THE CURRENT CHALLENGES FACING (BP) IS UNPARALLELED.THAT IS AN ETHICAL CRISIS IS UNCHALLENGING.BUT IS IT REALLY A CASE OF THE OIL INDUSTRY? BEING AT FAULT? IS IT REALLY A REGULATORY ISSUE?
BRIEF INTRODUCTION OF BRITISH PETROLEUM
(BP) is one of the largest oil companies in the world. It is one of the leading oil companies on the basis of market capitalisation and proven reserves. Its Oil Company has transformed growing from local oil company to a global energy group. It was established in 1908 with oil found in a rugged part of Persia after a long difficult search. Their businesses include exploration and production, refining and marketing, chemicals. It is also one of the largest energy companies that provide its customers with fuel for transportation and the manufacturing and marketing of petrochemicals with a growing presence in gas and in solar power generations. As an oil company, it is directly linked with the use of fossil fuel linked with major environmental challenges on a global scale. In addition, the company has a solar energy business which is one of the world’s largest manufacturers of photovoltaic modules and systems. In recent record of BP in 2005 an explosion in a Bp refinery in Texas killed is workers. In 2006 over 250,000 gallon of oil spill through corroded sections of the BP pipeline in Alaska across the North slope. In both instance, it was alleged that cost cutting measures instituted by BP executives had led to poor... [continues]
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