BP plc , formerly British Petroleum , is a British multinational oil and gas company headquartered in London, England. It is one of seven world oil and gas "supermajors," whose performance in 2012 makes it the world's sixth largest oil and gas company, the sixth largest energy company by market capitalization and the world's second largest revenue-earner (turnover). It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trade. It also has renewable energy interests in biofuels and wind power.
As of December 31, 2017, BP operates in 70 countries worldwide, generating approximately 3.6 million barrels per day (570,000 m 3 /d) oil equivalent, and has a total proven reserves of 18.441 billion barrels (2.9319 ÃÆ' - 10 9 m 3 ) of the oil equivalent. The company has about 18,300 service stations worldwide. His biggest division is BP America in the United States. In Russia, BP owns a 19.75% stake in Rosneft, the world's largest oil and gas company that is publicly traded by hydrocarbon reserves and production. BP has a main listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the Frankfurt Stock Exchange and the New York Stock Exchange.
The origins of BP stem from the establishment of the Anglo-Persian Oil Company in 1908, established as a subsidiary of the Burmah Oil Company to exploit the discovery of oil in Iran. In 1935, he became the Anglo-Iranian Oil Company and in 1954 British Petroleum . In 1959, the company expanded beyond the Middle East to Alaska and it was one of the first companies to conduct an oil strike in the North Sea. British Petroleum gained majority control over Standard Oil of Ohio in 1978. Prior to the majority of the state, the British government privatized the company gradually between 1979 and 1987. British Petroleum merged with Amoco in 1998, becoming BP Amoco plc , and acquired ARCO and Burmah Castrol in 2000, becoming BP plc in 2001. From 2003 to 2013, BP is a partner in the TNK-BP joint venture in Russia.
BP has been directly involved in several major environmental and safety incidents. Among them was the 2005 Texas City Refinery explosion, which caused the deaths of 15 workers and produced a good OSHA record; Britain's largest oil spill, Torrey Canyon wreck in 1967; and the 2006 Prudhoe Bay oil spill, the largest oil spill on the North Slope of Alaska, which generated US $ 25 million in civil penalties, the biggest penalty per barrel at the time for the oil spill.
The 2010 Deepwater Horizon oil spill, the largest oil release to sea waters in history, has severe environmental, health and economic consequences, and serious legal and public relations impacts on BP. 1.8 million US gallons (43,000 bbl, 6,800 m 3 ) of the Corexit oil dispersant were used in the cleaning response, becoming the largest application of such chemicals in US history. The company pleaded guilty to 11 counts of murder crime, two minor offenses, one alleged crime lying to Congress, and agreed to pay more than $ 4.5 billion in fines and penalties, the largest criminal resolution in US history. On July 2, 2015, BP and five states announced a $ 18.5 billion settlement to be used for Clean Water fines and various claims.
Video BP
History
1909 to 1954
In May 1908 a group of British geologists discovered a large amount of oil at Masjid-i-Suleiman in Mohammerah, today Khuzestan province in Iran. It was the first significant commercial oil discovery in the Middle East. William Knox D'Arcy, under contract with Emir Mohammerah, Sheikh Khaz'al Khan al-Kaabi, obtained permission to explore oil for the first time in the Middle East, an event that changed the history of the entire region. The discovery of oil led to the development of the petrochemical industry and also the formation of highly oil-dependent industries. On April 14, 1909, Anglo-Persian Oil Company (APOC) was established as a subsidiary of Burma Oil Company. Some of the shares are sold to the public. The first chairman and minority shareholder of the company became Lord Strathcona.
Soon after the founding of the company, the British government asked Percy Cox, a British citizen to Bushehr, to negotiate an agreement with Khaz'al for APOC to gain a place on Abadan Island for refineries, depots, storage tanks, and other operations. The refinery was built and operated in 1912. In 1913, the British government acquired a controlling interest (50,0025%) in the company and on the advice of Winston Churchill, the British navy shifted from coal to oil. In 1914, APOC signed a 30-year contract with British Admiralty to supply oil for the Royal Navy at a fixed price. In 1915, APOC established its shipping subsidiary, British Tanker Company, and in 1916 acquired the British Petroleum Company which is the marketing arm of the German EuropÃÆ'¤ische Petroleum Union in the UK. In 1919, the company became a producer of shale oil by establishing a subsidiary named Scottish Oils which incorporated the remaining oil-scraping industry of Scotland.
After World War I, APOC began to market its products on the Continent and acquired shares in local marketing companies in several European countries. Refineries were built in Llandarcy in Wales (first refinery in England) and Grangemouth in Scotland. The company also acquired a controlling stake in the Courchelettes refinery in France and formed a partnership with the Commonwealth Commonwealth Refinery, which built Australia's first oil refinery in Laverton, Victoria. In 1923, Burmah hired Winston Churchill as a paid consultant to lobby the British government to allow the APOC to have exclusive rights over the Persian oil resources, which were then granted by the Iranian monarchy.
APOC and Armenian businessmen, Calouste Gulbenkian was the driving force behind the creation of the Turkish Petroleum Company (TPC) in 1912 to explore oil in Mesopotamia (now Iraq); and in 1914, APOC held a 50% stake in TPC. In 1925, the TPC received concessions in the Mesopotamian oil resources of the Iraqi government under the British mandate. TPC finally attacked oil in Iraq on October 14, 1927. In 1928, APOC's shareholding in TPC, currently named Iraq Petroleum Company (IPC), decreased to 23.75%; as a result of geopolitical changes after the Ottoman Empire broke up, and the Red Line Agreement. The generally friendly ties between the pro-West Hashemite Monarchy (1932-58) in Iraq and the IPC, though the disputes centered on Iraq's desire for greater engagement and more royalties. During the period 1928-68, IPC monopolized oil exploration within the Red Line; except Saudi Arabia and Bahrain.
In 1927, Burmah Oil and Royal Dutch Shell formed a joint marketing company Burmah-Shell. In 1928, APOC and Shell formed the Consolidated Petroleum Company to be sold and marketed in Cyprus, South Africa and Ceylon, which in 1932 was followed by a joint marketing company Shell-Mex and BP in the UK. In 1937, AIOC and Shell formed a partnership of Shell/D'Arcy Exploration Partners to explore oil in Nigeria. The partnership is equally owned but operated by Shell. He was later replaced by Shell-D'Arcy Petroleum Development Company and Shell-BP Petroleum Development Company (now Shell Petroleum Development Company).
In 1934, APOC and Gulf Oil established Kuwait Oil Company as a jointly owned partnership. The oil concession rights were granted to the company on December 23, 1934 and the company began drilling operations in 1936. In 1935, Rez? Sh? H called on the international community to refer to Persia as 'Iran', which is reflected in the APOC name change to the Anglo-Iranian Oil Company (AIOC).
In 1947, British Petroleum Chemicals was established as a joint venture between AIOC and The Distillers Company. In 1956, the company was renamed British Hydrocarbon Chemicals.
After World War II, nationalist sentiment was on the rise in the Middle East; most notable are Iranian nationalism, and Arab nationalism. In Iran, the AIOC and the pro-Western Iranian government led by Prime Minister Ali Razmara rejected the nationalist call to revise the terms of the AIOC concessions in favor of Iran. In March 1951, Razmara was murdered and Mohammed Mossadeq, a nationalist, was elected a new prime minister by the Iranian Majlis (parliament). In April 1951, the Iranian government nationalized Iran's oil industry unanimously, and the National Iranian Oil Company (NIOC) was formed, replacing AIOC. AIOC withdrew its management from Iran, and the British set up an effective Iran oil embargo around the world. The British government, which has AIOC, opposes nationalization in the International Court of Justice in The Hague, but its complaint is rejected.
Prime Minister Churchill called on President Eisenhower's help to overthrow Mossadeq. The anti-Mossadeq plan is organized under code-name 'Operation Ajax' by CIA, and 'Operation Boot' by SIS (MI6). The CIA and Britain helped to stage a coup in August 1953, Iran's 1953 coup, which formed pro-Western general Fazlollah Zahedi as new prime minister, and deeply reinforced Shah Mohammad Reza Pahlavi's political power. AIOC can return to Iran.
1954 to 1979
In 1954, AIOC became British Petroleum Company. After the 1953 Iranian coup, Iran Oil Participants Ltd. (IOP), a parent company, was established in October 1954 in London to bring Iranian oil back into the international market. British Petroleum is a founding member of this company with 40% stake. IOP operates and manages oil facilities in Iran on behalf of NIOC. Similar to the 1950 Saudi-Aramco "50/50" agreement, the consortium agreed to share profits on a 50-50 basis with Iran, "but not to open its books to the Iranian auditors or to allow Iran into the board of directors."
In 1953, British Petroleum entered the Canadian market through the purchase of a minority stake in the Calgary-based Triad Oil Company, and expanded further into Alaska in 1959, resulting in oil discovery at Prudhoe Bay in 1969. In 1956, its subsidiary, D 'Arcy Exploration Co. (Africa) Ltd. has been awarded four oil concessions in Libya. In 1962, Scottish Oils halted oil shale operations. In 1965, it was the first company to conduct an oil strike in the North Sea. In 1969, BP entered the United States by acquiring East Coast refining and marketing assets of Sinclair Oil Corporation. The Canadian parent company British Petroleum was named BP Canada in 1969; and in 1971, acquired 97.8% of Supertest Petroleum shares.
In the 1960s, British Petroleum had developed a reputation for taking over the most risky business. This generates huge profits for the company; it also gives them the worst security record in the industry. In 1967, the giant oil tanker Torrey Canyon ran aground off the coast of England. More than 32 million US gallons (760,000 bbl, 120,000 m 3 ) crude oil spill over into the Atlantic and to the shores of Cornwall and Brittany, causing the worst oil spill in Britain. The ship is owned by the Bahamas-based Barracuda Tanker Corporation and raises the flag of Liberia, the famous flag of convenience, but is hired by British Petroleum. The ship was bombed by an RAF bomber jet in an effort to break the ship and burn the leaking oil, but it failed to destroy the slippery oil.
In 1967, BP acquired chemical and plastics assets from The Distillers Company combined with British Hydrocarbon Chemicals to form BP Chemicals.
The company's oil assets were nationalized in Libya in 1971, in Kuwait in 1975, and in Nigeria in 1979. In Iraq, the IPC ceased operations after being nationalized by the Ba'athist Iraqi government in June 1972 although officially the Iraqi Oil Company was left in its presence, and one of the associated companies - Abu Dhabi Petroleum Company (ADPC), formerly Petroleum Development (Trucial Coast) Ltd - also continues with indigenous share ownership.
The intensified power struggle between oil companies and host governments in the Middle East, along with the oil price shocks that followed the 1973 oil crisis left British Petroleum losing most of its direct access to crude supplies produced in countries included in the Petroleum Exporting Organization. State (OPEC), and encouraged him to diversify its operations beyond Middle East dependent oil production. In 1976, BP and Shell merged their marketing operations in the United Kingdom by dividing Shell-Mex and BP. In 1978 the company acquired a controlling stake in Standard Oil of Ohio (Sohio).
In Iran, British Petroleum continued to operate until the Islamic Revolution in 1979. Ayatollah Khomeini's new regime nationalized all corporate assets in Iran without compensation, ending its 70-year existence in Iran. As a result, BP lost 40% of its global crude oil supply.
In 1970-1980 BP diversified into the coal, mineral and nutritional businesses that were all subsequently divested.
1979 to 1997
The British government sold 80 million shares of BP at $ 7.58 in 1979 as part of the privatization of the Thatcher era. This sales represented slightly more than 5% of BP's total shares and reduced government ownership of the company to 46%. After the global stock market collapsed on October 19, 1987, Prime Minister Margaret Thatcher began selling additional GBP7.5 billion ($ 12.2 billion) BP shares at 333 pence, representing the remaining 31% of government shares in the company.
In November 1987, the Kuwait Investment Office bought a 10.06% stake in BP, becoming the largest institutional shareholder. Following May, KIO purchased additional shares, bringing their holdings to 21.6%. This raises concerns in BP that operations in the United States, the main operating state of BP, will suffer. In October 1988, the UK Department of Commerce and Industry required KIO to reduce its stake to 9.6% within 12 months.
Peter Walters was chairman of the company from 1981 to 1990. During the period as chairman he reduced the company's refining capacity in Europe. In 1982, downstream assets of BP Canada were sold to Petro Canada. In 1984, Standard Oil of California was renamed to Chevron Corporation; and he bought Gulf Oil - the greatest merger in history at that time. To settle anti-trust rules, Chevron divested many Gulf subsidiary operations, and sold Gulf and refinery stations in the eastern United States to British Petroleum and Cumberland Farms in 1985. In 1987, British Petroleum negotiated the acquisition of Britoil and public shares left over from Standard Oil of Ohio. In the same year listed on the Tokyo Stock Exchange where the shares were traded up to delisting in 2008.
Walters was succeeded by Robert Horton in 1989. Horton undertook a large enterprise-level downgrading exercise that eliminated various levels of management at Headquarters. In 1992, British Petroleum sold its 57% stake in BP Canada (upstream operations), which was renamed Talisman Energy. John Browne, who joined BP in 1966 and promoted to join the board as managing director in 1991, was appointed group chief executive in 1995.
In 1981 British Petroleum entered the solar technology sector by acquiring 50% of Lucas Energy Systems, a company that became Lucas BP Solar Systems, and then BP Solar. The company is a manufacturer and installer of photovoltaic solar cells. It is wholly owned by British Petroleum in the mid-1980s.
British Petroleum entered the Russian market in 1990 and opened its first service station in Moscow in 1996. In 1997, the company acquired 10% stake in Russian oil company Sidanco, which later became part of TNK-BP.
In 1992, the company entered the Azerbaijan market. In 1994, they signed a production sharing agreement for the Azeri-Chirag-Guneshli oil project and in 1995 for the development of the Shah Deniz gas field.
1998 to 2009
Under John Browne, British Petroleum acquired another oil company, turning BP into the world's third largest oil company. British Petroleum joined Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. Most Amoco stations in the United States are converted to BP's corporate brand and identity. In 2000, BP Amoco acquired Arco (Atlantic Richfield Co.) and Burmah Castrol. As part of the merger brand awareness, the company helps Tate Modern Gallery of British Art launches RePresenting Britain 1500-2000 . In 2001, in response to negative pressure on poor UK Petroleum security standards, the company adopted the green sunburst logo and renamed BP ("Beyond Petroleum") plc.
In the early 2000s, BP became a major partner (and later operator) of the Baku-Tbilisi-Ceyhan pipeline project that opened new oil transportation routes from the Caspian region. In 2002, BP acquired a majority of Veba ÃÆ'-l AG, a subsidiary of VEBA AG, and later changed the name of the existing station in Germany to the name Aral. As part of the deal, BP acquired also Veba shares in the joint venture Ruhr ÃÆ'â € l. Ruhr ÃÆ'-l was dissolved in 2016.
On September 1, 2003, BP and a group of Russian billionaires, known as AAR (Alfa-Access-Renova), announced the formation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine. As a result, TNK- ?? already made.
In 2004, BP's olefin and derivatives business was transferred to a separate entity that was sold to Ineos in 2005. In 2007, BP sold its self-service store, commonly known as "BP Connect", to local franchises and jobbers.
On March 23, 2005, 15 workers were killed and more than 170 injured in the explosion of the Texas City Refinery. To save money, a major upgrade to the 1934 refinery has been postponed. Browne promised to prevent another disaster. Three months later, the 'Thunder Horse PDQ', the new BP giant production platform in the Gulf of Mexico, nearly drowned during a storm. In their haste to complete the $ 1 billion platform, the workers put the valve back, allowing the tanks to flood back. Inspection reveals other bad jobs. Costing hundreds of millions of dollars would cost the Thunder Horse a three-year commission.
Lord Browne resigned from BP on May 1, 2007. Head of exploration and production Tony Hayward. become the new chief executive. In 2009, Hayward shifted focus away from Lord Browne's focus on alternative energy, announcing that safety would be the company's "number one priority."
In 2007, BP was formed with AB Sugar and DuPont a joint venture company of Vivergo Fuels who opened a bioethanol plant in Saltend near Hull, England in December 2012. Together with DuPont, BP formed the joint Biobutanol Butamax joint venture by acquiring Biobutanol LLC biobutan technology company in 2009.
In 2009, BP obtained a production contract during the 2009/2010 contract for the Iraqi oil services contract to develop Rumaila land with a CNPC joint venture partner, containing approximately 17 billion barrels (2.7 ÃÆ' - 10 9 m 3 ) oil, accounting for 12% of Iraq's oil reserves estimated at 143.1 billion barrels (22.75 ÃÆ'â € " 10 9 m 3 ). In June 2010, the BP/CNPC consortium took over the development of the field, which was the 1990 Gulf war epicenter.
2010 to present
On October 1, 2010, Bob Dudley replaced Tony Hayward as CEO of the company after the Deepwater Horizon oil spill. After the oil spill BP announced a divestment program to sell non-core assets worth $ 38 billion in 2013 to compensate for its liabilities related to the accident. In July 2010, they sold their natural gas activities in Alberta and British Columbia, Canada, to Apache Corporation. It sells its shares in the fields of PetroperijÃÆ'¡ and BoquerÃÆ'³n in Venezuela and in the fields of Lan Tay and Lan Do, Nam Con Son pipeline and terminal, and Phu My 3 power station in Vietnam to TNK-BP, forecourts and supplying businesses in Namibia, Botswana, Zambia , Tanzania and Malawi to Puma Energy, Wytch Farm landline in Dorset and North Sea gas assets package for Perenco, Canadian natural gas liquor business to Plains All American Pipeline LP, natural gas assets in Kansas to Linn Energy, Carson Refinery in Southern California and the ARCO retail chain for the Tesoro, Sunray, and Hemphill gas processing plants in Texas, together with associated gas collection systems, to Eagle Rock Energy Partners, the Texas City Refinery, and related assets to Marathon Petroleum, the Gulf of Mexico located in Marlin , Dorado, King, Horn Mountain, and Holstein are also shares on land not operated by Diana Hoover and Ram Powell for Plains Exploration & amp; Production, non-operating shares in Draugen oil field to Norske Shell, and UK liquid petroleum gas distribution business to DCC.
In February 2011, BP established a partnership with Reliance Industries, taking a 30% stake in a new Indian joint venture for an initial payment of $ 7.2 billion. In September 2012, BP sold its subsidiary BP Chemicals (Malaysia) Sdn. Bhd., An operator of Kuantan purified terephthalic acid (PTA) factory in Malaysia, to Reliance Industries for $ 230 million. In October 2012, BP sold its stake in TNK-BP to Rosneft with $ 12.3 billion in cash and 18.5% stake in Rosneft. The deal was completed on 21 March 2013. In 2012, BP acquired land in Utica Shale but the development plan was canceled in 2014.
In 2011-2015, BP reduced its alternative energy business. The company announced its departure from the solar energy market in December 2011 by closing the solar power business, BP Solar. In 2012, BP closes the BP Biofuels Highlands project developed since 2008 to make cellulosic ethanol from emerging energy crops such as switchgrass and from biomass. By 2015, BP decides to quit other lignocellulosic ethanol businesses. It sold its stake in Vivergo to Associated British Foods. BP and DuPont also tested their biobutanol pilot plant in Saltend.
In June 2014, BP approved a deal worth about $ 20 billion to supply CNOOC with liquefied natural gas. In 2014, Statoil Fuel & amp; Retail sells its aviation fuel business to BP. To confirm the approval of competition authorities, BP agreed to sell Statoil's former aviation fuel business at Copenhagen airports, Stockholm, Gothenburg and MalmÃÆ'¶ to World Fuel Services in 2015.
In 2016, BP sold its Decatur, Alabama, factory to Indorama Ventures, Thailand. In the same year, a Norwegian subsidiary, BP Norge joined Det Norske Oljeselskap to form Aker BP.
In April 2017, the company reached an agreement to sell the Forties pipeline system in the North Sea to Ineos for $ 250 million. Sales include terminals at Dalmeny and Kinneil, a site in Aberdeen, and the Forties Unity Platform. In 2017, the company floats its subsidiary BP Midstream Partners LP, a pipeline operator in the United States, on the New York Stock Exchange. In Argentina, BP and Bridas Corporation agreed to combine their interests in Pan American Energy and Axion Energy to form a jointly owned Pan American Energy Group.
In 2017, BP announced a planned investment of $ 200 million to acquire a 43% stake in a solar energy developer, Lightsource Renewable Energy, a company that will be renamed Lightsource BP. In March 2017, the company acquired Clean Energy's biomethane business and assets, including its production site and existing supply contracts. In April 2017, a subsidiary of Butamax purchased a Nesika Energy isobutanol production company.
Maps BP
Operation
BP operates in around 70 countries worldwide with global headquarters in London, UK. BP's operations are organized into two main business segments, Hulu and Hilir.
Since 1951, BP annually publishes the World Energy Statistics Review , which is considered the benchmark for the energy industry.
Operations by location
United Kingdom
BP has a large corporate campus at Sunbury-on-Thames which is home to about 3,500 employees and more than 50 business units. The North Sea Operations is headquartered in Aberdeen, Scotland. The trade function of BP is based on 20 Canada Square at Canary Wharf, London. BP has three major research and development centers in the UK.
BP operates more than 40 offshore oil and gas fields, four ground terminals and pipelines carrying about 50% of oil and gas produced in the UK, according to the company. BP has invested more than Ã, Â £ 35 billion in the North Sea since the 1960s, and in 2012 announced its plan to invest Ã, Â £ 10 billion until 2017. The company announced that it is focusing its investment in the North Sea of ​​Britain to four development projects including Clair, Devenick, Schiehallion and Loyal, and Kinnoull oil fields. BP is a Clair oilfield operator, which has been rated as the largest hydrocarbon resource in the UK.
At Saltend near Hull, BP operates a petrochemical plant that produces acetic acid and acetic anhydride used in the production of pharmaceuticals, textiles and other chemical products.
There are 1,200 BP service stations in the UK.
United States
The United States operations comprise almost one-third of BP's business interests, and the United States is the country with the greatest concentration of employees and investments. BP employs about 14,000 people in the United States. By 2017, total BP production in the United States includes 370,000 barrels per day (59,000 m 3 /d) oil and 1.659 billion cubic feet per day (47.0 million cubic feet per day) of natural gas and refineries is 713,000 barrels per day (113,400 m 3 /d).
BP's main subsidiary in the United States is BP America, Inc. based in Houston, Texas, which is the parent company for BP operations in the country. BP Exploration & amp; Production Inc., a subsidiary established in 1996 in Houston, deals with oil exploration and production, including activities in the Gulf of Mexico. BP Corporation North America, Inc., provides petroleum refining services as well as transportation fuels, heat and light energy, and petrochemical products. BP Products North America, Inc., a subsidiary established in 1954 in Houston, is involved in the exploration, development, production, purification and marketing of oil and natural gas. BP America Production Company, a subsidiary based in New Mexico, is involved in the exploration and development of oil and gas. BP Energy Company, a Houston-based subsidiary, is a provider of natural gas, electricity and risk management services for the industrial and utility sector and retail electricity providers in Texas.
BP's upstream activities are divided into three business regions: the Gulf of Mexico within the ocean, the Lower State 48, and Alaska. BP is a leading acreage holder and producer of oil and natural gas in the deep waters of the Gulf of Mexico. In 2017 the company produces about 300,000 barrels per day (48,000 m 3 /d) oil equivalent in the Gulf of Mexico. BP operates the production platforms of Atlantis, Mad Dog, Na Kika, and Thunder Horse while maintaining interest in hubs operated by other companies.
In 2016, the company operates nine North Slope fields in the Prudhoe Bay area, producing 107,900 barrels per day (17,150 m 3 /d). BP is the largest partner with a 50% shareholding in the 800-mile Trans-Alaska Pipeline System (1,300 km).
In 2014, BP moved its onshore unit in the United States to a new business called US 48 Onshore to compete in a burgeoning shale gas industry dominated by small firms. Has material resources of 7.5 billion barrels (1.19 billion billion cubic meters) on 5.7 million hectares (23,000 km 2 ). It has shale positions in Woodford, Oklahoma, Fayetteville, Arkansas, Haynesville, Texas, and Eagle Ford, Texas shale. It has unconventional gas (shale gas or tight gas) stakes also in Colorado, New Mexico and Wyoming, especially in the San Juan Basin.
BP operates the White Refinery in Indiana, the Cherry Point Refinery in Washington, and the Toledo Refinery in Ohio, owned by BP and Husky Energy.
The company has two petrochemical factories in the US. The petrochemical plant in Texas City, located in the same location as that of the previous Texas City Refinery, produces industrial chemicals including propylene and styrene. The Cooper River at BP, the South Carolina petrochemical plant produces PTA, which is used in the production of synthetic fibers for clothing, packaging and optical films.
As of May 2017, BP operates 13 wind farms in seven states in the US, and has an interest in other countries in Hawaii. In 2016, the company produces 4,389 TWD h of wind power.
Other locations
In Egypt, BP produces about 15% of the country's total oil production and 40% of its domestic gas. The Company also has offshore gas development in the Eastern Mediterranean Nile Delta, and in the Western Nile Delta, where the company has a combined investment of US $ 9 billion with RWE to develop two offshore gas fields.
BP is active in offshore oil development in Angola, where it holds interest in a total of nine oil exploration and production blocks covering more than 30,000 square kilometers (12,000 sq./n mi). This includes four blocks it acquired in December 2011 and an additional block operated by Brazilian national oil company Petrobras, which holds a 40% stake.
BP owns a stake in the exploration of two blocks of marine deepwater assets in the South China Sea.
In India, BP owns 30% of the assets of oil and gas operated by Reliance Industries, including exploration and production rights in over 20 offshore oil and gas blocks, representing investments of more than US $ 7 billion into oil and gas exploration in the country.
BP has a major liquefied natural gas activity in Indonesia, where they operate the Tangguh LNG project, which started production in 2009 and has a capacity of 7.6 million tonnes of liquefied natural gas per year. Also in the country, the company has invested in the exploration and development of coal methane.
BP operates in Iraq as part of a Rumaila joint venture in Rumaila oil field, the world's fourth largest oil field, where it generates more than 1 million barrels per day (160 ÃÆ'â € 10 <3 /d> <3 /d) from the oil equivalent in 2011.
BP operates the Kwinana refinery in Western Australia, which can process up to 146,000 barrels per day (23,200 m 3 /d) of crude oil and is the largest oil refinery in the country, supplying fuel to 80% of Western Australia. BP is a non-operating joint venture partner in the North West Shelf, which produces LNG, gas pipes, condensate and oil. The NWS business is Australia's largest resource development and accounts for about a third of Australia's oil and gas production.
BP operates two of the largest oil and gas production projects in the Azerbaijan sector in the Caspian Sea, the Azeri-Chirag-Guneshli offshore oil field, which supplies 80% of the country's oil production, and the Shah Deniz gas field. It also develops the Shafag-Asiman complex from offshore geological structures. In addition, it operates the main Sangachal terminal and export pipeline of Azerbaijan through Georgia such as Baku-Tbilisi-Ceyhan pipeline, Baku-Supsa and South Caucasus.
BP's purification operations on the European continent include Europe's second-largest oil refinery, located in Rotterdam, The Netherlands, which can process up to 377,000 barrels (59,900 m 3 ) of crude per day.
In addition to offshore operations in the North Sea UK zone, BP has interests in the Norwegian part of the sea through its stake in Aker BP. In December 2017, BP holds a 19.75% stake in Russian state-owned oil company Rosneft.
Operations Canada BP is headquartered in Calgary and the company operates mainly in Alberta, Northwest Territories, and Nova Scotia. It purchases crude oil for company refineries in the United States, owns oil sands in Alberta and four offshore blocks in Nova Scotia. The Canadian oil company leasing company includes a joint venture with Husky Energy at Sunrise Energy Project (50%), and Devon Energy at Pike, and a partnership with Value Creation Inc. in the development of the Terre de Grace oil lease. BP's investment in the Sunrise Project is Ã, Â £ 1.6 billion and is expected to begin production in 2014. In May 2017, it was reported that BP is considering selling its oil-sand assets.
BP is the largest oil and gas producer in Trinidad and Tobago, where it has more than 1,350 square kilometers (520 m²) of offshore assets and is the largest shareholder in Atlantic LNG, one of the largest LNG plants in the Western Hemisphere.
In Brazil, BP holds shares in offshore oil and gas exploration in Barreirinhas, CearÃÆ'¡ and Campos basins, in addition to onshore processing facilities. BP also operates a biofuel production facility in Brazil, including three sugar cane factories for ethanol production.
Exploration and production
BP's upstream activities include exploring new oil and natural gas resources, developing access to these resources, and producing, transporting, storing and processing oil and natural gas. Activities in this field of operations take place in 29 countries around the world. In 2017, BP generates about 3.6 million barrels per day (570 ÃÆ'â € " 10 3 x 3 /d) oil equivalent, where 2.26 million barrels per day (359 ÃÆ'â € " 10 < s /d> is fluid and 7.744 billion cubic feet (219.3 million cubic meters) is natural gas, and has a total proven reserves of 18,441 million barrels per day (2,9199 span> 10 < soup> 6 Ã, m 3 /d) of equivalent oil, where liquid reaches 10,672 million barrels per day (1,6967 ÃÆ'â € " 10 span> m 3 /d) and natural gas 45.06 trillion cubic feet (1.276 trillion cubic meters) In addition to exploration and production of conventional oil, BP owns shares in three oil sands projects in Canada despite considering selling its oil sands as sets. Purification and marketing
BP's downstream activities include the refining, marketing, manufacturing, transportation, trade and supply of crude oil, petrochemicals and petroleum products. Downstream responsible for BP's fuels, lubricants and petrochemical businesses and has major operations located in Europe, North America and Asia.
In December 2016, BP owns or owns shares in 11 refineries and 17 petrochemical plants worldwide. The company has sold or converted 16 factories since 2000. The company wants to sell its stake in a petrochemical joint venture in China, its largest investment in the country. * The company's petrochemical plant produces products including PTA, paraxylene, and acetic acid. Petrochemicals are marketed in more than 40 countries.
BP, which employs about 1,800 people in oil trading and trades more than 5 million barrels per day (790 ÃÆ'â € 10
Air BP is a BP aviation division, providing aviation fuel, lubricants & amp; services. It has been operating in more than 50 countries around the world. BP Shipping provides logistics to move BP's oil and gas cargoes to the market, as well as the marine structural guarantee. He manages a large fleet of vessels that are mostly owned for long-term operating leases. BP Shipping's charter teams based in London, Singapore and Chicago also chartered third-party vessels based on time charter and charter basis. The BP-administered fleet consists of Very Large Crude Carriers (VLCCs), a North Sea shuttle tanker, crude product carriers and mid-scale products, LNG carriers, liquefied petroleum gas (LPG) carriers, and coaster. All these ships are double-dipped.
BP markets its oil products in more than 50 countries worldwide. It has about 18,300 service stations. Its flagship retail brand is BP Connect, a network of service stations combined with supermarkets, though in the US it is gradually shifted to the ampm format. In Germany and Luxembourg, BP operates service stations under the Aral brand. On the West Coast of the USA, in the states of California, Oregon, Washington, Nevada, Idaho, Arizona, and Utah, BP operates primarily service stations under the ARCO brand. In Australia BP operates a number of BP Travel Centers, a large-scale destination site located, in addition to the usual facilities at the BP Connect site, also has food retailers such as McDonald's, KFC and Nando's and truckers' long-distance facilities.
Castrol is BP's premier brand for industrial and automotive lubricants and is applied to a wide range of BP oils, greases and similar products for most lubrication applications.
In 2017, BP owns or owns shares in 11 refineries and 15 petrochemical manufacturing plants worldwide.
Alternative and low carbon energy
BP is the first supermajor to expand its focus on energy sources other than fossil fuels. It set up an alternative and low-carbon energy business in 2005, with plans to invest $ 8 billion over a 10-year period to renewable energy sources including solar, wind, and biofuels, and non-renewable sources including natural gas and hydrogen power. According to the company, the company spent a total of $ 8.3 billion in these projects until completion in 2013.
As of May 2017, BP operates 13 wind farms in seven states in the United States, and has another interest in Hawaii. These wind farms include Cedar Creek Wind Farm, Titan Wind Project, Sherbino Wind Farm, Golden Hills Wind Project, and Fowler Ridge Wind Farm. By 2017, the company has a total gross generating capacity of 2.3 GW of wind energy in the United States. In 2016, the company produces 4,389 TWD h of wind power.
In Brazil, BP has two ethanol producers - Companhia Nacional de AÃÆ'§ÃÆ'ºcar e ÃÆ'lcool and Tropical BioEnergia - with three ethanol plants. These factories produce about 800,000 cubic meters per year (5,000,000 bbl/a) equivalent of ethanol. BP has invested in agricultural biotechnology company Chromatin, a company that develops crops that can grow on marginal land and is optimized for use as a feedstock for biofuels, and Vedrezyne, which produces petrochemicals in yeast. His joint venture with DuPont called Butamax, which has developed a patented bio-butanol technology and has a isobutanol plant in Scandia, Kansas, USA. In addition, BP has a biomethane production facility in Canton, Michigan, and Shelby North, Tennesse as well as various facilities under construction in Oklahoma City and Atlanta. BP Air BP subsidiaries supply aviation biofuels at airports of Oslo, Halmstad and Bergen.
Six years after closing BP Solar, BP announced its return to the solar sector with an investment of $ 200 million for Lightsource Renewable Energy (Lightsource BP). Different from BP Solar, Lightsource BP focuses on managing and maintaining solar farms instead of manufacturing solar panels. By 2017, Lightsource has commissioned 1.3 GW of solar capacity and manages about 2 GW of solar capacity. It plans to increase capacity up to 8 GW through projects in the United States, India, Europe and the Middle East.
BP has invested $ 20 million in Israeli fast-charging battery company, StoreDot Ltd.
By 2018, CEO Bob Dudley says that of the company's total expenditure of $ 15 to $ 17 billion per year, about $ 500 million will be invested in low-energy and low-carbon technologies. The relatively small size of BP's alternative energy operations has led to alleged greenwashing by Greenpeace, Ms. Jones and energy analyst and activist Antonia Juhasz, among others.
Company affairs
The chairman of BP's board of directors is Carl-Henric Svanberg and chief executive officer is Robert Dudley. Helge Lund is appointed chairman of the board of directors starting from September 1, 2018.
Stock
BP shares consist of original BP shares and shares acquired through merger with Amoco in 1998 and Atlantic Richfield Company (ARCO) in 2000. Company shares are mainly traded on the London Stock Exchange but also listed on the Frankfurt Stock Exchange. in Germany. In the United States shares are traded in US $ on the New York Stock Exchange in the form of American Depository Shares (ADS). One ADS represents six common shares.
Following the approval of the United States Federal Trade Commission on the incorporation of BP-Amoco in 1998, Amoco shares were removed from Standard & amp; Poor's 500 and join BP's stake on the London Stock Exchange. Mergers with Amoco generated a 40% increase in stock prices in April 1999. However, stocks fell nearly 25% in early 2000, when the Federal Trade Commission objected to the acquisition of ARCO by BP-Amoco. The acquisition was finally approved in April 2000 raising the value of the stock 57 cents over the previous year.
After the Texas City Refinery explosion in 2005, stock prices fell back. In January 2007, the explosion, coupled with a pipe spill in Alaska and production delays in the Gulf of Mexico, kept BP stocks down 4.5% from its position before the Texas City explosion. However, in April 2007, shares had rebounded 13% erasing a 8.3% loss from 2006. The decline in oil prices and concerns over oil sustainability also caused stocks to fall in value by the end of 2008.
The Deepwater Horizon oil spill in April 2010 started a sharp decline in stock prices, and BP shares lost about 50% of its value in 50 million dollars. BP shares hit a low of $ 26.97 per share on June 25, 2010 with a total loss of $ 100 billion in market value before it started up again. The stock hit a post-spill high of $ 49.50 in early 2011.
On March 22, 2013, BP announced the repurchase of shares worth $ 8 billion. The buyback decision follows the closing of the TNK-BP agreement and should offset the dilution of earnings per share after the dividend loss from TNK-BP. Buyback is also seen as a way to invest the excess cash from the TNK-BP deal.
On May 27, 2018, major institutional shareholders included BlackRock Investment Management (UK) Ltd. (3.35% as of May 14, 2018), The Vanguard Group, Inc. (3.12% on May 2, 2018), Investment Management of Bank Norges (2.21% on May 2, 2018) and Law & amp; General Investment Management Ltd. (2.07% as of May 2, 2018).
Branding and public relations
In the first quarter of 2001 the company adopted the BP marketing name, and replaced the "Green Shield" logo with the symbol "Helios", a green and yellow sunflower logo named after the Greek sun god and designed to represent energy in many forms. BP introduced a new corporate slogan - "Beyond Petroleum" along with a $ 200 million advertising and marketing campaign. According to the company, this new slogan represents their focus in meeting the growing demand for fossil fuels, manufacturing and delivering more advanced products, and enabling the transition to a lower carbon footprint.
In 2008, the BP brand campaign has been successful with the top of the 2007 Effie Awards by the American Marketing Association, and consumers are under the impression that BP is one of the world's greenest oil companies. BP was criticized by environmentalists and marketing experts, who claimed that the company's alternative energy activity was only a fraction of the company's business at the time. According to Democracy Now, BP's marketing campaign amounts to a public spin campaign that wipes out greenwashing given that the 2008 BP budget includes more than $ 20 billion for fossil fuel investments and less than $ 1.5 billion for all alternative forms of energy. Oil and energy analyst Antonia Juhasz noted BP's investments in green technology peaked at 4% of the exploration budget before reductions, including the suspension of BP Solar and the closure of its alternative energy headquarters in London. According to Juhasz, "four per cent... barely qualifies the company for Beyond Petroleum", citing "BP BP production mode, whether it is offshore t [or] offshore".
BP achieved a negative public image of a series of industrial accidents that occurred until the 2000s, and its public image was severely damaged after the Deepwater Horizon explosion and Gulf oil spill. Immediately after the spill, BP initially underestimated the harshness of the incident, and made many of the same PR mistakes that Exxon made after the Exxon Valdez disaster. CEO Tony Hayward was criticized for his remarks and has made several mistakes, including stating that he "wants his life back." Some in the media praised BP for some of his social media efforts, such as the use of Twitter and Facebook as well as parts of the company's website where he communicated the effort to clean up the spill.
BP embarked on a re-branding campaign in late 2010, and decided to focus its brand on the idea of ​​"bringing brilliant minds together with technology on a large scale to meet the world's energy needs", and focusing its message on people. In February 2012, BP North America launched a $ 500 million branding campaign to rebuild its brand.
The company's advertising budget is about $ 5 million per week during a four-month spill in the Gulf of Mexico, for a total of nearly $ 100 million.
In May 2012, BP commissioned the press office staff to openly join the discussion on the Wikipedia article talk page and suggest the content to be posted by other editors. The controversy arose in 2013 over the amount of content from BP that has entered this article. Wikipedia co-founder Jimmy Wales stated that, by identifying himself as a member of BP's staff, the relevant contributors have complied with the site's policy of conflict of interest.
Introduction to LGBTQ
In 2014, BP supports global research that examines the challenges for lesbian, gay, bisexual and transgender employees and for ways companies can become "forces for change" for LGBT workers worldwide. In 2015, Reuters wrote that BP "is known for its more liberal policies for gay and transgender workers". A 2016 article at the Houston Chronicle said BP was "among the first major companies in the United States to offer the same protection and benefits to LGBT workers about 20 years ago". BP received a 100 percent mark on the 2018 Human Rights Equality Index, released in 2017. Also in 2017, BP added genital change operations to its benefit list for US employees. According to Human Rights Campaign, BP is one of the few oil and gas companies offering transgender benefits to its employees. BP ranked No. 1. 51 in the list of 100 best entrepreneurs for lesbian, gay, bisexual, and transgender staff on the Stonewall 2017 Workplace Equality Index. Also in 2017, John Mingà © à ©, chairman and president of BP America, signed a letter with other Houston oil executives denouncing the proposed "bathroom bill" in Texas.
Environmental recordings
Position on global warming
In 1997 BP became the first multinational outside the reinsurance industry to openly support the scientific consensus on climate change, which Eileen Caussen, President of the Pew Global Climate Change Center described as a transformative moment in this issue. Prior to 1997, BP was a member of the Global Climate Coalition, an industrial organization established to promote global warming skepticism but retreated in 1997, saying "the time to consider the climate change policy dimension is not when the link between greenhouse gases and climate change is evident convincing, but when the possibility can not be discounted and taken seriously by the community in which we belong, we at BP have reached that point. " In March 2002, Lord John Browne, chief executive of the BP group, said in a speech that global warming is real and urgent action is needed. According to the New York Times article, BP "is at the forefront when it comes to big oil companies being green" due to its investment in renewable energy, and the recognition of the link between fossil fuel consumption and global warming..
Disposal of hazardous substances 1993-1995
In September 1999, BP's subsidiary BP Exploration Alaska (BPXA) pleaded guilty to criminal allegations stemming from the illegal disposal of illegal waste on the North Slope of Alaska, paying a fine of $ 22 million. BP pays a maximum of $ 500,000 in criminal penalties, $ 6.5 million in civil penalties, and establishes a $ 15 million environmental management system at all BP facilities in the US and the Gulf of Mexico engaged in oil exploration, drilling or production. The allegations originated from 1993 to 1995 dumping hazardous waste on Endicott Island, Alaska by BP contractor, Doyon Drilling. The company throws waste oil illegally, dilutes the paint and other toxic and harmful substances by injecting it into the outer rim, or annuli, from the oil wells. BPXA failed to report illegal injections when aware of the behavior, which violates Comprehensive, Compensation and Comprehensive Comprehensive Liability.
Air pollution violations
In 2000, BP Amoco acquired ARCO, an oil group based in Los Angeles. In 2003, the Southern California Coastal Air Quality Management District (AQMD) filed a complaint against BP/ARCO, seeking a $ 319 million fine for thousands of air pollution violations over a period of 8 years. In January 2005, the agency filed a second lawsuit against BP under a violation between August 2002 and October 2004. The lawsuit alleges that BP illegally releases air pollutants for failing to inspect, maintain, repair and operate thousands of equipment throughout the refinery as required by AQMD rules. It is alleged that in some cases the offense was due to negligence, while in other violations it was intentionally and intentionally committed by the refinery official. In 2005 a settlement was reached in which BP agreed to pay $ 25 million in cash fines and $ 6 million in past emission costs, while spending $ 20 million on environmental improvements at the refinery and $ 30 million in community programs focused on diagnosis of asthma and treatment.
In 2013, a total of 474 Galveston County residents living near the Texas City Refinery BP filed a $ 1 billion lawsuit against BP, accusing the company of "deliberately misleading the public about the seriousness" of a two-week toxic poison release that began on November 10, 2011. "BP reportedly released Sulfur Dioxide, Methyl Carpaptan, Dimethyl Disulfide and other toxic chemicals into the "reading report" atmosphere. Further lawsuits claim Galveston county has the worst air quality in the United States due to BP air pollution law violations. BP did not comment and said it would handle the lawsuit in the court system.
Claim for Colombian agricultural land damage
In 2006, a group of Colombian farmers reached a multimillion-dollar settlement out of court with BP due to alleged environmental damage caused by Ocensa pipes. An approved statement says: "The Colombian farmers' group is pleased to say that after a mediation process that took place at BogotÃÆ'¡ in June 2006 on joint initiatives of the parties, a peaceful settlement of disputes with respect to the Ocensa pipe has been achieved, without acceptance of responsibility." it is accused of benefiting from a regime of terror perpetrated by a paramilitary Colombian government to protect the 450 miles (720 km) Ocensa channel; BP says as long as it has acted responsibly and the landowner is sufficiently compensated.
In 2009, another group of 95 Colombian farmers filed a lawsuit against BP, saying the company's Ocensa pipeline caused landslides and soil and groundwater damage, affecting crops, livestock, and polluting water supplies, making fish ponds unsustainable. Most of the land traversed by farmers is illiterate and can not read the environmental impact assessment undertaken by BP before construction, which recognizes the risk of significant and widespread land degradation.
Canadian oil sands
In Canada, BP is involved in the extraction of oil sands, also known as tar sands or bitumen sand. The company uses in-situ drilling technology such as Steam Assisted Gravity Drainage to extract asphalt. Members of US and Canadian oil companies say that the use of recycled groundwater makes in-situ drilling an eco-friendly option when compared to oil-sand mining.
Canada's First Country Member has criticized BP's involvement in the Canadian project for the impact of tar sand extraction on the environment. NASA scientist James Hansen says that the exploitation of Canadian tar sands will mean "the game ends for the climate". In 2010, activist shareholders asked BP to conduct a full investigation of the project, but was defeated. In 2013, shareholders criticized the project for being carbon-intensive.
Violations and accidents
Citing conditions similar to those that resulted in the explosion of the Texas City Refinery in 2005, on April 25, 2006, the Occupational Safety and Health Administration of the US Department of Labor (OSHA) fined BP over $ 2.4 million for unsafe operations at the Oregon refinery company, Ohio. The OSHA inspection produced 32 per-sample deliberate citations including placing people in vulnerable buildings between processing units, failing to correct de-pressure deficiencies and deficiencies with a gas monitor, and failing to prevent the use of unapproved electrical equipment at the site at where a dangerous concentration of gases or vapors may occur. BP was fined further for not developing a blackout procedure and establishing responsibilities and establishing a system to promptly address and finalize recommendations made after the incident when a large feed pump failed three years before 2006. Penalties were also granted for five serious violations, including failure to develop procedures operation for units that remove sulfur compounds; failure to ensure that operating procedures reflect current operating practices in the Isocracker Unit; failure to complete recommendation of process hazard analysis; failure to complete the process of compliance audit items of safety management in a timely manner; and failure to check the pressure piping system on a regular basis.
In 2008, BP and several other major refiners agreed to pay $ 422 million to settle a class action lawsuit stemming from water contamination associated with additional MTBE gasoline, the chemical that was once the main ingredient of gasoline. Leaked from storage tanks, MTBE has been found in several water systems throughout the United States. The plaintiffs argue that the industry knows about environmental hazards but they use them rather than other possible alternatives because it is cheaper. Companies will also be required to pay 70 percent of the cleaning fee for each well that has just been affected at any time during the next 30 years.
BP has one of the worst security records of major oil companies operating in the United States. Between 2007 and 2010, the BP refinery in Ohio and Texas accounted for 97 percent of the "gratuitous, intentional" violations granted by the US Occupational Safety and Health Administration (OSHA). BP had 760 "terrible, intentional" violations during that period, while Sunoco and Conoco-Phillips each had eight, two of which Citgo and Exxon had one. Deputy assistant secretary of labor at OSHA, said "The only thing you can conclude is that BP has a serious and systemic security problem in their company."
A report in ProPublica published in the Washington Post in 2010 found that more than a decade of internal Alaska BP's investigations during the year 2000 alerted senior BP managers that companies repeatedly ignoring safety and environmental regulations and risking serious accidents if they do not change the way they work. ProPublica found that "Collectively, these documents describe companies that systematically ignore their own safety policies throughout North American operations - from Alaska to the Gulf of Mexico to California and Texas.Exercises are not responsible for the failure, and some are promoted though they are. "
The On Government Oversight Project, an independent nonprofit organization in the United States that investigates and seeks to dismantle corruption and other abuses, lists BP as number one on their list of 100 worst companies based on violation examples.
1965 Sea Gem offshore oil drilling disaster
In December 1965, Britain's first oil rig, Sea Gem, reversed when two legs collapsed during the operation to move it to a new location. The oil rig has been rapidly converted in an effort to immediately begin drilling operations after the North Sea is opened for exploration. Thirteen crew members were killed. No hydrocarbons were released in the crash.
Texas City Refinery leaks and leaks
The former Amoco refinery in Texas City, Texas has been hit by environmental problems, including chemical leaks and a 2005 blast that killed 15 people and injured hundreds. Bloomberg News described the incident, which led to BP's plea guilty of the Clean Air Act crime, as "one of the deadliest US industrial accidents in 20 years." The refinery was sold to Marathon Petroleum in October 2012.
2005 blast
In March 2005, the Texas City Refinery, one of the largest oil refineries owned by BP, exploded causing 15 deaths, injuring 180 people and forcing thousands of nearby residents to remain sheltered in their homes. The 20 foot (6.1 m) column filled with hydrocarbons overflows to form a vapor cloud, which is ignited. The explosion caused all the victims and great damage to the rest of the plant. The incident occurred as the culmination of a series of less serious accidents at the refinery, and engineering problems were not handled by management. Maintenance and safety at the plant has been cut as a measure of cost savings, the ultimate responsibility to rest with executives in London.
The impact of the accident blurred BP's corporate image due to mismanagement at the plant. There have been several catastrophic investigations, most recently of the US Agency for Chemical Safety and Hazard, which "offers scathing judgments on companies." OSHA found "organizational and safety shortages at all levels of BP Corporation" and said management failures can be traced from Texas to London. The company pleaded guilty to violations of the Clean Air Act law, was fined $ 50 million, the largest ever judged under the Clean Air Act, and was sentenced to a three-year trial.
On October 30, 2009, the US Occupational Safety and Health Administration (OSHA) fined BP an additional $ 87 million, the largest fine in OSHA history, for failing to correct the documented security hazards in the 2005 explosion.
Source of the article : Wikipedia
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