British Petroleume Essay Example | Topics and Well Written Essays - 1250 words

British Petroleume - Essay ExampleIn the unite States, BP expanded its operations through the acquisition of US Standard Oil Company (Longhurst, 23-27). BP has made extensive efforts to make sure that it continues to diversify within the energy markets other than the petroleum products. It also has a 50 % stake in the solar energy company it purchased from Enron, the BP Solarex. The company markets its products to about a hundred contrary countries. Its turnover exceeded over US $ 239 billion in 2009 and it employs a diverse group of over 92,000 individuals.British Petroleum (BP) became Britains largest and the worlds third largest oil exploration company, aft(prenominal) its acquisition of Amoco. BP focuses on the exploration and production of natural gas and oil products. It has achieved economies of scale in various segments of its business and has vertically integrated over the last two decades. The company is involved in refining oil products, market its own products, and h andling the transportation of its products to merchandisers. Moreover, the company also markets the by-products of crude oil produced during the refining process. It is involved in the production of acetyl products, aromatics and certain polyester intermediaries.The exploration business conducts research and locates oil and natural gas sites. once located a cost-benefit analysis determines if drilling is feasible. Once feasibility has been determined, BP engineers work on field development, after which drilling of crude oil commences. Then the crude oil moves to the refining sites. BP performs all these mid-stream and up-stream tasks by itself. alternate energy business segment focuses on developing new technologies. It is successfully catering energy inevitably through production of solar and wind energy. Research on bio-fuel products is also underway and other selection sources of energy are being developed and marketed.A key objective