BP plc, sometimes referred to by its former name British Petroleum, is a British multinational oil and gas company headquartered in London, England. It is the sixth-largest energy company by market capitalization, the fifth-largest company in the world measured by 2012 revenues, and the sixth-largest oil and gas company measured by 2012 production. It is one of the six oil and gas “supermajors”. BP is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy activities in biofuels and wind power.
As of December 2013, BP had operations in approximately 80 countries, produced around 3.2 million barrels per day (510,000 m3/d) of oil equivalent, had total proved reserves of 17.9 billion barrels (2.85×109 m3) of oil equivalent, and had around 17,800 service stations. Its largest division is BP America in the United States. In Russia BP owns a 19.75% stake in Rosneft, the world’s largest publicly traded oil and gas company by hydrocarbon reserves and production. BP has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index; it had a market capitalisation of £85.2 billion as of April 2013, the fourth-largest of any company listed on the exchange. It has secondary listings on the Frankfurt Stock Exchange and the New York Stock Exchange.
BP has been directly involved in several major environmental and safety incidents. Among them were the 2005 Texas City Refinery explosion, which caused the death of 15 workers and resulted in a record-setting OSHA fine; Britain’s largest oil spill, the wreck of Torrey Canyon; and the 2006 Prudhoe Bay oil spill, the largest oil spill on Alaska’s North Slope, which resulted in a US$25 million civil penalty, the largest per-barrel penalty at that time for an oil spill.
The 2010 Deepwater Horizon oil spill, the largest accidental release of oil into marine waters in history, resulted in severe environmental, health and economic consequences, and serious legal and public relations repercussions for BP. One-point-eight million gallons of Corexit oil dispersant were used in the cleanup response, becoming the largest application of such chemicals in US history. The company plead guilty to 11 counts of felony manslaughter, two misdemeanors, and one felony count of lying to Congress, and agreed to pay more than $4.5 billion in fines and penalties, the largest criminal resolution in US history. Legal proceedings are continuing, with proceedings set to commence in January 2015 to determine payouts and fines under the Clean Water Act and the Natural Resources Damage Assessment. BP faces damages of up to $17.6 billion in the trial.
BP Donates to Nonprofit Organizations. BP’s donations to nonprofit organizations is praiseworthy, BP offers practically every type of employee giving program and allows the general public to track which organizations are receiving donations online in real time. The company offers a standard 1:1 match on all donations made by employees. BP values and rewards your energy, enthusiasm and the time you spend working with schools, charitable organizations and community groups.
The Employee Matching Fund enables you to choose how you play your part in ensuring that communities benefit from BP’s presence. A maximum of US$5,000 (or equivalent local currency) per calendar year is available to BP employees worldwide. For qualifying activities, an employee decides how to utilize the money across three options — Matching Gifts, Matching Effort and Matching Time.
The Fabric of America Fund was created for the purpose of providing BP America employees with a way to help make a difference in communities across the United States. To be eligible for a contribution, an organization and its activities must be based in the United States.
BP America contributed over $3.3 million to thousands of non-profit groups and causes through the Fabric of America Fund in 2011. The list of organizations supported includes youth teams, animal rescue agencies, the Special Olympics, Ronald McDonald House, the United Way, the American Cancer Society, Shriner’s Hospitals for Children and many more.
The company also provides a 100% match on all money raised by employees for charity runs, walks, etc.
