The Exploration Of The British Petroleum Essay - 1664 Words

Introduction British Petroleum is among the largest producers of oil and gas in the world. Headquartered in London, England it is one of only seven â€Å"supermajors† in the production of petroleum, in fact its performance in 2012 made it the sixth largest producer in its field and by market capitalization. It is also considered a vertically integrated company which operates in all areas of oil production including exploration, refining, distribution, and marketing. It has also recently expanded into biofuels and wind power. [2] A crisis for BP began in the middle of 2010, in the Gulf of Mexico on a British Petroleum project. The Deepwater Horizon Oil Rig exploded, sunk, and began leaking oil into the ocean for 87 days. It was finally capped on July 15th, 2010 after more than one failed attempt. Due to the explosion, eleven people went missing and were never found. This is among the most damaging ocean oil spills in the history of the oil industry, approximately 8% to 31% more volume than the previously recorded leak. The American government concluded that the amount of oil leaked was more than 4.9 million barrels or 210 million US gallons. [3] Stakeholders Employees are essential to most any operations. Organizations that keep their employees knowledgeable on current events transpiring within said organization are much more effective than employees kept in the dark. Employees who feel secure in their jobs are typically much more inclined to be productive than those whom areShow MoreRelatedThe Exploration Of British Petroleum1435 Words   |  6 Pagesi. Cover Page ii. Table of Content iii. Executive Summary iv. Report v. Work Cited â€Æ' Summary British Petroleum is one of the biggest oil and gas organizations around the world. British Petroleum had the rights to investigate the Macondo all around, situated in the Gulf of Mexico in 2009. Events like Deep Water Horizon explosion has also been taken place under the supervision of the British Petroleum company. Because of the absence of regulations, both inward and outward, and in additionally dueRead MoreThe Exploration Of British Petroleum1412 Words   |  6 Pages British Petroleum has a large operation in the United States and it has made investments to ensure that it develops these operations to maximize its production and increase profits. One such investment was the acquisition of the vast oil field at Prudhoe Bay, Alaska. This acquisition represented a good increase in the percentage of oil production in the United States and ensured that the company could increase its production and further its goals and objectives for the United States market. As earlyRead MoreConcep tual Framework And Literature Review Essay1644 Words   |  7 Pagesunder the Nigeria petroleum laws, the federal government appropriates the right over oil and gets all revenues accruing from its production. From this, it follows that the primary responsibility of developing the oil producing communities is that of the government. It should be noted that under the Nigeria’s petroleum laws, the oil companies do not have legal responsibility to develop the oil producing area, but their statutory obligation is to pay a royalty of 19% and a petroleum profit tax of 85%Read MorePetroleum And Energy Industry : Bp1724 Words   |  7 PagesBP is one of the biggest petroleum and energy companies in the world. It has a truly interesting history that stated very early in the 20th century in Persia, when an Australian/British magnate decided to explore the country’s soil in search of petroleum. After the success of such expedition (That at some point almost failed) the company d eveloped a rich market and expanded all through Western Europe, as well as some parts of Asia and Oceania. They also played a crucial role during the wars, by providingRead MoreBritish Petroleum1639 Words   |  7 PagesOil Company which is now known as British Petroleum (BP) was founded in 1909 and is one of the world’s leading international gas and oil companies. The multinational British company’s headquarters is located in London, United Kingdom and is one of the five largest oil companies in the world. The pioneer of the Middle Eastern oil industry, BP discovered oil in Iran before World War I and eventually became involved in all aspects of the oil industry, from exploration to marketing. Offering an arrayRead MoreSwot Analysis of Oil in Nigeria2736 Words   |  11 PagesNigeria Oil and Gas Exploration and Production Industry Investment Opportunities, Analysis and Forecasts of All Active and Planned Exploration Blocks and Oil and Gas Fields to 2012 Description: Nigeria Oil and Gas Exploration and Production Industry Investment Opportunities, Analysis and Forecasts of All Active and Planned Exploration Blocks and Oil and Gas Fields to 2012 Summary This profile is the essential source for top-level industry data and information relating to the Exploration and ProductionRead MoreA liking for science, and a passion towards technology enabled me to choose Earth Science as a600 Words   |  3 Pagesbetter understanding on every day science I took science subjects in my O and A levels. My bachelor degree in Applied Geology led me to acquire a strong background of concepts such as structural Geology, Basics of Geophysics, Exploration Geophysics, Physics of the Earth and Petroleum geology. With extensive research and discussions with my professors and professionals linked with oil and gas industry, I chose Geophysics as my area of interest for my graduation. I was then recruited by BGP InternationalRead MoreEssay about Drilling for Oil in The Gulf of Mexico985 Words   |  4 PagesAmerica has been dependant on oil since the 1800’s and the invention of modern machinery. From skin care products to the gasoline in our cars and engines, petroleum is the basis of almost everything we use for everyday life. Without oil the nation could not meet the energy demands we need to survive. Continued exploration has been the topic of heated debate among supporters and opponents, especially when it comes to offshore drilling. My goal here is to show the differing view points of drillingRead MorePetroleum And Natural Gas Exploration Essay1701 Words   |  7 Pages Executive Summary April 20, 2010 was the beginning of the end for British Petroleum. BP was started in 1901 by William Knox D’Arcy. Their mission is to operate oil and natural gas exploration, while marketing and distributing all over the globe. The primary issues the company faces are rebuilding their business after the tragic oil spill, their low oil prices and internal leadership promotions. Following the 2010 oil spill, all of BP’s top executives were fired, and the company has continuedRead MoreBritish Petroleum: Analysis of the Different Management Leadership Styles1506 Words   |  6 Pagesand Motivation Abstract In this paper, we will analyze British Petroleum which is a well known multinational firm. We will also assess the working culture of Britain which will mainly focus regarding its workforce and then provide some motivational strategies which can be linked with better productivity. Finally we will recommend different management leadership styles that would best fit our chosen firm. Overview British Petroleum is a well renowned multinational oil and gas firm which has