BP Company Description
BP is also BO (Big Oil). It is the world's third largest integrated oil concern, behind Exxon Mobil and Royal Dutch Shell. The company, which was formed in 1998 from the merger of British Petroleum and Amoco, grew by buying Atlantic Richfield Company. BP has proved reserves of 17.8 billion barrels of oil equivalent, including large holdings in Alaska. BP is the largest oil and gas producer in the US and also a top refiner, processing about 3.8 million barrels of crude oil per day. BP operates more than 25,000 gas stations worldwide. With the success of its BP Solar International subsidiary, BP has created an Alternative Energy unit with an initial investment of $1.8 billion to develop green energy sources.
View the Comprehensive Company Description for BP
The Company Description provides a historical perspective of BP's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of BP's evolution in the marketplace.
