BRITISH PETROLEUM

British petroleum Case study: New Realities

BP British petroleum Case study: New Realities

Introduction

BP formerly British Petroleum is an international energy company headquartered in London, United Kingdom. In 2009, BP generated worldwide consolidated sales of 239 billion U.S. dollars and employed 80, 300 people. It is vertically-integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has major renewable energy activities, including in bio-fuels, hydrogen, solar and wind power. BP has operations in over 80 countries, produces around 3.8 million barrels of oil equivalent per day and has 22,400 service stations worldwide. (Hanig, 2005, pp.84-88) British Petroleum has paid considerable attention to international activities.

The company has in America's largest manufacture of chemicals and a growing distribution network. It has very significantly its presence in the Pacific, where the economy is rapidly developing countries welcomed the establishment of partnerships in the oil and gas exploration and need of high-tech refinery products. British Petroleum is among the three largest energy companies in the world. Daily BP sells more than 5.8 million barrels of oil, 2.6 million barrels of crude oil and condensate and more than 8.4 billion cubic feet of gas. Annual revenue is more than 262 billion dollars in market capitalization of 224 billion dollars. The company is the owner or operator of 42 thousand kilometers of pipeline, 19 refineries and 28,500 gas stations around the world (in the U.S. are 15,900 gas stations). The company has offices in more than 100 countries, including in Russia, where she arrived in 1997. Worldwide, at enterprises of the company employs about 96 thousand people. Active International expansion is certainly of great interest. The aim of this paper is to study the foreign economic relations of the company, analysis of foreign economic activity (FEA) of the company and the impact of foreign trade on productive activities and financial results. Attention paid in the regional activities of the company (Hanig, 2005, pp.84-88). In this paper, it will present a critically review new realities of the contemporary business environment of British Petroleum. It will also include following important tasks:

New world realities

New business realities

New consumer realities

New communication realities

New World Realities

There is no doubt that there has been a central breakdown in process risk management, commonly used by organizations to establish procedures to manage safely the greatest of uncertainties of its daily operations. This means that if a company is going to drill a mile to get the oil then they should first make certain that all possible scenarios of failure must be identified, evaluated, tested and implemented before that first barrel of oil extracted. Furthermore, protocol of 24 hours should be applied to day to day activities that may be a threat to environmental well being, unforeseeable events involving human error or equipment failure must also be managed. Moreover, inadequate steps should have been put, in place to evaluate worst case scenarios that are impacts associated with catastrophic failures ...