Overview of Company MGT 301[1]

Overview of Company MGT 301[1] - British Petroleum 1...

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British Petroleum 1 British Petroleum British Petroleum is the third largest global energy company, it is the fifth largest company in the world, and it is also the largest company in the United Kingdom. British Petroleum’s headquarters is located in St. James’s, City of Westminster, London. The company was founded by William Knox D'Arcy, an Englishman, in 1909. Mr. D’Arcy had been searching in favor of oil for at least 8 years prior. William Knox D’Arcy ventured to Persia (Iran) in search for oil and found it almost by accident because two week prior, their drill bit had fallen in one of its two last chance wells. That morning May 26, 1908 the air was reeking of sulfur. The company was then registered under the name of Anglo – Persia. The name remained Anglo – Persia for 60 years and its main focus had been the Middle East. After the First World War, Anglo – Persia expanded to Canada, South America, Africa, Papua and Europe. In 1935, the company was then renamed the Anglo – Iranian Oil Company. In 1951, Iran decided to nationalize its assets which hurt the UK because at the time Anglo – Iranian Oil Company was UK’s largest investment overseas. To counteract, the company decided to acquire other countries such as Kuwait, Libya and Iraq. In 1954, the company was renamed British Petroleum Company. In 2008, number of British Petroleum maintained 24,292 a total of 13,738 oil wells and 24,292 natural gas wells. In 2008, British Petroleum the revenue of the company amounted to $365,700,000,000. The net profit before interest and tax was $35,239,000,000. The net profit for the year was $21,666,000,000. Most of BP’s revenue comes from oil which makes up 35% of the market, coal which makes up 28% of the market, and natural gas which makes up 23% of the market. The employment for 2008 came to a healthy number of 92,000 employees in over 100 countries. British Petroleum is a great company to work for. With different people and common goals
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British Petroleum 2 British Petroleum offers a workforce full of diversity and equality. They maintain high sets of standards which make up their values which are “dignity, integrity, honest dealing, striving for a mutual advantage, transparency and contributing to human progress”. (BP.com) BP strives to maintain a healthy work environment while contributing to shareholders wealth. British Petroleum is a global company and can be found in many different countries such as: Africa, Asia & Middle East, Australia, Europe, North America, and South America. As of April 2009, BP operates in 29 different countries including Mexico, Russia and Algeria, Africa and other areas in the Middle East. The capital expenditures and acquisition for 2008 in U.S. countries were $1,390,000,000 and $449,000,000 for non-U.S. countries. The sales and operating
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This note was uploaded on 03/24/2010 for the course MGT 301 taught by Professor Atkison,s during the Spring '08 term at N. Arizona.

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Overview of Company MGT 301[1] - British Petroleum 1...

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