Write 5 page essay on the topic British Petroleume.
In the United States, BP expanded its operations through the acquisition of US Standard Oil Company (Longhurst, 23-27). BP has made considerable efforts to make sure that it continues to diversify within the energy markets other than the petroleum products. It also has a 50 % stake in the solar energy company it purchased from Enron, the BP Solarex. The company markets its products to about a hundred different countries. Its turnover exceeded over US $ 239 billion in 2009 and it employs a diverse group of over 92,000 individuals.
British Petroleum (BP) became Britain’s largest and the world’s third largest oil exploration company, after its acquisition of Amoco. BP focuses on the exploration and production of natural gas and oil products. It has achieved economies of scale in various segments of its business and has vertically integrated over the last two decades. The company is involved in refining oil products, marketing its own products, and handling the transportation of its products to merchandisers. Moreover, the company also markets the by-products of crude oil produced during the refining process. It is involved in the production of acetyl products, aromatics and certain polyester intermediaries.