BPBP p.l.c. (formerly The British Petroleum Company p.l.c and BP Amoco p.l.c) is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas "supermajors" and one of the world's largest companies measured by revenues and profits. It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and extraction, refining, distribution and marketing, power generation, and trading.
Petroleum industryThe petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics.
Vertical integrationIn microeconomics, management and international political economy, vertical integration is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration, wherein a company produces several items that are related to one another.
Standard OilStandard Oil Company, Inc., was an American oil production, transportation, refining, and marketing company that operated from 1870 to 1911. At its height, Standard Oil was the largest petroleum company in the world, and its success made its co-founder and chairman, John D. Rockefeller, among the wealthiest Americans of all time and among the richest people in modern history. Its history as one of the world's first and largest multinational corporations ended in 1911, when the U.S. Supreme Court ruled that it was an illegal monopoly.
Liquefied natural gasLiquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). LNG is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia.
Multinational corporationA multinational corporation (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC, to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks.
Oil shaleOil shale is an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons can be produced. In addition to kerogen, general composition of oil shales constitutes inorganic substance and bitumens. Based on their deposition environment, oil shales are classified as marine, lacustrine and terrestrial oil shales. Oil shales differ from oil-bearing shales, shale deposits that contain petroleum (tight oil) that is sometimes produced from drilled wells.
Saudi AramcoSaudi Aramco (أرامكو السعودية DIN), officially the Saudi Arabian Oil Group or simply Aramco, is a Saudi Arabian public petroleum and natural gas company based in Dhahran. , it is one of the largest companies in the world by revenue and has repeatedly achieved the largest annual profits in global corporate history. Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than , and largest daily oil production of all oil-producing companies.
Oil tankerAn oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined crude oil from its point of extraction to refineries. Product tankers, generally much smaller, are designed to move refined products from refineries to points near consuming markets. Oil tankers are often classified by their size as well as their occupation.
Upstream (petroleum industry)The oil and gas industry is usually divided into three major sectors: upstream (or exploration and production - E&P), midstream and downstream. The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas to the surface. The upstream industry has traditionally experienced the highest number of Mergers, Acquisitions (M&A) and Divestitures.
Oil sandsOil sands, tar sands, crude bitumen, or bituminous sands, are a type of unconventional petroleum deposit. Oil sands are either loose sands or partially consolidated sandstone containing a naturally occurring mixture of sand, clay, and water, soaked with bitumen, a dense and extremely viscous form of petroleum. Significant bitumen deposits are reported in Canada, Kazakhstan, Russia, and Venezuela. The estimated worldwide deposits of oil are more than ; Proven reserves of bitumen contain approximately 100 billion barrels, and total natural bitumen reserves are estimated at worldwide, of which , or 70.
IraqIraq, officially the Republic of Iraq, is a country in the Middle East. It is a federal parliamentary republic that consists of 19 governorates. The country is bordered by Turkey to the north, Iran to the east, the Persian Gulf and Kuwait to the southeast, Saudi Arabia to the south, Jordan to the southwest and Syria to the west. The capital and largest city is Baghdad. The Iraqi people are diverse; mostly Arabs, as well as Kurds, Turkmen, Assyrians, Armenians, Yazidis, Mandaeans, Persians and Shabakis with similarly diverse geography and wildlife.
Offshore drillingOffshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is typically carried out in order to explore for and subsequently extract petroleum that lies in rock formations beneath the seabed. Most commonly, the term is used to describe drilling activities on the continental shelf, though the term can also be applied to drilling in lakes, inshore waters and inland seas. Offshore drilling presents environmental challenges, both offshore and onshore from the produced hydrocarbons and the materials used during the drilling operation.
Shell plcShell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. A core component of Big Oil, Shell is the second largest investor-owned oil and gas company in the world by revenue (after ExxonMobil), and among the world's largest companies out of any industry.
Shell USAShell USA, Inc. (formerly Shell Oil Company, Inc.) is the United States-based wholly owned subsidiary of Shell plc, a UK-based transnational corporation "oil major" which is amongst the largest oil companies in the world. Approximately 18,000 Shell employees are based in the U.S. Its U.S. headquarters are in Houston, Texas. Shell USA, including its consolidated companies and its share in equity companies, is one of America's largest oil and natural gas producers, natural gas marketers, fuel marketers and petrochemical manufacturers.
