BP Amoco British Petrochemical Corporation registered on April 14, 1909, as the Anglo-Persian Oil Company, Ltd. It was named the Anglo-Iranian Oil Company, Ltd., in 1935 and changed its name to the British Petroleum Company Limited in 1954. The current name was adopted in 1982. The company’s headquarters are in London. The Anglo-Persian Oil Company was formed in 1909 to take over and finance an oil-field concession granted in 1901 by the Iranian government to an English investor, William Knox
When Robert Horton left his position as Chairman and CEO of BP, the company was in financial trouble and the employee morale was notably low. The company was experiencing losses, the debt-to-equity ratio was out of control, and the company had positioned itself in so many diverse markets that most of the employees had no idea what the company mission and goals were. When David Simon took over as CEO, he was faced with the daunting task of turning the wayward company around. Simon accomplished this
that of the Deepwater Horizon Oil Spill, also known as the BP oil spill, occurring on April 20th, 2010. To clarify, the event is known as the largest marine oil spill in history, killing eleven people, and discharging nearly 5 million barrels of oil into the Gulf of Mexico. Certainly, the crisis spawned a substantial amount of outrage, backlash, and controversy due to the calamitous effects of the incident. Through unambiguous efforts, BP (British Petroleum) attempted to calm the public’s reaction
adapt to that reality. I am of the notion that Mr Akbar and Son have taken up senior management roles in the BP oil company so as to generate commitment from their staff and ensure easy transition for all stakeholders, they may reflexively rely on the skills and strategies that worked for them in the past. Beginning with the assumption that decision makers (Human Resources Management) in the BP company must design an intended system of HR practices they believe will lead to positive organizational outcomes
the Gulf of Mexico exploded on British Petroleum’s (BP) Deepwater Horizon. As a result, of the 126 BP crew members aboard, 11-15 were reported missing. Six days later, underwater robots reveal at least two leaks are dumping 1,000 barrels of oil into the Gulf per day. Consequently, this would become one of the worst oil spills in the history of the United States and perhaps the petroleum industry. This recent Oil Spill portrays one of many dilemmas BP has faced as it scrambles to expand and globalize
Background BP was founded in 1908 under the name Anglo-Persian Oil Company. They changed their name to British Petroleum in 1954 and merged with Amoco in 1998. (BP Public Website, 2010) “The Texas City Refinery is BP’s largest and most complex oil refinery... It was owned and operated by Amoco prior to the merger of BP and Amoco.” (Michael P. Broadribb, 2006) Throughout their history, there have been a number of accidents that have been caused by negligence and disregard of safety precautions
they are not. According to Fortune Magazine, BP Africa is one of the top 500 companies with the greenest products. Fortune magazine claims that BP Oil Company was the first Oil ... ... middle of paper ... ...ill from the public entices the consumers to be happy with being associated with BP. List of References About.com 2011. Green Marketing. Retrieved From: http://sbinfocanada.about.com/od/marketing/g/greenmarketing.htm BP P.l.c, 2011. BP ranked Top Greenest Companies in the World. Retrieved
BP and Oil Lease in the Gulf of Mexico At the four year mark of the Deep Water Horizon accident in the Gulf of Mexico, the Environmental Protection Agency (EPA) allows British Petroleum (BP) to drill for oil in the gulf once again. Many consumer advocate groups, chiefly Public Citizens, have voiced concerns over this decision. The lack of corporate accountability and oversight makes this decision seem unethical to these advocates groups. However, the company agrees to follow the agency’s ethic and
Less than a year ago people were outraged about the huge event that was headlining in the news everywhere. This incident was called the British Petroleum (BP) oil spill, and this spill kept many frightened and waiting for answers on the future. The BP oil spill significantly changed many lives, cost an abundance of money, and occurred because people were being careless on the job and not as aware as they should have been. April 20, 2010 was a day that many remember, but not for a respectable reason
decreased over the last three years and as much as 5%. Despite the decrease, BP is right on track with than the industry average of 22%. Return on asset: 8.8----2007 10.3----2006 10.6----2005 The ROA has decreased over the last three years and is less than the industry average of 13.8. Book value per share: $29.71---2007 $26.02----2006 $23.14----2005 The industry average of $36.26 per share, indicating that BP has less assets to be able to turn into cash.
that BP is paying off coastal colleges to prevent negative publicity, and that the government is not doing enough to protect the environment (Klein 12-17). Klein’s argument that oil was found in the Gulf waters is plausible. Scientists did find “black gunk” in the water that testing confirmed was petroleum hydrocarbons, but no proof exists that it came from BP’s well (Klein 17). It is also true that some of the marine life in the Gulf is dying. However, Hollander ruined his case for blaming BP when
behavior.” BP and Transocean’s need to make multi-billion dollar profits blinded them to the ethical implications. The company culture’s instinct was to benefit them in every situation possible, instead of serving those who work for the company. Tendencies such as ethical fading explain the company’s culture because it helps explain why leaders amongst BP and Transocean did not take any initiative in resolving maintenance issues within the oilrig. Another example of ethical fading in BP was when they
for 87 days, spilling an estimated of 210 million gallons of oil into the Gulf of Mexico. There were numerous hazards involved and identified in the movie Deepwater Horizon. Firstly, Physical hazards. The team from Schlumberger were sent home by the BP managers, Mr Vidrine and Mr Kaluza before they could run a cement bond log test. It can be seen from the movie that the cement log test is seriously important to conduct the pressure
behavior of the company. The Government should take action against BP and its executives because the company is acting unethically trying to evade its responsibilities and the consequences of the disaster. It is illicit to make as much money as one can in a business without a care for the environment. Moreover, BP has not accomplished the ethical values that has announced and its Chief executive has been acting unethically- BP is acting unethically trying to evade its responsibilities and the
and BP Cause Coca-Cola In June 1999 children at six schools in Belgium complained of headache, nausea, vomiting and shivering after drinking Coca-Cola 's beverages, leading to their hospitalization. Most of them reported an unusual smell and taste in the drink. The Belgian Health Ministry ordered for all Coca-Cola products to be banned from the market. Several other European countries followed suit. The entire incident left more than 240 children sick (Coca-Cola 's Belgian Crisis, 2004). BP In April
attention. As British Petroleum (BP) executives could not shut off the crude oil or prevent the damage it caused, people took notice. Millions of dollars in tourism, commerce and sales were lost. Thousands of wildlife acres and ecosystems were also compromised. There were more questions than answers. What BP did to alleviate growing fears made the controversy. They said there were no problems initially, then denied there were problems then they could not fix the problem. BP executives were flabbergasted
a) Introduction: This part of analysis is aimed to illustrate several merits and shortcomings of global accounting standards and discusses whether it should be undertaken or not. Arguments for: On the one hand, the global standards may bring about some merits. For some transnational companies, using this kind of standard may contribute to the decrease of cost, like the cost of producing reports and collecting information, handling the misunderstanding and auditing accounts. Furthermore, by applying
In the early hours of March 24th, 1989 the oil tanker Exxon Valdez struck Bligh Reef in Prince William Sound, Alaska, spilling more than 11 million gallons of crude oil.This accident was devastating for the environment and the eco-systems surrounding the incident. There were many parts leading up to this disaster which made it sound almost inevitable to occur. With it being called a man-made accident because of the captain being intoxicated during the event, it feels like there was more behind the
At British Petroleum our goals are based upon our needs to foster and increase positive perceptions of our organization among employees and their families. We pride ourselves on setting the industry standard for drilling safety and employee retention in a worldwide market, however there is always room for improvement. British Petroleum seeks to bridge the business and workforce aspects of our company into more of a family like community. Our competitors are aware that we operate in a global market
Indian Oil Corporation Limited, or Iocl, is an oil and gas corporation in India, with its headquarters in New Delhi. It is the world's 119th largest public corporation in India. With 49% share in the petroleum products market and 31% share in the refining capacity and 67% downstream sector pipelines capacity the Indian Oil Group of companies owns and operates 10 out of 22 refineries in India with a combined refining capacity of 65.7 million metric tons per year. In 2012 IOCL sold 75.66 million tons