Introduction
British petroleum is a multinational oil and gas company that is associated with Britain. It was
directed by the explorer George Reynolds. It was directed under the allowance granted to
William Knox D’Arcy by the Shah of Iran.
Size
British Petroleum plc is one of the largest companies that include the gas, energy, and oil
industry globally. Its roots are in the Anglo Persian company that was founded in 1909. British
Petroleum was founded as the sixth-largest gas and Oil Company globally which is based on its
market value. It has reported 278.4 billion revenue in the United States dollar. It has been
mentioned in the top ten companies in the industry of oil and gas. It employs 70,200 people in all
its branches worldwide. It is one of the biggest international energy companies. Investors of the
United States could purchase the American Depositary shares that are based on the stock
exchange. Investors own 11% of the total income of the company (Abdelrehim, et al., 2017).
History
British Petroleum Company was known as Anglo- Persian Oil Company from 1909 to 1935. It
was known as the Anglo-Iranian Oil Company from 1935 to 1954. It was known as British
Petroleum Company limited from 1954 to 1982. It was known as the British Petroleum Company
PLC from 1982 to 1998. It is called BP Amoco from 1998 to 2000. It has become one of the
largest oil companies after the merger with Amoco Corporation in 1998. It has its headquarters in
London. In Persia, It was discovered through the discovery of oil in 1908. It has been scheduled
about the story of transitions. It has associated with different perspectives such as coal to oil, oil
to gas, onto dry land to deep water. It has been consumed with the original mix of energy sources
(Abdelrehim, et al., 2017).
Competitors
British Petroleum PLC's competitors are SABI, ENGIE, Chevron, OMV Group, SHV Energy,
Shell, Total, devon, and Oxy.
Saudi Basic Industries Corporation is one of the manufacturing companies that are specialized in
different aspects of chemicals. It was founded in 1976. It employs 33,000 employees.
Chevron is one of the companies that supply technology and aspects of energy. It was founded in
1879. Its total revenue is $105.8B.
What is it known for?
British Petroleum is known for its values and qualitative services. It has five aspects of values
that are followed in every perspective. It cares about the safe environment of the organization. It
is committed to providing energy services to the world safely. It is supposed to give respect to
each member. It has complained about the regulations and laws. It behaves in a positive way to
earn trust. They are excellent about the services provided in their operations. It is known for its
strong team management. Its code of conduct is to guide the right things as well as explanation to
make effective decisions.
What does it do?
British petroleum provides light, mobility, and heat to all the candidates globally. Its main aim is
to reexamine the energy for the ambition; people and planet to become a net-zero company in
upcoming years ( Doherty, et al., 2020). It is associated with the petroleum industry. It has been
integrated into different areas of the gas and oil industry. It includes the process of production,
exploration, distribution, refining, power generating, and marketing. It involves renewable
energy awareness in the smart grid as well as solar technology.
References
Doherty, N. A., & Smith, C. (2020). Corporate insurance strategy: the case of British
petroleum. Journal of Applied Corporate Finance, 32(1), 48-57.
Abdelrehim, N., Maltby, J., & Toms, S. (2015). Narrative reporting and crises: British Petroleum
and Shell, 1950–1958. Accounting History, 20(2), 138-157.
Abdelrehim, N., & Toms, S. (2017). The obsolescing bargain model and oil: the Anglo-Iranian
Oil Company 1933–1951. Business History, 59(4), 554-571.