BP

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BP

Type	Public (LSE: BP) (NYSE: BP)
Industry	Oil and Natural Gas, Alternative fuels
Founded	1909 (as the Anglo-Persian Oil Company) 1954 (as the British Petroleum Company) 1998 (merger of BP and Amoco)
Headquarters	City of Westminster, London, United Kingdom
Area served	Worldwide
Key people	Carl-Henric Svanberg (Chairman) Tony Hayward (CEO) Byron Grote (CFO)
Products	BP petroleum and derived products BP service stations Air BP Aviation Fuels Castrol motor oil ARCO gas stations am/pm convenience stores Aral service stations solar pannels
Revenue	US $246.1 billion (2009)[1]
Operating income	US $26.43 billion (2009)[1]
Net income	US $16.58 billion (2009)[1]
Total assets	US $236.0 billion (2009)
Total equity	US $101.6 billion (2009)
Employees	92,000 (March 2009)
Website	BP.com

1922 BP advert

BP plc is a British global energy company that is also the third largest global energy company and the 4th largest company in the world. As a multinational oil company ("oil major") BP is the UK's largest corporation, with its headquarters in St James's, City of Westminster, London.^[2][3][4] BP America's headquarters is in the Two Westlake Park in the Energy Corridor area of Houston. The company is among the largest private sector energy corporations in the world, and one of the six "supermajors" (vertically integrated private sector oil exploration, natural gas, and petroleum product marketing companies).^[5] The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

Activity in 1909–1979

In May 1901, William Knox D'Arcy was granted a concession by the Shah of Iran to search for oil which he discovered in May 1908.^[6] This was the first commercially significant find in the Middle East. On 14 April 1909, the Anglo-Persian Oil Company (APOC) was incorporated to exploit this.^[6] In 1923, the company secretly gave £5,000 to future Prime Minister Winston Churchill to lobby the British government to allow them to monopolise Persian oil resources.^[7] In 1935, it became the Anglo-Iranian Oil Company (AIOC).^[6]

After World War II, AIOC and the Iranian government initially resisted nationalist pressure to revise AIOC's concession terms still further in Iran's favour. But in March 1951, the pro-western Prime Minister Ali Razmara was assassinated.^[8] The Majlis of Iran (parliament) elected a nationalist, Mohammed Mossadeq, as prime minister. In April, the Majlis nationalised the oil industry by unanimous vote.^[9] The National Iranian Oil Company was formed as a result, displacing the AIOC.^[10] The AIOC withdrew its management from Iran, and organised an effective boycott 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.^[11]

By spring of 1953, incoming U.S. President Dwight D. Eisenhower authorised the Central Intelligence Agency (CIA) to organise a coup against the Mossadeq government with support from the British government.^[12] On 19 August 1953, Mossadeq was forced from office by the CIA conspiracy, involving the Shah and the Iranian military, and known by its codename, Operation Ajax.^[12]

Classic shield logo, designed by Raymond Loewy, used from 1979 to 2000 and still in use in a small number of petrol stations.

Mossadeq was replaced by pro-Western general Fazlollah Zahedi,^[13] and the Shah, who had left the country briefly to await the outcome of the coup, returned to Iran. He abolished the democratic Constitution and assumed autocratic powers.

After the coup, Mossadegh's National Iranian Oil Company became an international consortium, and AIOC resumed operations in Iran as a member of it.^[10] 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."^[14] AIOC, as a part of the Anglo-American coup d'état deal, was not allowed to monopolise Iranian oil as before. It was limited to a 40% share in a new international consortium. For the rest, 40% went to the five major American companies and 20% went to Royal Dutch Shell and Compagnie Française des Pétroles, now Total S.A..^[15]

The AIOC became the British Petroleum Company in 1954. In 1959 the company expanded beyond the Middle East to Alaska^[16] and in 1965 it was the first company to strike oil in the North Sea.^[17] In 1978 BP acquired a controlling interest in Standard Oil of Ohio or Sohio, a breakoff of the former Standard Oil that had been broken up after anti-trust litigation.^[18]

BP continued to operate in Iran until the Islamic Revolution in 1979. The new regime of Ayatollah Khomeini confiscated all of BP's assets in Iran without compensation, finally closing BP's 70-year presence in Iran.

1980s and 1990s

Sir Peter Walters was BP's chairman from 1981 to 1990.^[19] This was the era of the Thatcher government's privatisation strategy. The British government sold its entire holding in BP in several tranches between 1979 and 1987.^[20] The sale process was marked by a bad attempt by the Kuwait Investment Office, the investment arm of the Kuwait government, to acquire control of BP.^[21] This was ultimately blocked by the strong opposition of the British government. In 1987, British Petroleum negotiated the acquisition of Britoil^[22] and the remaining publicly traded shares of Standard Oil of Ohio. ^[18]

A British BP Shop Petrol Station.

Walters was replaced by Robert Horton in 1989. Horton carried out a major corporate down-sizing exercise removing various tiers of management within the BP Head Office.^[23]

Lord Browne of Madingley, who had been on the board as managing director since 1991, was appointed group chief executive in 1995.^[24] Browne was responsible for three major acquisitions; Amoco, ARCO and Burmah-Castrol (see below).

Recent years

The examples and perspective in this section deal primarily with the United States and do not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page.

British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998,^[25] becoming BP Amoco until 2000 when it was renamed BP 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, however, BP continued to sell Amoco branded gasoline 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 gasoline in the US, comparable only to Chevron and Shell. 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 gasoline available in the United States was still called Amoco Ultimate. In 2000, British Petroleum acquired Arco (Atlantic Richfield Co.)^[26] and Burmah Castrol plc.^[27]

Chief scientist, Steven Koonin (top right, with laptop), speaks about the energy scene in the boardroom in 2005.

In April 2004, BP decided to move most of its petrochemical businesses into a separate entity called Innovene within the BP Group. BP sought to sell the new company possibly via an initial public offering (IPO) in the US, and filed IPO plans for Innovene with the New York Stock Exchange on 12 September 2005. On 7 October 2005, however, BP announced that it had agreed to sell Innovene to INEOS, a privately held UK chemical company for $9 billion, thereby scrapping its plans for the IPO.^[28]

On 23 March 2005, an explosion occurred at BP's Texas City Refinery. The third largest refinery in the US and one of the largest in the world, at the time it processed 433,000 barrels (68,800 m³) of crude oil per day and accounted for 3% of the nation's gasoline supply. Over 100 were injured, fifteen fatally, including employees of the Fluor Corporation as well as BP. BP agreed that its mismanagement contributed to the accident. Level indicators failed, leading to overfilling of a heater, and light hydrocarbons spread throughout the area. An unidentified ignition source set off the explosion. ^[29]

In 2005, BP announced that it would be leaving the Colorado market.^[30] Many locations were re-branded as Conoco.^[31]

BP Americas headquarters in the Energy Corridor area of Houston

In March 2006, a leak in one of BP's pipelines on the North Slope in Alaska caused a spill of oil onto the tundra, leading BP to commit to replace over 16 miles (26 km) of federally regulated Oil Transit Lines (OTLs). As of the end of 2007, one half of the pipeline had been replaced and all 16 miles (26 km) of pipeline are now tested regularly. ^[32]

On 19 July 2006, BP announced that it would close the last 12 out of 57 oil wells in Alaska, mostly in Prudhoe Bay, that had been leaking. The wells were leaking insulating agent called Arctic pack, consisting of crude oil and diesel fuel, between the wells and ice.^[33]

BP has recently looked to grow its oil exploration activities in frontier areas such as the former Soviet Union for its future reserves.^[34] In Russia, BP owns 50% of TNK-BP with the other half owned by three Russian billionaires. TNK-BP accounts for a fifth of BP's global reserves, a quarter of BP's production, and nearly a tenth of its global profits.^[35]

In 2007, according to some private BP-branded gasoline center operators in the Metro Atlanta area, BP planned to leave the Southern market in the next few years. All corporate-owned BP stations, typically known as "BP Connect", were to be sold to local jobbers.^[36]

On 12 January 2007, it was announced that Lord Browne would retire at the end of July 2007.^[37] The new Chief Executive will be the current head of exploration and production, Tony Hayward. It had been expected that Lord Browne would retire in February 2008 when he reached the age of 60, the standard retirement age at BP. Browne resigned abruptly from BP on 1 May 2007, following the lifting of a legal injunction preventing Associated Newspapers from publishing details about his private life. Hayward succeeded Browne with immediate effect.^[38]

On 20 April 2010, the Deepwater Horizon rig exploded off the Gulf of Mexico,^[39] resulting in excess of 200,000 gallons of oil (approx. 5,000 barrels) leaking every single day after a blow-out preventer designed to stop oil from flowing out during an emergency failed to activate. The spill was expected to continue until the blow-out preventer could be activated or another containment method implemented. Though 115 workers were evacuated from the site, eleven missing workers were presumed dead. On 28 April 2010, the US Coast Guard set fire to some sequestered portions of oil which had leaked from the uncapped well located five thousand feet below the Gulf of Mexico.

On 29 April 2010, the economic impact from the Deepwater Horizon drilling rig explosion on Gulf Coast shrimpers led to a suit naming BP as well as Transocean and Halliburton as co-defendants. Two similar lawsuits were filed in U.S. District Courts in New Orleans and the adjacent Gulf state of Alabama on 28 and 29 April, respectively, accusing the companies of negligence. ^[40]

Governance

BP head office in St. James's, City of Westminster

The Board Members are:^[41]

• Carl-Henric Svanberg – Chairman
• Sir Ian Prosser – Non-executive director
• Byron Grote – Chief Financial Officer
• Andy Inglis – Chief executive, Exploration and Production
• Antony Burgmans – Non-executive director, board of Mauritshuis, AEGON, Unilever
• Cynthia Carroll – Non-executive director, CEO of Anglo American, also board of De Beers
• Sir William Castell – Non-executive director chairman of The Prince’s Trust
• George David – Non-executive director
• Tony Hayward – CEO/MD BP Worldwide
• Ian Conn
• George David vice-chairman of the Peterson Institute for International Economics
• Erroll Davis, board of General Motors and Union Pacific.
• Douglas J Flint, CBE director HSBC
• Dr DeAnne Julius, director of Chatham House

Financial data

Chart of the major energy companies dubbed "Big Oil" sorted by latest published revenue

Source :'OpesC'

Accidents

Texas City Refinery disaster

One of BP's largest refineries in the USA exploded in March 2005 causing 15 deaths. The fall-out from the accident continues to cloud BP's corporate image because of the mismanagement at the plant. There have been several investigations of the disaster, the most recent being that from the U.S. Chemical Safety and Hazard Investigation Board. It was preceded by the Baker report and BP's own internal investigation.^[42]

A large 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.^[42]

On 30 October 2009 the US Occupational Safety and Health Administration (OSHA) imposed an $87 million fine on the company for failing to correct safety hazards revealed in the 2005 explosion. The fine was the largest in OSHA's history.^[43]

Prudhoe Bay

In August, 2006, BP shut down oil operations in Prudhoe Bay, Alaska, due to corrosion in pipelines leading up to the Alaska Pipeline. BP had spilled over one million litres of oil in Alaska's North Slope.^[44] This corrosion is caused by sediment collecting in the bottom of the pipe, protecting corrosive bacteria from chemicals sent through the pipeline to fight this bacteria. There are estimates that about 5,000 barrels (790 m³) of oil were released from the pipeline. To date 1,513 barrels (240.5 m³) of liquids, about 5,200 cubic yards (4,000 m³) of soiled snow and 328 cubic yards (251 m³) of soiled gravel have been recovered. After approval from the DOT, only the eastern portion of the field was shut down, resulting in a reduction of 200,000 barrels per day (32,000 m³/d) until work began to bring the eastern field to full production on 2 October 2006.^[45]

In May 2007, the company announced another partial field shutdown owing to leaks of water at a separation plant. Their action was interpreted as another example of fallout from a decision to cut maintenance of the pipeline and associated facilities. ^[46]

On 16 October 2007 Alaska Department of Environmental Conservation officials reported a toxic spill of methanol (methyl alcohol) at the Prudhoe Bay oil field managed by BP PLC. Nearly 2,000 gallons of mostly methanol, mixed with some crude oil and water, spilled onto a frozen tundra pond as well as a gravel pad from a pipeline. Methanol, which is poisonous to plants and animals, is used to clear ice from the insides of the Arctic-based pipelines.^[47]

Deepwater Horizon drilling rig explosion

On April 20, 2010 a semi-submersible exploratory offshore drilling rig in the Gulf of Mexico exploded after a blowout and sank two days later, taking with it eleven lives and causing a significant oil spill threatening the coast of Louisiana, Mississippi, Alabama, and Florida. The rig, owned by Transocean, Ltd., is leased and operated by BP who is the majority owner of the oil field . The company originally downplayed the size of the leak at about 1,000 barrels a day but later accepted government estimates of a leak of at least 5,000 barrels a day. Seeking to blunt criticism of its emergency response BP indicated on April 30 that it would harness all of its resources to battle the oil spill, spending $7 million a day with its partners to try to contain the disaster.^[48] BP was running the well without a remote-control shut-off switch used in two other major oil-producing nations, Brazil and Norway, as a last-resort protection against underwater spills. The switch would not have made a difference in this incident, however, as other switches were utilized to activate the blowout preventers, including manual operation using ROVs^{[citation needed]}. The use of such devices is not mandated by U.S. regulators and their efficacy remains unclear due to the rarity of major offshore oil-well blowouts.^[49] The U.S. Government gave the responsibility of the incident to BP and will hold it accountable for costs incurred in containing the situation. ^[50]

Controversy

Baku-Tbilisi-Ceyhan pipeline

BP's image has been tarnished somewhat by its involvement with the controversial Baku-Tbilisi-Ceyhan pipeline, criticised for human rights abuses, environmental and safety concerns.^[51]

Colombian pipeline

In July 2006, a group of Colombian farmers won a multi million pound settlement from BP after the British oil and gas company was accused of benefiting from a regime of terror carried out by Colombian government paramilitaries to protect a 450-mile (720 km) pipeline. ^[52]

Mist mountain project

There have been some calls^[who?] for BP to halt its "Mist Mountain" Coalbed Methane Project in the Southern Rocky Mountains of British Columbia. The proposed 500 km² project is directly adjacent to the Waterton-Glacier International Peace Park.^[53]

Canadian oil sands

BP is one of numerous firms who are extracting oil from Canadian oil sands, a process that produces four times as much CO₂ as conventional drilling.^[54] The Cree aboriginal group describe BP as being complicit in 'the biggest environmental crime on the planet' ^[55]. The Cree aboriginal group also describe the oil sands projects some of the great economic influences of the area^{[clarification needed]}.

Environmental record

Solar panel made by BP Solar

In 2005 BP was considering testing carbon sequestration in one of its North Sea oil fields, by pumping carbon dioxide into them (and thereby also increasing yields).^[56] In 2004, BP began marketing low-sulphur diesel fuel for industrial use. BP intends to create a network of hydrogen fuelling stations in the state of California. BP Solar is a leading producer of solar panels since its purchase of Lucas Energy Systems in 1980 and Solarex (as part of its acquisition of Amoco) in 2000. BP Solar had a 20% world market share in photovoltaic panels in 2004 when it had a capacity to produce 90 MW/year of panels. It has over 30 years experience operating in over 160 countries with manufacturing facilities in the U.S., Spain, India and Australia and has more than 2000 employees worldwide. The BP Alternative Energy division has made major investments in solar, wind and hydrogen power. Through a series of acquisitions in the solar power industry BP Solar became the third largest producer of solar panels in the world. It was recently announced that BP has obtained a contract for a pilot project to provide on-site solar power to Wal-mart stores. In the 2006 annual report Lord Browne noted that BP now has a total wind generation capacity of nearly 15,000 megawatts. Based on calculations of consumption rates by the average American household, 15,000 megawatts would be sufficient to provide power to 1,357 typical American households. Note that households relative to industry is a small measure of electric consumption and therefore 15,000 megawatts is only a small portion of the world’s electricity needs. However, this does represent a real commitment to wind power generation and actually makes BP one of the largest generators of wind power in the world.

BP was named by Mother Jones Magazine as one of the "ten worst corporations" in both 2001 and 2005 based on its environmental and human rights records.^[57][58] In 1991 BP was cited as the most polluting company in the US based on EPA toxic release data. BP has been charged with burning polluted gases at its Ohio refinery (for which it was fined $1.7 million), and in July 2000 BP paid a $10 million fine to the EPA for its management of its US refineries.^[59] According to PIRG research, between January 1997 and March 1998, BP was responsible for 104 oil spills.^[60] BP patented the Dracone Barge to aid in oil spill clean-ups across the world. ^[61]

A Gulf gasoline station in Louisville, KY using the previous BP prototype. BP purchased all Gulf stations in the southeastern United States in the 1980's after Chevron, Inc. was forced to divest the stations by the United States Justice Department.

BP/Amoco was a member of the Global Climate Coalition an industry organization 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.".^[62]

In March 2002 Lord Browne of Madingley declared in a speech that global warming 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."^[63]

British Petroleum changed its name to BP in 2000, and introduced a new corporate slogan: “Beyond Petroleum.” It replaced its “Green Shield” logo with the helios symbol, a green and yellow sunflower pattern similar to the emblem of the Green Party of Canada. These changes were intended to highlight the company’s interest in alternative and environmentally friendly fuels. When, in July 2006, BP admitted, only after journalists became aware of the spill, that it was facing criminal charges for allowing 270,000 gallons of crude oil to spread into the Alaskan tundra, critics pointed to the relative lack of press coverage about the spill as evidence that BP had successfully greenwashed its image while maintaining environmentally unsound practices.^[64][65]

BP was one nominee for the 2009 Greenwash Awards, on companies trying to look green and failing.^[66]

As of 11 February 2007 BP announced that they would spend $8 billion over ten years to research alternative methods of fuel, including natural gas, hydrogen, solar, and wind. A $500 million grant to the University of California, Berkeley, Lawrence Berkeley National Laboratory, and the University of Illinois at Urbana-Champaign, to create an Energy Biosciences Institute^[67] has recently come under attack, over concerns about the global impacts of the research and privatisation of public universities.^[68]

BP "Helios" fueling station in Los Angeles

In March 2007, BP unveiled its Helios fuel station on Olympic Boulevard in Los Angeles.^[69] The station has radical architecture for a fuel station, and is a "living lab" for green technologies.^[70] However, although there are solar panels on the roof, as of July 2007 they are not yet operational.^[71]

Contributions to political campaigns

According to the Center for Responsive Politics, BP is the United States' hundredth largest donor to political campaigns, having contributed more than US$5 million since 1990, 72% and 28% of which went to Republican and Democratic recipients, respectively. BP has lobbied to gain exemptions from U.S. corporate law reforms.^[72] Additionally, BP paid the Podesta Group, a Washington, D.C.-based lobbying firm, $160,000 in the first half of 2007 to manage its congressional and government relations.^[73]

In February 2002 BP's chief executive, Lord Browne of Madingley, renounced the practice of corporate campaign contributions, 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."^[74]

BP retail brands

BP gasoline station in Zanesville, Ohio using previous BP prototype.

BP

BP is one of the world's shortest and most valuable brands. The Helios Logo (Helios was the name of the Greek sun god), represents energy in its many forms. The value of the brand is enhanced by the fact that the company owns the two letter internet domain bp.com. The company registered the domain in 1989.

ampm

ampm is a convenience store chain with branches located in several U.S. states including Arizona, California, Nevada, Oregon, Washington, recently in Illinois, Indiana, Georgia and Florida, and in several countries worldwide such as Japan. In the western US, the stores are usually attached to an ARCO gas station; elsewhere, the stores are attached to BP gas stations. BP Connect stations in the US are transitioning to the ampm brand.

ARCO

ARCO is BP's retail brand on the US West Coast in the seven Western States of California, Oregon, Washington, Nevada, Idaho, Arizona, and Utah. BP acquired ARCO (formerly the AtlanticRichfieldCompany) in 2000. ARCO is a popular "cash only" retailer, selling products refined from Alaska North Slope crude at plants at Cherry Point (WA), Los Angeles (CA) and at other contract locations on the West Coast.

BP Travel Centre

BP Travel Centers are large scale destination sites located in Australia which on top of offering the same features of a BP Connect site with fuel and a Wild Bean Cafe, also feature major food-retail tenants such as McDonalds, KFC, Nando's and recently Krispy Kreme, with a large seating capacity food court. There are also facilities for long-haul truck drivers including lounge, showers and washing machines all in the same building. There are 4 travel centers located in South East Queensland, Australia. Two on the Pacific Highway (Coomera and Stapylton) and two on the Bruce Highway (Caboolture). A fifth travel center was opened in 2007 at Chinderah in northern New South Wales.

BP Connect

BP Connect is BP's flagship retail brand name with BP Connect Service stations being operated around the UK, Europe, USA, Australia, New Zealand, Federation of Bosnia and Herzegovina and other parts of the world. BP Connect sites feature the Wild Bean Cafe which offers cafe style coffee made by the staff and a selection of hot food as well as freshly baked muffins and sandwiches. The food offered in Wild Bean Cafe varies from each site. BP Connect sites usually offer table and chair seating and often an Internet kiosk. In the US, the BP Connect concept is gradually being transitioned to the ampm brand and concept. Some BP Connect sites around the UK ran in partnership with Marks & Spencer with the on-site shop being an M&S Simply Food instead of a BP Shop.

BP Express

BP Express was the flagship BP brand prior to the introduction of BP Connect in 2000. There are still some BP Express sites operating around the world but most have been either upgraded to Connect or changed to an alternative brand. BP Express offers a bakery service but doesn't have the selection of food offered in the Wild Bean Cafe and usually coffee is only available through a self service machine.

To Confuse matters: In the Netherlands BP is opening unmanned stations with no shops or employees. these stations are called BP Express.^[75] Some of these stations used to be 'ordinary' BP stations, some are new to the BP network. Apart from these stations BP Express shopping does also exist in the Netherlands.

BP Shop

A BP Petrol prices sign outside a BP Shop garage in the United Kingdom (prices in UK pence per litre).

BP Shop is commonly used on smaller sites mainly independently owned sites. Products vary in each BP Shop but usually a selection of convenience store style food and automotive products.

BP 2go branded petrol station in Australia

BP 2go

BP 2go is a franchise brand used for independently operated sites in New Zealand and is currently being rolled out throughout Australia (Although not all BP 2go stores are franchises in Australia). BP 2go sites mainly operate in towns and outer suburbs in New Zealand. BP 2go offers similar bakery food to BP Connect but in a pre-packaged form. Some BP Express sites around New Zealand and Australia that were considered too small to be upgraded to BP Connect were given the option to change to BP 2go others were downgraded to BP Shop. Staff at some BP 2go sites wear a different style of uniform to the rest of the BP branded sites, however in company owned and operated 2go sites in Australia the same uniform is worn across all sites.

Castrol

Castrol is a brand of motor oil and other lubricants which is entirely a BP brand but tends to retain its separate identity.

Air BP and BP Shipping

Air BP is the aviation fuel arm, BP Marine the marine fuels and lubricants arm and BP Shipping is the Shipping arm within the BP group

BP Shipping provides the logistics to move BP’s oil and gas cargoes to market as well as marine assurance on everything that floats in the BP group 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. 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.

Advertisement

The recent BP advertising campaign has been criticised by many as a superficial and stereotypical representation of the common man. Often the ads showcase a series of "man-on-the-street" type questionnaires with questions pertaining to BP. However, the music composed by BP for the purpose of the ads has been praised and lauded.^{[citation needed]}

BP was also recently awarded a satirical prize, the "Emerald Paintbrush" award, by Greenpeace UK. The "Emerald Paintbrush" award was given to BP in order to highlight its alleged greenwashing campaign. Critics point out that while BP advertises its relatively minimal investment in alternative energy sources, the majority of its investments continue to go into fossil fuels.^[76]

BP is a sponsor of the Scripps Institution CO₂ program to measure carbon dioxide levels in the atmosphere.^[77]

Bibliography

• The history of the British Petroleum Company
  • Vol. I:R.W.Ferrier, The Developing Years 1901-1932, Cambridge University Press, 1982
  • Vol. II: James H. Bamberg, The Anglo-Iranian Years, 1928-1954, Cambridge University Press, 1994
  • Vol. III: James H. Bamberg, British Petroleum and Global Oil, 1951-1975: The Challenge of Nationalism, Cambridge University Press, 2000

For the early history of BP in Iran and Iraq see

Karl E. Meyer and Shareen Brysac. Kingmakers: the Invention of the Modern Middle East. W.W. Norton (2008)ISBN 978-0-393-06199-4

See also

• 2010 Explosion on Deepwater Horizon drilling rig, leased to BP by Transocean Ltd
• 2006 Alaskan oil spill
• Oil fields operated by BP
• Shell-Mex and BP
• Shilling Guides, a series of guide booklets on the counties of Great Britain
• BP Solar
• Hemel Hempstead, BP's IT&S Division
• BP Ford Abu Dhabi World Rally Team

Notes

External links

	London portal
	Companies portal

Wikimedia Commons has media related to: BP

• BP Company Website
• BP's Corporate History
• BP Solar
• BP Whiting Refinery Information
• Company details, list of subsidiaries, and major shareholders
• BP Share Price
• Statistical Review of World Energy