The last five years have been testing times for British Petroleum (LON: BP). Threatened by two events namely the recession in 2008 and the oil spill off the Gulf of Mexico in 2010, the company has been prone to litigations over the years as it looks to revive its business and maintain its status quo.
Headquartered in London, the business segment of BP can be classified as Exploration & Production and Refining & Marketing. The Exploration & Production segment is associated with exploring and development new fields, transportation, storage, processing and the marketing and trading of allied products. The Refining & Marketing segment on the other hand caters to the services offered to wholesale and retain customers. Globally the company has a presence in Europe, the Americas, Asia Pacific and the Middle East with operations in approximately 30 countries. The company is the third largest publicly traded integrated oil company lagging behind Exxon Mobil and Royal Dutch Shell. Continue reading..
