International Business Environment: British Petroleum
Table of Contents
I. Introduction 3
II. BP’s growth and performance over the past decade 4
III. The key factors of BP’s recent performance and development 6
IV. The international business environment impact in the near future
V. References 11
Introduction
British Petroleum is Multinational Enterprise that is headquartered in London,UK and listed on the FTSE 100 Index on the London Stock Exchange . BP is one of the seven biggest oil and gas companies worldwide (Brah,
2012). In 2016, its performance made BP the sixth largest oil and gas company as well as granted it the sixth biggest revenue in the World. British Petroleum employs about 80,000 people in over 70 countries, produces over 3 million barrels of oil on a daily basis, and has over 17 thousand service stations.
As it was mentioned, BP is Multinational Corporation. Therefore, the international political, economic and legal frameworks and environments within which British Petroleum operates play a critical role in its development and survival.
This essay gathers key findings from across the recent literature to promote general understanding of current factors impacting BP. This essay is focused on political, economic, technological and social factors, as
well as their influence on British Petroleum over the past two years, and in the near future.
a. BP’s growth and performance over the past decade.
On 1 May 2007 the BP’s exploration and production director Tony Hayward replaced John Browne as the new chief executive of British Petroleum (Coghlan, 2015).
Unlike Lord Browne, he prioritized not alternative energy, but safety, which he announced to be the British Petroleum’s “number one priority” (Coghlan, 2015). Two years later BP and CNPC (BP’s joint venture partner)
won the Iraqi oil service contracts tender, accessed a contract to Rumaila field developing. The field contained the amount of oil guessed at 17 billion barrels, which was over 12% of Iraq’s oils reserves (nearly 143.1
billion barrels (British Petroleum, 2009). BP …
