10K Report for BP U.S.
BP is one of the world’s leading integrated oil and gas companies. Its production portfolio includes: fuel, energy, lubricants and petrochemicals. Company operates worldwide within two segments: upstream and downstream. Upstream segment covers exploration, development and production activities. According to the U.S. Economic Impact Report 2015, the upstream segment in the U.S. is represented by 4 production platforms, 1050 wells, 5.5 million of acres of BP’s Lower 48 onshore business spans, and 7.100 BP- and ARCO-branded retail sites (the end of 2014). Downstream segment, which operates hydrocarbon value chains within three main business directions - fuels, lubricants and petrochemicals is represented by 3 refineries, 16 wind farms in nine states, as well as 3 petrochemical sites.
As stated in BP’s Annual Report for 2014, the company’s goal is focused on holding its positions and further development as a successful oil and gas company that delivers value over volume. It aims to run safe and reliable business resulting in good operational efficiency and safety of its employees and operations. Company’s activities are oriented at effective project implementation within budget and time limits. In order to keep to its strategic goals, company focuses on high-value upstream assets in deep water, giant fields and selected gas value chains. In downstream segment BP U.S. focuses on newly upgraded assets, trust relationships with customers and investigation of technologies to grow operation cash flow. Company actively monitors its investments in order to focus on value driven positions.
BP has been contributing to U.S. economy and its energy security for the last 150 years and this country has become one of the core locations for BP’s global business. According to the Yahoo Finance, its biggest competitors worldwide as well as in the U.S. are: Exxon Mobil Corporation, Royal Dutch Shell and Chevron Corporation. As stated in U.S. Economic Impact Report 2015, the BP has been investing considerable amounts in the U.S. economy for the last 10 years. Since 2005 it has invested more than $90 billion in the oil and gas market of U.S., as well as in renewables and technologies for ensuring their safe production. d. Competitive Strengths/WeaknessesBP is among leaders of North America’s marketers of natural gas. According to U.S. Economic Impact Report, BP produces enough natural gas in the U.S. and Canada to cover the combined daily needs of France, Germany, Spain and the United Kingdom. In addition it has been the single biggest investor in the Deepwater gulf for the last 10 years. Company is constantly working on expansion of its business. It has launched partnership with Chevron and ConocoPhillips in order to explore new resources. BP constantly develops new technologies for ensuring safe and efficient operation. It has the world’s largest supercomputer for commercial research based in Houston. Except that BP has been the first company authorized to conduct commercial drone operations over land in the U.S. At the same …