Risk Management Failures of British Petroleum

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BP is a British global energy company which is the third largest energy company and the fourth largest company in the world. As a multinational oil company, BP is the UK 's largest corporation, with its headquarters in St James 's, City of Westminster, London. BP America 's headquarters is in the One Westlake Park in the Energy Corridor area of Houston, Texas; the company is among the largest private sector energy corporations in the world, and one of the six leaders. In order to project social responsibility and improve its image British Petroleum changed its name into BP in year 2000 with a logo of green and yellow sunflower patterns. Paradoxically the same company symbol is now under derision and the object of controversial attacks…show more content…
On 16 October 2007 Alaska Department of Environmental Conservation officials reported a toxic spill of methanol (methyl alcohol) at the Prudhoe Bay oil field managed by BP PLC. Nearly 2,000 gallons of mostly methanol, mixed with some crude oil and water, spilled onto a frozen tundra pond as well as a gravel pad from a pipeline. Methanol, which is poisonous to plants and animals, is used to clear ice from the insides of the Arctic-based pipelines. From January 2006 to January 2008, three workers were killed at the company 's Texas City, Texas refinery in three separate accidents. In July 2006 a worker was crushed between a pipe stack and mechanical lift, in June 2007, a worker was electrocuted, and in January 2008, a worker was killed by a 500-pound piece of metal that came loose under high pressure and hit him. On April 1 2009, a Bond Offshore Helicopters Eurocopter AS332 Super Puma ferrying workers from BP 's platform in the Miller oilfield in the North Sea off Scotland crashed in good weather killing all 16 on board. On April 20, 2010, a semi-submersible exploratory offshore drilling rig in the Gulf of Mexico exploded after a blowout and sank two days later, killing eleven people and causing a massive oil spill threatening the coast of Louisiana, Mississippi, Alabama, Texas, and Florida. The rig is owned and operated by Transocean Ltd on behalf of BP, which is the majority owner of the oil field. The company originally estimated the size of the leak
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