Bp. British Petroleum ( Bp )

2201 Words May 3rd, 2016 9 Pages
As we have covered, the oil industry can be volatile and risky, but it can also be extremely lucrative if the company is successful. We decided to focus on BP.

British Petroleum (BP) is the UK’s largest corporation and is one of the largest private-sector energy corporations in the world. It is the third largest energy company and the fourth largest company in the world. It is one of the seven gas super majors. It operates in over 80 countries, and in 2010 their production was approximately 3.4 million barrels of oil each day. The company is headquartered in London.

BP is active in the fields of exploration, production, refining, distribution, marketing, petrochemical, power generation and trading. BP also owns a 19.7% stake in the Russian company Rosneft. Their origins can be traced back to 1901.

In 1901, William D’Arcy received a concession from Persia to drill for mineral resources. This was called the Green Document. After finally striking oil in 1908, the company was then

named the Anglo-Persian Oil Company. The future was bright and the company became very profitable.

D’Arcy’s contract gave him ownership of whatever oil he found in Iran and would only require him to pay the Iranian government 16% of any profits made. In effect, after the 1908 strike, he became the sole owner of the oil wealth beneath Iran’s soil. No other company was allowed access to drill, refine, extract, or sell Iranian oil. The company 's first big break then came when Winston Churchill…

More about Bp. British Petroleum ( Bp )

Open Document