20th, 2010, the BP oil rig in the Gulf of Mexico exploded. This lead to 11 crew members died and caused large-scale oil pollution. The economic loss of ecological environment in Gulf of Mexico would up to several hundred billion dollars. As the main person in charge, BP’s CEO, Tony Hayward, did not timely response to this oil spill event. And his inappropriate remarks and performance was even aroused great dissatisfaction among the people and caused a huge loss of profits of BP. “I'm sorry. We're
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• Ethical issue: Please describe the ethical issue that you have identified. Describe the who, what, where, why, and when. The ethical dilemma facing BP is how to balance profit maximization and at the same time be responsible for the environment and society. Several events have affected BP in recent years but none has challenged the balance between profit and environment responsibility like the Gulf oil spill. This event, recognized as the worst oil spill in the History
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The initial name of BP is the Anglo-Persian Oil Company in 1909; in 1954 it changed to its present name British Petroleum. It is combined and reconstructed by the former British Petroleum, Amoco and ARCO (Atlantic Richfield Company). BP’s business has spread to many fields including oil and natural gas, alternative fuels, the production of petroleum based product, aviation fuels and its business about the solar electric power generation is also growing very fast. Since 1981, BP has set up 12 branch
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BP Case and The Gulf of Mexico Jorge Salazar Hawaii Pacific University MGMT 6000 September 23, 2015 BP Case and The Gulf of Mexico Introduction The BP case concerning the Gulf of Mexico dealt with the second largest company in the world at that time (2010), it was founded in 1908 and it had more than 92,000 employees. Deepwater Horizon had two main components, owned and operated by offshore oil drilling company (Transocean) and it was leased by BP Oil Company. The BP oil spill occurred
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be. The oil flowed into the open ocean for over three months, but it was originally thought that it was going to take even longer to stop. A oil spill of that magnitude could severely damage any environment that it was spilt into. The corporation BP took much heat from the government, along with everyone around the country for causing the leak, and not fixing it quick enough. The fact is, once the leak started as it did, it was a very hard problem for them to stop. My paper will cover three elements
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Deepwater in Deep Trouble When all is said and done, which may not be for many years, it's likely to be one of the worst environmental disasters, if not the worst, in US history.61 When British Petroleum's (BP) Deepwater Horizon off-shore rig in the Gulf of Mexico exploded in a ball of flames on April 20, 2010, killing 11 employees, it set in motion frantic efforts to stop the flow of oil and to initiate the long and arduous cleanup process. Although the impacts of the explosion and oil spill
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formed BP first-tier US subsidiary Amoco shareholders receive BP plc ordinary shares as ADRs Unified global management team US and UK GAAP results presented using merger accounting or on a "pooling of interest" basis US$-denominated group financials and dividends Transaction recommended by both Boards Effective: December 31, 1998 Transaction overview Transaction description UK Holding Company Structure Amoco shareholders exchanged their shares in Amoco for ADRs representing shares in BP Accounting/reporting
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| 1. Based on the history of the company, why did BP get involved in so much questionable conduct? BP's history extends back to 1901 when William D'Arcy's Anglo-Persian Oil Company first drilled for oil in Persia and after seven years of drilling and darcy's nearly spent his net worth finally oil spewed out and became rich. Unfortunately later at 1914 BP was on the verge of bankruptcy due to the very low demand of oil in global market. Accordingly ,BP's Board strategy focused for decades
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Bp also known as British Petroleum “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.” This establishment has over 80 operations under its umbrella ranging from the United States to Australia. Oil companies such as BP constantly try to find the next best way to dig and find oil underneath the surface of the earth. Not only do they have
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that the world depends on daily, and produces them in some of the most operative, proficient, and resourceful ways which are possible today. (BP, n.d.). This company proves to be constantly evolving in the world. They are always innovating and coming up with new ways to operate their business as to cause the most minimal effect or damage on the environment. BP has become one of the most environmentally aware companies of the modern age, especially from what they have gone through in the Gulf of Mexico
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