BP P.L.C. Overview
BP p.l.c. is an integrated oil and gas services company, established in the year 1908 with headquarters in London, the U.K .The company mainly operates through three segments such as Upstream, Downstream and Energy Trading. BP p.l.c., predominantly engage in oil and gas exploration, extraction, transportation and trading, manufacturing and marketing fuels products and renewable energy. They are also operating in establishing alternative energy system operations such as wind turbine, bio butanol and bio ethanol. The company manufacturer’s products such as petroleum, natural gas motor fuels aviation fuels and petrochemicals.
BP has operational presence across all six continents and in 72 countries including UK, Hungary, Norway, Russia, India, Australia and China. BP is one of the top seven oil producers in the world and also has around 18,000 fuel retail sites expanded throughout the globe. The subsidiaries of the company include ARCO, Britoil, Pan American Energy, Castrol and Scottish Oils Ltd. BP P.l.c., competes with companies such as John Wood Group PLC., DNV GL, Claxton Engineering, Aker Solutions ASA and Amec Foster Wheeler.
Strategy
BP's goals include concentrating on and enhancing its hydrocarbon business, expanding its convenience and mobility industries, and building a low-carbon energy company with discipline. Through three key areas of concentration, including oil & gas, refining, and bioenergy, the company is generating returns, upgrading its portfolio, and reducing emissions. Company sees chances to utilize their asset portfolios and customer bases as the globe looks for lower carbon fuels, with bioenergy serving as one of the transitional growth engines. To encourage collaboration and unleash value, the company's three business groups are supported by innovation & engineering, solutions & strategy, sustainability & ventures, and trading & shipping. Additionally, four teams—finance, legal, people & culture, and communications & advocacy—serve as enablers of business delivery. The business's finances are solid and stable. The corporation's plan to change from being an international oil company to an integrated energy company is moving along quite well.
