||
| 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. The oil rig had been hastily converted in an effort to quickly start drilling operations after the ] was opened for exploration. Thirteen crew members were killed. No hydrocarbons were released in the accident.<ref> |
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. The oil rig had been hastily converted in an effort to quickly start drilling operations after the ] was opened for exploration. Thirteen crew members were killed. No hydrocarbons were released in the accident.<ref>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7673234/BP-chief-Tony-Hayward-fights-to-limit-the-damage-after-Gulf-of-Mexico-rig-disaster.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7673234/BP-chief-Tony-Hayward-fights-to-limit-the-damage-after-Gulf-of-Mexico-rig-disaster.html |archive-date=11 January 2022 |url-status=live |title=BP chief Tony Hayward fights to limit the damage after Gulf of Mexico rig disaster|work=] |access-date=26 April 2013 |first=Roland |last=Gribben |date=3 May 2010|url-access=subscription}}{{cbignore}}</ref><ref name="dukeswood">{{cite web|title=The Story of the Sea Gem, the first rig to discover North Sea Gas in the UK sector |url=http://www.dukeswoodoilmuseum.co.uk/sea_gem.htm |work=Dukes Wood Oil Museum |access-date=13 June 2010 |url-status = dead|archive-url=https://web.archive.org/web/20090602134252/http://www.dukeswoodoilmuseum.co.uk/sea_gem.htm |archive-date=2 June 2009 }}</ref> | ||
| === |
===Texas City refinery explosion and leaks=== | ||
| {{Main|Texas City Refinery explosion}} | |||
| The former ] oil refinery at ], was beset by environmental issues, including chemical leaks and a 2005 explosion that killed 15 people and injured hundreds. '']'' described the incident, which led to a guilty plea by BP to a felony ] charge, as "one of the deadliest U.S. industrial accidents in 20 years." The refinery was sold to ] in October 2012.<ref name="Bloomberg-Texas City refinery sale"/> | |||
| In March 2005, the Texas City Refinery, one of the largest refineries owned then by BP, exploded causing 15 deaths, injuring 180 people and forcing thousands of nearby residents to remain sheltered in their homes.<ref name="McClatchy Washington Bureau">{{cite web|url=http://www.mcclatchydc.com/2010/05/08/93779/bp-has-a-long-record-of-legal.html#ixzz0nZaTzdqN |title="Gulf oil spill: BP has a long record of legal, ethical violations" 8 May 2010 by McClatchy Washington Bureau |publisher=Mcclatchydc.com |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100605100643/http://www.mcclatchydc.com/2010/05/08/93779/bp-has-a-long-record-of-legal.html| archivedate= 5 June 2010 <!--DASHBot-->| deadurl= no}}</ref> A {{convert|20|ft|adj=on}} column filled with hydrocarbon overflowed to form a vapour cloud, which ignited. The explosion caused all the casualties and substantial damage to the rest of the plant.<ref name="NYT 12 July 2010">{{cite news|title=In BP’s Record, a History of Boldness and Costly Blunders|url=http://www.nytimes.com/2010/07/13/business/energy-environment/13bprisk.html?_r=1&pagewanted=3|newspaper=The New York Times|date=12 July 2010}}</ref> The incident came as the culmination of a series of less serious accidents at the refinery, and the engineering problems were not addressed by the management. Maintenance and safety at the plant had been cut as a cost-saving measure, the responsibility ultimately resting with executives in London.<ref name="baker">{{cite web|url=http://www.bp.com/bakerpanelreport |title=Baker Panel Report |accessdate=5 June 2010}}</ref> | |||
| ====2005 explosion==== | |||
| The fallout from the accident clouded BP's corporate image because of the mismanagement at the plant. There had been several investigations of the disaster, the most recent being that from the ]<ref>{{cite web|url=http://www.csb.gov/assets/document/CSBFinalReportBP.pdf |title=U.S. Chemical Safety And Hazard Investigation Board Investigation Report on the BP Refinery Explosion and Fire of 23 March 2005 and BP's Safety Culture |format=PDF |accessdate=5 June 2010| archiveurl= http://web.archive.org/web/20100528174726/http://www.csb.gov/assets/document/CSBFinalReportBP.pdf| archivedate= 28 May 2010 <!--DASHBot-->| deadurl= no}}</ref> which "offered a scathing assessment of the company." OSHA found "organizational and safety deficiencies at all levels of the BP Corporation" and said management failures could be traced from Texas to London.<ref name="McClatchy Washington Bureau"/> | |||
| {{Main|Texas City refinery explosion}} | |||
| ] | |||
| The company pleaded guilty to a ] violation of the ], was fined $50 million, the largest ever assessed under the Clean Air Act, and sentenced to three years probation.<ref name="justice.gov"/> | |||
| In March 2005, the Texas City refinery, one of the largest refineries owned then by BP, exploded causing 15 deaths, injuring 180 people and forcing thousands of nearby residents to remain sheltered in their homes.<ref name="McClatchy Washington Bureau">{{cite web|url=http://www.mcclatchydc.com/2010/05/08/93779/bp-has-a-long-record-of-legal.html#ixzz0nZaTzdqN |title="Gulf oil spill: BP has a long record of legal, ethical violations" 8 May 2010 by McClatchy Washington Bureau |publisher=Mcclatchydc.com |access-date=5 June 2010| archive-url= https://web.archive.org/web/20100605100643/http://www.mcclatchydc.com/2010/05/08/93779/bp-has-a-long-record-of-legal.html| archive-date= 5 June 2010 |url-status = live}}</ref> A {{convert|20|ft|adj=on}} column filled with hydrocarbon overflowed to form a vapour cloud, which ignited. The explosion caused all the casualties and substantial damage to the rest of the plant.<ref name="NYT 12 July 2010">{{cite news|title=In BP's Record, a History of Boldness and Costly Blunders|url=https://www.nytimes.com/2010/07/13/business/energy-environment/13bprisk.html|newspaper=]|date=12 July 2010|first=Sarah|last=Lyall}}</ref> The incident came as the culmination of a series of less serious accidents at the refinery, and the engineering problems were not addressed by the management. Maintenance and safety at the plant had been cut as a cost-saving measure, the responsibility ultimately resting with executives in London.<ref name="baker">{{cite web|url=http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/SP/STAGING/local_assets/assets/pdfs/Baker_panel_report.pdf |title=Baker Panel Report |access-date=5 June 2010 |url-status = dead|archive-url=https://web.archive.org/web/20100523075540/http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/SP/STAGING/local_assets/assets/pdfs/Baker_panel_report.pdf |archive-date=23 May 2010 }}</ref> | |||
| The fallout from the accident clouded BP's corporate image because of the mismanagement at the plant. There had been several investigations of the disaster, the most recent being that from the ]<ref>{{cite web|url=http://www.csb.gov/assets/document/CSBFinalReportBP.pdf |title=U.S. Chemical Safety And Hazard Investigation Board Investigation Report on the BP Refinery Explosion and Fire of 23 March 2005 and BP's Safety Culture |access-date=5 June 2010 |archive-url=https://web.archive.org/web/20100528174726/http://www.csb.gov/assets/document/CSBFinalReportBP.pdf |archive-date=28 May 2010 |url-status = dead}}</ref> which "offered a scathing assessment of the company." OSHA found "organizational and safety deficiencies at all levels of the BP Corporation" and said management failures could be traced from Texas to London.<ref name="McClatchy Washington Bureau"/> The company pleaded guilty to a ] violation of the ], was fined $50 million, the largest ever assessed under the Clean Air Act, and sentenced to three years probation.<ref name="justice.gov">{{cite web|url=https://www.justice.gov/opa/pr/2007/October/07_ag_850.html |title=#07-850: 10-25-07 British Petroleum to Pay More Than $370 Million in Environmental Crimes, Fraud Cases |publisher=Justice.gov |access-date=26 April 2013}}</ref> | |||
| On 30 October 2009, the US ] (OSHA) fined BP an additional $87 million, the largest fine in OSHA history, for failing to correct safety hazards revealed in the 2005 explosion. Inspectors found 270 safety violations that had been previously cited but not fixed and 439 new violations. BP appealed the fine.<ref name="McClatchy Washington Bureau"/><ref>Associated Press, "BP fined record $87 million for safety breaches", 31 October 2009.</ref> | |||
| On 30 October 2009, the US ] (OSHA) fined BP an additional $87 million, the largest fine in OSHA history, for failing to correct safety hazards documented in the 2005 explosion. Inspectors found 270 safety violations that had been cited but not fixed and 439 new violations. BP appealed the fine.<ref name="McClatchy Washington Bureau"/><ref>Associated Press, "BP fined record $87 million for safety breaches", 31 October 2009.</ref> In July 2012, the company agreed to pay $13 million to settle the new violations. At that time OSHA found "no imminent dangers" at the Texas plant. Thirty violations remained under discussion.<ref name=reuters120712> | |||
| {{cite news | {{cite news | ||
| | |
| work=] | ||
| | title = BP pays $13 mln to settle Texas refinery safety probe | | title = BP pays $13 mln to settle Texas refinery safety probe | ||
| | url= |
| url= https://www.reuters.com/article/refinery-bp-osha-idUSL2E8IC7YW20120712 | ||
| | first1 = Erwin | last1 = Seba | | first1 = Erwin | last1 = Seba | ||
| | date = 12 July 2012 | | date = 12 July 2012 | ||
| | access-date=1 February 2013}} | |||
| </ref> In March 2012, US Department of Justice officials said the company had met all of its obligations and subsequently ended the probationary period.<ref>{{cite web|url=http://galvestondailynews.com/story/301582|archive-url=https://web.archive.org/web/20120805014020/http://galvestondailynews.com/story/301582|title=BP fatal blasts were 7 years ago today|archive-date=5 August 2012|work=galvestondailynews.com|access-date=15 March 2015}}</ref> In November 2011, BP agreed to pay the state of Texas $50 million for violating state emissions standards at its Texas City refinery during and after the 2005 explosion at the refinery. The state Attorney General said BP was responsible for 72 separate pollutant emissions that have been occurring every few months since March 2005. It was the largest fine ever imposed under the Texas Clean Air Act.<ref name="Florian-4-13">{{cite news|last=Martin|first=Florian|title=BP fined $50 million for violating Texas Clean Air Act|url=http://www.yourhoustonnews.com/bay_area/news/bp-fined-million-for-violating-texas-clean-air-act/article_4a038500-063a-11e1-a5c4-001cc4c002e0.html|access-date=19 April 2013|newspaper=The Bay Area Citizen|date=11 November 2011}}</ref><ref name=ChronNov32011>{{cite news|last=Tresaugue|first=Matthew|title=BP to pay $50 million to settle state blast claims|url=http://www.chron.com/news/article/BP-to-pay-50-million-to-settle-state-blast-claims-2250221.php|access-date=19 April 2013|newspaper=Houston Chronicle|date=3 November 2011}}</ref> | |||
| </ref> | |||
| ====2007 toxic substance release==== | |||
| ===2006–2010: Refinery fatalities and safety violations=== | |||
| From January 2006 to January 2008, three workers were killed at the company's ] refinery in three separate accidents. In July 2006 a worker was crushed between a pipe stack and mechanical lift, in June 2007, a worker was electrocuted, and in January 2008, a worker was killed by a 500-pound piece of metal that came loose under high pressure and hit him.<ref>{{Cite news|url=http://www.galvnews.com/story/112980/ |title=Attorney: Equipment failed in BP death |publisher=The Daily News |author=Mark Collette |date=17 January 2008 |archiveurl=http://web.archive.org/web-cdx/20120729072547/http://galvestondailynews.com/story/112980/ |archivedate=29 July 2012 |accessdate=12 February 2013}}</ref> | |||
| In 2007, 143 workers at the Texas City refinery claimed that they were injured when a toxic substance was released at the plant. In December 2009, after a three-week trial, a federal jury in Galveston awarded ten of those workers $10 million each in punitive damages, in addition to smaller damages for medical expenses and pain and suffering. The plant had a history of chemical releases.<ref name="Times - AP - Texas refinery - 2009">{{cite news|title=Jury Awards BP Workers $100 Million in Toxic Substance Case|url=https://www.nytimes.com/2009/12/19/business/energy-environment/19oil.html|access-date=19 March 2015|work=]|agency=Associated Press|date=18 December 2009}}</ref> In March 2010, the federal judge hearing the case reduced the jury's award to less than $500,000. U.S. District Judge Kenneth M. Hoyt said the plaintiffs failed to prove BP was grossly negligent.<ref name="Chron - 2010 Texas City">{{cite news|last1=Clanton|first1=Brett|title=BP wins $99 million reduction in Texas City fumes case|url=http://www.chron.com/business/article/BP-wins-99-million-reduction-in-Texas-City-fumes-1702033.php|access-date=19 March 2015|work=Houston Chronicle|date=16 March 2010}}</ref> | |||
| Facing scrutiny after the ], two BP-owned refineries in ], and ], were responsible for 97 percent (829 of 851) of wilful safety violations by oil refiners between June 2007 and February 2010, as determined by inspections by the ]. Jordan Barab, deputy assistant secretary of labour at OSHA, said "The only thing you can conclude is that BP has a serious, systemic safety problem in their company."<ref>{{Cite news|title= Renegade Refiner: OSHA Says BP Has "Systemic Safety Problem" |author=J. Morris and M.B. Pell |publisher=The Center for Public Integrity |date= 16 May 2010 |url=http://www.publicintegrity.org/2010/05/17/2672/renegade-refiner-osha-says-bp-has-%E2%80%9Csystemic-safety-problem%E2%80%9D |accessdate=11 June 2010}}</ref> | |||
| === |
====2010 chemical leak==== | ||
| On 17 September 2008, a gas leak was discovered and one gas-injection well blown out in the area of the Central Azeri platform at the ], a part of the ] (ACG) project, in the Azerbaijan sector of ].<ref name=reuters170908> | |||
| In August 2010, the Texas Attorney General charged BP with illegally emitting harmful air pollutants from its ] refinery for more than a month. | |||
| BP has admitted that malfunctioning equipment led to the release of over {{convert|530000|lbs}} of chemicals into the air of Texas City and surrounding areas from 6 April to 16 May 2010. The leak included {{convert|17000|lbs}} of ], {{convert|37000|lbs}} of ], and {{convert|186000|lbs}} of ]. The State's investigation showed that BP's failure to properly maintain its equipment caused the malfunction. When the equipment malfunctioned and caught fire, BP workers shut it down and routed escaping gases to flares. Rather than shut down associated units while compressor repairs were made, BP chose to keep operating those other units, which led to unlawful release of contaminants for almost 40 days. The Attorney General is seeking civil penalties of no less than $50 nor greater than $25,000 per day of each violation of state air quality laws, as well as attorneys' fees and investigative costs.<ref name="ChronNov32011"/><ref>{{cite web|url=https://www.propublica.org/article/bp-texas-refinery-had-huge-toxic-release-just-before-gulf-blowout |title=BP Texas Refinery Had Huge Toxic Release Just Before Gulf Blowout |publisher=ProPublica |access-date=17 July 2010| archive-url= https://web.archive.org/web/20100715151201/https://www.propublica.org/article/bp-texas-refinery-had-huge-toxic-release-just-before-gulf-blowout| archive-date= 15 July 2010 |url-status = live}}</ref><ref name="The Attorney General of Texas">{{cite web | url=https://www.texasattorneygeneral.gov/oagnews/release.php?id=3442 | title=Attorney General Abbott Charges BP With Additional Violations at Texas City Refinery | publisher=The state of Texas | date=9 August 2010 | access-date=19 March 2015 | archive-date=26 October 2020 | archive-url=https://web.archive.org/web/20201026042107/https://www.texasattorneygeneral.gov/news?id=3442 | url-status=dead }}</ref> | |||
| In June 2012, over 50,000 Texas City residents joined a class-action suit against BP, alleging they became sick in 2010 as a result of the emissions release from the refinery. BP said the release harmed no one.<ref>{{cite web|url=https://abc13.com/archive/8700136/|title=More than 50,000 Texas City residents sue BP|work=ABC13 Houston|access-date=15 March 2015|archive-date=30 June 2017|archive-url=https://web.archive.org/web/20170630105823/http://abc13.com/archive/8700136/|url-status=live}}</ref> In October 2013, a trial designed as a test for a larger suit that includes 45,000 people found that BP was negligent in the case, but due to the lack of substantial evidence linking illness to the emissions, decided the company would be absolved of any wrongdoing.<ref>{{cite web|url=http://www.wfaa.com/news/business/Jury-finds-BP-negligent-in-Texas-emissions-event-227393221.html |title=Jury finds BP negligent in Texas emissions event |date=11 October 2013 |work=WFAA |access-date=15 March 2015 |url-status = dead|archive-url=https://web.archive.org/web/20131017045159/http://www.wfaa.com/news/business/Jury-finds-BP-negligent-in-Texas-emissions-event-227393221.html |archive-date=17 October 2013 }}</ref><ref>{{cite web|url=http://www.chron.com/news/houston-texas/houston/article/Jury-absolves-BP-in-gas-leak-trial-4884883.php|title=Jury absolves BP in gas leak trial|work=Houston Chronicle|date=11 October 2013|access-date=15 March 2015}}</ref> | |||
| ===Prudhoe Bay=== | |||
| {{Main|Prudhoe Bay oil spill}} | |||
| ] | |||
| In March 2006, corrosion of a BP Exploration Alaska (BPXA) oil transit pipeline in ] transporting oil to the ] led to a five-day leak and the largest oil spill on ].<ref name="Roach2006" /> According to the Alaska Department of Environmental Conservation (ADEC), a total of {{convert|212252|USgal|oilbbl m3}} of oil was spilled, covering {{convert|2|acre}} of the North Slope.<ref name="ADECMar2008">{{cite web |url=http://www.dec.state.ak.us/SPAR/PERP/response/sum_fy06/060302301/sitreps/060302301_sr_23.pdf |title=GC-2 Oil Transit Line Release Situation Report |date=28 March 2008 |work=dec.state.ak.us |publisher=Alaska Department of Environmental Conservation |access-date=21 January 2013}}</ref> BP admitted that cost-cutting measures had resulted in a lapse in monitoring and maintenance of the pipeline and the consequent leak. At the moment of the leak, ] (known as "pigs") had not been run through the pipeline since 1998.<ref name="Rosen2007"/><ref name="Baltimore2007">{{cite news |title=BP admits budget a factor in Alaska spill |first1=Chris |last1=Baltimore |first2=Robert |last2=Campbell |url=https://uk.reuters.com/article/uk-bp-alaska-congress/bp-admits-budget-a-factor-in-alaska-spill-idUKN1619278420070516 |archive-url=https://web.archive.org/web/20200802152233/https://uk.reuters.com/article/uk-bp-alaska-congress/bp-admits-budget-a-factor-in-alaska-spill-idUKN1619278420070516 |url-status=dead |archive-date=2 August 2020 |work=] |date=16 May 2007 |access-date=21 January 2013}}</ref><ref>{{Cite news|author=Andrew Clark in New York |url=https://www.theguardian.com/environment/2007/may/01/energy.business |title=BP accused of 'draconian' cost cuts prior to Alaskan pipeline spill |work=] |date= 1 May 2007|access-date=5 June 2010 | location=London}}</ref><ref>{{cite journal |url=https://money.cnn.com/magazines/fortune/fortune_archive/2006/10/16/8388595/index.htm |title=Can BP bounce back? A disastrous leak. A deadly explosion. CEO John Browne must turn his troubled oil giant around, but time is running out. |last=Schwartz |first=Nelson D. |date=31 October 2006 |journal=Fortune |publisher=] |access-date=17 March 2013}}</ref> BP completed the clean-up of the spill by May 2006, including removal of contaminated gravel and vegetation, which was replaced with new material from the Arctic tundra.<ref name="ADECMar2008"/><ref name="Benschoten2006">{{cite news |title=BP Prudhoe Bay Oil Leak Cleanup Completed |author=Andrea Lyn Van Benschoten |url=http://www.manufacturing.net/articles/2006/05/bp-prudhoe-bay-oil-leak-cleanup-completed?menuid=272 |publisher=Manufacturing.net |date=22 May 2006 |access-date=22 January 2013}}</ref> | |||
| Following the spill, the company was ordered by regulators to inspect the {{convert|35|km}} of pipelines in Prudhoe Bay using "smart pigs".<ref name="Kleiner2006">{{cite news |title=Bacteria may have eaten through Alaskan oil pipe |author=Kurt Kleiner |url=https://www.newscientist.com/article/dn9703-bacteria-may-have-eaten-through-alaskan-oil-pipe.html |work=New Scientist |date=9 August 2006 |access-date=20 January 2013}}</ref> In late July 2006, the "smart pigs" monitoring the pipelines found 16 places where corrosion had thinned pipeline walls. A BP crew sent to inspect the pipe in early August discovered a leak and small spill,<ref name="Kleiner2006"/><ref name="Isidore2006">{{cite news |title=New worry for drivers: BP shuts oilfield |author=Chris Isidore |url=https://money.cnn.com/2006/08/07/news/international/oil_alaska/ |publisher=]|date=8 August 2006 |access-date=21 January 2013}}</ref> following which, BP announced that the eastern portion of the Alaskan field would be shut down for repairs on the pipeline,<ref name="Isidore2006"/><ref name="Zibel2007">{{cite news |title=BP shuts 100,000 barrels of Alaska oil |author=Alan Zibel |url=http://usatoday30.usatoday.com/money/economy/2007-05-22-2959368754_x.htm |work=] |date=22 May 2007 |access-date=21 January 2013}}</ref> with approval from the ]. The shutdown resulted in a reduction of {{convert|200000|oilbbl/d|m3/d}} until work began to bring the eastern field to full production on 2 October 2006.<ref name="Alaska Update">{{Cite news|url=http://usresponse.bp.com/go/doc/1249/132386/ |title=Alaska Update |publisher=BP |date=2 October 2006|id={{subscription required}}}}</ref> In total, {{convert|23|oilbbl|m3}} of oil were spilled and {{convert|176|oilbbl|m3}} were "contained and recovered", according to ADEC. The spill was cleaned up and there was no impact upon wildlife.<ref name="ADECAug2006">{{cite web |url=http://dec.alaska.gov/spar/perp/response/sum_fy07/060806301/060806301_sr_05.pdf |title=Flow Station 2 Transit Oil Line Release Situation Report |date=14 August 2006 |work=dec.state.ak.us |publisher=Alaska Department of Environmental Conservation |access-date=21 January 2013 |archive-date=2 August 2020 |archive-url=https://web.archive.org/web/20200802021119/https://dec.alaska.gov/spar/ppr/response/sum_fy07/060806301/060806301_sr_05.pdf |url-status=dead }}</ref> | |||
| After the shutdown, BP pledged to replace {{convert|26|km}} of its Alaskan oil transit pipelines<ref name="Nelson2007">{{cite news |title=BP replacing entire transit system |author=Kristen Nelson |url=http://www.petroleumnews.com/pntruncate/954556022.shtml |work=Petroleum News |date=18 February 2007 |access-date=22 January 2013}}</ref><ref name="HeraldMar2008">{{cite news|title=BP to start replacing Alaska pipelines |url=http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=afa03605-518e-4450-844b-234254a762ed |work=Calgary Herald |date=1 March 2008 |access-date=22 January 2013 |url-status = dead|archive-url=https://web.archive.org/web/20130521044758/http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=afa03605-518e-4450-844b-234254a762ed |archive-date=21 May 2013 }}</ref> and the company completed work on the {{convert|16|mi}} of new pipeline by the end of 2008.<ref name="BPPrudhoeBayFact">{{cite web|url=http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/A/abp_wwd_alaska_prudhoe_bay_fact_sheet.pdf |title=Greater Prudhoe Bay |year=2012 |publisher=BP |access-date=22 January 2013 |url-status = dead|archive-url=https://web.archive.org/web/20101229141741/http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/A/abp_wwd_alaska_prudhoe_bay_fact_sheet.pdf |archive-date=29 December 2010 }}</ref> In November 2007, BP Exploration, Alaska pleaded guilty to negligent discharge of oil, a misdemeanour under the federal ] and was fined US$20 million.<ref name="corrosion">, ], 26 October 2007. Retrieved 11 November 2007.</ref> There was no charge brought for the smaller spill in August 2006 due to BP's quick response and clean-up.<ref name="Rosen2007">{{cite news |title=BP set to plead in Prudhoe Bay pipeline case |first=Yereth | last=Rosen |url=https://www.reuters.com/article/uk-bp-alaska/bp-set-to-plead-in-prudhoe-bay-pipeline-case-idUKN2864909420071129 | work=]|date=29 November 2007 |access-date=21 January 2013}}</ref> On 16 October 2007, ADEC officials reported a "toxic spill" from a BP pipeline in Prudhoe Bay comprising {{convert|2000|USgal}} of primarily ] mixed with crude oil and water, which spilled onto a gravel pad and frozen tundra pond.<ref name="ktuu">{{Cite news|url=http://www.ktuu.com/Global/story.asp?S=7221594 |archive-url=https://web.archive.org/web/20071113155521/http://www.ktuu.com/Global/story.asp?S=7221594 |archive-date=13 November 2007 |title=Methanol and crude spill from Prudhoe Bay pipeline |publisher=2 News KTUU.com |agency=Associated Press |date=16 October 2007 |access-date=11 June 2010}}</ref> | |||
| In the settlement of a civil suit, in July 2011 investigators from the U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration determined that the 2006 spills were a result of BPXA's failure to properly inspect and maintain the pipeline to prevent corrosion. The government issued a Corrective Action Order to BP XA that addressed the pipeline's risks and ordered pipeline repair or replacement. The U.S. Environmental Protection Agency had investigated the extent of the oil spills and oversaw BPXA's cleanup. When BP XA did not fully comply with the terms of the corrective action, a complaint was filed in March 2009 alleging violations of the Clean Water Act, the Clean Air Act and the Pipeline Safety Act. In July 2011, the U.S. District Court for the District of Alaska entered a consent decree between the United States and BPXA resolving the government's claims. Under the consent decree, BPXA paid a $25 million civil penalty, the largest per-barrel penalty at that time for an oil spill, and agreed to take measures to significantly improve inspection and maintenance of its pipeline infrastructure on the North Slope to reduce the threat of additional oil spills.<ref name=autogenerated1>{{cite web|url=https://www.justice.gov/enrd/5812.htm|title=USDOJ: Environment and Natural Resources Division : U.S. v. BP Exploration & Production, Inc. (D. La.)|work=justice.gov|access-date=15 March 2015|archive-date=29 July 2020|archive-url=https://web.archive.org/web/20200729130124/https://www.justice.gov/enrd/us-v-bp-exploration-production-inc-d-la|url-status=dead}}</ref><ref name=APMay32011>{{cite news| newspaper = ] |title=BP agrees to $25M penalty for 2006 Alaska spills|url= http://www.washingtonexaminer.com/bp-agrees-to-25m-penalty-for-2006-alaska-spills/article/113593 |access-date=17 September 2017|date=3 May 2011}}</ref> | |||
| ===2008 Caspian Sea gas leak=== | |||
| On 17 September 2008, a small gas leak was discovered and one gas-injection well broached to surface in the area of the Central Azeri platform at the ], a part of the ] (ACG) project, in the Azerbaijan sector of ].<ref name=reuters170908> | |||
| {{cite news | {{cite news | ||
| | url = |
| url = https://www.reuters.com/article/bp-azerbaijan-idUSLH11994620080917 | ||
| | title = BP halves Azeri oil production after gas leak | | title = BP halves Azeri oil production after gas leak | ||
| | date = 17 September 2008 | | date = 17 September 2008 | ||
| | first = Lada | last = Yevgrashina | |||
| | |
| work= ] | ||
| | |
| access-date = 1 July 2012}} | ||
| </ref><ref name=bloomberg170908> | |||
| {{cite news | |||
| | url = http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEw7N7UprOpc&refer=energy | |||
| | title = BP Shuts Down Two Azeri Oil Platforms After Gas Leak | |||
| | date = 17 September 2008 | |||
| | first = Eduard | last = Gismatullin | |||
| | agency = ] | |||
| | accessdate = 2012-07-01}} | |||
| </ref><ref name=time181210> | </ref><ref name=time181210> | ||
| {{cite news | {{cite news | ||
| | url = http://www.time.com/time/world/article/0,8599,2037830,00.html | | url = http://www.time.com/time/world/article/0,8599,2037830,00.html | ||
| | archive-url = https://web.archive.org/web/20101219072048/http://www.time.com/time/world/article/0,8599,2037830,00.html | |||
| | title = WikiLeaks: BP's 'Other' Offshore Drilling Disaster | |||
| | url-status = dead | |||
| | archive-date = 19 December 2010 | |||
| | title = WikiLeaks: BP's 'Other' Offshore Drilling Disaster | |||
| | date = 1 July 2010 | | date = 1 July 2010 | ||
| | first = Vivienne | last = Walt | |||
| | newspaper = ] | | newspaper = ] | ||
| | |
| access-date = 1 July 2012}} | ||
| </ref> The platform was shut down and the staff was evacuated.<ref name=reuters170908 |
</ref> The platform was shut down and the staff was evacuated.<ref name=reuters170908/> As the West Azeri Platform was being powered by a cable from the Central Azeri Platform, it was also shut down.<ref name=wikileaks081008> | ||
| {{cite report | {{cite report | ||
| | url = |
| url = https://www.theguardian.com/world/us-embassy-cables-documents/172998 | ||
| | title = US embassy cables: BP may never know cause of gas leak, US told | | title = US embassy cables: BP may never know cause of gas leak, US told | ||
| | |
| trans-title=Original title: Azerbaijan seeks to develop ACG deep gas, can supply Georgia with winter gas | ||
| | date = 8 October 2008 | | date = 8 October 2008 | ||
| | author = US Embassy in Azerbaijan | |||
| | newspaper = ] | | newspaper = ] | ||
| | |
| access-date = 1 July 2012}} | ||
| </ref> Production at the West Azeri Platform resumed on 9 October 2008 and at the Central Azeri Platform in December 2008.<ref name=reuters101008> | |||
| </ref> According to leaked US Embassy cables, BP had been "exceptionally circumspect in disseminating information" and revealed that BP thought the cause for the blowout was a bad cement job. 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. <ref>{{Cite news|title=WikiLeaks cables: BP suffered blowout on Azerbaijan gas platform |author=Tim Webb |work=The Guardian |location=UK |date=16 December 2010 |accessdate=16 December 2010 |url=http://www.guardian.co.uk/world/2010/dec/15/wikileaks-bp-azerbaijan-gulf-spill | archiveurl= http://web.archive.org/web/20101216102041/http://www.guardian.co.uk/world/2010/dec/15/wikileaks-bp-azerbaijan-gulf-spill| archivedate= 16 December 2010 <!--DASHBot-->| deadurl= no}}</ref> <ref name=time181210/><ref name=wikileaks150109> | |||
| {{cite report | |||
| | url = http://www.guardian.co.uk/world/us-embassy-cables-documents/187280 | |||
| | title = US embassy cables: BP blames gas leak on 'bad cement job' | |||
| | trans_title = Original title: Azerbaijan: BP downbeat on 2009 Shah Deniz phase two progress | |||
| | date = 15 January 2009 | |||
| | author = US Embassy in Azerbaijan | |||
| | newspaper = ] | |||
| | accessdate = 2012-07-01}} | |||
| </ref> Production at the Western Azeri Platform resumed on 9 October 2008 and at the Central Azeri Platform in December 2008.<ref name=reuters101008> | |||
| {{cite news | {{cite news | ||
| | url = |
| url = https://www.reuters.com/article/bp-azerbaijan-production/bp-resumes-oil-output-at-one-azeri-platform-idUSLA26181320081010 | ||
| | title = BP resumes oil output at one Azeri platform | | title = BP resumes oil output at one Azeri platform | ||
| | date = 10 October 2008 | | date = 10 October 2008 | ||
| | first = Lada | last = Yevgrashina | |||
| | |
| work= ] | ||
| | |
| access-date = 1 July 2012}} | ||
| </ref><ref name=reuters231208> | </ref><ref name=reuters231208> | ||
| {{cite news | {{cite news | ||
| | url = |
| url = https://uk.reuters.com/article/bp-field-resumption/bp-partially-resumes-production-at-azeri-platform-idUKLN67920520081223 | ||
| | archive-url = https://web.archive.org/web/20200802010429/https://uk.reuters.com/article/bp-field-resumption/bp-partially-resumes-production-at-azeri-platform-idUKLN67920520081223 | |||
| | url-status = dead | |||
| | archive-date = 2 August 2020 | |||
| | title = BP partially resumes production at Azeri platform | | title = BP partially resumes production at Azeri platform | ||
| | date = 23 December 2008 | | date = 23 December 2008 | ||
| | first = Lada | last = Yevgrashina | |||
| | |
| work= ] | ||
| | |
| access-date = 1 July 2012}} | ||
| </ref> According to leaked US Embassy cables, BP had been "exceptionally circumspect in disseminating information" and showed that BP thought the cause for the blowout was a bad cement job. 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.<ref name=time181210/><ref>{{Cite news|title=WikiLeaks cables: BP suffered blowout on Azerbaijan gas platform |author=Tim Webb |work=]|location=UK |date=16 December 2010 |access-date=16 December 2010 |url=https://www.theguardian.com/world/2010/dec/15/wikileaks-bp-azerbaijan-gulf-spill | archive-url= https://web.archive.org/web/20101216102041/http://www.guardian.co.uk/world/2010/dec/15/wikileaks-bp-azerbaijan-gulf-spill| archive-date= 16 December 2010 |url-status = live}}</ref><ref name=wikileaks150109> | |||
| {{cite report | |||
| | url = https://www.theguardian.com/world/us-embassy-cables-documents/187280 | |||
| | title = US embassy cables: BP blames gas leak on 'bad cement job' | |||
| | trans-title=Original title: Azerbaijan: BP downbeat on 2009 Shah Deniz phase two progress | |||
| | date = 15 January 2009 | |||
| | author = US Embassy in Azerbaijan | |||
| | newspaper = ] | |||
| | access-date = 1 July 2012}} | |||
| </ref> | </ref> | ||
| ===California storage tanks=== | |||
| ===2010 Deepwater Horizon well explosion=== | |||
| {{Main|Deepwater Horizon explosion}} | |||
| ] combat the fire on the ''Deepwater Horizon'' while the ] searches for missing crew]] | |||
| The 20 April 2010 explosion on BP's offshore drilling rig in the Gulf of Mexico resulted in the deaths of 11 people and injured 16 others.<ref name=autogenerated4></ref><ref>{{cite web|url=http://www.nwf.org/News-and-Magazines/National-Wildlife/Birds/Archives/2010/Oil-Spill-Birds.aspx |title="Bird Habitats Threatened by Oil Spill" from ''National Wildlife'' |publisher=National Wildlife Federation |date=30 April 2010 |accessdate=3 May 2010| archiveurl= http://web.archive.org/web/20100504061253/http://www.nwf.org/News-and-Magazines/National-Wildlife/Birds/Archives/2010/Oil-Spill-Birds.aspx| archivedate= 4 May 2010 | deadurl= no}}</ref><ref name=autogenerated6>{{Cite video| url = http://wcco.com/video/?id=78277| title = Gulf Oil Slick Endangering Ecology| publisher=CBS Broadcasting | medium = web streaming| date = 30 April 2010 |archiveurl=http://web.archive.org/web-cdx/20120820025800/http://minnesota.cbslocal.com/video/?id=78277 |archivedate=20 August 2012 |accessdate=12 February 2013}}</ref> It caused the ''Deepwater Horizon'' to burn and sink, and started the largest accidental offshore oil spill in the history of the petroleum industry.<ref name=autogenerated1 /><ref>{{cite web|url=http://www.nwf.org/News-and-Magazines/National-Wildlife/Birds/Archives/2010/Oil-Spill-Birds.aspx |title="Bird Habitats Threatened by Oil Spill" from ''National Wildlife'' |publisher=National Wildlife Federation |date=30 April 2010 |accessdate=2010-05-03| archiveurl= http://web.archive.org/web/20100504061253/http://www.nwf.org/News-and-Magazines/National-Wildlife/Birds/Archives/2010/Oil-Spill-Birds.aspx| archivedate= 4 May 2010 | deadurl= no}}</ref><ref name=autogenerated5/> On September 8, 2010, BP released a 193-page report on its web site. The report places some of the blame for the accident on BP but also on Halliburton and ].<ref>{{cite news|url=http://www.oilspillnews.net/bp-oil-spill-news/all-eyes-on-bp-report-on-gulf-oil-spill-disaster-%C2%AB-artesia-news/|title=All eyes on BP report on Gulf|last1=Weber|first1=Harry R.|last2=Kunzelman|first2=Michael|last3=Cappiello|first3=Dina|work=Oil Spill News/Artesia News|agency=]|date=2010-09-08|accessdate=2011-05-20}}</ref> Responding to the report, Transocean and Halliburon placed all blame on BP. <ref>Mark Clayton for the Christian Science Monitor. September 8, 2010 </ref> On November 9, 2010, a report by the Oil Spill Commission said that there had been "a rush to completion" on the well and criticized poor management decisions. "There was not a culture of safety on that rig," the co-chair said.<ref>{{cite news|url=http://www.bbc.co.uk/news/world-us-canada-11720907|title=Gulf oil spill: President's panel says firms complacent|publisher=BBC|date= 9 November 2010|accessdate= 12 November 2010}}</ref> | |||
| Santa Barbara County District Attorney sued BP West Coast Products LLC, BP Products North America, Inc., and Atlantic Richfield Company over allegations that the companies violated state laws regarding operating and maintaining motor vehicle fuel underground storage tank laws. BP settled a lawsuit for $14 million. 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. The case settled in November 2016 and was the result of collaboration among the California Attorney General's Office and several district attorney's offices across the state.<ref>{{Cite web|url=https://www.edhat.com/?nid=182278|title=Edhat | Local News From Your Community|website=www.edhat.com}}</ref> | |||
| ==Political record== | |||
| ===''Deepwater Horizon'' explosion and oil spill=== | |||
| ===Release of Lockerbie bomber=== | |||
| {{Deepwater Horizon oil spill series}} | |||
| BP admitted that it had lobbied the British government to conclude a prisoner-transfer agreement which the Libyan government had wanted to secure the release of ], the only person convicted for the 1988 ] over Scotland, which killed 270 people. BP stated that it pressed for the conclusion of prisoner transfer agreement (PTA) amid fears that delays would damage its "commercial interests" and disrupt its £900 million offshore drilling operations in the region, but it denied claims that it had been involved in negotiations concerning the release of Megrahi.<ref></ref><ref></ref> | |||
| {{Main|Deepwater Horizon oil spill}} | |||
| {{See also|Deepwater Horizon explosion|Deepwater Horizon litigation|Deepwater Horizon Oil Spill Trust}} | |||
| {{external media | width = 210px | float = right | |||
| | headerimage= | video1 = (54:25), ] on ]<ref name="PBS A">{{cite web | title =Frontline: The Spill | publisher=] on ] | date = 26 October 2010 | url =http://video.pbs.org/video/1625293496/ | access-date =27 March 2013 }}</ref> }}] combat the fire on the ''Deepwater Horizon'' while the ] searches for missing crew.]] | |||
| ] ]) observed in emulsified oil on 29 April 2010]] | |||
| The ''Deepwater Horizon'' oil spill was a major industrial accident on the ], which killed 11 people and injured 16 others, leaked about {{convert|4.9|Moilbbl|MUSgal m3}} of oil with plus or minus 10% uncertainty,<ref name=report2011/> which makes it the largest accidental marine oil spill in the history of the petroleum industry,<ref name=AccidentalRelease/><ref name=MHL>{{cite report | title = Deepwater Horizon Marine Casualty Investigation Report | date = 17 August 2011 | url= http://www.register-iri.com/forms/upload/Republic_of_the_Marshall_Islands_DEEPWATER_HORIZON_Marine_Casualty_Investigation_Report-Low_Resolution.pdf | publisher= Office of the Maritime Administrator |access-date= 25 February 2013}}</ref> and cost to the company more than $65 billion of cleanup costs, charges and penalties.<ref name=reuters160118> | |||
| {{Cite news | |||
| | url = https://uk.reuters.com/article/uk-bp-deepwaterhorizon/bp-deepwater-horizon-costs-balloon-to-65-billion-idUKKBN1F50O6 | |||
| | title = BP Deepwater Horizon costs balloon to $65 billion | |||
| | last1 = Bousso | first1 = Ron | |||
| | work=] | |||
| | date = 16 January 2018 | |||
| | access-date = 31 May 2018|archive-url=https://web.archive.org/web/20180116133342/https://uk.reuters.com/article/uk-bp-deepwaterhorizon/bp-deepwater-horizon-costs-balloon-to-65-billion-idUKKBN1F50O6|archive-date=16 January 2018}}</ref><ref name=ft010518> | |||
| {{Cite news | |||
| | url = https://www.ft.com/content/ab8a602e-4d18-11e8-8a8e-22951a2d8493 | |||
| | title = BP hints at future dividend increases | |||
| | last1 = Ward | first1 = Andrew | |||
| | newspaper =] | |||
| | date = 1 May 2018 | |||
| | access-date = 31 May 2018 | |||
| | url-access=subscription }} | |||
| </ref> On 20 April 2010, the semi-submersible exploratory offshore drilling rig '']'' located in the ] in the Gulf of Mexico ] after a ]. After burning for two days, the rig sank. The well was finally capped on 15 July 2010. Of {{convert|4.9|Moilbbl|MUSgal m3}} of leaked oil {{convert|810000|oilbbl|MUSgal m3}} was collected or burned while {{convert|4.1|Moilbbl|MUSgal m3}} entered the Gulf waters.<ref name=reuters220213>{{cite news | url= https://uk.reuters.com/article/us-bp-spill/u-s-gulf-coast-oil-spillers-about-to-face-day-in-court-idUSBRE91K1CJ20130222 | archive-url= https://web.archive.org/web/20200727043632/https://uk.reuters.com/article/us-bp-spill/u-s-gulf-coast-oil-spillers-about-to-face-day-in-court-idUSBRE91K1CJ20130222 | url-status= dead | archive-date= 27 July 2020 |title= U.S. Gulf Coast oil spillers about to face day in court | first1 = Kristen | last1 = Hays | first2 = Braden | last2 = Reddall | work=] |date=22 February 2013 |access-date = 7 June 2013}}</ref><ref name=chron270413>{{cite news | url = http://www.chron.com/business/energy/article/BP-seeks-to-spread-blame-as-first-phase-of-spill-4443183.php |title= BP seeks to spread blame as first phase of spill trial ends | first1 = Harry R. | last1 = Weber | newspaper = ] |date=27 April 2013 | access-date = 7 June 2013}}</ref> {{convert|1.8|e6USgal|m3}} of ] dispersant was applied.<ref>{{cite news|title=US to give BP evidence on size of Gulf oil spill |url= https://www.reuters.com/article/us-bp-oilspill/u-s-to-give-bp-evidence-on-size-of-gulf-oil-spill-idUSBRE83A1FR20120411| first=Jonathan |last=Stempel | work = ]| date= 11 April 2012 |access-date = 17 November 2012}}</ref><ref>{{cite news |title= One Year After BP Oil Spill, At Least 1.1 Million Barrels Still Missing |url= http://www.scientificamerican.com/article.cfm?id=one-year-after-bp-oil-spill-millions-of-barrels-oil-missing |newspaper= Scientific American |first= David |last= Biello |date= 25 April 2011 |access-date= 17 November 2012 |archive-url= https://web.archive.org/web/20121114075809/http://www.scientificamerican.com/article.cfm?id=one-year-after-bp-oil-spill-millions-of-barrels-oil-missing |archive-date= 14 November 2012 |url-status = dead|df= dmy-all }}</ref> | |||
| The spill had a strong economic impact on the ]'s economy sectors such as fishing and tourism.<ref name=bloomberg070313/> | |||
| ====Environmental impact==== | |||
| Oil spill caused damages across a range of species and habitats in the Gulf.<ref name=ainsworth> | |||
| {{Cite journal | |||
| | pmc = 5784916 | |||
| | title = Impacts of the Deepwater Horizon oil spill evaluated using an end-to-end ecosystem model | |||
| | last1 = Ainsworth | first1 = Cameron H. | |||
| | journal = PLOS ONE | |||
| | volume = 13 | |||
| | issue = 1 | |||
| | pages = e0190840 | |||
| | date = 25 January 2018 | |||
| | doi = 10.1371/journal.pone.0190840| pmid = 29370187 | |||
| | bibcode = 2018PLoSO..1390840A | |||
| | doi-access = free | |||
| }} | |||
| </ref> Researchers say the oil and dispersant mixture, including ], permeated the ] through ].<ref name="AutoBB-174">{{cite news|last=Schneyer |first=Joshua |url= https://uk.reuters.com/article/us-oil-spill-carcinogens/u-s-oil-spill-waters-contain-carcinogens-report-idUSTRE68T6FS20100930 |archive-url= https://web.archive.org/web/20180905070649/https://uk.reuters.com/article/us-oil-spill-carcinogens/u-s-oil-spill-waters-contain-carcinogens-report-idUSTRE68T6FS20100930 |url-status= dead |archive-date= 5 September 2018 |title=U.S. oil spill waters contain carcinogens: report |work=]|date=27 September 2010 |access-date=1 October 2010}}</ref><ref name="ortmann">{{cite journal | title= Dispersed Oil Disrupts Microbial Pathways in Pelagic Food Webs | first1 = Alice C. | last1 = Ortmann | first2 = Jennifer |last2 = Anders | first3 = Naomi | last3 = Shelton | first4 = Limin | last4 =Gong | first5 = Anthony G. | last5 = Moss | first6 = Robert H. | last6 = Condon | journal = ] |date=July 2012 | volume = 7 | issue = 7 | doi = 10.1371/journal.pone.0042548 | pmid = 22860136 | id =e42548 | pages = e42548 | pmc=3409195| bibcode = 2012PLoSO...742548O | doi-access = free }}</ref><ref name="AutoBB-187">{{cite journal|url=https://www.sciencedaily.com/releases/2012/03/120320142100.htm |title=Oil from Deepwater Horizon disaster entered food chain in the Gulf of Mexico |journal=Geophysical Research Letters |volume=39 |pages=n/a |doi=10.1029/2011GL049505 |publisher=Sciencedaily.com |date=20 March 2012 |access-date=1 June 2012|last1=Mitra |first1=Siddhartha |last2=Kimmel |first2=David G. |last3=Snyder |first3=Jessica |last4=Scalise |first4=Kimberly |last5=McGlaughon |first5=Benjamin D. |last6=Roman |first6=Michael R. |last7=Jahn |first7=Ginger L. |last8=Pierson |first8=James J. |last9=Brandt |first9=Stephen B. |last10=Montoya |first10=Joseph P. |last11=Rosenbauer |first11=Robert J. |last12=Lorenson |first12=Thomas D. |last13=Wong |first13=Florence L. |last14=Campbell |first14=Pamela L. |issue=1 |hdl=10342/4283 |hdl-access=free |bibcode=2012GeoRL..39.1605M |s2cid=46759667 }}</ref> Toxicological effects have been documented in ] and ] fish, ] communities, mammals, birds and turtles, deep-water corals, plankton, ], and microbial communities. Effects on different populations consist of increased mortality or as sub-lethal impairment on the organisms' ability to forage, reproduce and avoid predators.<ref name=ainsworth/> 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,<ref>{{cite web|url= https://www.seeker.com/record-dolphin-sea-turtle-deaths-since-gulf-spill-1767378408.html |title=Record Dolphin, Sea Turtle Deaths Since Gulf Spill|work=DNews|access-date=15 March 2015}}</ref> and half the ]s examined in a December 2013 study were seriously ill or dying. BP said the report was "inconclusive as to any causation associated with the spill."<ref name="dolphins-huffpo-2-14">{{cite news | url=http://www.huffingtonpost.ca/2014/02/12/bp-oil-spill-dolphins_n_4774754.html | title=BP Oil Spill: Dolphins Plagued By Death, Disease Years After Rig Explosion | work=] | date=12 February 2014 | access-date=17 February 2014}}</ref><ref name="Independent-dolphins-2-14">{{cite news | url=https://www.independent.co.uk/news/world/americas/dolphins-suffering-miscarriage-lung-disease-losing-teeth-after-bp-oil-spill-researchers-claim-9134045.html | title=Dolphins 'suffering miscarriage, lung disease, losing teeth after BP oil spill' researchers claim | work=] | date=17 February 2014 | access-date=17 February 2014 | author=Gander, Kashmira | location=London}}</ref> | |||
| Studies in 2013 suggested that as much as one-third of the released oil remains in the gulf. Further research suggested that the oil on the bottom of the seafloor was not degrading.<ref name="bathtub">{{cite web|url=https://www.cbsnews.com/news/study-dirty-bathtub-buried-oil-from-bp-spill/|title=Study: "Dirty bathtub" buried oil from BP spill|date=29 January 2013|work=cbsnews.com|access-date=15 March 2015}}</ref> Oil in affected coastal areas increased erosion due to the death of mangrove trees and marsh grass.<ref>{{cite web|url=http://www.knoxnews.com/news/2013/apr/28/ut-experts-bp-oil-spill-gone-from-deep-ocean-but/|title=UT experts: BP oil spill gone from deep ocean, but remains in marshes|author=Megan Boehnke|work=KNS|access-date=15 March 2015|archive-date=28 February 2014|archive-url=https://web.archive.org/web/20140228050330/http://www.knoxnews.com/news/2013/apr/28/ut-experts-bp-oil-spill-gone-from-deep-ocean-but/|url-status=dead}}</ref><ref name="Dermansky 4-20-13">{{cite news|last=Dermansky|first=Julie|title=Three Years After the BP Spill, Tar Balls and Oil Sheen Blight Gulf Coast|url=https://www.theatlantic.com/national/archive/2013/04/three-years-after-the-bp-spill-tar-balls-and-oil-sheen-blight-gulf-coast/275139/|access-date=29 April 2013|newspaper=]|date=20 April 2013}}</ref><ref>{{cite journal|title=Degradation and resilience in Louisiana salt marshes after the BP–Deepwater Horizon oil spill|journal=Proceedings of the National Academy of Sciences|volume=109|issue=28|pages=11234–11239|doi=10.1073/pnas.1204922109|pmid=22733752|pmc=3396483|year=2012|last1=Silliman|first1=B. R.|last2=Van De Koppel|first2=J.|last3=McCoy|first3=M. W.|last4=Diller|first4=J.|last5=Kasozi|first5=G. N.|last6=Earl|first6=K.|last7=Adams|first7=P. N.|last8=Zimmerman|first8=A. R.|bibcode=2012PNAS..10911234S|doi-access=free}}{{dead link|date=May 2018}}</ref> | |||
| Researchers looking at sediment, seawater, biota, and seafood found toxic compounds in high concentrations that they said was due to the added oil and dispersants.<ref>{{cite journal|title=Distribution and concentrations of petroleum hydrocarbons associated with the BP/Deepwater Horizon Oil Spill, Gulf of Mexico|doi=10.1016/j.marpolbul.2013.05.029|pmid = 23831318|volume=73|issue = 1|pages=129–143|journal=Marine Pollution Bulletin|year=2013|last1=Sammarco|first1=Paul W.|last2=Kolian|first2=Steve R.|last3=Warby|first3=Richard A.F.|last4=Bouldin|first4=Jennifer L.|last5=Subra|first5=Wilma A.|last6=Porter|first6=Scott A.|bibcode=2013MarPB..73..129S |doi-access=free}}</ref> Although Gulf fisheries recovered in 2011,<ref name="NOAA-2011 fisheries">{{cite web | url=http://www.noaanews.noaa.gov/stories2012/20120919_fisheries2011report.html | title=U.S. seafood landings reach 14-year high in 2011 | publisher=U.S. National Oceanic and Atmospheric Administration | date=5 October 2012 | access-date=17 February 2014}}</ref> a 2014 study of the effects of the oil spill on ] by researchers at ] and the ], published in the journal '']'', found that toxins released by the oil spill sent fish into cardiac arrest. The study found that even very low concentrations of crude oil can slow the pace of fish heartbeats. BP disputed the study, which was conducted as part of the federal Natural Resource Damage Assessment process required by the Oil Pollution Act.<ref name="LATimes-fish-toxins">{{cite news | url=https://www.latimes.com/science/sciencenow/la-sci-sn-tuna-hearts-oil-spill-toxins-20140213,0,5212912.story | title=Toxins released by oil spills send fish hearts into cardiac arrest | work=] | date=13 February 2014 | access-date=15 February 2022 | last=Sahagun |first=Louis |archive-url=https://web.archive.org/web/20211111072715/https://www.latimes.com/science/sciencenow/la-sci-sn-tuna-hearts-oil-spill-toxins-20140213-story.html |archive-date=11 November 2021 |url-status=live}}</ref><ref name="NOLA 2-14">{{cite news | url=http://www.nola.com/environment/index.ssf/2014/02/bp_deepwater_horizon_spill_oil.html | title=BP Deepwater Horizon spill oil causes heart damage that can kill tuna, new study finds | work=The Times-Picayune, New Orleans | date=13 February 2014 | access-date=17 February 2014 | author=Schleifstein, Mark}}</ref> The study also found that oil already broken down by wave action and chemical dispersants was more toxic than fresh oil.<ref name="Australian - 2014 bluefin study">{{cite news | url=http://www.theaustralian.com.au/news/health-science/tuna-study-reveals-how-pollution-causes-heart-problems/story-e6frg8y6-1226826877064 | title=Tuna study reveals how pollution causes heart problems | work=The Australian | date=14 February 2014 | access-date=18 February 2014}}</ref> 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 ]'', found that tuna and amberjack that were exposed to oil from the spill developed deformities of the heart and other organs. BP responded that the concentrations of oil in the study were a level rarely seen in the Gulf, but ''The New York Times'' reported that the BP statement was contradicted by the study.<ref name="Wines-24-March-14">{{cite news|last=Wines|first=Michael|title=Fish Embryos Exposed to Oil From BP Spill Develop Deformities, a Study Finds|url=https://www.nytimes.com/2014/03/25/us/fish-embryos-exposed-to-oil-from-bp-spill-develop-deformities-a-study-finds.html|access-date=25 March 2014|newspaper=]|date=24 March 2014}}</ref> | |||
| ====Effects on human health==== | |||
| Research discussed at a 2013 conference included preliminary results of an ongoing study being done by the ] indicating that oil spill cleanup workers carry ] of chemicals contained in the spilled oil and the dispersants used.<ref name="nola220113">{{cite web|url=http://www.nola.com/news/gulf-oil-spill/index.ssf/2013/01/bp_deepwater_horizon_spill_sci.html|title=BP Deepwater Horizon spill: Scientists say seafood safe, but health effects being measured|work=NOLA.com|access-date=15 March 2015}}</ref> A separate study is following the health issues of women and children affected by the spill. Several studies found that a "significant percentage" of Gulf residents reported mental health problems such as anxiety, depression and ].<ref name="nola220113"/> According to a ] study investigating the health effects among children living less than 10 miles from the coast, more than a third of the parents report physical or mental health symptoms among their children.<ref name=nola220113 /> | |||
| Australia's '']'' reported that people living along the gulf coast were becoming sick from the mixture of Corexit and oil.<ref>{{cite web|url=http://sixtyminutes.ninemsn.com/article.aspx?id=8706910 |archive-url=https://archive.today/20131030100741/http://sixtyminutes.ninemsn.com/article.aspx?id=8706910 |url-status = dead|archive-date=30 October 2013 |title=Crude Solution |work=sixtyminutes |access-date=15 March 2015 }}</ref> ], of the ''Deepwater Horizon'' oil spill Strategic Sciences Working Group, says "BP told the public that Corexit was 'as harmless as Dawn dishwashing liquid'...But BP and the EPA clearly knew about the toxicity of the Corexit long before this spill." According to Shaw, BP's own safety sheet on Corexit says that there are "high and immediate human health hazards".<ref>{{cite web|url=http://www.aljazeera.com/indepth/features/2013/10/bp-widespread-human-health-crisis-2013102717831227732.html|title=BP's 'widespread human health crisis'|author=Dahr Jamail|work=aljazeera.com|access-date=15 March 2015}}</ref> Cleanup workers were not provided safety equipment by the company, and the safety manuals were "rarely if ever" followed, or distributed to workers, according to a '']'' investigation. The safety manuals read: "Avoid breathing vapor" and "Wear suitable protective clothing."<ref>{{Cite web|url=https://www.newsweek.com/what-bp-doesnt-want-you-know-about-2010-gulf-spill-63015|title=What BP Doesn't Want You to Know About the 2010 Gulf Spill|author=Mark Hertsgaard|date=22 April 2013|website=]}}</ref><ref>{{cite web|url=http://www.democracynow.org/2010/5/27/coast_guard_grounds_ships_involved_in|title=Coast Guard Grounds Ships Involved in Spill Cleanup After 7 Fall Ill; BP Reportedly Preventing Fishermen from Wearing Respirators|work=Democracy Now!|access-date=15 March 2015}}</ref> Oil clean up workers reported that they were not allowed to use respirators, and that their jobs were threatened if they did.<ref>{{cite web|last=Vanhemert|first=Kyle|title=BP Reportedly Preventing Clean-Up Workers From Wearing Respirators|url=https://gizmodo.com/5582758/bp-reportedly-preventing-clean-up-workers-from-wearing-respirators|work=Gizmodo|date=8 July 2010 |access-date=5 March 2014}}</ref><ref>{{cite news|last=Cohen|first=Elizabeth|title=Fisherman files restraining order against BP|url=http://edition.cnn.com/2010/HEALTH/05/31/oil.spill.order/|publisher=]|access-date=5 March 2014|date=31 May 2010}}</ref><ref>{{cite news|last=Schor|first=Elana|title=Petition Urges Obama Admin to Protect Gulf Spill Cleanup Workers|url=https://www.nytimes.com/gwire/2010/07/09/09greenwire-petition-urges-obama-admin-to-protect-gulf-spi-60345.html|work=]|access-date=5 March 2014|date=9 July 2010}}</ref> | |||
| A peer-reviewed study published in '']'' reported significantly altered blood profiles of individuals exposed to the spilled oil and dispersants that put them at increased risk of developing liver cancer, leukemia and other disorders.<ref>{{cite web|url=http://www.elsevier.com/about/press-releases/research-and-journals/study-reveals-link-between-oil-spill-exposure-and-hematologic-and-hepatic-toxicity|title=Study Reveals Link Between Oil Spill Exposure and Hematologic and Hepatic Toxicity|work=elsevier.com|access-date=15 March 2015}}</ref> BP disputed its methodology and said other studies supported its position that dispersants did not create a danger to health.<ref name="BP gulf website - 13 Nov 2013">{{cite web|title=The Facts About Dispersants, November 13, 2013|url=http://www.thestateofthegulf.com/our-view/content/our-view/the-facts-about-dispersants/|archive-url=https://web.archive.org/web/20131212095734/http://www.thestateofthegulf.com/our-view/content/our-view/the-facts-about-dispersants/|url-status = dead|archive-date=12 December 2013|work=The State of the Gulf: BP Sets the Record Straight|publisher=BP|access-date=5 December 2013}}</ref> | |||
| In 2014, a study was published in ''Proceedings of the ]'' which found heart deformities in fish exposed to oil from the spill. The researchers said that their results probably apply to humans as well as fish.<ref name="Wines-24-March-14" /> | |||
| ====Civil and criminal suits==== | |||
| On 15 December 2010, the Department of Justice filed a civil and criminal suit against BP and other defendants for violations under the ] in the U.S. District Court for the Eastern District of Louisiana.<ref>US Department of Justice </ref><ref>John Wyeth Griggs. (2011) {{Webarchive|url=https://web.archive.org/web/20130501163116/http://energyschool.org.uk/conference/files/BP-GULF-OF-MEXICO-OIL-SPILL.pdf |date=1 May 2013 }} Energy Law Journal. Vol. 32:57–79</ref>{{rp|70}} The case was consolidated with about 200 others, including those brought by state governments, individuals, and companies under Multi-District Litigation docket MDL No. 2179, before U.S. District Judge ].<ref>Staff, Environmental Law Institute. </ref><ref>{{cite web|url=http://www.laed.uscourts.gov/OilSpill/OilSpill.htm|title=U.S. District Court – Eastern District of Louisiana|work=uscourts.gov|access-date=15 March 2015}}</ref> | |||
| In November 2012, BP and the ] reached a $4 billion settlement of all federal criminal charges related to the explosion and spill. Under the settlement, BP agreed to plead guilty to 11 felony 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. BP also paid $525 million to settle civil charges by the Securities and Exchange Commission that it misled investors about the flow rate of oil from the well.<ref name="NYTimes2012-11"/><ref>Staff, Environmental Law Institute. February 2013. </ref> At the same time, the US government filed criminal charges against three BP employees; two site managers were charged with manslaughter and negligence, and one former vice president with obstruction.<ref name="NYTimes2012-11"/> | |||
| Judge Barbier ruled in the first phase of the case that BP had committed gross negligence and that "its employees took risks that led to the largest environmental disaster in U.S. history." He apportioned fault at 67% for BP, 30% for ] and 3% for ]. Barbier ruled that BP was "reckless" and had acted with "conscious disregard of known risks."<ref name="Bloomberg-sept-5-14"/><ref name="Times - barbier - 18 billion"/> | |||
| ====Claims settlement==== | |||
| In June 2010, after a meeting in the White House between President ] and BP executives, the president announced that BP would pay $20 billion into a ] that will be used to compensate victims of the oil spill. BP also set aside $100 million to compensate oil workers who lost their jobs because of the spill.<ref name="NPR - gulf spill fund">{{cite web | url=https://www.npr.org/templates/story/story.php?storyId=127879786 | title=White House: BP Will Pay $20B into Gulf Spill Fund | publisher=]| date=16 June 2010 | access-date=17 February 2014}}</ref><ref name="WSJ - 6-10-10">{{cite news | url=https://www.wsj.com/news/articles/SB10001424052748704198004575310571698602094 | title=BP Agrees to $20 Billion Fund | work=] | date=17 June 2010 | access-date=17 February 2014 |author1=Weisman, Jonathan |author2=Chazan, Guy |name-list-style=amp }}</ref> | |||
| On 2 March 2012, BP and businesses and residents affected by the spill reached a settlement of roughly 100,000 suits claiming economic losses. BP estimated that the settlement cost more than $9.2 billion.<ref name="2014 appeal fail">{{cite news | url=https://www.reuters.com/article/us-bpspill-ruling-idUSBREA0A04920140111 | title=BP appeal to stop 'fictitious' U.S. oil spill claims fails | date=11 January 2014 | work=]| access-date=18 January 2014}}</ref><ref name=settleAP>{{cite news|title=BP begins to put spill behind it with settlement|first1 =Jonathan | last1 = Fahey | first2 = Chris | last2 = Kahn |date=3 March 2012|newspaper =]|agency=]|url=https://www.boston.com/news/nation/articles/2012/03/03/bp_begins_to_put_spill_behind_it_with_settlement/|access-date=18 January 2014}}</ref> | |||
| In 2015, BP and five states agreed to an $18.5 billion settlement to be used for Clean Water Act penalties and various claims.<ref name=abc020715/> | |||
| === 2022 Ohio refinery fire === | |||
| On 20 September 2022, a fire at BP's Husky ] refinery caused the death of two workers there. The fire was put out that day, but the refinery remained shut down. The refinery's shutdown was expected to increase American petrol prices.<ref>{{Cite news |date=21 September 2022 |title=BP refinery fire in Ohio kills 2 workers |work=] |url=https://www.ft.com/content/8c72b150-5934-4953-8d7d-9d607698de67 |access-date=22 September 2022}}</ref> | |||
| ==Political influence== | |||
| ===Lobbying for Libyan prisoner transfer release=== | |||
| BP lobbied the British government to conclude a prisoner-transfer agreement which the Libyan government had wanted to secure the release of ], the only person convicted for the 1988 ] over Scotland, which killed 270 people. BP stated that it pressed for the conclusion of prisoner transfer agreement amid fears that delays would damage its "commercial interests" and disrupt its £900 million offshore drilling operations in the region, but it said that it had not been involved in negotiations concerning the release of Megrahi.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7892112/BP-admits-lobbying-UK-over-Libya-prisoner-transfer-scheme-but-not-Lockerbie-bomber.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7892112/BP-admits-lobbying-UK-over-Libya-prisoner-transfer-scheme-but-not-Lockerbie-bomber.html |archive-date=11 January 2022 |url-status=live|title=BP admits 'lobbying UK over Libya prisoner transfer scheme but not Lockerbie bomber'|date=15 July 2010|work=]|access-date=15 March 2015|url-access=subscription}}{{cbignore}}</ref><ref>{{cite web|url=http://www.sfgate.com/world/article/BP-s-admits-role-in-Lockerbie-bomber-s-release-3258960.php|title=BP's admits role in Lockerbie bomber's release|work=SFGate|date=16 July 2010|access-date=15 March 2015}}</ref> | |||
| ===Political contributions and lobbying=== | ===Political contributions and lobbying=== | ||
| In February 2002, BP's then-chief executive, ], renounced the practice of corporate ], saying: "That's why we've decided, as a global policy, that from now on we will make no political contributions from corporate funds anywhere in the world."<ref>{{Cite news|author1=Terry Macalister |author2=Michael White |name-list-style=amp |url=https://www.theguardian.com/Archive/Article/0,4273,4365524,00.html |title=BP stops paying political parties |work=] |date=16 April 2002 |access-date=5 June 2010 |location=London |archive-url=https://web.archive.org/web/20081216115036/http://www.guardian.co.uk/Archive/Article/0%2C4273%2C4365524%2C00.html |archive-date=16 December 2008 |url-status = live}}</ref> When the Washington Post reported in June 2010 that BP North America "donated at least $4.8 million in corporate contributions in the past seven years to political groups, partisan organizations and campaigns engaged in federal and state elections", mostly to oppose ballot measures in two states aiming to raise taxes on the oil industry, the company said that the commitment had only applied to contributions to individual candidates.<ref>{{Cite news | issn = 0190-8286 | last = Leonnig | first = Carol D. | title = Despite BP corporate code, firm has made political contributions | newspaper = ] | access-date = 23 March 2013 | date = 29 June 2010 | url = https://www.washingtonpost.com/wp-dyn/content/article/2010/06/29/AR2010062903384.html }}</ref> | |||
| According to the ], BP was the United States' hundred and thirty-sixth largest donor to political campaigns, having contributed more than US$6.6 million since 1989, 70% and 29% of which went to ] and ] recipients, respectively.<ref>{{cite web|url=http://www.opensecrets.org/orgs/list.php|title=Top All-Time Donors, 1989-2012|publisher=]|accessdate=27 March 2013}}</ref> | |||
| During the 2008 U.S. election cycle, BP employees contributed to various candidates, with Barack Obama receiving the largest amount of money,<ref>{{cite news | title = Obama was top recipient of BP-related dollars in 2008 | publisher=] | access-date = 23 March 2013 | url = http://edition.cnn.com/2010/POLITICS/05/05/bp.lobbying/index.html | date=5 May 2010}}</ref> broadly in line with contributions from Shell and Chevron, but significantly less than those of Exxon Mobil.<ref>{{cite web | title = Exxon, Chevron, BP Greased Obama's Campaign | access-date = 23 March 2013 | url = https://www.usnews.com/news/blogs/washington-whispers/2011/03/14/exxon-chevron-bp-greased-obamas-campaign }}</ref> | |||
| In February 2002, BP's then chief executive, ], renounced the practice of corporate ], noting: "That's why we've decided, as a global policy, that from now on we will make no political contributions from corporate funds anywhere in the world."<ref>{{Cite news|author=Terry Macalister and Michael White |url=http://www.guardian.co.uk/Archive/Article/0,4273,4365524,00.html |title=BP stops paying political parties |work=The Guardian |date= 16 April 2002|accessdate=5 June 2010 | location=London| archiveurl= http://web.archive.org/web/20100529193713/http://www.guardian.co.uk/Archive/Article/0,4273,4365524,00.html| archivedate= 29 May 2010 | deadurl= no}}</ref> When the Washington Post reported in June 2010 that BP North America "donated at least $4.8 million in corporate contributions in the past seven years to political groups, partisan organizations and campaigns engaged in federal and state elections", mostly to oppose ballot measures in two states aiming to raise taxes on the oil industry, the company clarified that the commitment had only applied to contributions to individual candidates.<ref>{{Cite news | issn = 0190-8286 | last = Leonnig | first = Carol D. | title = Despite BP corporate code, firm has made political contributions | work = The Washington Post | accessdate = 2013-03-23 | date = 2010-06-29 | url = http://www.washingtonpost.com/wp-dyn/content/article/2010/06/29/AR2010062903384.html }}</ref> | |||
| In 2009, BP spent nearly $16 million ] the ].<ref>{{Cite news|first=Antonia |last=Juhasz |url=https://www.theguardian.com/business/2010/may/02/bp-deepwater-horizon-oil-spills |title=BP spends millions lobbying as it drills ever deeper and the environment pays |work=The Observer |location=UK |date=2 May 2010 |access-date=6 May 2010| archive-url= https://web.archive.org/web/20100505140409/http://www.guardian.co.uk/business/2010/may/02/bp-deepwater-horizon-oil-spills| archive-date= 5 May 2010 |url-status = live}}</ref> In 2011, BP spent a total of $8,430,000 on lobbying and had 47 registered lobbyists.<ref name=autogenerated7>{{cite web|url=http://www.opensecrets.org/orgs/summary.php?cycle=A&type=P&id=D000000091|title=BP|work=opensecrets.org|access-date=15 March 2015}}</ref> | |||
| During the 2008 US election cycle, BP employees contributed to various candidates, with Barack Obama receiving the largest amount of money,<ref>{{Cite web | title = Obama was top recipient of BP-related dollars in 2008 | work = CNN | accessdate = 2013-03-23 | url = http://articles.cnn.com/2010-05-05/politics/bp.lobbying_1_bp-center-for-responsive-politics-house-energy?_s=PM:POLITICS }}</ref> broadly in line with contributions from Shell and Chevron, but significantly less than those of Exxon Mobil.<ref>{{Cite web | title = Exxon, Chevron, BP Greased Obama's Campaign | accessdate = 2013-03-23 | url = http://www.usnews.com/news/blogs/washington-whispers/2011/03/14/exxon-chevron-bp-greased-obamas-campaign }}</ref> | |||
| ===Oman 1954 War=== | |||
| In 2009 BP spent nearly $16 million ] the ].<ref>{{Cite news|first=Antonia |last=Juhasz |url=http://www.guardian.co.uk/business/2010/may/02/bp-deepwater-horizon-oil-spills |title=BP spends millions lobbying as it drills ever deeper and the environment pays |work=The Observer |location=UK |date=2 May 2010 |accessdate=6 May 2010| archiveurl= http://web.archive.org/web/20100505140409/http://www.guardian.co.uk/business/2010/may/02/bp-deepwater-horizon-oil-spills| archivedate= 5 May 2010 | deadurl= no}}</ref> In 2011, BP spent a total of $8,430,000 on lobbying and hired 47 lobbyists.<ref name=autogenerated7></ref> | |||
| {{further|Jebel Akhdar War}} | |||
| In 1937, ] (IPC), 23.75% owned by BP,<ref name="RLA"/> signed an oil concession agreement with the Sultan of Muscat. In 1952, IPC offered financial support to raise an armed force that would assist the Sultan in occupying the interior region of Oman, an area that geologists believed to be rich in oil. This led to the 1954 outbreak of ] in Oman that lasted for more than five years.<ref name="OmansInsurgencies"/> | |||
| ==Market manipulation investigations and sanctions== | |||
| ===Accusations of market manipulation=== | |||
| The ] and the ] |
The ] and the ] filed charges against BP Products North America Inc. (subsidiary of BP plc) and several BP traders, alleging they conspired to raise the price of ] by seeking to ] in 2004.<ref name=cftc> | ||
| {{cite web | {{cite web | ||
| | url = http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfbpproductscomplaint.pdf | | url = http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfbpproductscomplaint.pdf | ||
| | title = Complaint for Injunctive and Other Equitable Relief and Civil Monetary Penalties Under the Commodities Exchange Act | | title = Complaint for Injunctive and Other Equitable Relief and Civil Monetary Penalties Under the Commodities Exchange Act | ||
| | publisher |
| publisher= ] | ||
| | date = 28 June 2008 | | date = 28 June 2008 | ||
| | access-date = 9 September 2012 | |||
| }} | |||
| | format = PDF}} | |||
| </ref><ref name=msnbc290606/><ref name=chron290111> | </ref><ref name=msnbc290606/><ref name=chron290111> | ||
| {{cite news | {{cite news | ||
| Line 729: | Line 876: | ||
| | first = Tom | last = Fowler | | first = Tom | last = Fowler | ||
| | date = 29 January 2011 | | date = 29 January 2011 | ||
| | access-date = 7 September 2012}} | |||
| </ref> |
</ref> In 2006, one former trader pleaded guilty.<ref name=msnbc290606> | ||
| {{cite news | {{cite news | ||
| | url = |
| url = https://www.nbcnews.com/id/wbna13608828 | ||
| | title =BP unit accused of price manipulation | | title =BP unit accused of price manipulation | ||
| | |
| work = ] | ||
| | agency = ] | | agency = ] | ||
| | date = 29 June 2006 | | date = 29 June 2006 | ||
| | access-date = 7 September 2012}} | |||
| </ref> |
</ref> In 2007, BP paid $303 million in restitution and fines as part of an agreement to defer prosecution.<ref name=reuters200412> | ||
| {{cite news | {{cite news | ||
| | url = |
| url = https://www.reuters.com/article/financial-regulation-manipulation-idUSL2E8FJ32P20120420?irpc=932 | ||
| | title = Oil price manipulation seldom prosecuted under Obama | | title = Oil price manipulation seldom prosecuted under Obama | ||
| | first = Jeremy | last = Pelofsky | | first = Jeremy | last = Pelofsky | ||
| | |
| work = ] | ||
| | date = 20 April 2012 | | date = 20 April 2012 | ||
| | access-date = 7 September 2012}} | |||
| </ref> BP was charged with cornering and manipulating the price of TET propane in 2003 and 2004. BP paid a $125 million civil monetary penalty to the CFTC, established a compliance and ethics program, and installed a monitor to oversee BP's trading activities in the commodities markets. BP also paid $53 million into a restitution fund for victims, a $100 million criminal penalty, plus $25 million into a consumer fraud fund, as well as other payments.<ref name="CFTC-2007">{{cite web|title=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|url=http://www.cftc.gov/PressRoom/PressReleases/pr5405-07|publisher=Commodity Futures Trading Commission|access-date=29 April 2013}}</ref> Also in 2007, four other former traders were charged. These charges were dismissed by a US District Court in 2009 on the grounds that the transactions were exempt under the Commodities Exchange Act because they didn't occur in a marketplace but were negotiated contracts among sophisticated companies. The dismissal was upheld by the ] | |||
| </ref> That same year, four other former traders were charged. These charges were dismissed by a U.S. District Court in 2009, and the dismissal was upheld by the ] in 2011.<ref name=chron290111/> | |||
| in 2011.<ref name=chron290111/> | |||
| In November 2010, |
In November 2010, US regulators ] and ] began an investigation of BP for allegedly manipulating the gas market. The investigation relates to trading activity that occurred in October and November 2008.<ref name=guardian020211> | ||
| {{cite news | {{cite news | ||
| | url = |
| url = https://www.theguardian.com/business/2011/feb/02/bp-investigation-allegedly-manipulating-gas-market | ||
| | title = BP faces investigation for allegedly manipulating gas market | | title = BP faces investigation for allegedly manipulating gas market | ||
| | newspaper = ] | | newspaper = ] | ||
| | first = Tim | last = Webb | | first = Tim | last = Webb | ||
| | date = 2 February 2011 | | date = 2 February 2011 | ||
| | access-date = 15 September 2012 | |||
| | accessdate = 2012-09-15}} | |||
| | location=London}} | |||
| </ref><ref name=reuters020211> | </ref><ref name=reuters020211> | ||
| {{cite news | {{cite news | ||
| | url = |
| url = https://www.reuters.com/article/idINIndia-54609820110202 | ||
| | title = U.S. probes BP for gas market manipulation | | title = U.S. probes BP for gas market manipulation | ||
| | first1 = Edward | last1 = McAllister | | first1 = Edward | last1 = McAllister | ||
| | first2 = Joe | last2 = Silha | | first2 = Joe | last2 = Silha | ||
| | first3 = Tom | last3 = Bergin | | first3 = Tom | last3 = Bergin | ||
| | |
| work = ] | ||
| | date = 2 February 2011 | | date = 2 February 2011 | ||
| | access-date = 15 September 2012}} | |||
| </ref> At that time, CFTC Enforcement staff provided BP with a notice of intent to recommend charges of attempted market manipulation in violation of the Commodity Exchange Act. BP denied that it engaged in "any inappropriate or unlawful activity." In July 2011, the FERC staff issued a "Notice of Alleged Violations" saying it had preliminarily determined that several BP entities fraudulently traded physical natural gas in the Houston Ship Channel and Katy markets and trading points to increase the value of their financial swing spread positions.<ref name="naturalgasintel010811"/> | |||
| </ref> | |||
| In May 2013, the ] started an investigation into allegations the companies reported distorted prices to the price reporting agency ], in order to "manipulate the published prices" for several oil and biofuel products.<ref name=reuters150513/><ref name=ec140513/> The investigation was dropped in December 2015 due to lack of evidence.<ref name="Bloomberg071215"/> | |||
| ==Public relations== | |||
| The oil industry in general is perceived negatively by the public. In a book by John Hofmeister, the former CEO of Shell, he wrote: "Every day, tens of millions of people around the world stop at a retail gasoline station. For many, it is the most negative experience of the day, unless they have to have a tooth pulled. A retail customer has to stop, get out of the car, figure out the pump, pay in advance (like a suspected criminal),... pump the gas (trying not to acquire the smell of benzene on his or her hands), maybe clean the windows with the dingy water available, and decide whether to chance the restrooms (probably locked with a key attached to a giant tag, a double sign of distrust). For this delightful experience, consumers pay a price that they don’t understand or feel is justified, to a huge company of which they have at best a faint knowledge. Need mechanical help or directions? Good luck. For seven years, in a Gallup poll on the favorability of 24 different industry and government sectors, the oil and gas industry has been rated 24th. (In the 2009 poll, the runners-up for most disliked were real estate and the federal government.)"<ref>John Hofmeister May 3, 2010 </ref> Additionally, increasing environmental consciousness since the 1970s has led the public to view oil companies more negatively.<ref>Karlyn Bowman for Forbes Magazine. May 14 2010. </ref> | |||
| A dataset of gasoline prices of BP, ], ], ], and ] from ] gathered in the years 2001 to 2015 was used to show by ] the ] between these retailers.<ref>{{cite journal |last1=Byrne |first1=David P. |last2=de Roos |first2=Nicolas |title=Learning to Coordinate: A Study in Retail Gasoline |date=23 July 2018 |url=https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2570637 |access-date=25 March 2021 |publisher=Social Science Research Network |ssrn=2570637 |language=en}}</ref> | |||
| When BP took on its current name in 2000, it launched a $200M campaign around the slogan: BP: Better People, Better Products, Big Picture, Beyond Petroleum<ref name=Ries>Laura Ries for Ries Pieces. May 2010. </ref> and changed its logo from the shield to a sunburst.<ref name=Landman>Anne Landman for PR Watch. May 3, 2010 </ref> | |||
| Documents from a 2016 bid to drill in the Great Australian Bight revealed claims by BP that a large-scale cleanup operation following a massive oil spill would bring a "welcome boost to local economies."<ref name=massiveoilspill>{{cite web| url=http://www.newsweek.com/massive-oil-spill-welcome-boost-economy-says-bp-874650| title=Massive Oil Spill 'Welcome Boost' To Economy, Says BP| author=David Brennan| date=6 April 2018| publisher=]| access-date=10 April 2018}}</ref> In the same bid BP also stated that a diesel spill would be "socially acceptable" due to a lack of "unresolved stakeholder concerns".<ref name=massiveoilspill/> | |||
| BP's public image in the US was hurt by the series of industrial accidents that occurred through the 2000s, culminating with the Deepwater Horizon explosion and Gulf Oil spill. In the immediate aftermath of the spill, BP made many of the same PR errors that Exxon had made subsequent to the ''Exxon Valdez'' disaster.<ref>Ann C Mulkern for the New York Times. June 10, 2010 </ref><ref name=Wired>{{cite web|last=Van Buskirk|first=Eliot|title=BP’s Social Media Campaign Going About as Well as Capping That Well|url=http://www.wired.com/business/2010/06/bps-social-media-campaign-going-about-as-well-as-capping-that-well/|work=Wired.com|accessdate=2 April 2013}}</ref> BP was criticized for the way it deployed CEO Tony Hayward, who committing several gaffes, including stating that he "wanted his life back."<ref>Suzanne Vranica for the Wall Street Journal. December 29, 2010 </ref> BP was praised for its social media efforts, including the section of its where it communicated its efforts to clean up the spill.<ref name=Slate2010>Christopher Beam for Slate. May 5, 2010 </ref> and its use of twitter.<ref>Elizabeth Shogren for NPR. April 21, 2011 </ref> and Facebook<ref>Ian Smith for Intelegia. January 24, 2011. </ref> | |||
| An internal email from mid 2017, was leaked in April 2018 in New Zealand. The email laid out that pricing was to be raised at certain sites in a region around Otaki in order to regain volume lost at that branch.<ref>{{cite web|url=https://www.stuff.co.nz/business/103470616/behind-the-pricing-internal-email-lifts-veil-on-bps-petrol-prices|title=Behind the pricing: Internal email lifts veil on BP's petrol prices|date=30 April 2018|publisher=Stuff|access-date=24 May 2018}}</ref> This led to the Government asking the Commerce Commission to investigate regional prices: initial indications were that motorists were paying too much across most of the country.<ref>{{cite web|url=https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12260020|title=Petrol prices: Motorists pay too much at pump says Commerce Commission|date=20 August 2019|work=NZ Herald|access-date=20 August 2019}}</ref> | |||
| BP began a researching a re-branding campaign in the fall of 2010, and decided to focus its brand on the idea of "bringing brilliant minds together with technology at a massive scale to meet the world’s energy needs" and focused its messaging on telling stories about people.<ref>Todd Raphael for ere.net Oct 18, 2011 </ref> In February 2012 BP North America launched a $500M campaign to rebuild its brand.<ref>Jonathan Morris for Wall St. Cheat Sheet. Feb 3, 2012 </ref> BP's partnership with the 2012 London Olympics improved its image.<ref>Brian Steinberg for Ad Age. August 08, 2012 </ref> | |||
| == See also == | |||
| With respect to social media, BP has tasked a press office staff member to openly join discussions on the Talk page for its Misplaced Pages article, and to suggest content to be posted by other editors.<ref>Brian Merchant for Motherboard. April 2, 2013. </ref> Controversy emerged in 2013 over the amount of content from BP that had entered the article,<ref name="zdnet2013">Violet Blue, , ZDNet, March 27, 2013 (accessed March 28 2013)</ref><ref>Natasha Lennard (accessed March 28 2013)</ref> but ] noted that these actions complied with site policy regarding conflicts of interest.<ref name="zdnet2013" /> | |||
| * ] | |||
| == |
== Notes == | ||
| {{notelist}} | |||
| {{Portal|Companies|Energy}} | |||
| * ] | |||
| ==References== | == References == | ||
| {{Reflist| |
{{Reflist | ||
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| <ref name=AccidentalRelease>{{cite news|title=Gulf Spill Is the Largest of Its Kind, Scientists Say|url=https://www.nytimes.com/2010/08/03/us/03spill.html |newspaper=]|first1=Campbell |last1=Robertson |first2=Clifford |last2=Krauss |date=2 August 2010|access-date=17 November 2012}}</ref> | |||
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| <ref name=observer190300>Life: ''The Observer Magazine'' – A celebration of 500 years of British Art – 19 March 2000</ref> | |||
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| <ref name=ec140513>{{cite press release |url=http://europa.eu/rapid/press-release_MEMO-13-435_en.htm?locale=en |title=Antitrust: Commission confirms unannounced inspections in oil and biofuels sectors |publisher=] |date=14 May 2013 |access-date=15 May 2013}}</ref> | |||
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| <ref name=commons2012>{{cite web |url=https://publications.parliament.uk/pa/cm201213/cmselect/cmsctech/348/348vw39.htm |title=BP's evidence to the UK Parliament Commons Committee on Science and Technology |date=February 2012 |publisher=UK Parliament |access-date=12 June 2013}}</ref> | |||
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| <ref name="Hasterok2012">{{cite news |title=BP investigates fatal Colorado natgas blast |first=Pamela |last=Hasterok |url=https://www.reuters.com/article/us-explosion-bp-idUSBRE85P1GE20120626 |work=]|date=26 June 2012 |access-date=25 July 2012}}</ref> | |||
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| <ref name="Gosden16">{{cite news |title=BP in talks with grocery store partners to boost global forecourt sales |last1=Gosden |first1=Emily |url=https://www.telegraph.co.uk/business/2016/12/26/bp-talks-grocery-store-partners-boost-global-forecourt-sales/ |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/business/2016/12/26/bp-talks-grocery-store-partners-boost-global-forecourt-sales/ |archive-date=11 January 2022 |url-status=live |newspaper=] |date=26 December 2016 |access-date=9 August 2017|url-access=subscription}}{{cbignore}}</ref> | |||
| <ref name=bloomberg151217>{{Cite news|url=https://www.bloomberg.com/news/articles/2017-12-15/bp-agrees-to-invest-200-million-in-solar-power-developer|title=BP Re-Enters Solar Power Market With $200 Million U.K. Deal|first1=James |last1=Herron |first2=Jess |last2=Shankleman |date=15 December 2017 |work=] |access-date=19 December 2017 |url-access=subscription}}</ref> | |||
| <ref name="Hardcastle17">{{cite news |url=https://www.environmentalleader.com/2017/03/bp-buys-clean-energys-renewable-natural-gas-facilities-155/|title=BP Buys Clean Energy's Renewable Natural Gas Facilities for $155 Million |first=Jessica |last=Lyons Hardcastle |date=1 March 2017 |work=Environmental Leader |access-date=25 April 2018}}</ref> | |||
| <ref name=energyvoice300419>{{cite news |url=https://www.energyvoice.com/oilandgas/north-sea/198195/bp-reveals-1-3bn-payment-for-conoco-stake-in-clair-field/ |title=BP reveals £1.3bn payment for Conoco stake in Clair field |first=Allister |last=Thomas |date=30 April 2018 |work=Energy Voice |access-date=15 July 2019}}</ref> | |||
| <ref name=electrive200319>{{cite news |url=https://www.electrive.com/2019/03/20/uk-bp-chargemaster-open-large-rapid-charge-hub/ |title=UK: BP Chargemaster open large rapid-charge hub |first=Nora |last=Manthey |date=20 March 2019 |work=Electrive.com |access-date=15 July 2019}}</ref> | |||
| <ref name=renewablenow261218>{{cite news |url=https://renewablesnow.com/news/bp-wind-sells-430-mw-texas-portfolio-to-ares-637650/ |title=BP Wind sells 430-MW Texas portfolio to Ares |work=Renewable Now |date=26 December 2018 |access-date=15 July 2019}}</ref> | |||
| <ref name=spw201217>{{cite news |work=Solar Power World |title=BP is back in the solar game, teaming up with Lightsource |url=https://www.solarpowerworldonline.com/2017/12/bp-back-solar-game-teaming-lightsource/ |first1=Kathie |last1=Zipp |date=20 December 2017 |access-date=26 December 2017}}</ref> | |||
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| <ref name="AR18-USrefinery">], p. 31</ref> | |||
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| <ref name=reuters271010>{{Cite news|url=https://www.reuters.com/article/venezuela-oil-tnk-bp/venezuela-says-bps-asset-sale-valued-at-800-mln-idUSN2728260120101027|title=Venezuela says BP's asset sale valued at $800 mln |work=]|first1=Marianna |last1=Parraga |first2=Daniel |last2=Wallis |date=27 October 2010 |access-date=10 September 2012}}</ref> | |||
| <ref name=bloomberg181010>{{Cite news|url=https://www.bloomberg.com/news/articles/2010-10-18/tnk-bp-agrees-to-acquire-bp-assets-in-venezuela-vietnam-for-1-8-billion|title=BP Sells Venezuela, Vietnam Assets to TNK-BP for $1.8 Billion|work=] |first1=Stephen |last1=Bierman|first2=Brian |last2=Swint|date=27 October 2010|access-date=10 September 2012 |url-access=subscription}}</ref> | |||
| <ref name=bloomberg011211>{{Cite news|url=https://www.bloomberg.com/news/articles/2011-12-01/bp-sells-canada-gas-assets-to-plains-pipelines-for-1-7-billion-in-cash|title=Plains Buys $1.67 Billion BP Unit to Expand Liquids Position|work=]|first1=Mike |last1=Lee|first2=Brian |last2=Swint|date=1 December 2012|access-date=10 September 2012 |archive-url=https://web.archive.org/web/20130502040439/http://www.businessweek.com/news/2011-12-02/plains-buys-1-67-billion-bp-unit-to-expand-liquids-position.html |archive-date=2 May 2013 |url-access=subscription}}</ref> | |||
| <ref name=bpexploration>{{cite web |url=https://www.bloomberg.com/profile/company/1356087D:US |title=Company Overview of BP Exploration & Production Inc. |work=] |access-date=3 November 2012}}</ref> | |||
| <ref name=bpcorporation>{{cite web |url=https://www.bloomberg.com/profile/company/2500Q:US |title=Company Overview of BP Corporation North America, Inc. |work=] |access-date=3 November 2012}}</ref> | |||
| <ref name=bpproduct>{{cite web |url=https://www.bloomberg.com/profile/company/15877Z:US |title=Company Overview of BP Products North America, Inc. |work=] |access-date=3 November 2012}}</ref> | |||
| <ref name=bpproduction>{{cite web |url=https://www.bloomberg.com/profile/company/75395Z:US |title=Company Overview of BP America Production Company |work=] |access-date=3 November 2012}}</ref> | |||
| <ref name=bpenergy>{{cite web |url=https://www.bloomberg.com/profile/company/0179460D:US |title=Company Overview of BP Energy Company |work=] |access-date=3 November 2012}}</ref> | |||
| <ref name="Suhana2011">{{cite news |title=BP Plans To Invest $10 Billion in Indonesia in Next 10 Years |first1=Agus |last1=Suhana |first2=Yoga |last2=Rusmana |url=https://www.bloomberg.com/news/articles/2011-05-27/bp-plans-to-invest-10-billion-in-indonesia-over-next-10-years |work=] |date=27 May 2011 |access-date=21 June 2012|url-access=subscription}}</ref> | |||
| <ref name=Reuters2009>{{cite news |title=Vitol Sells Diesel; BP Plans Rotterdam Unit Halt: Oil Products |author=Lananh Nguyen |url=https://www.bloomberg.com/news/articles/2012-09-18/vitol-sells-diesel-bp-plans-rotterdam-unit-halt-oil-products |work=] |date=18 September 2012 |access-date=1 October 2012|url-access=subscription}}</ref> | |||
| <ref name="Schiller-2012">{{cite news|last=Schiller |first=Meghan |title=BP eyes wind, biofuels in alternative energy |url=http://www.marketwatch.com/story/bp-eyes-wind-biofuels-in-alternative-energy-2012-07-10|access-date=27 April 2013 |work=]|date=11 July 2012}}</ref> | |||
| <ref name="Wells2012">{{cite news |title=Big Oil's Big in Biofuels |first=Ken |last=Wells |url=https://www.bloomberg.com/news/articles/2012-05-10/big-oils-big-in-biofuels|work=] |date=10 May 2012 |access-date=24 September 2012|url-access=subscription}}</ref> | |||
| <ref name="sieber151217">{{cite news |title=Is BP looking Beyond Petroleum again? |first=Tom |last=Sieber |url=https://www.sharesmagazine.co.uk/news/shares/is-bp-looking-beyond-petroleum-again |work=Shares |date=15 December 2017 |access-date=14 October 2020}}</ref> | |||
| <ref name="Herndon2011">{{cite news |title=Chromatin Raises $10 Million as BP and Unilever Become Investors |first=Andrew |last=Herndon |url=https://www.bloomberg.com/news/2011-10-25/chromatin-raises-10-million-as-bp-and-unilever-become-investors.html |work=] |date=25 October 2011 |access-date=4 October 2012|url-access=subscription}}</ref> | |||
| <ref name=bloomberg240518>{{cite news |title=BP Makes First Foray into Israel With Battery Startup Deal |url=https://www.bloomberg.com/news/articles/2018-05-24/bp-stakes-20-million-in-fast-charging-battery-startup-storedot |first1=Michael |last1=Arnold |first2=Yaacov |last2=Benmeleh |date=24 May 2018 |work=] |access-date=27 May 2018|url-access=subscription}}</ref> | |||
| <ref name="LAT-Emissions">{{cite news |title=All eyes on Exxon and Chevron after BP pledges to go carbon neutral |work=] |via=Los Angeles Times |url=https://www.latimes.com/business/story/2020-02-12/attention-on-exxon-chevron-after-bp-pledges-carbon-neutral |last1=Crowley |first1=Kevin |date=12 February 2020 |access-date=14 February 2020}}</ref> | |||
| <ref name=sky260220>{{cite news |title=BP quits US lobby groups over climate change differences |url=https://news.sky.com/story/bp-quits-us-lobby-groups-over-climate-change-differences-11943707 |first1=John-Paul |last1=Ford Rojas |date=26 February 2020 |work=] |access-date=26 February 2020}}</ref> | |||
| <ref name=bloomberg260220>{{cite news |title=BP Quits Three Oil Lobby Groups on Differing Climate Policyl |url=https://www.bloomberg.com/news/articles/2020-02-26/bp-quits-three-u-s-oil-lobby-groups-on-differing-climate-policy |first1=James |last1=Herron |first2=Laura |last2=Hurst |date=26 February 2020 |work=] |access-date=26 February 2020 |url-access=subscription}}</ref> | |||
| <ref name="Bloomberg-Texas City refinery sale">{{cite news|last1=Olson|first1=Bradley|title=BP Sells Texas Refinery to Marathon for $598 Million|url=https://www.bloomberg.com/news/articles/2012-10-08/marathon-petroleum-to-pay-598-million-for-bp-s-texas-plant-1-|work=] |date=8 October 2012 |access-date=6 March 2020 |url-access=subscription}}</ref> | |||
| <ref name=bloomberg070313>{{cite news|url=https://www.bloomberg.com/news/2013-03-07/bp-ceo-dudley-denied-2012-share-bonus-on-8-stock-price-drop.html |title=BP CEO Dudley Denied 2012 Share Bonus on 8% Stock Price Drop|first=Brian |last=Swint |date=7 March 2013 |work=] |access-date=6 March 2020 |url-access=subscription}}</ref> | |||
| <ref name="Bloomberg-sept-5-14">{{cite news|last1=Fisk |first1=Margaret Cronin |last2=Calkins |first2=Lauren Brubaker |last3=Feeley |first3=Jef |title='Worst Case' BP Ruling on Gulf Spill Means Billions More in Penalties |url=https://www.bloomberg.com/news/2014-09-04/bp-found-grossly-negligent-in-2010-gulf-of-mexico-spill.html |access-date=5 September 2014 |work=]|date=4 September 2014 |url-access=subscription}}</ref> | |||
| <ref name="Times - barbier - 18 billion">{{cite news|last1=Robertson|first1=Campbell|last2=Krauss|first2=Clifford|title=BP May Be Fined Up to $18 Billion for Spill in Gulf|url=https://www.nytimes.com/2014/09/05/business/bp-negligent-in-2010-oil-spill-us-judge-rules.html |access-date=6 September 2014|newspaper=]|date=4 September 2014}}</ref> | |||
| <ref name="Bloomberg071215">{{cite news |last1=White |first1=Aoife |last2=Bodoni|first2=Stephanie |last3=Levring|first3=Peter |last4=Sebag|first4=Gaspard |url=https://www.bloomberg.com/news/articles/2015-12-07/oil-firms-dropped-from-eu-probe-into-fuel-price-manipulation-ihw0n00j |title=Big Oil Let Off Hook Days After EU Drops Wall Street Probe|access-date=18 December 2015|date=7 December 2015|work=]|url-access=subscription}}</ref> | |||
| <ref name=reuters100920>{{cite news |title=BP enters offshore wind with $1.1 billion Equinor deal |url=https://uk.reuters.com/article/us-equinor-bp/bp-enters-offshore-wind-with-1-1-billion-equinor-deal-idUKKBN2610OT |archive-url=https://web.archive.org/web/20200910135928/https://uk.reuters.com/article/us-equinor-bp/bp-enters-offshore-wind-with-1-1-billion-equinor-deal-idUKKBN2610OT |url-status=dead |archive-date=10 September 2020 |work=]|date=10 September 2020 |access-date=15 October 2020 |first1=Nerijus |last1=Adomaitis |first2=Ron |last2=Bousso}}</ref> | |||
| <ref name=reuters270819>{{cite news |title=BP to quit Alaska after 60 years with $5.6 billion sale to Hilcorp |url=https://www.reuters.com/article/us-bp-divestiture-idUSKCN1VH21N/ |work=]|date=27 August 2019 |access-date=15 October 2020 |first1=Ron |last1=Bousso |first2=Tanishaa |last2=Nadkar}}</ref> | |||
| <ref name=adn300620>{{cite news |title=In initial step, Alaska approves chunk of BP's $5.6 billion deal with Hilcorp |url=https://www.adn.com/business-economy/energy/2020/06/30/in-initial-step-alaska-approves-chunk-of-bps-56b-deal-with-hilcorp/ |newspaper=] |date=30 June 2020 |access-date=15 October 2020 |first1=Alex |last1=DeMarban}}</ref> | |||
| <ref name=icis141020>{{cite news |title=Total, BP lead charge in green strategic shift among global oil majors |url=https://www.icis.com/explore/resources/news/2020/10/14/10563387/insight-total-bp-lead-charge-in-green-strategic-shift-among-global-oil-majors|work=ICIS |date=14 October 2020 |access-date=15 October 2020 |first1=Joseph |last1=Chang}}</ref> | |||
| <ref name="Brierley">{{cite news |title=BP strikes it rich in America |first=David |last=Brierley |url=https://www.independent.co.uk/news/business/bp-strikes-it-rich-in-america-1084972.html |work=] |date=4 April 1999 |access-date=28 August 2012}}</ref> | |||
| <ref name="BBCNews2000">{{cite news |title=Green light for BP–Arco merger |url=http://news.bbc.co.uk/2/hi/business/712962.stm |work=] |date=14 April 2000 |access-date=28 August 2012}}</ref> | |||
| <ref name=ogj070201>{{Cite news |url=https://www.ogj.com/pipelines-transportation/article/17264076/olympic-to-restart-washington-state-line |title=Olympic to restart Washington state line |work=] |date=7 February 2001 |access-date=25 October 2020}}</ref> | |||
| <ref name=ap280901>{{Cite news |url=https://products.kitsapsun.com/archive/2001/09-28/0021_olympic_pipe_line_pleads_innocent.html |title=Olympic Pipe Line pleads innocent to charges from explosion |agency=] |newspaper=] |date=28 September 2001 |access-date=25 October 2020}}</ref> | |||
| <ref name=guardian120220>{{cite news |last1=Watts |first1=Jonathan |title=BP's statement on reaching net zero by 2050 – what it says and what it means |url=https://www.theguardian.com/environment/ng-interactive/2020/feb/12/bp-statement-on-reaching-net-zero-carbon-emissions-by-2050-what-it-says-and-what-it-means |access-date=25 October 2020 |newspaper=] |date=12 February 2020}}</ref> | |||
| <ref name=huffpost280920>{{Cite news |url=https://www.huffingtonpost.co.uk/entry/bp-shell-climate_n_5f6e3120c5b64deddeed6762 |title=Revealed: BP And Shell Back Anti-Climate Lobby Groups Despite Pledges |first1=Zach |last1=Boren |first2=Alexander C. |last2=Kaufman |first3=Lawrence |last3=Carter |newspaper=] |date=28 September 2020 |access-date=25 October 2020}}</ref> | |||
| <ref name=guardian100717>{{cite news |url=https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change |title=Top 100 producers and their cumulative greenhouse gas emissions from 1988-2015 |first=Tess |last=Riley |newspaper=] |date=10 July 2017 |access-date=29 October 2020 |url-access=subscription}}</ref> | |||
| <ref name=denver040220>{{cite news |url=https://www.bizjournals.com/denver/news/2020/02/04/bpx-energy-earnings.html |title=BPX Energy on track to hit $1 billion in cash for energy giant BP |first=Greg |last=Avery |newspaper=] |date=4 February 2020 |access-date=9 November 2020}}</ref> | |||
| <ref name=biz030513>{{cite news |url=https://www.bizjournals.com/houston/morning_call/2013/05/bp-to-pay-18m-for-early-restoration.html |title=BP to pay $18M for early restoration projects in Texas |work=] |first=Olivia |last=Pulsinelli |date=3 May 2013 |access-date=13 May 2013 |url-access=subscription}}</ref> | |||
| <ref name="ReutersJan2010">{{cite news |title=Factbox: Money flows again in Canada's oil sands industry |url=https://www.reuters.com/article/us-oilsands-factbox-idUKTRE60P5VA20100126 |first=Jeffrey |last=Jones |work=]|date=20 January 2010 |access-date= 9 November 2020}}</ref> | |||
| <ref name="reuters240620">{{cite news |title=BP's stranded Canadian, Angolan assets expose wider industry risks |url=https://www.reuters.com/article/us-bp-strandedassets-analysis-idUSKBN23V1ZY |work=]|date=24 June 2020 |access-date=9 November 2020 |first1=Ron |last1=Bousso |first2=Shadia |last2=Nasralla}}</ref> | |||
| <ref name="guardian061207">{{cite news |title=BP to pump billions into oil sands despite green worries and high costs |url=https://www.theguardian.com/business/2007/dec/06/bp.oil |newspaper=] |date=6 December 2007 |access-date=9 November 2020 |first1=Mark |last1=Milner |url-access=subscription}}</ref> | |||
| <ref name="guardian071207">{{cite news |title=Greenpeace calls BP's oil sands plan an environmental crime |url=https://www.theguardian.com/business/2007/dec/07/bp |newspaper=] |date=7 December 2007 |access-date=9 November 2020 |first1=Terry |last1=Macallister |url-access=subscription}}</ref> | |||
| <ref name="guardian150410">{{cite news |title=BP pledges not to use open-pit mining at Canadian oil sands sites |url=https://www.theguardian.com/business/2010/apr/15/bp-oil-sands-open-pit-mining |newspaper=] |date=15 April 2015 |access-date=9 November 2020 |first1=John |last1=Stevens |first2=Tim |last2=Webb}}</ref> | |||
| <ref name="Macalister2009">{{cite news |title=Cree aboriginal group to join London climate camp protest over tar sands |first=Terry |last=Macalister |url=https://www.theguardian.com/business/2009/aug/23/london-tar-sands-climate-protest |newspaper=] |date=23 August 2009 |access-date=25 September 2012}}</ref> | |||
| <ref name=wsj150410>{{cite news|last=Herron |first=James |url=https://blogs.wsj.com/source/2010/04/15/bp-defeats-oil-sands-critics-but-controversy-wont-die/ |title=BP Defeats Oil Sands Critics, But Controversy Won't Die |newspaper=] |date=15 April 2010 |access-date=26 April 2013 |url-access=subscription}}</ref> | |||
| <ref name="guardian100413">{{cite news |title=BP faces pay row at AGM |url=https://www.theguardian.com/business/2013/apr/10/bp-agm-pay-row |newspaper=] |date=10 April 2013 |access-date=9 November 2020 |first1=Terry |last1=Macallister}}</ref> | |||
| <ref name=hbj181220>{{cite news|last= Pulsinelli |first=Olivia |url=https://www.bizjournals.com/houston/news/2020/12/18/bp-harvest-midstream-complete-alaska-deal.html |title=BP completes Alaska midstream sale to Harvest as part of $5.6B deal |newspaper= ] |date= 18 December 2020 |access-date=26 December 2020 |url-access=subscription}}</ref> | |||
| <ref name=rigzone231220>{{cite news|last= Veazey |first= Matthew V. |url=https://www.rigzone.com/news/bp_divests_stake_in_alaska_pipeline-23-dec-2020-164181-article/ |title=BP Divests Stake in Alaska Pipeline | work= Rigzone |date= 23 December 2020 |access-date=26 December 2020}}</ref> | |||
| <ref name=greenpeace211010>{{cite web|url=https://www.greenpeace.org/usa/recapping-on-bps-long-history-of-greenwashing/ |title=Recapping on BP's long history of greenwashing | first = Haley | last = Walker |publisher=Greenpeace |date=21 May 2010 |access-date=13 April 2014}}</ref> | |||
| <ref name=motherjones040510>{{cite web|url=https://www.motherjones.com/mojo/2010/05/bp-coated-sludge-after-years-greenwashing|first=James |last= Ridgeway|title=BP's Slick Greenwashing|work=Mother Jones | date= 4 May 2010|access-date=15 March 2015}}</ref> | |||
| <ref name=accuracy210812>{{cite web|url=http://www.accuracy.org/release/record-gas-costs-and-price-manipulation/|title=Big Oil and Energy Traders Manipulating Consumers|work=] | date = 21 August 2012|access-date=15 March 2015}}</ref> | |||
| <ref name=guardian201108>{{cite news| url=https://www.theguardian.com/environment/2008/nov/20/fossilfuels-energy | newspaper= ] | first=Fred | last=Pearce | title=Greenwash: BP and the myth of a world 'Beyond Petroleum' | date=20 November 2008 | access-date=26 December 2020}}</ref> | |||
| <ref name=reuters210518>{{cite news | url= https://uk.reuters.com/article/us-bp-ceo-exclusive/exclusive-bp-back-on-its-feet-but-ceo-senses-no-respite-idUKKCN1IM0E8 | archive-url= https://web.archive.org/web/20180521061933/https://uk.reuters.com/article/us-bp-ceo-exclusive/exclusive-bp-back-on-its-feet-but-ceo-senses-no-respite-idUKKCN1IM0E8 | url-status= dead | archive-date= 21 May 2018 | title= Exclusive: BP back on its feet but CEO senses no respite | first1 = Ron | last1 = Bousso | first2 = Dmitry | last2 = Zhdannikov | date = 21 May 2018| work= ] | access-date= 27 May 2018}}</ref> | |||
| <ref name=reuters140911>{{cite news |title= BP expands Brazil ethanol operations |url= https://www.reuters.com/article/bp-ethanol-brazil-idUSS1E78D0BP20110914 |work=]|date=14 September 2011 |access-date= 27 April 2013}}</ref> | |||
| <ref name=delaware280815>{{cite news | newspaper= Delaware online | title = DuPont bets on billion-dollar ethanol industry | url= http://www.delawareonline.com/story/news/local/2015/08/28/dupont-bets-billion-dollar-ethanol-industry/71341328/ | first1 = Karl | last1 = Baker | date = 28 August 2015 | access-date = 16 September 2017}}</ref> | |||
| <ref name=biomass030417>{{cite news | newspaper= Biomass Magazine | title = BP, DuPont bio-isobutanol JV purchases Kansas ethanol plant | url= http://biomassmagazine.com/articles/14291/bp-dupont-bio-isobutanol-jv-purchases-kansas-ethanol-plant | date = 3 April 2017 | access-date = 16 September 2017}}</ref> | |||
| <ref name=energyvoice230120>{{cite web|url=https://www.energyvoice.com/renewables-energy-transition/219707/bps-unicorn-seeker-not-afraid-to-back-the-occasional-wrong-horse/|title=BP's unicorn seeker not afraid to back the occasional wrong horse|work=Energy Voice|first=Mark |last= Lammey|date=23 January 2020|access-date=26 December 2020}}</ref> | |||
| <ref name=aviationpross210817>{{cite press release | publisher= Air BP | title = Air BP Announces Third Biojet-Supplied Location at Bergen Airport | url= http://www.aviationpros.com/press_release/12361359/air-bp-announces-third-biojet-supplied-location-at-bergen-airport | date = 21 August 2017 | access-date = 17 September 2017}}</ref> | |||
| <ref name=reuters151217>{{cite news | work=] | title = BP returns to solar with investment in Lightsource | url= https://uk.reuters.com/article/uk-lightsource-bp-stake/bp-returns-to-solar-with-investment-in-lightsource-idUKKBN1E90GW | archive-url= https://web.archive.org/web/20171215135056/https://uk.reuters.com/article/uk-lightsource-bp-stake/bp-returns-to-solar-with-investment-in-lightsource-idUKKBN1E90GW | url-status= dead | archive-date= 15 December 2017 | first1 = Ron | last1 = Bousso | first2 = Susanna | last2 = Twidale | date = 15 December 2017 | access-date = 15 February 2019}}</ref> | |||
| <ref name=ft101120>{{cite news| url=https://www.ft.com/content/c808b72f-8e51-448d-927e-405fbbe2eb9 | newspaper=] | first= Anjli | last=Raval | title=BP and Orsted plan green hydrogen project | date=10 November 2020 | access-date= 26 December 2020}}</ref> | |||
| <ref name=reuters161220>{{Cite news|title=BP takes majority stake in U.S. carbon offset firm Finite Carbon|url=https://www.reuters.com/article/us-bp-carbonoffset-usa/bp-takes-majority-stake-in-u-s-carbon-offset-firm-finite-carbon-idUSKBN28Q10C|work=]|date=16 December 2020 |access-date=26 December 2020}}</ref> | |||
| <ref name="Forbes2012">{{cite news |url=https://www.forbes.com/companies/bp/ |title=BP |work=]|access-date=18 June 2012}}</ref> | |||
| <ref name="CNNMoney2011">{{cite news |title=BP PLC Company Description |url=https://money.cnn.com/quote/profile/profile.html?symb=BP |publisher=]|date=1 April 2011 |access-date=7 June 2012}}</ref> | |||
| <ref name=cnn040820>{{cite news | url = https://edition.cnn.com/2020/08/04/business/bp-oil-clean-energy/index.html |title=BP will slash oil production by 40% and pour billions into green energy | first= Hanna | last = Ziady |work=]| date= 4 August 2020 |access-date=26 December 2020}}</ref> | |||
| }} | }} | ||
| == Bibliography == | |||
| ==Further reading== | |||
| {{Anchor|Books|Bibliography}} | {{Anchor|Books|Bibliography}} | ||
| <!-- last updated January 2022 --> | |||
| {{Refbegin}} | |||
| * {{Cite book| last=Ferrier | first=R.W. | title=The History of the British Petroleum Company: The Developing Years 1901–1932 | volume=vol. I| location=Cambridge | publisher=Cambridge University Press | year=1982 | isbn=9780521246477|url=http://www.amazon.com/History-British-Petroleum-Company-Vol/dp/0521246474 |ref=RefFerrier1982}} | |||
| ===Commissioned works=== | |||
| * {{Cite book| last=Bamberg| first=James H | title=The History of the British Petroleum Company: The Anglo-Iranian Years, 1928–1954 | volume=vol. II| location=Cambridge | publisher=Cambridge University Press | year=1994| isbn=9780521259507| url=http://www.amazon.com/History-British-Petroleum-Company-Vol/dp/0521259509|ref=RefJames1994}} | |||
| {{refbegin}} | |||
| * {{Cite book| last=Bamberg| first=James H | title=The History of the British Petroleum Company: British Petroleum and Global Oil, 1950–1975: The Challenge of Nationalism | volume=vol. III| location=Cambridge | publisher=Cambridge University Press | year=2000| isbn=9780521785150 |url=http://www.amazon.com/British-Petroleum-Global-Oil-1950-1975/dp/0521785154 |ref=RefJames2000}} | |||
| (In chronological order) | |||
| * {{Cite book| last=Meyer | first=Karl E | coauthors=Brysac, Shareen | title=Kingmakers: The Invention of the Modern Middle East | location=New York | publisher=W.W. Norton | year=2008 | isbn=9780393061994 |url=http://books.google.com/books?id=hcZrEHg4sdsC&printsec=frontcover|ref=RefKarl2008}} | |||
| * {{Cite book| last= |
* {{Cite book| last=Ferrier | first=R.W. | title=The History of the British Petroleum Company: The Developing Years 1901–1932 | volume=I| location=Cambridge | publisher=] | year=1982 | isbn=9780521246477|url= https://books.google.com/books?id=aNBQnow_wbYC |ref=RefFerrier1982}} | ||
| * {{ |
* {{Cite book| last=Bamberg| first=James H | title=The History of the British Petroleum Company: The Anglo-Iranian Years, 1928–1954 | volume=II| location=Cambridge | publisher=Cambridge University Press | year=1994| isbn=9780521259507| url= https://books.google.com/books?id=PduotC73nh0C |ref=RefJames1994}} | ||
| * {{Cite book|last= |
* {{Cite book| last=Bamberg| first=James H | title=The History of the British Petroleum Company: British Petroleum and Global Oil, 1950–1975: The Challenge of Nationalism | volume=III| location=Cambridge | publisher=Cambridge University Press | year=2000| isbn=9780521785150 |url=https://books.google.com/books?id=LVC0VlPOJxEC |ref=RefJames2000}} | ||
| * {{cite book |title= Annual Report and Form 20-F 2018 |author=BP |url=https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2018.pdf |ref=AR18}} | |||
| * {{Cite book|last=Vassiliou |first=M. S. |title=Historical Dictionary of the Petroleum Industry : Volume 3|year=2009|publisher=Scarecrow Press |page=662 |url=http://books.google.com/books?id=vArc08DO9ykC&pg=PA269&lpg=PA269#v=onepage&q&f=false |isbn=9780810859937|ref=RefVassiliou2009}} | |||
| * {{cite book |title= Annual Report and Form 20-F 2023 |author=BP |url=https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2023.pdf |ref=AR23}} | |||
| * {{Cite book|last=Lauterpacht |first=E. |title=International Law Reports|year=1973|publisher=Cambridge University Press |page=560 |url=http://books.google.com/books?id=ZIWcxX5jB5MC&pg=PA375&lpg=PA375|isbn=9780521463911|ref=RefLauterpacht1973}} | |||
| {{refend}} | |||
| * {{Cite book|title=Strategies, Markets and Governance: Exploring Commercial and Regulatory Agendas|year=2008|publisher=Cambridge University Press |page=360 |url=http://books.google.com/books?id=QBLZfywCoJMC&pg=PA235&lpg=PA235 | |||
| ===Other works=== | |||
| {{refbegin}} | |||
| * {{cite book | title = Sedimentary basins and petroleum geology of the Middle East | last1 = Alsharhan | first1 = A. S. | last2 = Nairn | first2 = A. E. M. | publisher= ] | year = 1997 | edition = 2 | url = https://books.google.com/books?id=0Ug0GdmopWMC&pg=PA471 | isbn = 978-0-444-82465-3 |ref=alsharhan}} | |||
| * {{cite book | title = Working for Oil: Comparative Social Histories of Labor in the Global Oil Industry | editor1-last= Atabaki | editor1-first= Touraj | editor2-last= Bini | editor2-first= Elisabetta | editor3-last= Ehsani | editor3-first= Kaveh | publisher= ] | year = 2018 | url = https://books.google.com/books?id=ZbZIDwAAQBAJ&pg=PA196 | isbn = 9783319564456 |ref=Atabaki}} | |||
| * {{cite book |last1=Bailey |first1=Martin |title=Shell and BP in South Africa. |date=1978 |publisher=Haslemere Group/Anti-Apartheid |location=Birmingham |isbn=0905094026 |edition=2nd |url={{GBurl|VQAvAQAAIAAJ}}}} | |||
| * {{Cite book|title=The Cambridge History of Iran, Volume 7|year=1991|publisher=Cambridge University Press |page=1096 |url=https://books.google.com/books?id=H20Xt157iYUC&pg=PA665 |first1 = W. William | last1 =Bayne Fisher| first2 = P. | last2 = Avery | first3 = G. R. G. | last3 = Hambly | first4 = C. | last4 = Melville |ref=RefWilliam1991|isbn=9780521200950}} | |||
| * {{cite book | first1= Nicholas |last1= Beale | title= Constructive Engagement: Directors and Investors in Action |url= https://books.google.com/books?id=aoV22XMeZswC&pg=PA52 | year=2012 | publisher= ] | isbn = 9781409457824 |ref=RefBeale}} | |||
| * {{cite book |last1=Black |first1=Edwin |title=British Petroleum and the Redline Agreement The West's Secret Pact to Get Mideast Oil |date=2011 |publisher=Dialog Press |location=Washington, DC |isbn=9780914153153 |url={{GBurl|PKt8RAAACAAJ}}}} | |||
| * {{Cite book|title=Strategies, Markets and Governance: Exploring Commercial and Regulatory Agendas|year=2008 |publisher=Cambridge University Press |page=360 |url=https://books.google.com/books?id=QBLZfywCoJMC&pg=PA235 |first= Ralf | last = Boscheck | |||
| |isbn=9780521868457|ref=RefChristine2008}} | |isbn=9780521868457|ref=RefChristine2008}} | ||
| * {{ |
* {{cite book | title = Chronological History of U.S. Foreign Relations: 1932–1988 | last = Brune | first = Lester H. | editor-last = Burns | editor-first = Richard Dean | publisher= ] | year = 2003 | edition = 2 |url = https://books.google.com/books?id=nSe0gs-YaTkC&pg=PA499 | isbn = 978-0-415-93916-4 |ref=brune}} | ||
| * {{Cite book| last=Kinzer | first=Stephen| title=All the Shah's Men: An American Coup and the Roots of Middle East Terror| publisher=Wiley | year=2003 | isbn=9780471265177 |page=272|url=https://books.google.com/books?id=Wv4B6C-wTG8C|ref=RefStephen2003}} | |||
| {{Refend}} | |||
| * {{Cite book|last=Lauterpacht |first=E. |title=International Law Reports|year=1973|publisher=Cambridge University Press |page=560 |url=https://books.google.com/books?id=ZIWcxX5jB5MC&pg=PA375|isbn=9780521463911|ref=RefLauterpacht1973}} | |||
| * {{cite book|last= Louis|first=Wm. Roger|title=Ends of British Imperialism: The Scramble for Empire, Suez, and Decolonization|year=2007|publisher=I.B.Tauris|isbn=9781845113476|page=1082|url=https://books.google.com/books?id=NQnpQNKeKKAC&pg=PA775|ref=RefRoger2007}} | |||
| * {{cite book | first1= William Hutton |last1= Marwick | title= Scotland in Modern Times: An Outline of Economic and Social Development Since the Union Of 1707 | url= https://archive.org/details/scotlandinmodern0000marw | url-access= registration | year=1964 | publisher= Frank Cass and Company Limited | page= | isbn = 9780714613420 |ref=RefMarwick}} | |||
| * {{Cite book| last=Meyer | first=Karl E |author2=Brysac, Shareen | title=Kingmakers: The Invention of the Modern Middle East | location=New York | publisher=] | year=2008 | isbn=9780393061994 |url=https://archive.org/details/kingmakersinvent0000meye| url-access=registration |ref=RefKarl2008}} | |||
| * {{cite book |last1=Ritchie |first1=Berry |title=Portrait in Oil: An Illustrated History of BP |date=1995 |publisher=James & James |location=London |isbn=090738367X |url={{GBurl|_GaiQHkad-8C}}}} | |||
| * {{cite book|last=Safina|first=Carl|title=A Sea in Flames:The Deepwater Horizon Oil Blowout|year=2011|publisher=Crown Publishers|isbn=9780307887351|url=https://archive.org/details/seainflamesdeepw0000safi}} | |||
| * {{cite book |last1=Sampson |first1=Anthony |author1-link=Anthony Sampson |title=The Seven Sisters: The Great Oil Companies And The World They Shaped |date=1975 |publisher=Viking Press |location=New York |isbn=067063591X |url={{GBurl|hqu0AAAAIAAJ}}}} ({{cite book |title=The Seven Sisters: The 100-year battle for the world's oil supply |author1=Also 4th, revised, edition |date=1991 |publisher=Bantam Books |location=New York |isbn=0553242377}}) | |||
| * {{Cite book|last=Sztucki |first=Jerzy |title=Interim measures in the Hague Court |publisher=Brill Archive |year=1984 |url=https://books.google.com/books?id=3yDlnBv6Y8cC&pg=PA43 |isbn=9789065440938|ref=RefJerzy1984}} | |||
| * {{Cite book|last=Vassiliou |first=M. S. | author-link = Marius Vassiliou |title=Historical Dictionary of the Petroleum Industry : Volume 3|year=2009|publisher=Scarecrow Press |page=662 |url=https://books.google.com/books?id=vArc08DO9ykC&pg=PA269 |isbn=9780810859937|ref=RefVassiliou2009}} | |||
| * {{cite book |last1=Yergin |first1=Daniel |author1-link=Daniel Yergin |title=] |date=1991 |publisher=Simon & Schuster |location=New York |isbn=0671502484}} | |||
| * {{cite book |last1=Yergin |first1=Daniel |author1-link=Daniel Yergin |title=] |date=2011 |publisher=Penguin Press |location=New York |isbn=9781594202834 |author-mask1=7}} | |||
| {{refend}} | |||
| ==External links== | == External links == | ||
| {{Commons category|BP}} | {{Commons category|BP}} | ||
| * {{Official website}} | |||
| * {{Finance links | |||
| ===Official=== | |||
| | name = BP plc | |||
| * {{Official website|http://www.bp.com/}} | |||
| | symbol = BP | |||
| * | |||
| | sec_cik = 313807 | |||
| | yahoo = BP | |||
| ===Other=== | |||
| | google = BP | |||
| *{{OpenCorp|bp|BP}} | |||
| | bloomberg = BP:US | |||
| | hoovers = bp_plc.330879ba457530a3 | |||
| }} | |||
| * {{OpenCorp|bp|BP}} | |||
| {{BP}} | {{BP}} | ||
| {{Navboxes|list1= | |||
| {{FTSE 100 Index constituents}} | {{FTSE 100 Index constituents}} | ||
| {{Energy in the United Kingdom|companies}} | {{Energy in the United Kingdom|companies}} | ||
| {{Petroleum industry}} | {{Petroleum industry |companies}} | ||
| {{Deepwater}} | {{Deepwater}} | ||
| {{Authority control}} | |||
| }} | |||
| {{Use British English|date=November 2012}} | |||
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Latest revision as of 09:08, 17 December 2024
British multinational oil and gas company This article is about the energy company. For other uses, see BP (disambiguation).
 | |
 Headquarters at 1 St James's Square in Westminster, London | |
| Formerly |
|
|---|---|
| Company type | Public |
| Traded as | |
| ISIN | GB0007980591 |
| Industry | Oil and gas |
| Predecessors |
|
| Founded | 14 April 1909; 115 years ago (1909-04-14) (as the Anglo-Persian Oil Company) |
| Founders | |
| Headquarters | London, England, UK |
| Area served | Worldwide |
| Key people | |
| Products | |
| Production output |  2.3 Mbbl/d (370×10 |
| Brands | |
| Services | Service stations |
| Revenue |  US$210.13 billion (2023) |
| Operating income | US$27.35 billion (2023) |
| Net income | US$15.88 billion (2023) |
| Total assets |  US$280.29 billion (2023) |
| Total equity | US$85.49 billion (2023) |
| Number of employees | 87,800 (2023) |
| Website | bp |
BP p.l.c. (formerly The British Petroleum Company p.l.c. and BP Amoco p.l.c.; stylised in all lowercase) is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas "supermajors" and one of the world's largest companies measured by revenues and profits. It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and extraction, refining, distribution and marketing, power generation, and trading.
BP's origins date back to the founding of the Anglo-Persian Oil Company in 1909, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954, adopted the name British Petroleum. BP acquired majority control of Standard Oil of Ohio in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. BP merged with Amoco in 1998, becoming BP Amoco p.l.c., and acquired ARCO, Burmah Castrol and Aral AG shortly thereafter. The company's name was shortened to BP p.l.c. in 2001.
As of 2018, BP had operations in nearly 80 countries, produced around 3.7 million barrels per day (590,000 m/d) of oil equivalent, and had total proven reserves of 19.945 billion barrels (3.1710×10 m) of oil equivalent. The company has around 18,700 service stations worldwide, which it operates under the BP brand (worldwide) and under the Amoco brand (in the U.S.) and the Aral brand (in Germany). Its largest division is BP America in the United States. BP is the fourth-largest investor-owned oil company in the world by 2021 revenues (after ExxonMobil, Shell, and TotalEnergies). BP had a market capitalisation of US$98.36 billion as of 2022, placing it 122nd in the world, and its Fortune Global 500 rank was 35th in 2022 with revenues of US$164.2 billion. The company's primary stock listing in on the London Stock Exchange, where it is a member of the FTSE 100 Index.
From 1988 to 2015, BP was responsible for 1.53% of global industrial greenhouse gas emissions and has been directly involved in several major environmental and safety incidents. Among them were the 2005 Texas City refinery explosion, which caused the death of 15 workers and which resulted in a record-setting OSHA fine; Britain's largest oil spill, the wreck of Torrey Canyon in 1967; and the 2006 Prudhoe Bay oil spill, the largest oil spill on Alaska's North Slope, which resulted in a US$25 million civil penalty, the largest per-barrel penalty at that time for an oil spill. BP's worst environmental catastrophe was the 2010 Deepwater Horizon oil spill, the largest accidental release of oil into marine waters in history, which leaked about 4.9 million barrels (210 million US gal; 780,000 m) of oil, causing severe environmental, human health, and economic consequences and serious legal and public relations repercussions for BP, costing more than $4.5 billion in fines and penalties, and an additional $18.7 billion in Clean Water Act-related penalties and other claims, the largest criminal resolution in US history. Altogether, the oil spill cost the company more than $65 billion.
History
1909 to 1954
Further information: Anglo-Iranian Oil Company and Iraq Petroleum Company
In May 1908, a group of British geologists discovered a large amount of oil at Masjed Soleyman located in the Khuzestan Province in the southwest of Persia (Iran). It was the first commercially significant find of oil in the Middle East. William Knox D'Arcy, by contract with Ali-Qoli Khan Bakhtiari, obtained permission to explore for oil for the first time in the Middle East, an event which changed the history of the entire region. The oil discovery led to petrochemical industry development and also the establishment of industries that strongly depended on oil. On 14 April 1909, the Anglo-Persian Oil Company (APOC) was incorporated as a subsidiary of Burmah Oil Company. Some of the shares were sold to the public. The first chairman and minority shareholder of the company became Lord Strathcona.
Immediately after establishing the company, the British government asked Percy Cox, British resident to Bushehr, to negotiate an agreement with Sheikh Khaz'al Ibn Jabir of Arabistan for APOC to obtain a site on Abadan Island for a refinery, depot, storage tanks, and other operations. The refinery was built and began operating in 1912. In 1914, the British government acquired a controlling interest (50.0025%) in the company, at the urging of Winston Churchill, the then First Lord of the Admiralty, and the British navy quickly switched from coal to oil for the majority of their war ships. APOC also signed a 30-year contract with the British Admiralty for supplying oil for the Royal Navy at the fixed price. 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 Europäische Petroleum Union in Britain. In 1919, the company became a shale-oil producer by establishing a subsidiary named Scottish Oils which merged remaining Scottish oil-shale industries.
After World War I, APOC started marketing its products in Continental Europe and acquired stakes in the local marketing companies in several European countries. Refineries were built in Llandarcy in Wales (the first refinery in the United Kingdom) and Grangemouth in Scotland. It also acquired the controlling stake in the Courchelettes refinery in France and formed, in conjunction with the Government of Australia, a partnership named Commonwealth Oil Refineries, which built the Australian's first refinery in Laverton, Victoria. In 1923, Burmah employed Winston Churchill as a paid consultant to lobby the British government to allow APOC have exclusive rights to Persian oil resources, which were subsequently granted by the Iranian monarchy.
APOC and the Armenian businessman Calouste Gulbenkian were the driving forces behind the creation of Turkish Petroleum Company (TPC) in 1912, to explore oil in Mesopotamia (now Iraq); and by 1914, APOC held 50% of TPC shares. In 1925, TPC received concession in the Mesopotamian oil resources from the Iraqi government under British mandate. TPC finally struck oil in Iraq on 14 October 1927. By 1928, the APOC's shareholding in TPC, which by now was named Iraq Petroleum Company (IPC), was reduced to 23.75%; as the result of the changing geopolitics post Ottoman empire break-up, and the Red Line Agreement. Relations were generally cordial between the pro-west Hashemite Monarchy (1932–58) in Iraq and IPC, in spite of disputes centred on Iraq's wish for greater involvement and more royalties. During the 1928–68 time period, IPC monopolised oil exploration inside the Red Line; excluding Saudi Arabia and Bahrain.
In 1927, Burmah Oil and Royal Dutch Shell formed the joint marketing company Burmah-Shell. In 1928, APOC and Shell formed the Consolidated Petroleum Company for sale and marketing in Cyprus, South Africa and Ceylon, which in 1932 followed by a joint marketing company Shell-Mex and BP in the United Kingdom. In 1937, AIOC and Shell formed the Shell/D'Arcy Exploration Partners partnership to explore for oil in Nigeria. The partnership was equally owned but operated by Shell. It was later replaced by Shell-D'Arcy Petroleum Development Company and Shell-BP Petroleum Development Company (now Shell Petroleum Development Company).
In 1934, APOC and Gulf Oil founded the Kuwait Oil Company as an equally owned partnership. The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936. In 1935, Reza Shah requested the international community to refer to Persia as 'Iran', which was reflected in the name change of APOC to the Anglo-Iranian Oil Company (AIOC).
In 1937, Iraq Petroleum Company, 23.75% owned by BP, signed an oil concession agreement with the Sultan of Muscat that covers the entire region of the Sultanate, which was in fact limited to the coastal area of present-day Oman. After several years of failure to discover oil in the Sultanate's region, IPC presumed that oil was more likely to be found in the interior region of Oman, which was part of the Imamate of Oman. IPC offered financial support to raise an armed force that would assist the Sultanate in occupying the interior region of Oman. Later, in 1954, the Sultan of Muscat, backed by the British government and the financial aid he received from IPC, started occupying regions within the interior of Oman, which led to the outbreak of Jebel Akhdar War that lasted for more than 5 years.
In 1947, British Petroleum Chemicals was incorporated as a joint venture of AIOC and The Distillers Company. In 1956, the company was renamed British Hydrocarbon Chemicals.
Following World War II, nationalistic sentiments were on the rise in the Middle East; most notable being Iranian nationalism, and Arab Nationalism. In Iran, the AIOC and the pro-western Iranian government led by Prime Minister Ali Razmara resisted nationalist calls to revise AIOC's concession terms in Iran's favour. In March 1951, Razmara was assassinated and Mohammed Mossadeq, a nationalist, was elected as the new prime minister by the Majlis of Iran (parliament). In April 1951, the Iranian government nationalised the Iranian oil industry by unanimous vote, and the National Iranian Oil Company (NIOC) was formed, displacing the AIOC. The AIOC withdrew its management from Iran, and Britain organised an effective worldwide embargo of Iranian oil. The British government, which owned the AIOC, contested the nationalisation at the International Court of Justice at The Hague, but its complaint was dismissed.
Prime Minister Churchill asked President Eisenhower for help in overthrowing Mossadeq. The anti-Mossadeq plan was orchestrated under the code-name 'Operation Ajax' by CIA, and 'Operation Boot' by SIS (MI6). The CIA and the British helped stage a coup in August 1953, the 1953 Iranian coup d'état, which established pro-Western general Fazlollah Zahedi as the new PM, and greatly strengthened the political power of Shah Mohammad Reza Pahlavi. The AIOC was able to return to Iran.
1954 to 1979
In 1954, the AIOC became the British Petroleum Company. After the 1953 Iranian coup d'état, Iranian Oil Participants Ltd (IOP), a holding company, was founded in October 1954, in London to bring Iranian oil back to the international market. British Petroleum was a founding member of this company with 40% stake. IOP operated and managed oil facilities in Iran on behalf of NIOC. Similar to the Saudi-Aramco "50/50" agreement of 1950, the consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors."
In 1953, British Petroleum entered the Canadian market through the purchase of a minority stake in Calgary-based Triad Oil Company, and expanded further to Alaska in 1959, resulting discovery of oil at Prudhoe Bay in 1969. In 1956, its subsidiary D'Arcy Exploration Co. (Africa) Ltd. was granted four oil concessions in Libya. In 1962, Scottish Oils ceased oil-shale operations. In 1965, it was the first company to strike oil in the North Sea. In 1969, BP entered the United States by acquiring the East Coast refining and marketing assets of Sinclair Oil Corporation. The Canadian holding company of British Petroleum was renamed BP Canada in 1969; and in 1971, it acquired 97.8% stake of Supertest Petroleum.
By the 1960s, British Petroleum had developed a reputation for taking on the riskiest ventures. It earned the company massive profits; it also earned them the worst safety record in the industry. In 1967, the giant oil tanker Torrey Canyon foundered off the English coast. Over 32 million US gallons (760,000 bbl; 120,000 m) of crude oil was spilled into the Atlantic and onto the beaches of Cornwall and Brittany, causing Britain's worst-ever oil spill. The ship was owned by the Bahamas-based Barracuda Tanker Corporation and was flying the flag of Liberia, a well-known flag of convenience, but was being chartered by British Petroleum. The ship was bombed by RAF jet bombers in an effort to break up the ship and burn off the leaking oil, but this failed to destroy the oil slick.
In 1967, BP acquired chemical and plastics assets of The Distillers Company which were merged with British Hydrocarbon Chemicals to form BP Chemicals.
The company's oil assets were nationalised in Libya in 1971, in Kuwait in 1975, and in Nigeria in 1979. In Iraq, IPC ceased its operations after it was nationalised by the Ba'athist Iraqi government in June 1972, although legally Iraq Petroleum Company still remains in existence but as a dormant company, and one of its associated companies —Abu Dhabi Petroleum Company (ADPC), formerly Petroleum Development (Trucial Coast) Ltd – also continues with the original shareholding intact.
The intensified power struggle between oil companies and host governments in Middle East, along with the oil price shocks that followed the 1973 oil crisis meant British Petroleum lost most of its direct access to crude oil supplies produced in countries that belonged to the Organization of Petroleum Exporting Countries (OPEC), and prompted it to diversify its operations beyond the heavily Middle East dependent oil production. In 1976, BP and Shell de-merged their marketing operations in the United Kingdom by dividing Shell-Mex and BP. In 1978, the company acquired a controlling interest in Standard Oil of Ohio (Sohio).
In Iran, British Petroleum continued to operate until the Islamic Revolution in 1979. The new regime of Ayatollah Khomeini nationalised all of the company's assets in Iran without compensation: as a result, BP lost 40% of its global crude oil supplies.
In 1970–1980s, BP diversified into coal, minerals and nutrition businesses which all were divested later.
1979 to 1997
The British government sold 80 million shares of BP at $7.58 in 1979, as part of Thatcher-era privatisation. This sale represented slightly more than 5% of BP's total shares and reduced the government's ownership of the company to 46%. On 19 October 1987, Prime Minister Margaret Thatcher authorised the sale of an additional GBP7.5 billion ($12.2 billion) of BP shares at 333 pence, representing the government's remaining 31% stake in the company.
In November 1987, the Kuwait Investment Office purchased a 10.06% interest in BP, becoming the largest institutional shareholder. The following May, the KIO purchased additional shares, bringing their ownership to 21.6%. This raised concerns within BP that operations in the United States, BP's primary country of operations, would suffer. In October 1988, the British Department of Trade and Industry required the KIO to reduce its shares to 9.6% within 12 months.
Peter Walters was the company chairman from 1981 to 1990. During his period as chairman he reduced the company's refining capacity in Europe. In 1982, the downstream assets of BP Canada were sold to Petro Canada. In 1984, Standard Oil of California was renamed the Chevron Corporation; it bought Gulf Oil—the largest merger in history at that time. To meet anti-trust regulations, Chevron divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States to British Petroleum and Cumberland Farms in 1985. In 1987, British Petroleum negotiated the acquisition of Britoil and the remaining publicly traded shares of Standard Oil of Ohio. At the same year it was listed on the Tokyo Stock Exchange where its share were traded until delisting in 2008.
Walters was replaced as chair by Robert Horton in 1990. Horton wrote on his appointment that he and his senior colleagues would adopt values representing the interests of "all stakeholders", including the company's employees, customers, shareholders, suppliers and the community". Horton carried out a major corporate downsizing exercise, removing various tiers of management at the head office. In 1992, British Petroleum sold off its 57% stake in BP Canada (upstream operations), which was renamed as Talisman Energy. John Browne, who had joined BP in 1966 and rose through the ranks to join the board as managing director in 1991, was appointed group chief executive in 1995.
In 1981, British Petroleum entered into the solar technology sector by acquiring 50% of Lucas Energy Systems, a company which became Lucas BP Solar Systems, and later BP Solar. The company was a manufacturer and installer of photovoltaic solar cells. It became wholly owned by British Petroleum in the mid-1980s.
British Petroleum entered the Russian market in 1990 and opened its first service station in Moscow in 1996. In 1997, it acquired a 10% stake for $571 million in the Russian oil company Sidanco, which later became a part of TNK-BP. Sidanco was run by Russian oligarch Vladimir Potanin who obtained Sidanco through the controversial loans-for-shares privatization scheme. In 2003, BP invested $8 billion into a joint venture with Russian oligarch Mikhail Fridman's TNK.
In 1992, the company entered the Azerbaijani market. In 1994, it signed the production sharing agreement for the Azeri–Chirag–Guneshli oil project and in 1995 for the Shah Deniz gas field development.
1998 to 2009
Under John Browne, British Petroleum acquired other oil companies, transforming BP into the third largest oil company in the world. British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. Most Amoco stations in the United States were converted to BP's brand and corporate identity. In 2000, BP Amoco acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol. Together with the acquisition of ARCO in 2000, BP became owner of a 33.5% stake in the Olympic Pipeline. Later that year, BP became an operator of the pipeline and increased its stake up to 62.5%.
As part of the merger's brand awareness, the company helped the Tate Modern gallery of British Art launch RePresenting Britain 1500–2000. In 2001, in response to negative press on British Petroleum's poor safety standards, the company adopted a green sunburst logo and rebranded itself as BP ("Beyond Petroleum") plc.
In the beginning of the 2000s, BP became the leading partner (and later operator) of the Baku–Tbilisi–Ceyhan pipeline project which opened a new oil transportation route from the Caspian region. In 2002, BP acquired the majority of Veba Öl AG, a subsidiary of VEBA AG, and subsequently rebranded its existing stations in Germany to the Aral name. As part of the deal, BP acquired also the Veba Öl's stake in Ruhr Öl joint venture. Ruhr Öl was dissolved in 2016.
On 1 September 2003, BP and a group of Russian billionaires, known as AAR (Alfa–Access–Renova), announced the creation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine. As a result, TNK-ВР was created.
In 2004, BP's olefins and derivatives business was moved into a separate entity which was sold to Ineos in 2005. In 2007, BP sold its corporate-owned convenience stores, typically known as "BP Connect", to local franchisees and jobbers.
On 23 March 2005, 15 workers were killed and more than 170 injured in the Texas City refinery explosion. To save money, major upgrades to the 1934 refinery had been postponed. Browne pledged to prevent another catastrophe. Three months later, 'Thunder Horse PDQ', BP's giant new production platform in the Gulf of Mexico, nearly sank during a hurricane. In their rush to finish the $1 billion platform, workers had installed a valve backwards, allowing the ballast tanks to flood. Inspections revealed other shoddy work. Repairs costing hundreds of millions would keep Thunder Horse out of commission for three years.
Lord Browne resigned from BP on 1 May 2007. The head of exploration and production Tony Hayward became the new chief executive. In 2009, Hayward shifted emphasis from Lord Browne's focus on alternative energy, announcing that safety would henceforth be the company's "number one priority".
In 2007, BP formed with AB Sugar and DuPont a joint venture Vivergo Fuels which opened a bioethanol plant in Saltend near Hull, United Kingdom in December 2012. Together with DuPont, BP formed a biobutanol joint venture Butamax by acquiring biobutan technology company Biobutanol LLC in 2009.
In 2009, BP obtained a production contract to develop the supergiant Rumaila field with joint venture partner CNPC.
2010 to 2020
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In January 2010, Carl-Henric Svanberg became chairman of BP board of directors.
On 20 April 2010, the Deepwater Horizon oil spill, a major industrial accident, happened. Consequently, Bob Dudley replaced Tony Hayward as the company's CEO, serving from October 2010 to February 2020. BP announced a divestment program to sell about $38 billion worth of non-core assets to compensate its liabilities related to the accident. In July 2010, BP sold its natural gas activities in Alberta and British Columbia, Canada, to Apache Corporation. It sold its stake in the Petroperijá and Boquerón 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, forecourts and supply businesses in Namibia, Botswana, Zambia, Tanzania and Malawi to Puma Energy, the Wytch Farm onshore oilfield in Dorset and a package of North Sea gas assets to Perenco, natural-gas liquids business in Canada to Plains All American Pipeline LP, natural gas assets in Kansas to Linn Energy, 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, the Texas City Refinery and associated assets to Marathon Petroleum, 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, non-operating stake in the Draugen oil field to Norske Shell, and the UK's liquefied petroleum gas distribution business to DCC. In November 2012, the U.S. Government temporarily banned BP from bidding any new federal contracts. The ban was conditionally lifted in March 2014.
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 $7.2 billion. In September 2012, BP sold its subsidiary BP Chemicals (Malaysia) Sdn. Bhd., an operator of the Kuantan purified terephthalic acid (PTA) plant in Malaysia, to Reliance Industries for $230 million. In October 2012, BP sold its stake in TNK-BP to Rosneft for $12.3 billion in cash and 18.5% of Rosneft's stock. The deal was completed on 21 March 2013. In 2012, BP acquired an acreage in the Utica Shale but these developments plans were cancelled in 2014.
In 2011–2015, BP cut down its alternative energy business. The company announced its departure from the solar energy market in December 2011 by closing its solar power business, BP Solar. 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. In 2015, BP decided to exit from other lignocellulosic ethanol businesses. It sold its stake in Vivergo to Associated British Foods. BP and DuPont also mothballed their joint biobutanol pilot plant in Saltend.
In June 2014, BP agreed to a deal worth around $20 billion to supply CNOOC with liquefied natural gas. In 2014, Statoil Fuel & Retail sold its aviation fuel business to BP. To ensure the approval of competition authorities, BP agreed to sell the former Statoil aviation fuel businesses in Copenhagen, Stockholm, Gothenburg and Malmö airports to World Fuel Services in 2015.
In 2016, BP sold its Decatur, Alabama, plant to Indorama Ventures, of Thailand. At the same year, its Norwegian daughter company BP Norge merged with Det Norske Oljeselskap to form Aker BP.
In April 2017, the company reached an agreement to sell its Forties pipeline system in the North Sea to Ineos for $250 million. The sale included terminals at Dalmeny and Kinneil, a site in Aberdeen, and the Forties Unity Platform. In 2017, the company floated its subsidiary BP Midstream Partners LP, a pipeline operator in the United States, at the New York Stock Exchange. In Argentina, BP and Bridas Corporation agreed to merge their interests in Pan American Energy and Axion Energy to form a jointly owned Pan American Energy Group.
In 2017, BP invested $200 million to acquire a 43% stake in the solar energy developer Lightsource Renewable Energy, a company which was renamed Lightsource BP. In March 2017, the company acquired Clean Energy's biomethane business and assets, including its production sites and existing supply contracts. In April 2017, its subsidiary Butamax bought an isobutanol production company Nesika Energy.
In 2018, the company purchased BHP's shale assets in Texas and Louisiana, including Petrohawk Energy, for $10.5 billion, which were integrated with its subsidiary BPX Energy. Also in 2018, BP bought a 16.5% interest in the Clair field in the UK from ConocoPhillips, increasing its share to 45.1%. BP paid £1.3 billion and gave to ConocoPhillips its 39.2% non-operated stake in the Kuparuk River Oil Field and satellite oil fields in Alaska. In December 2018, BP sold its wind assets in Texas.
In 2018, BP acquired Chargemaster, which operated the UK's largest electric vehicle charging network. In 2019, BP and Didi Chuxing formed a joint venture to build out electric vehicle charging infrastructure in China. In September 2020, BP announced it will build out a rapid charging network in London for Uber.
In January 2019, BP discovered 1 billion barrels (160×10^ m) oil at its Thunder Horse location in the Gulf of Mexico. The company also announced plans to spend $1.3 billion on a third phase of its Atlantis field near New Orleans.
2020 to present
Helge Lund succeeded Carl-Henric Svanberg on 1 January 2019 as chairman of BP Plc board of directors, and Bernard Looney succeeded Bob Dudley on 5 February 2020 as chief executive. Amidst the COVID-19 pandemic, BP claimed that it would "accelerate the transition to a lower carbon economy and energy system" after announcing that the company had to write down $17.5 billion for the second quarter of 2020.
On 29 June 2020, BP sold its petrochemicals unit to Ineos for $5 billion. The business was focused on aromatics and acetyls. It had interests in 14 plants in Asia, Europe and the U.S., and achieved production of 9.7 million metric tons in 2019. On 30 June 2020, BP sold all its Alaska upstream operations and interests, including interests in Prudhoe Bay Oil Field, to Hilcorp for $5.6 billion. On 14 December 2020, it sold its 49% stake in the Trans-Alaska Pipeline System to Harvest Alaska.
In September 2020, BP formed a partnership with Equinor to develop offshore wind and announced it will acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms. The deal is expected to be completed at the first half of 2021. In December 2020, BP acquired a majority stake in Finite Carbon, the largest forest carbon offsets developer in the United States.
In response to the 2022 Russian invasion of Ukraine, BP announced that it would sell its 19.75% stake in Rosneft, although no timeline was announced. At the time of BP's decision, Rosneft's activities accounted for around half of BP's oil and gas reserves and a third of its production. BP's decision came after the British government expressed concern about BP's involvement in Russia. However, BP remained a Rosneft shareholder throughout the whole 2022 year, which caused some criticism from the Ukrainian president's office.
In October 2022, BP announced that it would be acquiring Archaea Energy Inc., a renewable natural gas producer, for $4.1 billion. In December 2022, it was announced BP had completed the acquisition of Archaea Energy Inc. for $3.3 billion. 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.
In February 2023, BP reported record annual profits, on a replacement cost basis, for the year 2022. On that basis, 2022 profits were more than double than in 2021, and they were also the biggest profits in the whole 114-year long history of BP.
After 10 years of force majeure, BP, Eni and Sonatrach resumed exploration in their blocks in the Ghadames Basin (A-B) and offshore Block C in August 2023, continuing their contract obligations.
BP increased its dividend by 10% year-on-year in early 2024 and accelerated share buybacks. It has already announced $1.75 billion before reporting first quarter results and intends to announce a $3.5 billion share buyback in the first half of the year.
Murray Auchincloss became CEO in January 2024.
In June 2024, BP announced the acquisition of Bunge Bioenergia from Bunge Global for US$1.4 billion. The purchase will increase BP's ethanol production to 50,000 barrels per day.
In November 2024, BP and partners announced its plan to invest $7 billion to a carbon capture and gas field development in Indonesia’s Papua region that has the potential of almost 3 trillion cubic feet of gas resource. Production plans are expected to start in 2028 in the Ubadari field.
Logo evolution
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2000–present
Operations
As of 31 December 2018, BP had operations in 78 countries worldwide with the global headquarters in London, United Kingdom. BP operations are organized into three business segments, Upstream, Downstream, and renewables.
Since 1951, BP has annually published its Statistical Review of World Energy, which is considered an energy industry benchmark.
Operations by location
United Kingdom
BP has a major corporate campus in Sunbury-on-Thames which is home to around 3,500 employees and over 50 business units. Its North Sea operations are headquartered in Aberdeen, Scotland. BP's trading functions are based at 20 Canada Square in Canary Wharf, London. BP has three major research and development centres in the UK.
As of 2020, and following the sale of its Andrew and Shearwater interests, BP's operations were focussed in the Clair, Quad 204 and ETAP hubs. In 2011, the company announced that it is focusing its investment in the UK North Sea into four development projects including the Clair, Devenick, Schiehallion and Loyal, and Kinnoull oilfields. BP is the operator of the Clair oilfield, which has been appraised as the largest hydrocarbon resource in the UK.
There are 1,200 BP service stations in the UK. Since 2018 BP operates the UK's largest electric vehicle charging network through its subsidiary BP Pulse (formerly Chargemaster).
In February 2020, BP announced a Joint Venture with EnBW to develop and operate 3GW off Offshore Wind capacity in the Crown Estate Leasing Round 4. This is BP's first move into Britain's Offshore wind market, however, BP currently provides a range of services to the Offshore Wind sector in the UK through its subsidiary ONYX InSight who provide a range of Predictive Maintenance and Engineering Consultancy services to the sector.
In February 2022, BP announced it acquired a 30% stake in the London-based company, Green Biofuels Ltd, a producer of renewable hydrogenated vegetable oil fuels that can be used as a direct replacement for diesel.
United States
The United States operations comprise nearly one-third of BP's operations. BP employs approximately 14,000 people in the United States. In 2018, BP's total production in the United States included 385,000 barrels per day (61,200 m/d) of oil and 1.9 billion cubic feet per day (54 million cubic metres per day) of natural gas, and its refinery throughput was 703,000 barrels per day (111,800 m/d).
BP's major subsidiary in the United States is BP America, Inc. (formerly: Standard Oil Company (Ohio) and Sohio) based in Houston, Texas. BP Exploration & Production Inc., a 1996 established Houston-based subsidiary, is dealing with oil exploration and production. BP Corporation North America, Inc., provides petroleum refining services as also transportation fuel, heat and light energy. BP Products North America, Inc., a 1954 established Houston-based subsidiary, is engaged in the exploration, development, production, refining, and marketing of oil and natural gas. BP America Production Company, a New Mexico-based subsidiary, engages in oil and gas exploration and development. BP Energy Company, a Houston-based subsidiary, is a provider of natural gas, power, and risk management services to the industrial and utility sectors and a retail electric provider in Texas.
BP's upstream activities in the Lower 48 states are conducted through Denver-based BPX Energy. It has a 7.5 billion barrels (1.19 billion cubic metres) resource base on 5.7 million acres (23,000 km). It has shale positions in the Woodford, Oklahoma, Haynesville, Texas, and Eagle Ford, Texas shales. It has unconventional gas (shale gas or tight gas) stakes also in Colorado, New Mexico and Wyoming, primarily in the San Juan Basin.
As of 2019, BP produced about 300,000 barrels per day (48,000 m/d) of oil equivalent in the Gulf of Mexico. BP operates the Atlantis, Mad Dog, Na Kika, and Thunder Horse production platforms while holding interest in hubs operated by other companies. In April 2023, BP launched a new oil rig, the Argos, in the Gulf.
BP operates Whiting Refinery in Indiana and Cherry Point Refinery in Washington. It formerly co-owned and operated a refinery in Toledo, Ohio, with Husky Energy, but sold its stake in the refinery in February 2023 to Cenovus Energy.
BP operates nine onshore wind farms in six states, and held an interest in another in Hawaii with a net generating capacity of 1,679 MW. These wind farms include the Cedar Creek 2, Titan 1, Goshen North, Flat Ridge 1 and 2, Mehoopany, Fowler Ridge 1, 2 and 3 and Auwahi wind farms. It is also in process to acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms.
Other locations
In Egypt, BP produces approximately 15% of the country's total oil production and 40% of its domestic gas. The company also has offshore gas developments in the East Nile Delta Mediterranean, and in the West Nile Delta, where the company has a joint investment of US$9 billion with Wintershall Dea to develop North Alexandria and West Mediterranean concessions offshore gas fields.
BP is active in offshore oil development in Angola, where it holds an interest in a total of nine oil exploration and production blocks covering more than 30,000 square kilometres (12,000 sq mi). This includes four blocks it acquired in December 2011 and an additional block that is operated by Brazilian national oil company, Petrobras, in which it holds a 40% stake.
BP has a stake in exploration of two blocks of offshore deepwater assets in the South China Sea.
In India, BP owns a 30% share of oil and gas assets operated by Reliance Industries, including exploration and production rights in more than 20 offshore oil and gas blocks, representing an investment of more than US$7 billion into oil and gas exploration in the country.
BP has major liquefied natural gas activities in Indonesia, where it operates the Tangguh LNG project, which began production in 2009 and has a capacity of 7.6 million tonnes of liquid natural gas per year. Also in that country, the company has invested in the exploration and development of coalbed methane.
BP operates in Iraq as part of the joint venture Rumaila Operating Organization in the Rumaila oil field, the world's fourth largest oilfield, where it produced over 1 million barrels per day (160×10^ m/d) of oil equivalent in 2011. A BBC investigation found in 2022 that waste-gas was being burned as close as 350 meters from people's homes. A leaked report from Ministry of Health (Iraq) blamed air pollution for 20% rise in cancer in Basra between 2015 and 2018. The Iraqi Ministry of Health has banned its employees from speaking about the health damage. Iraqi Environment Minister Jassem al-Falahi later admitted that "pollution from oil production is the main reason for increases in local cancer rates."
In Oman, BP currently has a 60% participation interest in Block 61. Block 61 is one of Oman's largest gas blocks with a daily production capacity of 1.5 billion cubic feet of gas and more than 65,000 barrels of condensate. It covers around 3,950 km in central Oman and contains the largest tight gas development in the Middle East. On 1 February 2021, BP inked a deal to sell 20% participating interest in Block 61 to Thailand's PTT Exploration and Production Public Company Ltd. (PTTEP) for a total of $2.6 billion. Upon closure of the sale, the BP will remain the block's operator with a 40% interest.
BP operates the Kwinana refinery in Western Australia, which can process up to 146,000 barrels per day (23,200 m/d) of crude oil and is the country's largest refinery, supplying fuel to 80% of Western Australia. BP is a non-operating joint venture partner in the North West Shelf, which produces LNG, pipeline gas, condensate and oil. The NWS venture is Australia's largest resource development and accounts for around one third of Australia's oil and gas production.
BP operates the two largest oil and gas production projects in the Azerbaijan's sector of the Caspian Sea, the Azeri–Chirag–Guneshli offshore oil fields, which supplies 80% of the country's oil production, and the Shah Deniz gas field. It also and develops the Shafag-Asiman complex of offshore geological structures. In addition, it operates the Sangachal terminal and the Azerbaijan's major export pipelines through Georgia such as Baku–Tbilisi–Ceyhan, Baku–Supsa and South Caucasus pipelines.
BP's refining operations in continental Europe include Europe's second-largest oil refinery, located in Rotterdam, the Netherlands, which can process up to 377,000 barrels (59,900 m) of crude oil per day. Other facilities are located in Ingolstadt, Gelsenkirchen and Lingen, in Germany, as well as one in Castellón, Spain.
In addition to its offshore operations in the British zone of North Sea, BP has interests in the Norwegian section of the sea through its stake in Aker BP. As of December 2018, BP holds a 19.75% stake in Russia's state-controlled oil company Rosneft.
Retail operations of motor vehicle fuels in Europe are present in the United Kingdom, France, Germany (through the Aral brand), the Netherlands, Switzerland, Italy, Austria, Poland, Greece and Turkey.
BP's Canadian operations are headquartered in Calgary and the company operates primarily in Newfoundland. It purchases crude oil for the company's refineries in the United States, and has a 35 per cent stake in the undeveloped Bay du Nord project and three offshore exploration block in Newfoundland.
BP is the largest oil and gas producer in Trinidad and Tobago, where it holds more than 1,350 square kilometres (520 sq mi) of offshore assets and is the largest shareholder in Atlantic LNG, one of the largest LNG plants in Western Hemisphere.
In Brazil, BP holds stakes in offshore oil and gas exploration in the Barreirinhas, Ceará and Campos basins, in addition to onshore processing facilities. BP also operates biofuel production facilities in Brazil, including three cane sugar mills for ethanol production.
BP operated in Singapore until 2004 when it sold its retail network of 28 stations and LPG business to Singapore Petroleum Company (SPC). It also sold its 50% in SPC.
BP's Türkiye Operator was Petrol Ofisi. (Vitol) (Agreement in place expected 2024.)
Exploration and production
See also: Oil fields operated by BPBP Upstream's activities include exploring for new oil and natural gas resources, developing access to such resources, and producing, transporting, storing and processing oil and natural gas. The activities in this area of operations take place in 25 countries worldwide. In 2018, BP produced around 3.7 million barrels per day (590×10^ m/d) of oil equivalent, of which 2.191 million barrels per day (348.3×10^ m/d) were liquids and 8.659 billion cubic feet per day (245.2 million cubic metres per day) was natural gas, and had total proved reserves of 19,945 million barrels (3,171.0×10^ m) of oil equivalent, of which liquids accounted 11,456 million barrels (1,821.4×10^ m) barrels and natural gas 49.239 trillion cubic feet (1.3943 trillion cubic metres). In addition to the conventional oil exploration and production, BP has a stake in the three oil sands projects in Canada.
BP had plans to drop its oil and gas production to fall by at least one million barrels a day by 2030, a 40% reduction on 2019 levels, but this was scrapped in October 2024, with plans for an increase in production instead.
Refining and marketing
BP downstream's activities include the refining, marketing, manufacturing, transportation, trading and supply of crude oil and petroleum products. Downstream is responsible for BP's fuels and lubricants businesses, and has major operations located in Europe, North America and Asia. As of 2018, BP owned or had a share in 11 refineries.
BP, which employs about 1,800 people in oil trading and trades over 5 million barrels per day (790×10^ m/d) of oil and refined products, is the world's third-biggest oil trader after Royal Dutch Shell and Vitol. The operation is estimated to be able to generate over $1 billion trading profits in a good year.
Air BP is the aviation division of BP, providing aviation fuel, lubricants & services. It has operations in over 50 countries worldwide. BP Shipping provides the logistics to move BP's oil and gas cargoes to market, as well as marine structural assurance. It manages a large fleet of vessels most of which are held on long-term operating leases. BP Shipping's chartering teams based in London, Singapore, and Chicago also charter third party vessels on both time charter and voyage charter basis. The BP-managed fleet consists of Very Large Crude Carriers (VLCCs), one North Sea shuttle tanker, medium size crude and product carriers, liquefied natural gas (LNG) carriers, liquefied petroleum gas (LPG) carriers, and coasters. All of these ships are double-hulled.
BP has around 18,700 service stations worldwide. Its flagship retail brand is BP Connect, a chain of service stations combined with a convenience store, although in the US it is gradually being transitioned to the ampm format. BP also owns half of Kentucky-based convenience store company Thorntons LLC with ArcLight Capital Partners (who own the Gulf brand in the United States) since 2019. On 13 July 2021, BP announced it will take acquire ArcLight Capital Partners' share of Thorntons, and thus fully own the convenience store company. The deal is expected to close later in the year. In Germany and Luxembourg, BP operates service stations under the Aral brand. 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. In Australia BP operates a number of BP Travel Centres, large-scale destination sites located which, in addition to the usual facilities in a BP Connect site, also feature food-retail tenants such as McDonald's, KFC and Nando's and facilities for long-haul truck drivers.
Castrol is BP's main brand for industrial and automotive lubricants and is applied to a large range of BP oils, greases and similar products for most lubrication applications.
Clean energy rhetoric
BP's public rhetoric and pledges emphasise that the company is shifting towards climate-friendly, low-carbon and transition strategies. However, a 2022 study found that the company's spending on clean energy was insignificant and opaque, with little to suggest that the company's discourse matched its actions.
BP was the first of supermajors to say that it would focus on energy sources other than fossil fuels. It established an alternative and low carbon energy business in 2005. According to the company, it spent a total of $8.3 billion in renewable energy projects including solar, wind, and biofuels, and non-renewable projects including natural gas and hydrogen power, through completion in 2013. The relatively small size of BP's alternative energy operations has led to allegations of greenwashing by Greenpeace, Mother Jones, and energy analyst and activist Antonia Juhasz, among others. In 2018, the CEO Bob Dudley said that out of the company's total spending of $15 to $17 billion per year, about $500 million will be invested in low-carbon energy and technology. In August 2020, BP promised to increase its annual low carbon investments to $5 billion by 2030. The company announced plans to transform into an integrated energy company, with a renewed focus on investing away from oil and into low-carbon technologies. It has set targets to have a renewables portfolio of 20 GW by 2025, and 50 GW by 2030.
BP operates nine wind farms in seven states of the U.S., and held an interest in another in Hawaii with a net generating capacity of 1,679 MW. It is also in process to acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms. BP and Tesla, Inc. are cooperating for testing the energy storage by battery at the Titan 1 wind farm. BP Launchpad has also invested in ONYX InSight, one of the leading providers of predictive analytic solutions serving the wind industry.
In Brazil, BP owns two ethanol producers—Companhia Nacional de Açúcar e Álcool andTropical BioEnergia—with three ethanol mills. These mills produce around 800,000 cubic metres per annum (5,000,000 bbl/a) of ethanol equivalent. BP has invested in an agricultural biotechnology company Chromatin, a company developing crops that can grow on marginal land and that are optimized to be used as feedstock for biofuel. Its joint venture with DuPont called Butamax, which has developed the patented bio-butanol-producing technology, and owns an isobutanol plant in Scandia, Kansas, United States. In addition BP owns biomethane production facilities in Canton, Michigan, and North Shelby, Tennessee, as well as share of facilities under construction in Oklahoma City and Atlanta. BP's subsidiary Air BP supplies aviation biofuel at Oslo, Halmstad, and Bergen airports.
BP owns a 43% stake in Lightsource BP, a company which focuses on the managing and maintaining solar farms. As of 2017, Lightsource has commissioned 1.3 GW of solar capacity and manages about 2 GW of solar capacity. It plans to increase the capacity up to 8 GW through projects in the United States, India, Europe and the Middle East. BP has invested $20 million in Israeli quick-charging battery firm StoreDot Ltd. It operates electric vehicle charging networks in the UK under its subsidiary BP Chargemaster, and in China via a joint venture with Didi Chuxing.
In partnership with Ørsted A/S, BP plans a 50 MV electrolyser at the Lingen refinery to produce hydrogen using North Sea wind power. Production is expected to begin in 2024.
BP is a majority shareholder in carbon offset developer Finite Carbon, and acquired 9 GW of US solar projects in 2021.
In 2023, following the announcement of record profits, the company scaled back their emissions targets. Originally, the company promised a 35-40% cut of emissions by the end of the decade. On 7 February, BP revised the target to a 20-30% cut in emissions, stating that it needed to keep up with the current demands for oil and gas.
Corporate affairs
| Company | Revenue (USD) | Profit (USD) | Brands |
|---|---|---|---|
| ExxonMobil | $286 billion | $23 billion | Mobil Esso Imperial Oil |
| Shell plc | $273 billion | $20 billion | Jiffy Lube Pennzoil Z Energy |
| TotalEnergies | $185 billion | $16 billion | Elf Aquitaine SunPower |
| BP | $164 billion | $7.6 billion | Amoco Aral AG |
| Chevron | $163 billion | $16 billion | Texaco Caltex Havoline |
| Marathon | $141 billion | $10 billion | ARCO |
| Phillips 66 | $115 billion | $1.3 billion | 76 Conoco JET |
| Valero | $108 billion | $0.9 billion | — |
| Eni | $77 billion | $5.8 billion | — |
| ConocoPhillips | $48.3 billion | $8.1 billion | — |
Business trends
The key trends of BP are (as at the financial year ending December 31):
| Year | Revenue (US$ bn) | Net income (US$ bn) | Employees (k) |
|---|---|---|---|
| 2017 | 240 | 3.4 | 74.7 |
| 2018 | 298 | 9.4 | 75.0 |
| 2019 | 278 | 4.0 | 70.1 |
| 2020 | 180 | –20.3 | 63.6 |
| 2021 | 164 | 7.6 | 64.0 |
| 2022 | 248 | –2.5 | 66.3 |
| 2023 | 213 | 15.2 | 66.5 |
Management
As of October 2023, the following individuals serve on the board:
- Helge Lund (chairman)
- Murray Auchincloss (chief executive officer)
- Paula Rosput Reynolds (senior independent director)
- Amanda Blanc (independent non-executive director)
- Pamela Daley (independent non-executive director)
- Melody Meyer (independent non-executive director)
- Tushar Morzaria (independent non-executive director)
- Hina Nagarajan (independent non-executive director)
- Satish Pai (independent non-executive director)
- Karen Richardson (independent non-executive director)
- Sir John Sawers (independent non-executive director)
- Johannes Teyssen (independent non-executive director)
- Ben Mathews (company secretary)
Past chairmen
Past chairmen have included:
- The Lord Strathalmond, 1954–1956
- Basil Jackson, 1956–1957
- Sir Neville Gass, 1957–1960
- Sir Maurice Bridgeman, 1960–1969
- Sir Eric Drake, 1969–1975
- Sir David Steel, 1975–1981
- Sir Peter Walters, 1981–1990
- Sir Robert Horton, 1990–1992
- The Lord Ashburton, 1992–1995
- The Lord Simon of Highbury, 1995–1997
- Peter Sutherland, 1997–2009
- Carl-Henric Svanberg, 2010–2018
- Helge Lund, 2019–
Stock
The company's shares are primarily traded on the London Stock Exchange, but also listed on the Frankfurt Stock Exchange in Germany. In the United States shares are traded in US$ on the New York Stock Exchange in the form of American depository shares (ADS). One ADS represents six ordinary shares.
Following the United States Federal Trade Commission's approval of the BP-Amoco merger in 1998, Amoco's stock was removed from the S&P 500 and was merged with BP shares on the London Stock Exchange.
Branding and public relations
In the first quarter of 2001 the company adopted the marketing name of BP, and replaced its "Green Shield" logo with the "Helios" symbol, a green and yellow sunflower logo named after the Greek sun god and designed to represent energy in its many forms. BP introduced a new corporate slogan – "Beyond Petroleum" along with a $200M advertising and marketing campaign. According to the company, the new slogan represented their focus on meeting the growing demand for fossil fuels, manufacturing and delivering more advanced products, and to enable transitioning to a lower carbon footprint.
By 2008, BP's branding campaign had succeeded with the culmination of a 2007 Effie Award from the American Marketing Association, and consumers had the impression that BP was one of the greenest petroleum companies in the world. BP was criticised by environmentalists and marketing experts, who stated that the company's alternative energy activities were only a fraction of the company's business at the time. According to Democracy Now, BP's marketing campaign amounted to a deceptive greenwashing public-relations spin campaign given that BP's 2008 budget included more than $20 billion for fossil fuel investment and less than $1.5 billion for all alternative forms of energy. Oil and energy analyst Antonia Juhasz notes BP's investment in green technologies peaked at 4% of its exploratory budget prior to cutbacks, including the discontinuation of BP Solar and the closure of its alternative energy headquarters in London. According to Juhasz, "four percent...hardly qualifies the company to be Beyond Petroleum", citing BP's "aggressive modes of production, whether it's the tar sands offshore".
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. In the immediate aftermath of the spill, BP initially downplayed the severity of the incident, and made many of the same PR errors that Exxon had made after the Exxon Valdez disaster. CEO Tony Hayward was criticised for his statements and had committed several gaffes, including stating that he "wanted his life back." 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.
In February 2012 BP North America launched a $500 million branding campaign to rebuild its brand.
The company's advertising budget was about $5 million per week during the four-month spill in the Gulf of Mexico, totalling nearly $100 million.
In May 2012, BP tasked a press office staff member to openly join discussions on the Misplaced Pages article's talk page and suggest content to be posted by other editors. Controversy emerged in 2013 over the amount of content from BP that had entered this article. Misplaced Pages co-founder Jimmy Wales stated that, by identifying himself as a BP staff member, the contributor in question had complied with site policy regarding conflicts of interest.
Integrity and compliance
Investigative journalism by BBC Panorama and Africa Eye aired in June 2019 criticising BP for the way in which it had obtained the development rights of Cayar Offshore Profond and St. Louis Offshore Profond blocks, off the coast of Senegal in 2017. In 2012, a Frank Timiș 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. Soon after, Aliou Sall, brother of Senegal's president, Macky Sall, was hired at the company, implying a conflict of interest, causing public outrage in Senegal. The 2019 program by BBC Panorama and Africa Eye accuses BP of a failure in due diligence when it agreed on a deal with Timis Corporation in 2017. The deal by BP is expected to provide substantial royalties to Frank Timiș despite accusations of initially obtaining the exploration rights through corruption. Kosmos Energy was also implicated. BP refutes any implications of improper conduct. Regarding the acquisition of Timis Corporation interests in Senegal in April 2017, BP states that it "paid what it considered a fair market value for the interests at this stage of exploration/development". However, BP has not made public what was the basis of the valuation, and states that "the details of the deal are confidential". BP argues that "the amount which would be paid separately by BP to Timis Corporation would be less than one percent of what the Republic of Senegal would receive". Senegal's justice ministry has called an inquiry into the energy contracts.
LGBTQ recognition
In 2014, BP backed a global study researching challenges for lesbian, gay, bisexual and transgender employees and for ways that companies can be a "force for change" for LGBT workers around the world. In 2015, Reuters wrote that BP is "known for their more liberal policies for gay and transgender workers". A 2016 article in the Houston Chronicle said BP was "among the first major companies in the United States to offer LGBT workers equal protection and benefits roughly 20 years ago". BP scored a 100% on the 2018 Human Rights Campaign's Corporate Equality Index, which was released in 2017, although this was the most common score. Also in 2017, BP added gender reassignment surgery to its list of benefits for U.S. employees. According to the Human Rights Campaign, BP is one of only a few oil and gas companies offering transgender benefits to its employees. BP ranked No. 51 on the list of Top 100 employers for lesbian, gay, bisexual and transgender staff on the 2017 Stonewall Workplace Equality Index. Also in 2017, John Mingé, chairman and president of BP America, signed a letter alongside other Houston oil executives denouncing the proposed "bathroom bill" in Texas.
Environmental record
Climate policy
Prior to 1997, BP was a member of the Global Climate Coalition, an industry organisation established to promote global warming scepticism, but withdrew in 1997, saying "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. We in BP have reached that point.". 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 March 2002, Lord John Browne, the group chief executive of BP that time, declared in a speech that global warming was real and that urgent action was needed. Notwithstanding this, from 1988 to 2015 BP was responsible for 1.53% of global industrial greenhouse gas emissions. In 2015, BP was listed by the UK-based non-profit organisation Influence Map as the fiercest opponent of action on climate change in Europe. In 2018, BP was the largest contributor to the campaign opposing carbon fee initiative 1631 in Washington State. Robert Allendorfer, manager of BP's Cherry Point refinery, wrote the following in a letter to state lawmakers: " would exempt six of the ten largest stationary source emitters in the state, including a coal-fired power plant, an aluminum smelter, and a number of pulp and paper plants." According to a 2019 Guardian ranking, BP was the 6th largest emitter of greenhouse gases in the world.
In February 2020, BP set a goal to cut its greenhouse gas emissions to net-zero by 2050. BP is seeking net-zero carbon emissions across its operations and the fuels the company sells, including emissions from cars, homes, and factories. Details on the scope of this and how this will be achieved are publicly limited. BP said that it is restructuring its operations into four business groups to meet these goals: production and operations; customers and products; gas and low carbon; and innovation and engineering. The company discontinued involvement with American Fuel and Petrochemical Manufacturers, Western States Petroleum Association, and Western Energy Alliance, involved in lobbying government within the United States, because of differences of position on the issue of methane and carbon policies, as a development of this new commitment. However, an investigation conducted by Unearthed, an investigations unit of Greenpeace UK, and HuffPost unveiled eight anti-climate trade associations BP failed to disclose, including Alliance of Western Energy Consumers, Texas Oil and Gas Association, Australian Petroleum Production and Exploration Association, and the Business Council of Australia, among others.
In August 2020, BP America's chairman David Lawler criticised elimination of federal requirements to install equipment to detect and fix methane leaks by saying that "direct federal regulation of methane emissions is essential to preventing leaks throughout the industry and protecting the environment." BP is also a founding member of Methane Guiding Principles, an industry consortium that aims to drive methane reductions throughout the global energy supply chain.
In BP's Energy Outlook 2020, BP stated that the changing energy landscape coupled with the economic toll of the COVID-19 pandemic means that the global crude demand will never again surpass 2019's average. All three scenarios in the outlook see the consumption of coal, oil, and natural gas dropping while the role of renewable energy will soar. BP was also attempting to move from being an international oil company into becoming an integrated energy company that would focus on low-carbon technologies while also setting a target to reduce its overall oil and gas production by 40% by 2030. This plan was scrapped in October 2024, with BP looking to increase its oil and gas production instead.
In 2021, BP was ranked as the 5th most environmentally responsible company out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).
In December 2022, U.S. House Oversight and Reform Committee Chair Carolyn Maloney and U.S. House Oversight Environment Subcommittee Chair Ro Khanna sent a memorandum to all House Oversight and Reform Committee members summarizing additional findings from the Committee's investigation into the fossil fuel industry disinformation campaign to obscure the role of fossil fuels in causing global warming, and that upon reviewing internal company documents, accused BP along with ExxonMobil, Chevron, and Shell of greenwashing their Paris Agreement carbon neutrality pledges while continuing long-term investment in fossil fuel production and sales, for engaging in a campaign to promote the use of natural gas as a clean energy source and bridge fuel to renewable energy, and of intimidating journalists reporting about the companies' climate actions and of obstructing the Committee's investigation.
After initially pledging to reduce its emissions by 35% by 2030, BP stated in 2023 that it would aim for a 20-30% reduction instead.
Indigenous rights
In a 2016 study, conducted by Indra Øverland 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. The ranking of companies took into account 20 criteria, such as the companies' commitments to international standards, the presence of organisational units dedicated to handling indigenous rights, competent staffing, track records on indigenous issues, transparency, and procedures for consulting with indigenous peoples, but the actual performance of companies on indigenous rights was not assessed.
Hazardous substance dumping 1993–1995
In September 1999, one of BP's US subsidiaries, BP Exploration Alaska (BPXA), pleaded guilty to criminal charges stemming from its illegally dumping of hazardous wastes on the Alaska North Slope, paying fines and penalties totalling $22 million. BP paid the maximum $500,000 in criminal fines, $6.5 million in civil penalties, and established a $15 million environmental management system at all of BP facilities in the US and Gulf of Mexico that are engaged in oil exploration, drilling or production. The charges stemmed from the 1993 to 1995 dumping of hazardous wastes on Endicott Island, Alaska by BP's contractor Doyon Drilling. The firm illegally discharged waste oil, paint thinner and other toxic and hazardous substances by injecting them down the outer rim, or annuli, of the oil wells. BPXA failed to report the illegal injections when it learned of the conduct, in violation of the Comprehensive Environmental Response, Compensation and Liability Act.
Air pollution violations
In 2000, BP Amoco acquired ARCO, a Los Angeles-based oil group. 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. In January 2005, the agency filed a second suit against BP based on violations between August 2002 and October 2004. The suit alleged that BP illegally released air pollutants by failing to adequately inspect, maintain, repair and properly operate thousands of pieces of equipment across the refinery as required by AQMD regulations. 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. 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.
In 2013, a total of 474 Galveston County residents living near the BP Texas City Refinery filed a $1 billion lawsuit against BP, accusing the company of "intentionally misleading the public about the seriousness" of a two-week release of toxic fumes which began on 10 November 2011. "BP reportedly released Sulfur Dioxide, Methyl Carpaptan, Dimethyl Disulfide and other toxic chemicals into the atmosphere" reads the report. 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 had no comment and said it would address the suit in the court system.
Colombian farmland damages claim
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. The company was accused of benefiting from a regime of terror carried out by Colombian government paramilitaries to protect the 450-mile (720 km) Ocensa pipeline; BP said throughout that it has acted responsibly and that landowners were fairly compensated.
In 2009, another group of 95 Colombian farmers filed a suit against BP, saying the company's Ocensa pipeline caused landslides and damage to soil and groundwater, affecting crops, livestock, and contaminating water supplies, making fish ponds unsustainable. Most of the land traversed by the pipeline was owned by peasant farmers who were illiterate and unable to read the environmental impact assessment conducted by BP prior to construction, which acknowledged significant and widespread risks of damage to the land. The Supreme Court of Justice of Colombia handed down a judgement rejecting the case in August 2016.
Canadian oil sands
See also: List of articles about Canadian oil sandsSince 2007, BP has been involved in oil sands projects, which Greenpeace has called a climate crime. Members of Canada's First Nations have criticised BP's involvement for the impacts oil sands extraction has on the environment. In 2010, BP pledged to use only in-situ technologies instead of open-pit mining. It uses steam-assisted gravity drainage in-situ technology to extract bitumen. According to Greenpeace it is even more damaging to climate because while according to the Pembina Institute in-situ techniques result in lower nitrogen oxide emissions, and are less damaging to the landscape and rivers, they cause more greenhouse gas and sulphur dioxide emissions than mining. In 2010, activist shareholders asked BP for a full investigation of the Sunrise oil sands project, but were defeated. In 2013, shareholders criticised the project for being carbon-intensive.
Violations and accidents
Citing conditions similar to those that resulted in the 2005 Texas City refinery explosion, on 25 April 2006, the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) fined BP more than $2.4 million for unsafe operations at the company's Oregon, Ohio refinery. An OSHA inspection resulted in 32 per-instance wilful citations including locating people in vulnerable buildings among the processing units, failing to correct depressurisation deficiencies and deficiencies with gas monitors, and failing to prevent the use of non-approved electrical equipment in locations in which hazardous concentrations of flammable gases or vapours may exist. 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. Penalties were also issued for five serious violations, including failure to develop operating procedures for a unit that removes sulphur compound; failure to ensure that operating procedures reflect current operating practice in the Isocracker Unit; failure to resolve process hazard analysis recommendations; failure to resolve process safety management compliance audit items in a timely manner; and failure to periodically inspect pressure piping systems.
In 2008, BP and several other major oil refiners agreed to pay $422 million to settle a class-action lawsuit stemming from water contamination tied to the gasoline additive MTBE, a chemical that was once a key gasoline ingredient. Leaked from storage tanks, MTBE has been found in several water systems across the United States. The plaintiffs maintain that the industry knew about the environmental dangers but that they used it instead of other possible alternatives because it was less expensive. The companies will also be required to pay 70% of cleanup costs for any wells newly affected at any time over the next 30 years.
BP has one of the worst safety records of any major oil company that operates in the United States. Between 2007 and 2010, BP refineries in Ohio and Texas accounted for 97% of "egregious, willful" violations handed out by the U.S. Occupational Safety and Health Administration (OSHA). BP had 760 "egregious, willful" violations during that period, while Sunoco and Conoco-Phillips each had eight, Citgo two and Exxon had one. The deputy assistant secretary of labour at OSHA, said "The only thing you can conclude is that BP has a serious, systemic safety problem in their company."
A report in ProPublica, published in The Washington Post'' in 2010, found that over a decade of internal investigations of BP's Alaska operations during the 2000s warned senior BP managers that the company repeatedly disregarded safety and environmental rules and risked a serious accident if it did not change its ways. ProPublica found that "Taken together, these documents portray a company that systemically ignored its own safety policies across its North American operations – from Alaska to the Gulf of Mexico to California and Texas. Executives were not held accountable for the failures, and some were promoted despite them."
The Project On Government Oversight, an independent non-profit organisation in the United States which investigates and seeks to expose corruption and other misconduct, lists BP as number one on their listing of the 100 worst corporations based on instances of misconduct.
1965 Sea Gem offshore oil rig disaster
Main article: Sea GemIn 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. The oil rig had been hastily converted in an effort to quickly start drilling operations after the North Sea was opened for exploration. Thirteen crew members were killed. No hydrocarbons were released in the accident.
Texas City refinery explosion and leaks
The former Amoco oil refinery at Texas City, Texas, was beset by environmental issues, including chemical leaks and a 2005 explosion that killed 15 people and injured hundreds. Bloomberg News described the incident, which led to a guilty plea by BP to a felony Clean Air Act charge, as "one of the deadliest U.S. industrial accidents in 20 years." The refinery was sold to Marathon Petroleum in October 2012.
2005 explosion
Main article: Texas City refinery explosion
In March 2005, the Texas City refinery, one of the largest refineries owned then by BP, exploded causing 15 deaths, injuring 180 people and forcing thousands of nearby residents to remain sheltered in their homes. A 20-foot (6.1 m) column filled with hydrocarbon overflowed to form a vapour cloud, which ignited. The explosion caused all the casualties and substantial damage to the rest of the plant. The incident came as the culmination of a series of less serious accidents at the refinery, and the engineering problems were not addressed by the management. Maintenance and safety at the plant had been cut as a cost-saving measure, the responsibility ultimately resting with executives in London.
The fallout from the accident clouded BP's corporate image because of the mismanagement at the plant. There had been several investigations of the disaster, the most recent being that from the US Chemical Safety and Hazard Investigation Board which "offered a scathing assessment of the company." OSHA found "organizational and safety deficiencies at all levels of the BP Corporation" and said management failures could be traced from Texas to London. The company pleaded guilty to a felony violation of the Clean Air Act, was fined $50 million, the largest ever assessed under the Clean Air Act, and sentenced to three years probation.
On 30 October 2009, the US Occupational Safety and Health Administration (OSHA) fined BP an additional $87 million, the largest fine in OSHA history, for failing to correct safety hazards documented in the 2005 explosion. Inspectors found 270 safety violations that had been cited but not fixed and 439 new violations. BP appealed the fine. In July 2012, the company agreed to pay $13 million to settle the new violations. At that time OSHA found "no imminent dangers" at the Texas plant. Thirty violations remained under discussion. In March 2012, US Department of Justice officials said the company had met all of its obligations and subsequently ended the probationary period. In November 2011, BP agreed to pay the state of Texas $50 million for violating state emissions standards at its Texas City refinery during and after the 2005 explosion at the refinery. The state Attorney General said BP was responsible for 72 separate pollutant emissions that have been occurring every few months since March 2005. It was the largest fine ever imposed under the Texas Clean Air Act.
2007 toxic substance release
In 2007, 143 workers at the Texas City refinery claimed that they were injured when a toxic substance was released at the plant. In December 2009, after a three-week trial, a federal jury in Galveston awarded ten of those workers $10 million each in punitive damages, in addition to smaller damages for medical expenses and pain and suffering. The plant had a history of chemical releases. In March 2010, the federal judge hearing the case reduced the jury's award to less than $500,000. U.S. District Judge Kenneth M. Hoyt said the plaintiffs failed to prove BP was grossly negligent.
2010 chemical leak
In August 2010, the Texas Attorney General charged BP with illegally emitting harmful air pollutants from its Texas City refinery for more than a month. BP has admitted that malfunctioning equipment led to the release of over 530,000 pounds (240,000 kg) of chemicals into the air of Texas City and surrounding areas from 6 April to 16 May 2010. The leak included 17,000 pounds (7,700 kg) of benzene, 37,000 pounds (17,000 kg) of nitrogen oxides, and 186,000 pounds (84,000 kg) of carbon monoxide. The State's investigation showed that BP's failure to properly maintain its equipment caused the malfunction. When the equipment malfunctioned and caught fire, BP workers shut it down and routed escaping gases to flares. Rather than shut down associated units while compressor repairs were made, BP chose to keep operating those other units, which led to unlawful release of contaminants for almost 40 days. The Attorney General is seeking civil penalties of no less than $50 nor greater than $25,000 per day of each violation of state air quality laws, as well as attorneys' fees and investigative costs.
In June 2012, over 50,000 Texas City residents joined a class-action suit against BP, alleging they became sick in 2010 as a result of the emissions release from the refinery. BP said the release harmed no one. In October 2013, a trial designed as a test for a larger suit that includes 45,000 people found that BP was negligent in the case, but due to the lack of substantial evidence linking illness to the emissions, decided the company would be absolved of any wrongdoing.
Prudhoe Bay
Main article: Prudhoe Bay oil spill
In March 2006, corrosion of a BP Exploration Alaska (BPXA) oil transit pipeline in Prudhoe Bay transporting oil to the Trans-Alaska Pipeline led to a five-day leak and the largest oil spill on Alaska's North Slope. According to the Alaska Department of Environmental Conservation (ADEC), a total of 212,252 US gallons (5,053.6 bbl; 803.46 m) of oil was spilled, covering 2 acres (0.81 ha) of the North Slope. BP admitted that cost-cutting measures had resulted in a lapse in monitoring and maintenance of the pipeline and the consequent leak. At the moment of the leak, pipeline inspection gauges (known as "pigs") had not been run through the pipeline since 1998. BP completed the clean-up of the spill by May 2006, including removal of contaminated gravel and vegetation, which was replaced with new material from the Arctic tundra.
Following the spill, the company was ordered by regulators to inspect the 35 kilometres (22 mi) of pipelines in Prudhoe Bay using "smart pigs". In late July 2006, the "smart pigs" monitoring the pipelines found 16 places where corrosion had thinned pipeline walls. A BP crew sent to inspect the pipe in early August discovered a leak and small spill, following which, BP announced that the eastern portion of the Alaskan field would be shut down for repairs on the pipeline, with approval from the Department of Transportation. The shutdown resulted in a reduction of 200,000 barrels per day (32,000 m/d) until work began to bring the eastern field to full production on 2 October 2006. In total, 23 barrels (3.7 m) of oil were spilled and 176 barrels (28.0 m) were "contained and recovered", according to ADEC. The spill was cleaned up and there was no impact upon wildlife.
After the shutdown, BP pledged to replace 26 kilometres (16 mi) of its Alaskan oil transit pipelines and the company completed work on the 16 miles (26 km) of new pipeline by the end of 2008. In November 2007, BP Exploration, Alaska pleaded guilty to negligent discharge of oil, a misdemeanour under the federal Clean Water Act and was fined US$20 million. There was no charge brought for the smaller spill in August 2006 due to BP's quick response and clean-up. On 16 October 2007, ADEC officials reported a "toxic spill" from a BP pipeline in Prudhoe Bay comprising 2,000 US gallons (7,600 L; 1,700 imp gal) of primarily methanol (methyl alcohol) mixed with crude oil and water, which spilled onto a gravel pad and frozen tundra pond.
In the settlement of a civil suit, in July 2011 investigators from the U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration determined that the 2006 spills were a result of BPXA's failure to properly inspect and maintain the pipeline to prevent corrosion. The government issued a Corrective Action Order to BP XA that addressed the pipeline's risks and ordered pipeline repair or replacement. The U.S. Environmental Protection Agency had investigated the extent of the oil spills and oversaw BPXA's cleanup. When BP XA did not fully comply with the terms of the corrective action, a complaint was filed in March 2009 alleging violations of the Clean Water Act, the Clean Air Act and the Pipeline Safety Act. In July 2011, the U.S. District Court for the District of Alaska entered a consent decree between the United States and BPXA resolving the government's claims. Under the consent decree, BPXA paid a $25 million civil penalty, the largest per-barrel penalty at that time for an oil spill, and agreed to take measures to significantly improve inspection and maintenance of its pipeline infrastructure on the North Slope to reduce the threat of additional oil spills.
2008 Caspian Sea gas leak
On 17 September 2008, a small gas leak was discovered and one gas-injection well broached to surface in the area of the Central Azeri platform at the Azeri oilfield, a part of the Azeri–Chirag–Guneshli (ACG) project, in the Azerbaijan sector of Caspian Sea. The platform was shut down and the staff was evacuated. As the West Azeri Platform was being powered by a cable from the Central Azeri Platform, it was also shut down. Production at the West Azeri Platform resumed on 9 October 2008 and at the Central Azeri Platform in December 2008. According to leaked US Embassy cables, BP had been "exceptionally circumspect in disseminating information" and showed that BP thought the cause for the blowout was a bad cement job. 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.
California storage tanks
Santa Barbara County District Attorney sued BP West Coast Products LLC, BP Products North America, Inc., and Atlantic Richfield Company over allegations that the companies violated state laws regarding operating and maintaining motor vehicle fuel underground storage tank laws. BP settled a lawsuit for $14 million. 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. The case settled in November 2016 and was the result of collaboration among the California Attorney General's Office and several district attorney's offices across the state.
Deepwater Horizon explosion and oil spill
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 Frontline: The Spill (54:25), Frontline on PBS |
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The Deepwater Horizon oil spill was a major industrial accident on the Gulf of Mexico, which killed 11 people and injured 16 others, leaked about 4.9 million barrels (210 million US gal; 780,000 m) of oil with plus or minus 10% uncertainty, which makes it the largest accidental marine oil spill in the history of the petroleum industry, and cost to the company more than $65 billion of cleanup costs, charges and penalties. On 20 April 2010, the semi-submersible exploratory offshore drilling rig Deepwater Horizon located in the Macondo Prospect in the Gulf of Mexico exploded after a blowout. After burning for two days, the rig sank. The well was finally capped on 15 July 2010. Of 4.9 million barrels (210 million US gal; 780,000 m) of leaked oil 810,000 barrels (34 million US gal; 129,000 m) was collected or burned while 4.1 million barrels (170 million US gal; 650,000 m) entered the Gulf waters. 1.8 million US gallons (6,800 m) of Corexit dispersant was applied.
The spill had a strong economic impact on the Gulf Coast's economy sectors such as fishing and tourism.
Environmental impact
Oil spill caused damages across a range of species and habitats in the Gulf. Researchers say the oil and dispersant mixture, including PAHs, permeated the food chain through zooplankton. Toxicological effects have been documented in benthic and pelagic fish, estuarine communities, mammals, birds and turtles, deep-water corals, plankton, foraminifera, and microbial communities. Effects on different populations consist of increased mortality or as sub-lethal impairment on the organisms' ability to forage, reproduce and avoid predators. 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, and half the dolphins examined in a December 2013 study were seriously ill or dying. BP said the report was "inconclusive as to any causation associated with the spill."
Studies in 2013 suggested that as much as one-third of the released oil remains in the gulf. Further research suggested that the oil on the bottom of the seafloor was not degrading. Oil in affected coastal areas increased erosion due to the death of mangrove trees and marsh grass.
Researchers looking at sediment, seawater, biota, and seafood found toxic compounds in high concentrations that they said was due to the added oil and dispersants. Although Gulf fisheries recovered in 2011, a 2014 study of the effects of the oil spill on bluefin tuna by researchers at Stanford University and the National Oceanic and Atmospheric Administration, published in the journal Science, found that toxins released by the oil spill sent fish into cardiac arrest. The study found that even very low concentrations of crude oil can slow the pace of fish heartbeats. BP disputed the study, which was conducted as part of the federal Natural Resource Damage Assessment process required by the Oil Pollution Act. The study also found that oil already broken down by wave action and chemical dispersants was more toxic than fresh oil. 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. BP responded that the concentrations of oil in the study were a level rarely seen in the Gulf, but The New York Times reported that the BP statement was contradicted by the study.
Effects on human health
Research discussed at a 2013 conference included preliminary results of an ongoing study being done by the National Institute for Environmental Health Sciences indicating that oil spill cleanup workers carry biomarkers of chemicals contained in the spilled oil and the dispersants used. A separate study is following the health issues of women and children affected by the spill. Several studies found that a "significant percentage" of Gulf residents reported mental health problems such as anxiety, depression and PTSD. According to a Columbia University study investigating the health effects among children living less than 10 miles from the coast, more than a third of the parents report physical or mental health symptoms among their children.
Australia's 60 Minutes reported that people living along the gulf coast were becoming sick from the mixture of Corexit and oil. Susan Shaw, of the Deepwater Horizon oil spill Strategic Sciences Working Group, says "BP told the public that Corexit was 'as harmless as Dawn dishwashing liquid'...But BP and the EPA clearly knew about the toxicity of the Corexit long before this spill." According to Shaw, BP's own safety sheet on Corexit says that there are "high and immediate human health hazards". Cleanup workers were not provided safety equipment by the company, and the safety manuals were "rarely if ever" followed, or distributed to workers, according to a Newsweek investigation. The safety manuals read: "Avoid breathing vapor" and "Wear suitable protective clothing." Oil clean up workers reported that they were not allowed to use respirators, and that their jobs were threatened if they did.
A peer-reviewed study published in The American Journal of Medicine reported significantly altered blood profiles of individuals exposed to the spilled oil and dispersants that put them at increased risk of developing liver cancer, leukemia and other disorders. BP disputed its methodology and said other studies supported its position that dispersants did not create a danger to health.
In 2014, a study was published in Proceedings of the National Academy of Sciences which found heart deformities in fish exposed to oil from the spill. The researchers said that their results probably apply to humans as well as fish.
Civil and criminal suits
On 15 December 2010, the Department of Justice filed a civil and criminal suit against BP and other defendants for violations under the Clean Water Act in the U.S. District Court for the Eastern District of Louisiana. The case was consolidated with about 200 others, including those brought by state governments, individuals, and companies under Multi-District Litigation docket MDL No. 2179, before U.S. District Judge Carl Barbier.
In November 2012, BP and the Department of Justice reached a $4 billion settlement of all federal criminal charges related to the explosion and spill. Under the settlement, BP agreed to plead guilty to 11 felony 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. BP also paid $525 million to settle civil charges by the Securities and Exchange Commission that it misled investors about the flow rate of oil from the well. At the same time, the US government filed criminal charges against three BP employees; two site managers were charged with manslaughter and negligence, and one former vice president with obstruction.
Judge Barbier ruled in the first phase of the case that BP had committed gross negligence and that "its employees took risks that led to the largest environmental disaster in U.S. history." He apportioned fault at 67% for BP, 30% for Transocean and 3% for Halliburton. Barbier ruled that BP was "reckless" and had acted with "conscious disregard of known risks."
Claims settlement
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. BP also set aside $100 million to compensate oil workers who lost their jobs because of the spill.
On 2 March 2012, BP and businesses and residents affected by the spill reached a settlement of roughly 100,000 suits claiming economic losses. BP estimated that the settlement cost more than $9.2 billion.
In 2015, BP and five states agreed to an $18.5 billion settlement to be used for Clean Water Act penalties and various claims.
2022 Ohio refinery fire
On 20 September 2022, a fire at BP's Husky Toledo refinery caused the death of two workers there. The fire was put out that day, but the refinery remained shut down. The refinery's shutdown was expected to increase American petrol prices.
Political influence
Lobbying for Libyan prisoner transfer release
BP lobbied the British government to conclude a prisoner-transfer agreement which the Libyan government had wanted to secure the release of Abdelbaset al-Megrahi, the only person convicted for the 1988 Lockerbie bombing over Scotland, which killed 270 people. BP stated that it pressed for the conclusion of prisoner transfer agreement amid fears that delays would damage its "commercial interests" and disrupt its £900 million offshore drilling operations in the region, but it said that it had not been involved in negotiations concerning the release of Megrahi.
Political contributions and lobbying
In February 2002, BP's then-chief executive, Lord Browne of Madingley, renounced the practice of corporate campaign contributions, saying: "That's why we've decided, as a global policy, that from now on we will make no political contributions from corporate funds anywhere in the world." When the Washington Post reported in June 2010 that BP North America "donated at least $4.8 million in corporate contributions in the past seven years to political groups, partisan organizations and campaigns engaged in federal and state elections", mostly to oppose ballot measures in two states aiming to raise taxes on the oil industry, the company said that the commitment had only applied to contributions to individual candidates.
During the 2008 U.S. election cycle, BP employees contributed to various candidates, with Barack Obama receiving the largest amount of money, broadly in line with contributions from Shell and Chevron, but significantly less than those of Exxon Mobil.
In 2009, BP spent nearly $16 million lobbying the U.S. Congress. In 2011, BP spent a total of $8,430,000 on lobbying and had 47 registered lobbyists.
Oman 1954 War
Further information: Jebel Akhdar WarIn 1937, Iraq Petroleum Company (IPC), 23.75% owned by BP, signed an oil concession agreement with the Sultan of Muscat. In 1952, IPC offered financial support to raise an armed force that would assist the Sultan in occupying the interior region of Oman, an area that geologists believed to be rich in oil. This led to the 1954 outbreak of Jebel Akhdar War in Oman that lasted for more than five years.
Market manipulation investigations and sanctions
The US Justice Department and the Commodity Futures Trading Commission filed charges against BP Products North America Inc. (subsidiary of BP plc) and several BP traders, alleging they conspired to raise the price of propane by seeking to corner the propane market in 2004. In 2006, one former trader pleaded guilty. In 2007, BP paid $303 million in restitution and fines as part of an agreement to defer prosecution. BP was charged with cornering and manipulating the price of TET propane in 2003 and 2004. BP paid a $125 million civil monetary penalty to the CFTC, established a compliance and ethics program, and installed a monitor to oversee BP's trading activities in the commodities markets. BP also paid $53 million into a restitution fund for victims, a $100 million criminal penalty, plus $25 million into a consumer fraud fund, as well as other payments. Also in 2007, four other former traders were charged. These charges were dismissed by a US District Court in 2009 on the grounds that the transactions were exempt under the Commodities Exchange Act because they didn't occur in a marketplace but were negotiated contracts among sophisticated companies. The dismissal was upheld by the Court of Appeals for the 5th Circuit in 2011.
In November 2010, US regulators FERC and CFTC began an investigation of BP for allegedly manipulating the gas market. The investigation relates to trading activity that occurred in October and November 2008. At that time, CFTC Enforcement staff provided BP with a notice of intent to recommend charges of attempted market manipulation in violation of the Commodity Exchange Act. BP denied that it engaged in "any inappropriate or unlawful activity." In July 2011, the FERC staff issued a "Notice of Alleged Violations" saying it had preliminarily determined that several BP entities fraudulently traded physical natural gas in the Houston Ship Channel and Katy markets and trading points to increase the value of their financial swing spread positions.
In May 2013, the European Commission started an investigation into allegations the companies reported distorted prices to the price reporting agency Platts, in order to "manipulate the published prices" for several oil and biofuel products. The investigation was dropped in December 2015 due to lack of evidence.
A dataset of gasoline prices of BP, Caltex, Woolworths, Coles, and Gull from Perth gathered in the years 2001 to 2015 was used to show by statistical analysis the tacit collusion between these retailers.
Documents from a 2016 bid to drill in the Great Australian Bight revealed claims by BP that a large-scale cleanup operation following a massive oil spill would bring a "welcome boost to local economies." In the same bid BP also stated that a diesel spill would be "socially acceptable" due to a lack of "unresolved stakeholder concerns".
An internal email from mid 2017, was leaked in April 2018 in New Zealand. The email laid out that pricing was to be raised at certain sites in a region around Otaki in order to regain volume lost at that branch. This led to the Government asking the Commerce Commission to investigate regional prices: initial indications were that motorists were paying too much across most of the country.
See also
Notes
- Data is based on the 2022 Fortune 500.
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{{cite journal}}: Cite journal requires|journal=(help) - ^ David Brennan (6 April 2018). "Massive Oil Spill 'Welcome Boost' To Economy, Says BP". Newsweek. Retrieved 10 April 2018.
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Bibliography
Commissioned works
(In chronological order)
- Ferrier, R.W. (1982). The History of the British Petroleum Company: The Developing Years 1901–1932. Vol. I. Cambridge: Cambridge University Press. ISBN 9780521246477.
- Bamberg, James H (1994). The History of the British Petroleum Company: The Anglo-Iranian Years, 1928–1954. Vol. II. Cambridge: Cambridge University Press. ISBN 9780521259507.
- Bamberg, James H (2000). The History of the British Petroleum Company: British Petroleum and Global Oil, 1950–1975: The Challenge of Nationalism. Vol. III. Cambridge: Cambridge University Press. ISBN 9780521785150.
- BP. Annual Report and Form 20-F 2018 (PDF).
- BP. Annual Report and Form 20-F 2023 (PDF).
Other works
- Alsharhan, A. S.; Nairn, A. E. M. (1997). Sedimentary basins and petroleum geology of the Middle East (2 ed.). Elsevier. ISBN 978-0-444-82465-3.
- Atabaki, Touraj; Bini, Elisabetta; Ehsani, Kaveh, eds. (2018). Working for Oil: Comparative Social Histories of Labor in the Global Oil Industry. Springer. ISBN 9783319564456.
- Bailey, Martin (1978). Shell and BP in South Africa (2nd ed.). Birmingham: Haslemere Group/Anti-Apartheid. ISBN 0905094026.
- Bayne Fisher, W. William; Avery, P.; Hambly, G. R. G.; Melville, C. (1991). The Cambridge History of Iran, Volume 7. Cambridge University Press. p. 1096. ISBN 9780521200950.
- Beale, Nicholas (2012). Constructive Engagement: Directors and Investors in Action. Gower Publishing. ISBN 9781409457824.
- Black, Edwin (2011). British Petroleum and the Redline Agreement The West's Secret Pact to Get Mideast Oil. Washington, DC: Dialog Press. ISBN 9780914153153.
- Boscheck, Ralf (2008). Strategies, Markets and Governance: Exploring Commercial and Regulatory Agendas. Cambridge University Press. p. 360. ISBN 9780521868457.
- Brune, Lester H. (2003). Burns, Richard Dean (ed.). Chronological History of U.S. Foreign Relations: 1932–1988 (2 ed.). Routledge. ISBN 978-0-415-93916-4.
- Kinzer, Stephen (2003). All the Shah's Men: An American Coup and the Roots of Middle East Terror. Wiley. p. 272. ISBN 9780471265177.
- Lauterpacht, E. (1973). International Law Reports. Cambridge University Press. p. 560. ISBN 9780521463911.
- Louis, Wm. Roger (2007). Ends of British Imperialism: The Scramble for Empire, Suez, and Decolonization. I.B.Tauris. p. 1082. ISBN 9781845113476.
- Marwick, William Hutton (1964). Scotland in Modern Times: An Outline of Economic and Social Development Since the Union Of 1707. Frank Cass and Company Limited. p. 175. ISBN 9780714613420.
- Meyer, Karl E; Brysac, Shareen (2008). Kingmakers: The Invention of the Modern Middle East. New York: W.W. Norton. ISBN 9780393061994.
- Ritchie, Berry (1995). Portrait in Oil: An Illustrated History of BP. London: James & James. ISBN 090738367X.
- Safina, Carl (2011). A Sea in Flames:The Deepwater Horizon Oil Blowout. Crown Publishers. ISBN 9780307887351.
- Sampson, Anthony (1975). The Seven Sisters: The Great Oil Companies And The World They Shaped. New York: Viking Press. ISBN 067063591X. (Also 4th, revised, edition (1991). The Seven Sisters: The 100-year battle for the world's oil supply. New York: Bantam Books. ISBN 0553242377.
{{cite book}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)) - Sztucki, Jerzy (1984). Interim measures in the Hague Court. Brill Archive. ISBN 9789065440938.
- Vassiliou, M. S. (2009). Historical Dictionary of the Petroleum Industry : Volume 3. Scarecrow Press. p. 662. ISBN 9780810859937.
- Yergin, Daniel (1991). The Prize: The Epic Quest for Oil, Money, and Power. New York: Simon & Schuster. ISBN 0671502484.
- ——————— (2011). The Quest: Energy, Security, and the Remaking of the Modern World. New York: Penguin Press. ISBN 9781594202834.
External links
- Official website
- Business data for BP plc:
- BP companies grouped at OpenCorporates
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