We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

See Pricing

What's Your Topic?

Hire a Professional Writer Now

The input space is limited by 250 symbols

What's Your Deadline?

Choose 3 Hours or More.
Back
2/4 steps

How Many Pages?

Back
3/4 steps

Sign Up and See Pricing

"You must agree to out terms of services and privacy policy"
Back
Get Offer

British Petroleum (Bp) Case Study

Hire a Professional Writer Now

The input space is limited by 250 symbols

Deadline:2 days left
"You must agree to out terms of services and privacy policy"
Write my paper

British Petroleum (BP) Case Study Executive Summary This case study report examined a public relation management problem that British Petroleum (BP) faced since the oil spill accident happened in April, 2010. In addition, this thesis recommended possible solutions and implementation plans for BP to deal with the public crisis. On April 20, the explosion on the Deepwater Horizon drilling rig in the Gulf of Mexico led to the largest accidental release of oil into marine waters in history. As a result, a huge loss of money and life was caused and affected serious environmental damage to wild animals and water pollution.

Don't use plagiarized sources. Get Your Custom Essay on
British Petroleum (Bp) Case Study
Just from $13,9/Page
Get custom paper

BP was accused of their irresponsibility that it took 87 days before the well was closed and sealed. BP’s shares plummeted to the lowest point since 1996. The communities around the Gulf of Mexico blamed BP for their carelessness and appealed for more actions to recover their low income life. BP has already established $20 billion fund to respond the situation in the Gulf of Mexico.

However, according to recent research, the amount of the money is not enough to straighten out the crisis. In order to examine the case, we performed PEST and SWOT analysis methods.

We focused on evaluating economic and socio-cultural factors that were the major elements had affects on BP’s public image. At the same time, we analyzed and key strengths and opportunities that essential for BP to revitalize its brand image. Our analysis revealed two crucial factors. First, BP’s own fund is not enough. Second, there can be more effective solutions to sew up the company’s mishap. Based on those finding, we determined that BP should play more active role in the crisis and our solution is to create a worldwide oil trust fund that will gather the power of all oil companies.

The purpose of this fund will be collecting money for extra help in such situations, due to the case with BP is not the only one and other companies also experience such situations previously. Table of content 1. Introduction4 1. 1. Background4 1. 2. Problem of statement4 1. 3. Statement of Objectives5 1. 4. Methodology5 1. 5. Assumptions:5 2. Findings5 2. 1. Analysis5 2. 2. Findings7 Finding 1: BP’s $20 billion fund is not enough for oil spill clean-up7 Finding 2: BP has strong social responsibilities8

Finding 3: oil industry considerably profitable business and take one of the main positions in the World economy and The British Petroleum if we exclude the accident in Mexican Sea has a huge respect and reputation as a stable, developing and profitable corporation. 9 3. Recommendations and implementations11 3. 1. Recommendation A: Establish a trust fund with other oil super-majors11 3. 1. 1Implementation plan for recommendation A11 3. 2. Recommendation B: promotion and PR its past achievements and awards and also continuing building positive reputation12 3. 2. 1. Implementation plan for recommendation B12 4. Conclusion13

Appendix 1:14 Appendix 2:16 Appendix 3:17 References20 1. Introduction 1. 1. Background In the evening of April 20, 2010, the gas release and subsequent explosion occurred on the Deepwater Horizon oil rig working on the Macondo exploration well for BP in the Gulf of Mexico. The fire burned for 36 hours before the rig sank, and hydrocarbons leaked into the Gulf of Mexico for 87 days before the well was closed and sealed. The explosion led to the largest accidental release of oil into marine waters in history. Eleven workers on the rig died, 17 were injured. The oil spill also caused serious social and environmental problem.

About 1,070 kilometres of Gulf of Mexico coastline were contaminated by the oil. The area closed to fishing reached a peak 225,290 square kilometres on June 21. The area’s tourism industry was devastated by the spill which employs 524,000 employees. The latest report from the oil spill’s Unified Area Command shows that 2,080 oiled birds were collected alive. Also, about 6,104 dead birds were assembled and 609 dead turtles have been amassed. Accordingly, BP has acted to take responsibility for the clean-up, to respond swiftly to compensate people affected by the impact of the accident.

As of 31 December 2010, BP had spent $17. 7 billion for their response activities. As of March 28, there were still 217 vessels and 2,349 personnel working on cleaning up the spill. 3,474 kilometres of containment and absorbent boom were deployed against the spreading oil slick on August 2nd. 411 in-situ burns conducted (which burned 265,450 barrels of oil) and 1. 4 million barrels of liquid waste collected. 1. 2. Problem of statement The oil spill undermines the reputation and market position of British Petroleum, thus its stock prices decline dramatically.

Even though BP took measures for resolving these problems, its way was not beneficial enough and therefore, it still requires more advantageous resolutions. 1. 3. Statement of Objectives The objectives of this study were to: 1. Figure out problems that BP faced after the disaster 2. Analyze companies’ position at the oil market 3. Overview the main resent futures of oil industry 4. Evaluate BP’s masseurs 5. Suggest applicable ways to cope with obstacles 6. Build implementation plans for BP to put into action 1. 4. Methodology We used two analyses methods to identify background and to evaluate information that we have.

First of all, SWOT analysis finds specific internal facts that play main role in BP’ business, its Strength and Weakness, Opportunity and Threat. Secondly, by performing PEST analysis, we discovered external elements that had major influence on this issue. We evaluate oil business environment from four perspectives, political factors, economic factors, socio cultural factors, and technological factors. PEST analysis gives company opportunity to see a longer horizon of time, and be able to clarify strategic chances and threats that the organization faces.

This evaluation lets us prepare better solution of problem and strategic plan that will successful in the future. 1. 5. Assumptions: * This case was conducted at the beginning of 2011 * There was not another major problem affecting to BP except the oil spill in Mexican Sea. 2. Findings 2. 1. Analysis Performing PEST analysis, we found following key factors: From political perspective, we would like to mark, the most important recently happen event that after long discussion with some oil companies, such as Shell, Exxon Mobil, Chevron and BHP Billiton received permission to continue their drilling work in The Mexican Sea.

Moreover, BP also received that permit; however, after other companies and with different limitations and strict rules. Nevertheless, companies can continue their work, but they are not let to drill new ones. Even though the works in Mexican Sea was started again, the damage after disaster still exists and there are not any proved forecasts when environment will be completely clean and re-establish. Furthermore, some events that are going on now in the World nowadays have huge influence on oil industry.

There are problems in the Middle East and earth quick in Japan. All of these factors make oil market unpredictable and very changeable, and at the same time stimulating upper trend of oil prices. In addition, work in oil industry is becoming more and more complicated and expensive, due to diverse limitations and rules are created by different environment organizations. From economic side, it is obvious that oil price increased dramatically from 95. 27 (January, 25 2010) to 122. 5 (April, 6 2011).

Moreover, according to forecast, such trend will continue and oil market expects future increase to $130 in July 2011 and even $150 in October 2011. On the other hand, the costs of drilling process will also rise in very close future. Social perspective demonstrates high rise in oil consumption for one person, thus oil consumption is expected to become 90 ml barrel/day at the end of 2011 year. Also we should notice social responsibility of BP and the evidence of this fact is its sponsorship of London 2012 Olympic and Paralympics Games. The last point of PEST analyze is Technological factors.

These findings determine the continuing development and improvement in industry under consideration, therefore, these new advanced technology makes drilling more beneficial and safe for environment and also decrease possibility accidents. Performing SWOT analysis, we found following factors: BP is the third-largest energy company and fourth-largest company in the world measured by revenues. It has a strong foundation and potential to be recovered from the oil spill accident. According to the company’s report that BP had a return to profit of $1. 85 billion after the disaster though it had huge loss after the disaster.

With the new investment in alternative energy and alliance with Kremlin-controlled oil company Rosneft, BP has good opportunities to gain back its profits. However, BP also faced serious situation that the company had several oil spill accidents and massive economics loss. For example, the catastrophe in the Gulf of Mexico in 2010 led to 11 deaths and at least $17. 15 billion loss. BP sold some asserts and gas stations to pay for the compensation. In 2005, the explosion of BP refinery in Texas caused 100 injuries and 15 deaths. The Exxon Valdez spill in Alaska in 1989 resulted in closing of Alaskan oil wells and $7 billion loss.

Moreover, BP is suffering its largest threat of its reputation and company image. The public criticized BP’s attitude to the victims of the oil spill when Kenneth Feinberg, the administrator of the independent fund, indicated the $20 billion compensation fund was too generous in a press. 2. 2. Findings Finding 1: BP’s $20 billion fund is not enough for oil spill clean-up After the meeting with the President of the United States, BP established a $20 billion escrow fund to dealing with the damages and claims arising from its disastrous Gulf oil spill.

Businesses, individuals who suffered economic losses or physical injury as a result of the BP oil spill were eligible to file two types of claims: Emergency Advance Payments and long-term final damage claims. Although $20 billion fund is already a financial calamity for BP, it planned to reduce its investment program and sell $10 billion of assets to help defray the costs of the escrow fund. But the real question is whether $20 billion is enough for the loss of lives and environmental damage?

According to the initial investigate report from analysts at Barclays Capital, estimates of the total cost of cleaning up the spill and paying damage claims have run as high as $70 billion, including costs associated with the damages to wildlife, commercial fisheries, tourism and recreational industries and costs associated with disruption of shipping. Till now, the average daily cost jumped to $33 million as BP paid more than 1,000 claims. Depending on how the situation unfolds, the final cost is still unknowable but it will definitely exceed $20 billion.

Moreover, the public have harbored suspicions about the $20 billion BP Trust Fund meant to compensate victims of the oil spill. The calamity, which now ranks as the largest offshore oil disaster in US history, paralyzed important segments of the Gulf Coast’s economy. The fishing industry came to a stop, tourism was wrecked, and the livelihoods of hundreds of thousands were in deep jeopardy. To the shrimpers, oystermen, boat captains, restaurant and hotel owners and their employees, all of whose lives and livelihoods have been completely upended, they are pondering more on the future that how could they earn a living in this disaster.

With all these situations, a $20 billion escrow suddenly seems “relatively trivial” compared to the “vast ocean”. Finding 2: BP has strong social responsibilities BP has a long track of taking social responsibilities. In 1997, it became the first major oil company to publicly acknowledge the need to take steps against climate change, and in that year established a company-wide target to reduce its emissions of greenhouse gases. With operations in more than 80 countries worldwide, BP has a positive impact on many local communities and economies.

BP projects and operations have benefitted local communities by creating jobs, tax revenues and opportunities for local suppliers. The company also has been working on alternative energy sources like solar and wind. Since 2005, BP Alternative Energy has invested over $5 billion in the growing markets of bio-fuels, wind and solar while building long term options in carbon capture and storage and clean technology. It’s the only oil company investing in all of these concepts. Indeed, BP is the most active in alternative energy among all the major oil companies.

BP at one point was the world’s second-largest solar company, the Washington Post reports (it’s now in the top 15). BP holds a leading share in the global market for photovoltaic modules, which turn sunlight into electricity. In addition, company’s sunburst logo and decade-old green marketing campaign with the adverting slogan “Beyond Petroleum” tell people that BP is looking at investing in alternatives with more environmental concerns. BP’s award-winning building in Cape Town has been praised by the architectural community as a pioneering achievement in eco-friendly design and is ranked among the world’s most innovative and sustainable.

Finding 3: oil industry considerably profitable business and take one of the main positions in the World economy and The British Petroleum if we exclude the accident in Mexican Sea has a huge respect and reputation as a stable, developing and profitable corporation. Oil industry The oil industry enjoyed record revenues and profits during many years. For example, in 2007, the oil industry recorded revenues of approximately $1. 9 trillion, of which 78% was accounted for by the five major integrated oil companies.

Profits for the industry totaled over $155 billion, 75% of which were earned by the five major oil companies. Thus, oil production led the way as the most profitable segment of the market, even when oil and gas production growth can be not so significant. Two factors stimulate this profit, first of all the continuing growth of crude oil price and secondly, it is an increase of demand for petroleum products worldwide. According to forecast these trends continue in future: April 2011 – $110 oil July 2011 – $130 oil October 2011 – $150 oil About BP

BP is one of the five largest oil companies in the world; the British Petroleum Company plc is considered the United Kingdom’s largest corporation. The pioneer of the Middle Eastern oil industry, BP discovered oil in Iran before World War I and eventually became involved in all aspects of the oil industry, from exploration to marketing. By the mid-1990s, it was producing over 1. 2 million barrels of oil and 1. 5 million cubic feet of natural gas every day. “Downstream” operations–oil refining and marketing–contributed the lion’s share (over four-fifths) of BP’s revenues in the mid-1990s.

BP is familiar to most people by virtue of its more than 16,400 service stations around the world, but it also has significant interests in oil exploration (generating 13 percent of revenues) as well as production of chemicals and plastics (about seven percent of sales). BP is one of the world’s leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. BP operates at the frontiers of the energy industry.

It uses world-class assets, technology, capability and know-how to meet energy needs and deliver long-term value. BP is working hard to restore trust in its ability to operate safely and responsibly wherever they do business. Their approach to sustainability covers issues relating to governance and risk management, safety, the environment, the energy future and its local and global socio-economic impact. They aim to report on these issues in a way that answers key questions raised by their stakeholders. The slogan of BP suggests an environmentally friendly company undergoing a sea change toward alternative energy sources like solar and wind.

BP says it has invested $4 billion in wind, solar, biofuels and carbon-capture-and-storage since 2005 and the company expects to spend another $4 billion in the next five years. It’s the only oil company investing in all of these concepts. And, surprise – oil and gas companies are by far the biggest investors in green energy. In addition, we need to notice the profitability of BP, BP’s first-quarter (2010) replacement cost profit was $5,598 million, compared with $2,387 million a year ago, an increase of 135%. Moreover, BP demonstrate continuing trend of growing on the stock market (except the year of accident).

Furthermore, there is some evidence that prove its successful future. For example, its $8 billion deal with the Russian state-owned oil company, which also includes a plan for a joint venture to explore the Russian Arctic. BP’s businesses in Russia are vital to its future. Russia represents a quarter of BP’s global oil output, and drilling in the Russian Arctic remains one of the company’s best opportunities to increase reserves and production in the future. 3. Recommendations and implementations After analyzing and reviewing all potential actions, we determined two recommendations based on the findings.

Each of the recommendations has their own implementations. 3. 1. Recommendation A: Establish a trust fund with other oil super-majors BP and other oil giants should assign parts of their profits into an escrow fund to avoid and eliminate such oil spill accident. 3. 1. 1 Implementation plan for recommendation A Phase 1: BP has long-term cooperation with other oil companies and contractors. Since such oil spill accident has occurred not only in BP but also in these companies, they are assuming the risk of digging oil. The mutual fund can provide funds for technical development.

In this way, the technology development will reduce the rate of accidents to solve the problem under the real root. Phase 2: The trust fund can give assistance to accident as such. If there is an emergency oil spill, a company could extract a considerable volume of money from this fund to solve the crux. The fund could pay for the loss, including the cost of damages to local communities, circumstances, people and other infrastructure. Phase 3: The fund should donate money to environmental organizations (eg. World Wildlife Fund) to deliver the eco-friendly image of oil industry.

This action will also promote the company’s positive image. 3. 2. Recommendation B: promotion and PR its past achievements and awards and also continuing building positive reputation British Petroleum during more than one hundred years of existent created an advantageous reputation and gain people’s confidence through all over the World. Therefore, we suggest BP use these benefits for remaining people BP’s positive side. 3. 2. 1. Implementation plan for recommendation B Phase 1: British Petroleum should create film about its history from very beginning, where all its positive side will be reproduced.

There are two main facts that should be shown in the film, first of all, BP’s successes on the market (its profitability, development and growth) and secondly, BP’s social responsibility (environment care, charity and investments in new research). Also they can published a book with the same content and distribute it through the library from all over the world. Phase 2: BP should use also other ways of promotions such as conference, advertisement and even organize its museum. Phase 3: BP should continue its environment and social projects, organizing donations and financing environment organizations. . Conclusion Based on the facts provided in the case and our analysis, we identified two key findings as bellow: (1) BP’s $20 billion fund is not enough for oil spill clean-up; (2) BP has strong social responsibilities; (3) oil industry considerably profitable business, which takes one of the main positions in the World economy and The British Petroleum if we exclude the accident in Mexican Sea has a huge respect and reputation as a stable, developing and profitable corporation. Therefore, we figured out two corresponding recommendations for BP to resolve its obstacles.

First, establish a trust fund with other oil super-majors. Second, promotion and PR its past achievements and awards and also continuing building positive reputation. We strongly suggest BP to perform both of our recommendations, due to we believe that only combination of them is able to generate beneficial results. We expect that the world will require a more diverse energy mix as the basis for a secure supply of energy over time. Moreover, we hope that that BP will be a safer, more risk-aware business and it will able work hard to earn back the trust in its operations.

Furthermore, we presume that BP will rebuild value for its shareholders by re-establishing its competitive position in oil industry. Overall, BP has all advantageous perspective and confident possibilities to achieve these goals. Appendix 1: SWOT Analysis: Strength: * The third-largest energy company and fourth-largest company in the world measured by revenues * One of the six oil and gas “super-majors”. * Operates petrochemical businesses worldwide through the network of its subsidiaries and retail brands(Amoco; ARCO; BP Express, BP Connect; BP Travel Centre; Burmah Castrol etc) * Produces around 3. million barrels of oil equivalent per day * Has 22,400 service stations worldwide * Participates in London Stock Exchange, IPO in New York Stock Exchange. and is listed in the FTSE 100 Index; * BP Amoco strong brand loyalty for oil; * Strong brand management driven by the ‘Beyond Petroleum’ slogan. Weakness * Oil spill in the Gulf of Mexico in 2010 * Launch of controversial business with the Baku-Tbilisi-Ceyhan pipeline; * Increase in petrol prices in the UK; * Explosion of BP refinery in Texas that caused 100 injuries and 15 deaths in 2005; * Criminal charges due to the spread of 270. 00 gallons of crude oil in the Alaskan tundra in 2006; * Toxic spill of 2,000 gallons of methanol in the oil field (Prudhoe Bay) managed by BP. * Closing of Alaskan oil wells. Opportunity * New alliance with Kremlin-controlled oil company Rosneft * 8 billion USD investment in the research of alternative fuel methods, including hydrogen, natural gas, wind and solar over the forthcoming decade; * Expansion of frontier areas suitable for BP’s future reserves (post-Soviet Union territories); * Extension of strategic oil and gas acquisitions in North Sea area; * Launch of more flexible price policy to compete main rivals;

Threat * Environmentally unsound policies due to oil and toxic spills; * Occasional refinery explosions; * Corrosion in pipelines; * Competition from Shell and Chevron * Ceasing operations in a number of potential locations  with their further re-branding (Conoco); * Sale of corporate-owned stations; * More than 5. 000 shortages within coming months; * $66,71 per barrel creates considerable tensions for running oil business; * Further lawsuits considering the company’s ecological activities Appendix 2: PEST ANALYSIS Political factors USA has already let some oil companies (Shell, Exxon Mobil, Chevron and BHP Billiton) drilling in Mexican Sea * BP also recently received permission for working in Mexican Sea, however with some specific conditions * Situation in the Middle East * Disaster in Japan * The oil industry is bracing itself for new regulation, welcoming moves to prevent market abuse, but tighter position limits could stifle liquidity and bring greater price volatility. Economic factors * Oil price is increasing very fast from 95. 27 (January, 25 2010) to 122. (April, 6 2011) * According to forecast such increases will continuing (July 2011 – $130 oil October 2011 – $150 oil) * The company ranks third among the major global energy companies in the world * Spends on oil spill – $43 billions, thus BP started to sell their activities * The new rules for drilling would have been too costly. Sociocultural factors * Partner for the London 2012 Olympic and Paralympic Games * According to resent forecast the global oil consumption is becoming to 90 ml barrel/day at the end of 2011 Technological factors * New research and new technology Advanced technology makes it possible for the oil and gas industry to produce resources from beneath sensitive environments. Appendix 3: BP’s stock price and timeline for oil spill Date| Event| 2010 April 20th | An explosion aboard the Deepwater Horizon drilling rig in the Gulf of Mexico, 52 miles (84km) south-east of Venice, Louisiana, kills 11 workers. | 2010 April 22nd| The Deepwater Horizon rig, valued at more than $560 million, sinks and a five mile long (8 km) oil slick is seen. | 2010 April 30th| U. S. President Barack Obama pledges “every single available resource,” including the U. S. ilitary, to contain the spreading spill. Obama also says BP is responsible for the cleanup. BP Chief Executive Tony Hayward says the company takes full responsibility for the spill and would pay all legitimate claims and the cost of the cleanup. | 2010 May 2nd | Obama visits the Gulf Coast to see cleanup efforts first hand. U. S. officials close areas affected by the spill to fishing for an initial period of 10 days. BP starts to drill a relief well alongside the failed well, a process that will take two to three months to complete. | 2010 May 8th | BP’s effort to place a giant metal box atop the leaking well o contain the spill fails when ice crystals accumulate inside the box and engineers are forced to remove it. | 2010 May 10th | BP officials weigh shoving debris, including golf balls and rubber tyres, into the leaking wellhead, a manoeuvre known as the “junk shot”. They also ready a “top hat” – a metal dome – to be placed over the leak. | 2010 May 11th | At a series of congressional hearings, BP, Transocean and Halliburton, the three companies involved in the Deepwater Horizon drilling operations, all blame each other for the disaster. 2010 May 26th | BP prepares to plug the leaking well with heavy drilling mud, a procedure called a “top kill”. The attempt is declared a failure three days later. | 2010 June 2nd | The US announces a criminal inquiry into the BP oil spill. | 2010 June 4th | BP places a cap, called the “lower marine riser package”, atop the leaking wellhead. The cap allows the company to pipe much of the oil and gas leaking from the well to ships on the surface| 2010 June 10th| The US Geological Survey estimates the oil flow at as many as 40,000 barrels per day before a cap was put on the well on 3 June.

BP announces it is collecting 15,800 barrels per day from the well| 2010 June 17th | BP announces it will place $20bn in a fund to compensate victims of the oil spill and says it will not pay a shareholder dividend this year. | 2010 June 18th | BP chief executive Tony Hayward receives a tongue-lashing at a hearing in the US Congress| 2010 June 22nd | BP hands day-to-day control of the response to Bob Dudley, replacing Chief Executive Tony Hayward, who had been widely criticised for his insensitive remarks on the spill. 2010 Jult 5th | BP says the oil spill response has cost the company $3. 12bn (? 2bn), including the cost of containing the spill and cleaning up the oil, and the cost of drilling relief wells. The figure also includes $147m paid out in compensation to some of those affected by the spill. | 2010 July 10th | BP begins a bid to place a tighter-fitting cap atop the leaking wellhead. The company warns that oil will flow freely while the caps are being exchanged, but says it has brought in 400 oil-skimming ships to deal with the increased flow. 2010 July 15th | With the new cap in place, BP says it has temporarily shut off the oil flow in order to test the integrity of the well. | 2010 July 27th | BP’s second quarter earnings are published, showing losses of $17bn for the three months between April and June – a UK record. The company says it has set aside $32. 2bn (? 20. 8bn) to cover the costs linked to the Gulf of Mexico spill. | 2010 August 9th | BP announces that the total cost to it of the oil spill so far has reached $6. 1bn (? 3. 8bn). The total includes the cost of the spill response, containment, relief well drilling, and cementing up of the damaged well.

It also includes grants to the Gulf states hit by the spill and $319m paid out in compensation to some of those affected by the spill. | 2010 August 16th | The US announces that future applications for deepwater offshore drilling will require an environmental assessment, ending a practice that allowed BP’s Deepwater Horizon rig to drill with little scrutiny. | 2010 September 3rd | The blowout preventer that failed to stop the explosion on the Deepwater Horizon rig is removed from the stricken Gulf of Mexico oil well by BP. The cost of the oil spill has risen to $8bn (? . 2bn), BP says – a rise of some $2bn in the past month alone. | 2010 September 8th | In its own internal report into the Gulf of Mexico oil spill – the first to be published since the disaster – BP spreads the blame for the 11 April explosion and resulting leak. In a 193-page report, BP accepts responsibility in part for the disaster, but also blames other companies working on the well. | 2010 September 19th | The ruptured well is finally sealed and “effectively dead”, says the top US federal official overseeing the disaster, Coast Guard Adm Thad Allen. 2010 September 28th | A Whitehouse commission appointed to investigate the spill criticises the government for under-estimating the spill’s seriousness. | 2010 October 1st | Bob Dudley takes over as chief executive of BP following the departure of Tony Hayward. | 2010 October 10th | BP announces that its external safety ombudsman, put in place after the fatal explosion at its Texas City refinery in 2005, will stop taking complaints after June 2011. | 2010 October 29th | BP and Halliburton accused of not taking proper measures which could have prevented Deepwater Horizon explosion. 2010 November 2nd | BP increases the estimated total cost of the oil spill to $40bn, $7. 7bn more than previously expected. | 2010 November 24th | Ken Feinberg expects to pay out only $2. 3bn in emergency claims over Gulf of Mexico oil spill from $20bn fund. | 2010 December 15th | The US government files a suit against BP and several of its partners in the Gulf of Mexico oil disaster. | 2011 January 6th | The White House oil commission concludes that the oil spill in the Gulf of Mexico was the result of ystematic management failure at BP, Transocean and Halliburton. | 2011 February 21st| BP paid $7. 2 billion for stake in oil fields in India. | References BP Global-Gulf of Mexico restoration (2010). Retrieved April 8, 2011 from http://www. bp. com/sectionbodycopy. do? categoryId=41&contentId=7067505 BP Plc (2011). New York Times. Retrieved April 8, 2011 from http://topics. nytimes. com/top/news/business/companies/bp_plc/index. html Braith, T. (2010). $20bn BP fund enough for spill costs, In Finicial Times. Retrieved April 6, 2011 from http://www. t. com/cms/s/0/70d65840-f666-11df-846a-00144feab49a. html#axzz1Jcfpu0Cf Deneen, S. (2010). BP before the oil spill: An environmentally friendly company? . Retrieved April 6, 2011 from http://www. walletpop. com/2010/06/11/bp-before-the-oil-spill-an-environmentally-friendly-company/ Gross, D. (2002). Oil Slicks:BP’s new eco-friendly ad campaign makes no sense. Retrieved April 4, 2011 from http://www. slate. com/id/2072470 Gulf of Mexico Oil Spill (2010). New York Times. Retrieved April 11, 2011 from http://topics. nytimes. om/top/reference/timestopics/subjects/o/oil_spills/gulf_of_mexico_2010/index. html Mortished, C. (2010). Planners put a stopper on BP’s eco-friendly gas pump. In The Times. Retrieved April 6, 2011 from http://business. timesonline. co. uk/tol/business/article1059782. ece Schoen, J. W. (2011). BP $20 billion fund may not cover spill costs. In MSN Business. Retrieved April 8, 2011 from http://www. msnbc. msn. com/id/37736098/ns/business-us_business/ Code for crude Oil. Retrieved April 4, 2011 from http://www. oil-price. net/dashboard. php? ang=en#syndicate_usd Oil prices. Retrieved April 4, 2011 from http://oilprice. com/ Pest analyze. Retrieved April 4, 2011 from http://en. wikipedia. org/wiki/PEST_analysis Ivory research: An internal and external analysis of BP Solar and Shell Renewables. Retrieved April 4, 2011 from http://www. ivoryresearch. com/sample1. php Papers4you. com: What is the past analysis? Retrieved April 4, 2011 from http://www. coursework4you. co. uk/essays-and-dissertations/pest-analysis. php Rosbalt Business: BP what to come back to Mexico. Retrieved April 5, 2011

Cite this British Petroleum (Bp) Case Study

British Petroleum (Bp) Case Study. (2019, May 02). Retrieved from https://graduateway.com/british-petroleum-bp-case-study-824/

Show less
  • Use multiple resourses when assembling your essay
  • Get help form professional writers when not sure you can do it yourself
  • Use Plagiarism Checker to double check your essay
  • Do not copy and paste free to download essays
Get plagiarism free essay

Search for essay samples now

Haven't found the Essay You Want?

Get my paper now

For Only $13.90/page