...The Unsafe Culture of BP The oil spill in the Gulf of Mexico has been called the worst environmental disaster in U.S. history. The British Petroleum Company (BP) gulf spill started in April of 2010, and was first contained in July of 2010; it took the company 2 months to actually start the process of containing the spill. The Associated Press and The New York Times, reported that a total of 94 to 184 million gallons of oil were unleashed on the shores off the Gulf. This disaster has caused controversial topics to arise as to what the BP company is doing in preventing these disasters or if they are even taking any precaution to that notion. Critics say that BP has had a very bad track record when it comes to safety. It is a risky company that has grown too fast. They have had accidents like the one of BP’s most troubled refineries, which lies, in the State of Texas, which also had its fair share of explosions. BP now faces the largest liabilities in corporate history. All of what BP seems to be doing is shutting their workers mouths with money they cannot refuse but money that has no affect on the company’s profits. BP must change their culture of deadly accidents, disastrous oil spills, and countless safety violations. The Texas BP refinery had an “accident” in 2005 where 15 people died in an explosion and fire, 170 others where injured. Afterwards there were charges that BP management valued profits more than safety. BP acquired the 12,000-acre refinery in 1999 as part of...
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...BP From Wikipedia, the free encyclopedia This is the latest accepted revision, accepted on 2 October 2010.Jump to: navigation, search This article is about the energy corporation. For other uses, see BP (disambiguation). For information on the oil spill from the Deepwater Horizon rig, see Deepwater Horizon oil spill. BP p.l.c. Type Public limited company (LSE: BP, NYSE: BP) Industry Oil and natural gas, alternative fuels Founded 1909 (as the Anglo-Persian Oil Company) 1954 (as the British Petroleum Company) 1998 (merger of British Petroleum and Amoco) Headquarters London, United Kingdom Area served Worldwide Key people Carl-Henric Svanberg (Chairman) Tony Hayward (CEO) Bob Dudley (Director, CEO (appointed)) Byron Grote (CFO)[1] Products BP petroleum and derived products BP service stations Air BP Aviation Fuels Castrol motor oil ARCO gas stations am/pm convenience stores Aral service stations solar panels Revenue US $246.1 billion (2009)[2] Operating income US $26.43 billion (2009)[2] Net income US $16.58 billion (2009)[2] Total assets US $236.0 billion (2009) Total equity US $101.6 billion (2009) Employees 80,300 (Dec 2009)[3] Website BP.com A 1922 BP advertisement.BP p.l.c.[4][5] (LSE: BP, NYSE: BP) is a global oil and gas company headquartered in London, United Kingdom. It is the third largest energy company and the fourth largest company in the world measured by revenues and is one of the six oil and gas "supermajors".[6][7] ...
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...P2 Over time, and as the process of slimming down progressed, there emerged the concept a two pronged Burmah Castrol, consisting of related businesses. One prong was the Castrol business which, throughout all this turmoil, was continuing to develop as a very successful global business with an increasingly powerful brand. The other prong was Chemicals, which it was planned could provide a substantial counter weight for Castrol. From the later 1970s/early 1980s onwards, a portfolio of speciality chemicals businesses was put together, taking some of the businesses inherited from the past as the foundation and adding to them by buying in highquality speciality businesses as additions to the portfolio. The emerging rationale for Burmah Castrol that resulted was that the Group’s business was the sale and marketing of speciality oil and chemical products. The argument was that we were good at managing Castrol and that we would be able to demonstrate to shareholders and the market that we could also very successfully manage chemical businesses whose style and approach to the market would be in certain key respects similar to that followed by Castrol. We also argued that management had skill in spotting both good managers and sound investment opportunities: the combination would enable all the Group’s businesses to prosper and grow. There was sufficient similarity in terms of key factors for success between Castrol and the Chemicals businesses to enable senior management to add value...
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...BP and accident waiting to happen: * Alwin Landry, the 41-year-old Cajun captain of the Damon B. Bankston. Oil transport ship. Using a big hose to load crude oil, uses a crane to move the hose. * Big fire at the oil rig. * Curt Kuchta, the 34-year-old captain of the Horizon. Other ship at the incident. * Anthony Gervasio, the Bankston’s engineer, was in the engine room when he heard what sounded like a “blown tire, times 100,” * Second larger explosion. * Captain Landry was still in the wheelhouse. He had just given the order to disconnect the hose, but now he wasn’t sure he could wait. Once he saw the crew giving thumbs up, he left. * Horizon crew members were abandoning ship — leaping from the main deck, plummeting 70 feet into the sea. * At 10:04 p.m., Landry banged out an e-mail to the BP control room in Houston * The giant rig would burn for two days, listing more and more until finally it tipped and sank. * Some 206 million gallons of oil would pour into the gulf before BP finally stanched the flow * Today the Macondo well, named for a cursed town in a Gabriel García Márquez novel, is sealed and abandoned. It’s a graveyard for 11 men, a dump for what remains of the Deepwater Horizon, and a haunting symbol of excessive faith in the safety of deep water drilling. It’s also an enduring mystery. * It’s not easy to blow up a rig. Too many mistakes both big and small have to be made. * Experts will debate the precise cause...
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...British Petroleum (BP) is a worldwide oil as well as gas establishment whose roots can be traced in British. The company’s headquarters are based in London, United Kingdom. The company has been ranked as the third biggest energy establishment as well as fourth biggest establishment in the world measured by 2011 profits. The company functions in all sectors of the oil as well as gas business ranging from examination in addition to manufacture, purifying, supply in addition to advertising, petrochemicals, power generation as well as exchange. The corporation has as well diversified its core operations to integrate renewable energy actions that bio fuels in addition to wind power. Operating over 80 nation states it’s biggest union remains BP US in where it remains the 2nd biggest manufacturer oil as well as gas in the US. The company be situated both registered with London’s Stock Trade primarily with minor list with New York Stock Exchange. In British Petroleum planning is critical and it helps the company to forecast the future as well as chalk out actions to be taken. Planning can be viewed as a preparatory step that determines when, how as well as who is going to perform a specific job Internal and external factors in management of British Petroleum Company The British Company has several internal factors that can be corrected within these categories that can drive the company to its success; on the other hand they also come with external factors that are further than the company’s...
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...BP OIL SPILL Under the Deepwater Horizon, an offshore drilling ring of British Petroleum (BP) caused an oil spill in the Gulf of Mexico. The incident occurred on April 20th 2010, where equipment failed and caused the explosion sinking the ring, and causing the death of 11 workers and more than 17 workers injured. The British based energy company also faced other problems at the site of the oil spill. More than 40 million gallons (estimated data) of oil spewed into the Gulf of Mexico. Oil spill in the Gulf of Mexico is a very serious threat for the wildlife as it causes water pollution. The oil spill effected many coastal areas in the US, like the Louisiana, Alabama, Mississippi and Florida. The oil spill disaster strongly damaged wildlife cycle in the Gulf of Mexico, and many species were thrown into extinction. Similarly, thousands of businesses were thrown into extinction. Many people has questioned the ethical decisions and core value system that BP used to cut corners with the accident; namely, the race to maximize profits at all costs. We are all aware that one of the main causes that let to the disaster were the result of bad decisions, in which a less expensive option (whether to run a test or use a particular kind casing pipe, for example) would save lives. There has been “zero dollars spent on research concerning how to handle oil spills for off-shore drilling by BP despite the company's NET profits - above and beyond all salaries, bonuses, or overhead costs- of...
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...This paper describes the situation at the United States (US) based company, Global Communications (GC) in the telecommunication industry. Different challenges and opportunities at GC are discussed. The paper continues by discussing the different stakeholders' perspective/ethical dilemmas and continues by framing a problem statement for the Global Communications situation. An expected end state situation is then described for GC scenario. The paper continues by analyzing different alternative solutions to the Global Communications situation , the risk for each solution is described and an optimal solution from a numbers of alternative solutions is selected. An implementation plan for the selection solution for the Global Communications situation is described and a metrics to monitor the plan is presented. This paper concludes by reviewing the selected solution to the situation and discussing the expected result. Issue and Opportunity Identification As a result of competition from cable companies, the United States based company, Global Communication (GC) is losing market share and profitability in the telecommunications market. The traded stock value has dropped from $28 to $11 in a two year period and stockholders are receiving diminishing returns (University of Phoenix, 2006). The stockholders have lost confidence in the management. Management is under pressure to renew stockholders confidence by increasing returns on the stock and the traded stock value. Senior management...
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...William J. McLeod Dr. Etido Akpan BUS 508: Contemporary Business 10 February 2012 British Petroleum (BP) is one of the world's leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. In its global business, the company has several family brands: BP, ARAL, ARCO, Castrol, am/pm and Wild Bean Café. BP's global business is divided into three distinctive organizations to deliver energy products (Upstream, Refinance and Marketing, and BP Alternative Energy). Global Business: Created in September 2010, Upstream consists of three distinct Divisions – Exploration, Developments and Production. Within the Developments Division there are two Technical Functions the Global Wells Organization and the Global Projects Organization. Within the Production Division there are also two Technical Functions Operations and Subsurface. A Strategy and Integration organization led by a fourth Executive Vice President, (including HR, Finance, IT and Technology) and ensures integration across the Divisions and Functions. The downstream business segment converts crude oil into useful products such as fuels, lubricants and petrochemicals. It also stores and distributes these products to where they are needed, and markets them to customers in more than 70 countries. BP’s Refining and Marketing operations are carried out...
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...Business Summary | | BP is also BO (Big Oil). It is the world's third-largest integrated oil concern, behind Exxon Mobil and Royal Dutch Shell. BP explores for oil and gas in 30 countries and has proved reserves of 18.3 billion barrels of oil equivalent. BP is the largest oil and gas producer in the US and a top refiner, with stakes in 16 refineries, processing 4 million barrels of crude oil per day. BP markets its products in more than 80 countries and operates 22,400 gas stations worldwide. The company's reputation took a major hit in 2010 when one of its deepwater rigs, working less than 50 miles south of Louisiana, exploded and killed 11 workers. Millions of gallons of crude gushed into the Gulf of Mexico for months. Following the disaster in the Gulf of Mexico, BP stock lost more than half its value, until recovering a bit in July. The company's dividend has been suspended and the CEO replaced. The company is creating a $20 billion fund over the next three-and-a-half years to cover claims from the Deepwater Horizon catastrophe,and to pay for that and other costs, BP announced it would be selling $30 billion in assets over the next 18 months. The company also took a $32 billion pretax charge against second-quarter earnings to cover potential liabilities.BP p.l.c.was founded in 1889, has headquarters in London, the United Kingdom. The company provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products, operates through two...
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...and ecological impact * Fisheries * Tourism * Individual impacts on states * Louisiana * Florida * Alabama * Unaccounted Oil * Commercial Law Suits * Damages paid * Long term effects * Reference Company Background * Name – British Petroleum * Founded- 1909 as the Anglo-Persian Oil Company 1954 as the British Petroleum Company 1998 merger of British Petroleum and Amoco * Industry – Oil Natural Gas Alternative Fuels Low carbon Energy Alternative Energy * Headquarters – St. James’s , City of Westminster , London (U.K) * Core BP brands * British Petroleum * Castrol...
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...BP is a British global energy company which is the third largest energy company and the fourth largest company in the world. As a multinational oil company, BP is the UK's largest corporation, with its headquarters in St James's, City of Westminster, London. BP America's headquarters is in the One Westlake Park in the Energy Corridor area of Houston, Texas; the company is among the largest private sector energy corporations in the world, and one of the six leaders. In order to project social responsibility and improve its image British Petroleum changed its name into BP in year 2000 with a logo of green and yellow sunflower patterns. Paradoxically the same company symbol is now under derision and the object of controversial attacks from environmentalists and damaging court cases. The company’s predicament further worsened when it was listed as one of the “ten worst corporations” during the year 2001 and 2006. In fact, BP and its competitors Royal Dutch-Shell were considered by activists to be responsible with the threatening phenomenon of climate change. BP was warned before the oil pipeline leak happened in Alaska, but no action was made by the higher officials to mitigate its possible occurrence and reduce damages. In March 2005, BP's Texas City, Texas refinery, one of its largest refineries, exploded causing 15 deaths, injuring 180 people and forcing thousands of nearby residents to remain sheltered in their homes. A large column filled with hydrocarbon overflowed to form...
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...British Petrolum 2012 BP Oil Spill Management Dr…………………………………….. Nahla…………………………… , Nuf………………………. QATAR UNIVERSITY Executive Summary This paper examines the oil spill that took place due to an explosion at one of the drilling rig of British Petroleum on 2010 in the Gulf of Mexico and the managerial response to that crisis. Introduction: History of British Petroleum (BP) According to the British Petroleum's website, the company has started in 1908 with oil found in a rugged part of Persia after a long and hard search. Since then, discoveries large and small have participated in our progress. This is the first phase of BP between 1901 and 1908, the period during which the oil discovery was uncertain. The company has started as the Anglo-Persian Oil Company, which would be called one day BP. The next phase of BP's history was from 1909 to 1924, when the Field of Naphtha was 210 rugged kilometers from the mouth of the Persian Gulf. The Anglo-Persian was building a refinery to turn the thick crude oil into a usable product. Despite its name, the British Petroleum brand was originally created by a German firm as a way of marketing its products in Britain. During the I World war, the British government seized the company’s assets, and the Public Trustee sold them to Anglo-Persian in 1917. The Third phase of BP's history was from 1925 to 1945, when cars flooded onto the streets of Europe and the United States in the 1920s and 30s. BP-labeled gasoline pumps...
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...n this last section of my report I will be focusing on the BP oil spill and the ethical concerns that different communities will face when BP (British Petroleum) are operating near them. To begin with, I will first of all be examining the ethical concerns of the communities in which a selected business operates (P4); the company that I have chosen for this last task is BP.plc. On the 20th of April, 2010, the oil rig known as Deep-water Horizon had a major malfunction which caused a blowout; a blowout being a combination of mud, oil natural gas and water erupting from the well which then would surge up the drill pipe which when it met the surface, caused it to ignite and thus setting of an explosion – causing what happened in the picture below. The oil rig did have blowout preventers but both the manual and automatic blowout preventers failed to deploy; this being due to BOP’s having a history of failing. It has been stated that earlier that year that a couple of blowout valves had ruptured and broken down on reportedly 14 other oil rigs. Although the BOP’s are a 640,000 pound steel plate that is fixture on top of the well mouth, which can use over onemillion pounds of force to block violent emissions, it appears that this is not enough to protect oil rigs from blowouts that will cause devastating damage. As a result of this explosion, not only did 11 employees lose their life during the Deep-water Horizon blowout but it also caused millions of gallons of oil...
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...Since April of 2010, BP Oil Company has been working to repair the damages of an oil rig explosion in the Gulf of Mexico. According to Do Something, an environmental website, have reported the death and injury of 28, more than 8,000 animals dead within six months, and 16,000 miles of coastline pollution (11 Facts about the BP Oil Spill). Many accounts blame this catastrophe on BP’s neglect to properly build and maintain machinery. Several clean up workers and fisherman have been affected due to this oil spill (Reed 35). People living near the coast line has been affected due to polluted air and water. Many children had been sick and they had problem breathing fresh air. BP’s ways of “cutting corners” are a point of interest when considering the factors leading to the Deep-water Horizon Oil Spill. There were several issues with this oil spill: professional issues, ethics and new technology issues, legal, regulatory and political, safety issues, and environmental issues. If BP would have taken care of all these issues there had been no oil spill. According to the official federal report, BP’s management cut corners in many areas, especially during the installation of the drill. While drilling the drill pipe got stuck and the engineering had to redesign the parameters but completely cut corners to drill the fastest way possible, which was the start of BP’s problems. Events leading up to the Deepwater Horizon incident led one to question the values and motives of the British Petroleum...
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...is now known as British Petroleum (BP) was founded in 1909 and is one of the world’s leading international gas and oil companies. The multinational British company’s headquarters is located in London, United Kingdom and is one of the five largest oil companies in the world. The pioneer of the Middle Eastern oil industry, BP discovered oil in Iran before World War I and eventually became involved in all aspects of the oil industry, from exploration to marketing. Offering an array of services that expand from providing fuel for transportation to providing energy for heat and light, BP has become one of the leaders in energy sourcing across the globe. (Company History Index, n.d.) BP is also known for petrochemical products for everyday items and retail services. BP is one of the leaders of the energy industry. The company has high standards and uses the most modern technology in order to deliver long-term value and to meet energy needs. As a global company all activities and interest are held or operated through subsidiaries, associates or joint ventures which are governed by the laws of many jurisdictions. Around the world there are 16,400 BP service stations. (Company History Index, n.d.) Specify the nature, structure and type of products or services of Apple, and Identify two (2) key factors in the organization’s external environment that can affect its success. Provide explanation to support the rationale. British Petroleum (BP) is one of the world’s leading international...
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