Vintage photo of BP's head office at Britannic House Skyscraper in London

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A diverse and a capable board – with the experience and expertise to steer the company in today’s complex world. Once the deal completes, BP will hold a 45.1% interest in Clair and ConocoPhillips will retain a 7.5% interest.

They are executing a strategy that your board believes should see bp successfully through the energy transition. Under John Browne, British Petroleum acquired other oil companies, transforming BP into the third largest oil company in the world. British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. [88] [89] Most Amoco stations in the United States were converted to BP's brand and corporate identity. In 2000, BP Amoco acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol. [90] [91] [92] [93] Together with the acquisition of ARCO in 2000, BP became owner of a 33.5% stake in the Olympic Pipeline. Later that year, BP became an operator of the pipeline and increased its stake up to 62.5%. [94] [95] This string of developments will follow from 2017’s seven major project completions and is key to delivering the 900,000 barrels of oil equivalent new production that BP expects from new upstream major projects by 2021. By entering the competition, all entrants will be deemed to have accepted and agreed to be bound by these rules.More than half of the Clair Ridge contracts – 71 out of 122 – have been placed with UK-registered companies. I can also say that the board’s governance and decision-making framework has been further improved through the strong constructive challenge made possible by deep trust. BP's upstream activities in the Lower 48states are conducted through Denver-based BPX Energy. [153] It has a 7.5 billion barrels (1.19billion cubic metres) resource base on 5.7million acres (23,000km 2). [202] It has shale positions in the Woodford, Oklahoma, Haynesville, Texas, and Eagle Ford, Texas shales. [203] [204] It has unconventional gas ( shale gas or tight gas) stakes also in Colorado, New Mexico and Wyoming, primarily in the San Juan Basin. [205] [206] [207]

You need to be taking action right now, today,” said one female protester. “It’s not enough. It’s just not good enough. People are dying because of your operations now. Step up and take responsibility. Stop your drilling. Stop your lies.” Of course, what we didn’t know then was how – or how soon – we would need to exercise that flexibility.But also by the engagement we have with stakeholders outside the company – especially our shareholders. Dr Andy Samuel, Chief Executive at the Oil and Gas Authority said: “First oil from the newly built Clair Ridge platform is a major milestone for the UKCS. The OGA continues to view the West of Shetland as strategically important with substantial remaining potential. The Clair Field has in excess of 7 billion barrels in place and is expected to sustain production for many decades to come, with significant scope for further phases of development. We welcome BP’s ongoing commitment to MER UK.” And I’m grateful for the leadership shown by Bernard and his team in enhancing the safety of bp’s operations – something he will say more about shortly. I also commend every one of bp’s employees – for their resilience and their commitment to the task. We want Uber to be the cleanest platform on Earth because it's the right thing for consumers, our cities and our business. Getting to 100% electric is not something Uber can do alone. It is a team sport, and it will take partnerships like this to reach zero tailpipe emissions, especially as we know availability of easy to access, affordable charging infrastructure is one of the biggest challenges for drivers. “

Oil & Gas UK Chief Executive Deirdre Michie added: “First oil at Clair Ridge represents a major milestone in BP’s developments West of Shetland, the frontier region which is likely to have the greatest potential to expand current UK production. It’s greatly encouraging to see one of the basin’s original explorers using new, ambitious approaches and pioneering technology to help lead a revival in production. This is another firm step towards maximising economic recovery from the basin.” In 1934, APOC and Gulf Oil founded the Kuwait Oil Company as an equally owned partnership. The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936. [41] [42] In 1935, Rezā Shāh requested the international community to refer to Persia as ' Iran', which was reflected in the name change of APOC to the Anglo-Iranian Oil Company (AIOC). [43] In February 2023, BP reported record annual profits, on a replacement cost basis, for the year 2022. On that basis, 2022 profits were more than double than in 2021, and they were also the biggest profits in the whole 114-year long history of BP. [177]Lund also faced growing dissent from BP investors angered by the company’s decision to weaken its climate policies, with almost 10% of shareholders voting against his re-election as chair. That compares with just 3% who voted against him last year. Drivers on Uber’s platform need great value access to the fast, reliable charging infrastructure we’re building as they make the switch to electric. We’re investing billions of dollars worldwide in high-speed EV charging, digital products and services, and large scale bp pulse Gigahubs™ that will help commercial customers eliminate tailpipe emissions.

The start of production of Clair Ridge follows the start-up earlier in 2018 of five other Upstream major projects: Atoll Phase One, offshore Egypt, Shah Deniz 2 gas development in Azerbaijan, TAAS expansion project in Russia, Western Flank B offshore Western Australia and Thunderhorse Northwest Expansion in the Gulf of Mexico. In February 2022, BP announced it acquired a 30% stake in the London-based company, Green Biofuels Ltd, a producer of renewable hydrogenated vegetable oil fuels that can be used as a direct replacement for diesel. [191] United States [ edit ] The headquarters of BP America in Westlake Park, Houston The Thunder Horse PDQ semi-submersible oil platform in the Thunder Horse Oil FieldAnd we knew that even the right choices in one context might need to be adjusted as circumstances change. In 2004, BP's olefins and derivatives business was moved into a separate entity which was sold to Ineos in 2005. [101] [102] In 2007, BP sold its corporate-owned convenience stores, typically known as " BP Connect", to local franchisees and jobbers. [103] What began as a young persons’ movement spread rapidly through our institutions, the business world, and the capital markets. The father of Ali Hussein Jaloud, who died days before the meeting from a form of leukaemia that has been linked to chemicals released by flaring gas, asked BP why it could not use its profits to help save his son’s life. The second heavy lift campaign, in 2016, completed the construction phase with the safe installation of the drilling and production (DP) platform, which comprises five modules – the drilling equipment set module, compression module, drilling support module, drilling platform east module and drilling platform west module.