Quick Look: British Petroleum at a Glimpse
- A British Multinational Oil And Gas Company
- BP’s Net Worth (Market Cap): $131.44 billion (As of June 30, 2013)
- Industry: Oil and Gas
- Founder: William Knox D’Arcy
- CEO: Bob Dudley
- Established: 1909 as Anglo-Persian Oil Company
- Country: United Kingdom
- Headquarters: London, England
- Ranking: It ranks 18th in the Forbes list of world’s biggest public companies.
British Petroleum’s Net Worth
British Petroleum (BP) is a multinational oil and gas company, with its headquarters located in England. As of June 30, 2013, its net worth (market cap) is estimated to be $131.44 billion. This company deals and operates in all aspects of the oil and gas industry, which includes petrochemicals, production, power generation, refining, trading, distribution, and marketing. It possesses 19.75% stake in Rosneft, the Russian oil major. Along with listed on the London Stock Exchange, BP is also a part of the FTSE 100 Index.
The British Petroleum was founded in April 1909 as Anglo-Persian Oil Company, which, in 1935, was renamed as Anglo-Iranian Oil Company. In 1954, it was named as the British Petroleum Company.
In December 1998, BP merged with Amoco and was named BP Amoco plc. It acquired Burmah Castrol and Arco (Atlantic Richfield Co.) in the year 2000. After the Deepwater Horizon Oil Spill in 2010, Bob Dudley replaced Tony Hayward as the Chief Executive Officer of the company. It had to sell about $38 billion non -core assets to compensate the damage, caused by the oil spill. Due to this, BP had fallen to the fourth largest oil company from second, by 2013.
BP operates in more than 80 countries globally, which includes UK, Ireland, USA, Africa, Australia, and Asia. Its operations are organized into 2 business segments- Downstream and Upstream.
Its ‘Downstream’ activities involve supply, trading, transportation, manufacturing, marketing and refining of petroleum products, petrochemicals, and crude oil.
Its ‘Upstream’ activities involve exploring and developing access to new natural gas and oil resources. It also includes producing, processing, storing and transporting natural and oil gas.
Corporate Affairs of BP
The company’s shares are listed mainly on London Stock Exchange. The deepwater horizon oil spill resulted in a loss of almost 50% of the value of its shares. In 2012, 38% of the shares of BP were held by American investors and 35% by British investors. Major shareholders include Blackrock Investment Management (UK) Ltd., Capital Research & Management Co., and Legal & General Investment Management Ltd.
Political Contributions of BP
Since 1989, it has contributed almost $6.6 million towards political campaigns and became the 136th largest donor. During the elections of 2008, BP contributed millions, and Barak Obama received the highest amount of money.
BP spent $16 million lobbying the United States Congress party in the year 2009, and in 2011; it spent almost $8.43 million on lobbying the party.