BP plc is a UK-based global oil and gas company. It was founded in the year 1909 and its headquarters are situated in London, England. It operates across Europe, Americas, Australia, Asia and Africa. The company is listed on the London Stock Exchange and also falls under the FTSE 100 index. It is also listed on the New York Stock Exchange and the Frankfurt Stock Exchange. BP is one of the global oil and gas supermajors and it was at the 357th position among the largest publicly traded companies in the world in 2020, as per Forbes Global 2000.
The company operates in various fields, like exploration, production and refining of resources, generation of power, marketing, and distribution. It provides fuel, energy, and petrochemical products worldwide. The company also invests in wind energy, solar energy, biofuels, and other renewable energy sources and technology. It has many subsidiaries like Castrol, ARCO, BP Pulse, Lighsource BP, BP International Limited, BP America Production Company, BP Shipping, and others.
The operations of the company are classified into various segments. The upstream segment is involved in the exploration and production of resources. It is also involved in field development. On the other hand, the downstream segment is involved in manufacturing and marketing of the products, like fuels, lubricants etc. The refining of resources and related business is carried out through the Russian Rosneft segment. In addition to over 13 Russian refineries, this segment also has stakes in refineries in Belarus, Germany, and India.
The company’s goal is to provide renewable and sustainable products and services to people while maximising the risk-adjusted returns for all stakeholders. It aims to become a net zero carbon business by 2050 and create a positive impact on the society and the planet. It uses carbon pricing principles, low carbon investment and works on reducing greenhouse gas emissions. It strives to work towards sustainable business solutions while focusing on financial profitability.
The company has a well-defined corporate governance framework and follows an ethical code of conduct for running its business operations. It promotes a culture of transparency and accountability and prioritises the health and safety of its employees and the society in general. It follows strict policies for board diversity, anti-bribery and corruption, tax evasions, gender equity etc. It is a member of IPIECA and aligns itself with the UN SDGs to improve its social and environmental performance.
BP PLC 1 St. James's Square SW1Y 4PD United Kingdom