British Petroleum 1
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