Bp ( British Petroleum )

1344 Words Aug 17th, 2014 6 Pages
BP (British Petroleum) was founded well over a century ago by William D’Arcy who invested his savings in the hunt for oil in the Middle East. After several years of drilling, D’Arcy’s money and patience were about to run out, when oil was found about 1,200 feet down. This changed the outlook for the company and D’Arcy became a rich man (Thorne, p. 587 2014).
Because of the difficulty in trying to drill for oil in this undeveloped land, by 1914 BP was almost bankrupt again. The company had oil, but no one to sell to. Because of the insistence of Winston Churchill, the oil would be used by the British Navy, which stared the debate over the repercussions of involving politics in the oil industry. This debate has continued through present day wars (Thorne, p. 587 2014).
The twenty first century saw a tremendous growth in the oil industry, as well as a power shift in the Middle East. This directly affected BP because the import taxes of oil were raised by Libyan leader Miammar al-Gaddafi and spread to oil rich Middle East countries. Because of this, BP’s survival was contingent on finding other places to dig for oil. The Forties Field off the coast of Scotland and Prudhoe Bay Alaska were tapped, and became BP’s best sites. It was a challenge for their engineers because transportation of the oil became a problem. Because of this we saw the development of the largest deepwater pipeline ever constructed. BP did extensive test to assure the public that this new pipeline…

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