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BP |
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BPOne of the world's largest oil concerns, with more than 96,000 employees and operating in more than 100 countries. Formed as the Anglo-Persian Oil Company in 1908, it acquired the chemical interests of the Distillers Company in 1967 and merged with US oil company Amoco in 1998. The company operates petrol stations, provides gas for fuel and heating, and markets alternative energy sources such as solar power. In 1917 British Petroleum was established as a marketing subsidiary of the Anglo-Persian Oil Company (from 1935 the Anglo-Iranian Oil Company), and the latter was renamed the British Petroleum Company in 1954. In a move to a wider, more global market, the company officially adopted the name ‘BP’ in 2000. BP
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| And, a campaign by Hermes, a British pension fund, did successfully persuade BP plc to swap assets out of a politically repressive state, Myanmar. BP plc had abruptly halted production at the Prudhoe Bay oil field in Alaska, which produces about 400,000 barrels a day, after the company discovered corrosion in the pipelines. BP plc has agreed to sell its Innovene subsidiary to Ineos, also of the U. |
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