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AIG summary

By | November 2013
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A Summary of the case “BP (Beyond Petroleum) Focuses on Sustainability” Introduction
British Petroleum or Beyond Petroleum (BP) is the world’s one of the largest and leading petroleum product manufactures. It has headquarters in London. It operates from 29 countries. Though it has faced safety and environmental controversies in the history of its operations it could overcome all negative images through a concrete focus and consistent efforts towards sustainable developments.

BP operates throughout the world in locations, terrains and climates that are tremendously diverse and frequently challenging. However, BP aims to minimize its environmental impact by taking a systematic and disciplined approach to operations, using sophisticated risk assessment techniques that directly inform its business plans. Therefore, BP is incorporating its environmental management systems into the group-wide operating management system that helps BP to set priorities for operations based on assessment of the key risks, including those related to environmental and social performance.

Historical Background:

BP (NYSE:BP) is one of the world's largest oil and gas companies in terms of production capacity. BP was founded more than a century ago by William D’Arcy, a wealthy British gentleman who had invested all his savings in the quest for oil in the Middle East. While experts and scientists had encouraged D’Arcy to pursue the venture, after more than six years of drilling, both his patience and finances were running low. Finally, in 1908, the drillers reached almost 1,200 feet and a fountain of oil spewed out. After long years filled with disappointment, pain, and despair, the Anglo-Persian Oil Company, what would become BP, was born. The company quickly opened trade on the stock market, and D’Arcy, who had lost nearly his entire net worth, became rich.

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