About BP Gas
BP PLC is the third largest global energy company, and according to a 2009 Forbes list, the world's fifth largest company. Its headquarters are in London.
The company started in 1909, a year after William Knox D'Arcy discovered oil in Iran. It is involved in the extraction, transportation, processing and sale of oil and oil-related products.
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Background
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After D'Arcy's oil discovery, he founded the Anglo-Persian Oil Company. It became the Anglo-Iranian Oil Company in 1935. AIOC was displaced by a nationalized Iranian company, NIOC, in 1951. When it became an international consortium two years later, AIOC joined.
AIOC became the British Petroleum Company in 1954. The British government privatized BP between 1979 and 1987. BP merged with Amoco in 1998.
Functions
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Oil and natural gas exploration and production:
BP is involved in oil and gas exploration, with a presence in 25 countries. It maintains the Trans Alaska Pipeline, the Forties Pipeline and the Central Area Transmission System. It also has liquid natural gas (LNG) plants in Trinidad, Indonesia and Australia.Oil refining:
BP owns or partially owns 17 refineries, plus four which it operates in partnership with the Russian company TNK.Sales:
BP sells propane, gasoline, aviation, heating and other fuels in three main arenas---business to business, consumer and lubricants. It also sells aromatics and acetyls which are used in the manufacture of products derived from oil (for example, polyester and plastic bottles).Alternative energy:
On its website, BP says it invests $1.5 billion in green energy research annually. It explores solar energy, wind energy and biofuels. -
Brands
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BP maintains six major brands:
BP: This main brand appears on gas stations, refineries, production facilities and offices and alternative energy products.
Aral: A German gas station company with cafes and convenience stores.
Arco: An American gasoline company which joined BP Group in 2000.
Castrol: Part of the group since 2002, Castrol provides engine oils and lubricants and is a sponsor of racing teams.
am/pm: A chain of convenience stores on the USA's West Coast.
Wild Bean Cafe: Convenience cafe, often found inside BP gas stations, currently primarily in Europe, Australia and South Africa.
Problems
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BP does not have a clean environmental or human rights record. Examples of the problems it has caused include:
Leaks: In August 2006, BP shut down its Prudhoe Bay, Alaska, operations. According to National Geographic, pipeline corrosion caused a 267,000-gallon oil spill. Mother Jones magazine named BP to its worst 10 companies list in 2000, and Multinational Monitor included it on theirs in 2005.
The 1999 PIRG report "Green Words, Dirty Deeds" details numerous environmental violations. BP was a nominee for the 2009 Greenwash awards for companies that say they are green when they are not.
Safety: The 2005 Texas City refinery explosion killed 15.
Human Rights: BP's involvement with the Baku-Tbilisi-Ceyhan pipeline drew criticism for human rights and safety issues.
Corporate
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BP's major competitors include Royal Dutch Shell, Exxon and Chevron.
According to its 2008 annual report, revenues are $361.1 billion. As of 2009, the CEO of BP PLC was Tony Hayward. BP's ordinary share ticker is BP.
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