Wednesday, October 9, 2019
A Study of BP and its Stakeholders in Nigeria Research Paper
A Study of BP and its Stakeholders in Nigeria - Research Paper Example BP has got much different kind of brands under its product portfolio. Each of BP brand has got its own personality and heritage but have one common thing in them which is that all the brands symbolizes, embodies and also provides tremendous energy. Some of the most top ranked brands of BP includes, ARAL one of the trusted brand in Germany; ARCO which tends to bring in low cost fuels and cleaner in the west coast of US; Castrol which is the worldÃ¢â¬â¢s top oil for motors and also a specialist lubricants oil; ampm which is a convenience shop brand and Wild Bean Cafe. BP work includes exploration of oil and gas, extraction, moving those extracted oil and gas, making products and fuels out of the gas and oil and finally sells the products and the fuels. BP in the process of its exploration and extraction generates low carbon energy. It has been investing in new ways to provide energy from wind businesses and innovative solar to advanced bio fuels to energy technologies. BP tends to wo rk in ways which would benefit the society, communities and the habitats. The company strives to become the safety leader in its industry, corporate citizen, world class operator and at the same time great employer. BP is working to enhance the safety measures and risk management and earn back the trust and grow value (BP, 2012). Chapter 2 A Brief Organizational and Historical Background History BP history lies from way back in 1908 and since then B has been largely associated with discoveries whether large or small which have contributed into the progress of the company. From an Anglo Persian oil company BP has managed to become the global Oil and Gas Company. In the year 1917 the Anglo Persian Oil company bought BP which was a subsidiary of German company, in order to get its product to the customers across UK. Thus 1917 marked the brand name of BP. In 1920 BP got its official name and logo which was designed by AR Saunders from the purchasing department. 1932 was marked as an ico nic year for B as it has entered the advertisement world and designed advertisement for BP Plus, BP Ethyl and BP Super. In 1961 after the post war, BP had won Academy Award for a short documentary. 1965 BP started giving service with a smurf. Few years later BP extended its product portfolio and included food for poultry, dogs and fish. It became the largest supplier of animal food in North America. In 1988, BP buys Bristol and it became the first ever company to acknowledge potential risk of global warming in the year 1997. Year 2009 marked 100 years for BP and today BP is applying the same dedication towards its work towards challenges and opportunities in the 21st century (BP-b, 2012). Business Review As per the BP Energy Outlook 2030, the world is in the form of transition into a lower carbon energy mix. Thus BP needs to supply oil and gas to meet the demands. In the year 2011, the company invested $1.6billion in the energy business and the total investment made since 2005 amoun ted to about $6.6 million. BP is trying to meet its commitment and is moving forward. 2012 is said to be a year of milestone with high financial expected in the financial year 2013 and 2014 (BP-a, 2011, p.9).