Oil And Gas Companies : Bp

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BP, originally known as British Petroleum, which was founded in 1889, is part of the world’s seven largest publicly traded oil and gas companies. According to BP’s recent annual report BP states that they provide their customers with “fuel for transportation, energy for heat and light, lubricants for engines, and petrochemical items used to make items for everyday use such as paints, clothes, and packaging.” The current CEO of BP, Bob Dudley, has a focus on turning the company around into a safer, stronger, and more simple business. Its headquarters are in London, England but the company is present worldwide and operates in three segments: Upstream, Downstream, and Rosneft. BP’s Business Segments Upstream is the segment focused on oil and natural gas exploration, field development and production, midstream transportation, storage and processing, the marketing and trade of natural gas and oil. Five functions come into play to have this segment work in 25 countries, as of 2015. According to BP’s 2015 Annual Report the exploration function is responsible for renewing BP’s resources through access, exploration, and appraisal. The reservoir development is responsible for the protection of BP’s resource portfolio for each field they own. The global wells organization and global projects are responsible for drilling and completion of major projects. The global operations organization is responsible for operations such as processing activities, and upstream production assets.
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