BUSINESS ETHICS - BP (ENERGY COMPANY)

BUSINESS ETHICS - BP (ENERGY COMPANY)

Table of Contents

Introduction3

Business Operations3

Refining and Marketing3

Air BP4

BP Shipping4

Castrol4

Service stations4

Ethical Stance of BP5

Social and Corporate Responsibilities6

Ethical Evaluation and Sustainability7

Conclusion8

References9

BRITISH PETROLEUMS

Introduction

British Petroleum (BP) is a global oil and gas production company with its headquarters in London and operations spread round the globe in over six continents covering over 100 different countries. BP has transformed from a growing local oil company into a global energy group, which has over 80,000 employees at present. BP is one of the world's leading oil companies based on market capitalization and proven reserves.

The main businesses of BP are energy production, refining and marketing, and chemicals. while chemicals activities includes the manufacturing and marketing of petrochemicals. (About BP - How we run the business, 2011)

Business Operations

BP's exploration and production division can be divided into many sections described below:

Refining and Marketing

The refining and marketing activity focuses on oil supply and trading of the products. It also focuses on refining, marketing and transportation of oil, gas and other petroleum products.

Air BP

Air BP is the aviation division providing fuel, lubricants and services. Air BP is operating in about 50 different countries across the globe.

BP Shipping

BP Shipping provides the logistics to transport BP's oil and gas cargoes to and fro the market. It also manages a large fleet of vessels, which are held on long-term operating leases.

Castrol

BP, under the name of Castrol, offers motor oil and other lubricants. Although it is a separateBP brand, but tends to operate its separate identity.

Service stations

BP also has many service stations including Am/Pm, Aral, and ARCO. (About BP - How we run the business, 2011)

Ethical Stance of BP

The mission and vision statements of BP are based on code of conduct, which clearly symbolize the importance BP gives to its ethical stance. However, there have been many issues regarding the ethical responsibility of BP. Being an Oil company, BP has to be very careful in its ethical stance and portray the best of conduct possible. BP personnel are expected to demonstrate high ethical standards and actions in accordance with their code of conduct. The code of conduct regarding the ethical stance covers five key areas of BP's business operations, which includes:

1) Rules and guidance around health, security, safety, and the environment;

2) Fair and just treatment for its employees ensuring equal opportunities for all;

3) Guidance regarding how to ethically work with business partners; ...