, marine, aviation, and energy markets across the world. Its major brands are Castrol, BP, and Aral. The company divides its lubricants business up into five customer sectors, such as automotive, marine, industrial, aviation, and energy. Petrochemicals Business The company manufactures and markets four main product lines, such as purified terephthalic acid, paraxylene, acetic acid, and olefins and derivatives. It also produces various other speciality petrochemicals products. Strategy The company’s strategy focuses on four priorities executed in a systematic and disciplined way, such as safety performance; high-quality downstream portfolio; competitive returns; and material and growing cash flows for the group through exposure to growth opportunities and markets. Other Businesses Other businesses comprise the Alternative Energy business and the company’s shipping and treasury functions worldwide. Alternative Energy The company invests in expanding the scale of its biofuels business and in utilizing its capabilities and experience in agri-business, bio-technology and bio-refining. The company also has an operating wind business. Biofuels: The company operates three sugar cane mills in Brazil producing bioethanol and sugar, and exporting power to the grid. In the U.S., the company has made the strategic decision to focus its biofuels business on the research, development, and commercialization of cellulosic ethanol technology at its facilities in San Diego, California, and Jennings, Louisiana. Wind: In wind power, the company’s business is focused onshore in the U.S. In 2013, the company marketed its wind business for sale. Emerging Business and Ventures: The company’s emerging business and ventures unit invests in technology entrepreneurs working at the frontiers of their fields – across the entire energy spectrum. Investments focus on emerging, strategic technologies, oil and gas, downstream technologies including fuels and chemicals, and biotech and bioenergy. Shipping: The company transports its products across oceans, around coastlines and along waterways using a combination of company-operated, time-chartered and spot-chartered vessels. In 2013, the company announced it had signed a contract with Hyundai Mipo Dockyard Co., Ltd to build 14 new product tankers in Korea. Treasury: From locations in the U.K., the U.S., and Singapore, Treasury provides the interface between the company and the international financial markets and supports the financing of its projects around the world. Strategy The company’s strategy is to focus on the conversion of cost-advantaged feedstocks that are materially scalable and that could be competitive in an $80/bbl crude oil environment without subsidies. Significant Events In June 2014, Rosneft and BP signed an agreement to jointly explore for hard-to-recover oil in Russia. Rosneft will hold 51% of the joint venture, which will explore the Domanic formation, and BP will hold 49%. In July 2014, FMC Technologies, Inc. announced that it has signed an agreement which establishes a joint industry program that includes Anadarko Petroleum Corporation, BP, ConocoPhillips and Shell for the purpose of jointly developing a new generation of standardized subsea production equipment and systems designed to meet the challenges of producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350degF at the mudline. History BP p.l.c. was founded in 1889.
bp plc (BP/:London)
1 St James's Square
London, SW1Y 4PD
Phone: 44 20 7496 4000
Fax: 44 20 7496 4630www.bp.com
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|Total SA||€50.04 EUR||+0.045|
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