British Petroleum (Bp) Essay examples

1490 Words Dec 3rd, 2012 6 Pages
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
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BP Alternative Energy may be focused on the newest forms of fuel and power, but it draws on the traditional strengths that BP has built up over a century of finding, producing and delivering energy to its customers. BP’s 4Q 2011 Results: BP’s replacement cost profit, on an underlying basis, adjusting for non-operational items and fair value accounting effects, was $5.0 billion for the fourth quarter, compared to $4.4 billion a year earlier. The full year underlying replacement cost profit was $21.7 billion compared to $20.5 billion for 2010. Operating cash flow in 2011 was $22.2 billion, in a $111 oil price environment, up 63 per cent on the total for 2010. At the end of 2011 BP’s net debt stood at $29.0 billion, representing a gearing level of 20.5 per cent. During 2010 and 2011 BP received $19.7 billion in receipts from completed divestments and has agreements in place but not yet completed for an additional $1.8 billion. The company continues to actively manage its worldwide portfolio of business, focusing the company around a distinctive, high-quality upstream portfolio and a world-class set of downstream businesses, BP plans to continue this divestment program to $38 billion by the end of 2013. Exploration and Production: Following BP’s October 2011 turning point, its oil and gas production rose by over five per cent or 170,000 barrels of oil equivalent a day from the third to the fourth quarter of 2011. For the

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