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BP

This article is about the corporation known as BP. See also BP (disambiguation)

BP (formerly "British Petroleum" and briefly known as "BP Amoco") LSE: BP, NYSE: BP is a petroleum company headquartered in London, and one of the top four oil companies in the world (along with Shell, ExxonMobil, and Total).

In December 1998, BP merged with the American Oil Company (Amoco), forming "BP Amoco". However, this move was widely viewed as a purchase of Amoco by BP, only officially described as a merger for legal reasons. Indeed, after a single year of joint operations, the two giants merged most operations and "Amoco" was dropped from the name. The newly-renamed "BP" became an initialism no longer standing for "British Petroleum", and used the tagline "Beyond Petroleum" in advertising campaigns (this perhaps to disguise the company's foreign ownership after its extensive acquisitions and increased presence in the United States, as British Aerospace became "BAE Systems" for similar reasons). Its BP Solar division has become a world-leading producer of solar panels.

BP is the leading partner in the controversial Baku-Tbilisi-Ceyhan pipeline.

History

1909 - 1955

In May 1901, William Knox D'Arcy was granted a concession by the Shah of Persia to search for oil, which he found in May 1908. This was the first commercially significant find in the Middle East. In 1909, the Anglo-Persian Oil Company was created to exploit this find. The company grew slowly until World War I when its strategic importance led the British Government to acquire a controlling interest in the company and it became the Royal Navy's chief source of fuel oil during World War I.

In 1917, the war allowed it to take the British arm of the German Europäische Union, which used the trade name British Petroleum. After the war ended the company, in which the British Government now had a 51% interest, moved to secure outlets in Europe and elsewhere. but its main concern was still Persia, following the Anglo-Persian Agreement of 1919 the company continued to trade profitably in that country.

In 1931, partly in response to the difficult economic conditions of the times, BP merged their marketing operations in the United Kingdom (only) with those of Shell-Mex Ltd to create Shell-Mex and BP Ltd a company that continued to trade until the Shell and BP brands separated again in 1975.

There was growing dissent within Persia however at the imperialist and unfair position that APOC occupied. In 1932, the Shah terminated the APOC concession. The concession was resettled within a year, covering a reduced area with an increase in the Persian government's share of profits. Persia was renamed Iran in 1936 and APOC became AIOC, the Anglo-Iranian Oil Company.

Following the turmoil of World War II, AIOC and the Iranian government resisted nationalist pressure to come to a renewed deal in 1949. In March 1951, the pro-western Prime Minister Ali Razmara was assassinated and in April, a bill was passed nationalising the oil industry and the AIOC and the Shah were forced to leave the country.

The AIOC took its case against the nationalisation to the International Court of Justice at The Hague, but lost the case. However the governments of Britain and the US were concerned about the encroachment of Soviet influence in the area and assisted in a plot against the Iranian administration. They installed pro-Western General Fazlollah Zahedi as prime minister of Iran.

On August 19, 1953, the incumbent Prime Minister, Mohammed Mossadeq, was forced from office and replaced by Zahedi and the Shah was recalled. The AIOC became The British Petroleum Company in 1954, and briefly resumed operations in Iran with a forty per cent share in an new international consortium. BP continued to operate in Iran until the Islamic Revolution. However, due to a large investment programme outside Iran, the company survived the loss of its Iranian interests at that time.

1960s and 1970s

The BP logo used from 1989 to 2002.

From the late 1960s the company looked beyond the Middle East to the USA (Prudhoe Bay, Alaska) and the North Sea. Both of these fields came on stream in the mid-1970s transforming the company and allowing BP to weather the OPEC-induced oil price shocks of 1973 and 1979. In 1969, BP acquired the Valdez oil terminal, Alaska, from the Chugach for $1. Some natives contend that this was an illegal transfer.

In the mid-1970s, BP acquired Standard Oil of Ohio or Sohio.

1980s and 1990s

BP filling station

P.I. Walters (later Sir Peter Walters) was BP's chairman from 1981 to 1990. Walters promoted a movement to deintegrate company operations based solely upon economic considerations: "For me, there is no strategy that is divorced from profitability," he once remarked. Under his chairmanship British Petroleum led the oil industry away from an era dominated by vertical integration and the supply planning this required toward a corporate culture that emphasised trading and decentralisation (Daniel Yergin, The Prize [Simon & Schuster, 1991], pp. 722-23).

In 1987, British Petroleum acquired Britoil and those shares of Standard Oil of Ohio (Sohio) not already owned. In 1994, BP and Petroleos de Venezuela SA (PDVSA) began marketing Orimulsion®, a bitumen-based fuel. John Browne, Lord Browne of Madingley, who had been on the board as managing director since 1991, was appointed group chief executive in 1995.

Present

Chief Scientist of BP, Steven Koonin (top right, with computer), speaks about the energy scene in the boardroom in 2005.

British Petroleum merged with Amoco (Formerly Standard Oil of Indiana), in December 1998, becoming BPAmoco until 2002, when it was renamed BP, with no meaning given to the letters. Most Amoco gas stations in the United States are in the process of changing the look and name to BP. However in some states, BP is selling Amoco-branded gasoline (while the name of the station itself is BP). In 2000, British Petroleum also acquired Arco (Atlantic Richfield Co.) and Burmah Castrol plc.


On March 23, 2005, an explosion occurred at a petroleum refinery in Texas City, Texas, that belonged to BP. It is the third largest refinery in the United States and one of the largest in the world, processing 433,000 barrels of crude oil per day and accounting for 3% of that nation's gasoline supply. Over 100 were injured, and 15 were confirmed dead, including employees of the Fluor Corporation as well as BP. BP has since accepted that its employees contributed to the accident by leaving octane for petrol unit unsupervised. The pressure in the units then reached unsustainable levels leading to the explosion. [1]

BP America, the United States arm of BP, was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine.

Image

Solar panel made by BP Solar

In 2002 the company was renamed BP, with no meaning given to the letters. Its new slogan, "Beyond Petroleum", was accompanied by the rebranding of its famous "Green Shield" logo in favour of the helios symbol (a green and yellow sunburst) to emphasise the company's focus on environmentally friendly fuels and alternative energy. This is intended to move BP away from the negative environmental image of most oil companies.

BP is a leading producer of solar panels since its purchase of Lucas Energy Systems in 1980 and Solarex (as part of its acquisition of Amoco) in 2000. BP Solar had a 20% world market share in photovoltaic panels in 2004 when it had a capacity to produce 90 MW/year of panels. It has over 30 years experience operating in over 160 countries with manufacturing facilities in the U.S., Spain, India and Australia and has more than 2000 employees worldwide.

In February 2002 BP's chief executive, Lord Browne, renounced the practice of corporate campaign contributions, noting: "That's why we've decided, as a global policy, that from now on we will make no political contributions from corporate funds anywhere in the world." [2]

In March 2002 BP's chief executive, Lord Browne, declared in a speech that global warming was real and that urgent action was needed, saying that "Companies composed of highly skilled and trained people can't live in denial of mounting evidence gathered by hundreds of the most reputable scientists in the world.".[3] In 2005 BP was considering testing carbon sequestration in one of its North Sea oil fields, by pumping carbon dioxide into them (and thereby also increasing yields).[4]

In 2004, BP began marketing low-sulphur diesel fuel for industrial use. BP is committed to creating a network of hydrogen fuelling station in the state of California.

However, BP's image has been tarnished somewhat by its involvement with the controversial Baku-Tbilisi-Ceyhan pipeline, criticised for human rights abuses, environmental and safety concerns.


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However, BP's image has been tarnished somewhat by its involvement with the controversial Baku-Tbilisi-Ceyhan pipeline, criticised for human rights abuses, environmental and safety concerns. IT insiders foresee the case to be a landmark ruling in what is a fiercely competitive market. BP is committed to creating a network of hydrogen fuelling station in the state of California. Whilst proving that Intel holds a monopoly is simple (the company is reckoned to have an 80-90% share of the processor market) the debate over the 'scare and coercion' tactics supposedly employed by Intel is likely to be more protracted. In 2004, BP began marketing low-sulphur diesel fuel for industrial use. Amongst other accusations AMD alleged that Intel was unlawfully maintaining its monopoly through unfair business practices, such as drastically lower pricing for customers on the condition that Intel microprocessors were used exclusively in their systems. In March 2002 BP's chief executive, Lord Browne, declared in a speech that global warming was real and that urgent action was needed, saying that "Companies composed of highly skilled and trained people can't live in denial of mounting evidence gathered by hundreds of the most reputable scientists in the world.".[3] In 2005 BP was considering testing carbon sequestration in one of its North Sea oil fields, by pumping carbon dioxide into them (and thereby also increasing yields).[4]. In June of 2005 AMD, Intel's chief rival in the x86 microprocessor market, filed an antitrust claim against Intel and its Japanese subsidiary in a Delaware court.

In February 2002 BP's chief executive, Lord Browne, renounced the practice of corporate campaign contributions, noting: "That's why we've decided, as a global policy, that from now on we will make no political contributions from corporate funds anywhere in the world." [2]. the Green Line) and therefore is not considered disputed territory. It has over 30 years experience operating in over 160 countries with manufacturing facilities in the U.S., Spain, India and Australia and has more than 2000 employees worldwide. In fact, the city of Kiryat Gat (where the plant is located) lies well within the pre-1967 borders of Israel (a.k.a. BP Solar had a 20% world market share in photovoltaic panels in 2004 when it had a capacity to produce 90 MW/year of panels. Intel's massive manufacturing plant in Israel was built, with the help of heavy subsidies from Israel, on lands that Palestinians claim were confiscated from them. BP is a leading producer of solar panels since its purchase of Lucas Energy Systems in 1980 and Solarex (as part of its acquisition of Amoco) in 2000. As well, Intel is accused by Palestinians of collusion with Israel in supporting them in holding on to land confiscated illegally from the Palestinians.

This is intended to move BP away from the negative environmental image of most oil companies. In contrast with other hi-tech companies such as Microsoft, Intel does not allow discounted purchases of any kind by staff. Its new slogan, "Beyond Petroleum", was accompanied by the rebranding of its famous "Green Shield" logo in favour of the helios symbol (a green and yellow sunburst) to emphasise the company's focus on environmentally friendly fuels and alternative energy. However, Intel's working practices still face criticism,the company is notorious for paying extremly low wages and workplace bullying is common. In 2002 the company was renamed BP, with no meaning given to the letters. In addition, the company was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine. BP America, the United States arm of BP, was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine. They have maintained this rating in 2003 and 2004.

[1]. Intel received a 100% rating on the first Corporate Equality Index released by the Human Rights Campaign in 2002. The pressure in the units then reached unsustainable levels leading to the explosion. Its market capitalisation is about $154 billion (March 2005). BP has since accepted that its employees contributed to the accident by leaving octane for petrol unit unsupervised. However, Intel was already trademarked by a hotel chain so they had to buy the rights for that name at the beginning. Over 100 were injured, and 15 were confirmed dead, including employees of the Fluor Corporation as well as BP. They then used the name NM Electronics for almost a year, before deciding to call their company INTegrated ELectronics or "Intel" for short.

It is the third largest refinery in the United States and one of the largest in the world, processing 433,000 barrels of crude oil per day and accounting for 3% of that nation's gasoline supply. But the name didn't sound good in electronics—noise being associated with bad interference.
On March 23, 2005, an explosion occurred at a petroleum refinery in Texas City, Texas, that belonged to BP. At its founding, Gordon Moore and Robert Noyce wanted to name their new company 'Moore Noyce'. In 2000, British Petroleum also acquired Arco (Atlantic Richfield Co.) and Burmah Castrol plc. Grove stepped down as Chairman, but will be retained as a special advisor. However in some states, BP is selling Amoco-branded gasoline (while the name of the station itself is BP). The board of directors elected Otellini, and Barrett replaced Grove as chairman of the board.

Most Amoco gas stations in the United States are in the process of changing the look and name to BP. The changes were made effective May 18, 2005. British Petroleum merged with Amoco (Formerly Standard Oil of Indiana), in December 1998, becoming BPAmoco until 2002, when it was renamed BP, with no meaning given to the letters. Barrett, in turn, will retire in 2005 and hand the reigns of the company over to Paul Otellini, who is also already the company president and was responsible for Intel's design win in the original IBM PC. John Browne, Lord Browne of Madingley, who had been on the board as managing director since 1991, was appointed group chief executive in 1995. In 1997 Grove succeeded Moore as Chairman and Craig Barrett, already company president, took over. In 1994, BP and Petroleos de Venezuela SA (PDVSA) began marketing Orimulsion®, a bitumen-based fuel. Andy Grove became the company's President in 1979 to which he added the CEO title in 1987 when Moore became Chairman.

In 1987, British Petroleum acquired Britoil and those shares of Standard Oil of Ohio (Sohio) not already owned. Robert Noyce was Intel's CEO at its founding in 1969, followed by co-founder Gordon Moore in 1975. 722-23). Legal experts predict the lawsuit will most likely drag out for a number of years since Intel's response indicates they are not likely to try and settle with AMD. Under his chairmanship British Petroleum led the oil industry away from an era dominated by vertical integration and the supply planning this required toward a corporate culture that emphasised trading and decentralisation (Daniel Yergin, The Prize [Simon & Schuster, 1991], pp. In its rebuttal, Intel layed out the skeleton of its legal defense which included a deconstruction of AMD's offensive strategy and levied the charge that AMD's long struggling market position is largely a result of bad business decisions and management incompetence including underinvestment in essential manufacturing capacity and over-reliance on outsourcing chip foundries.[2]. Walters promoted a movement to deintegrate company operations based solely upon economic considerations: "For me, there is no strategy that is divorced from profitability," he once remarked. Intel filed its response[1] in September to AMD's lawsuit and refuted AMD's claims, stating that its business practices are fair and lawful.

Walters (later Sir Peter Walters) was BP's chairman from 1981 to 1990. The case in Japan led to "dawn raids" by the European Commission on some European Intel offices in July 2005. P.I. The Japanese Fair Trade Commission found in favour of AMD; the other case will be heard by a court in Delaware. In the mid-1970s, BP acquired Standard Oil of Ohio or Sohio. In June 2005, AMD sued Intel in two jurisdictions for anti-competitive practices. Some natives contend that this was an illegal transfer. Some smaller competitors such as Transmeta produce low-power processors for portable equipment.

In 1969, BP acquired the Valdez oil terminal, Alaska, from the Chugach for $1. Currently, the only major competitor to Intel on the x86 processor market is Advanced Micro Devices (AMD), with which Intel has had full cross-licensing agreements since 1976: each partner can use the other's patented technological innovations without charge. Both of these fields came on stream in the mid-1970s transforming the company and allowing BP to weather the OPEC-induced oil price shocks of 1973 and 1979. Intel's market dominance (at one time it controlled over 85% of the market for 32-bit PC microprocessors), combined with Intel's own hardball legal tactics (such as its infamous 338 patent suit versus PC manufacturers) made it an attractive target for litigation, but few of the lawsuits ever amounted to anything. From the late 1960s the company looked beyond the Middle East to the USA (Prudhoe Bay, Alaska) and the North Sea. Intel's dominance in the x86 microprocessor market led to numerous charges of antitrust violations over the years, including FTC investigations in both the late 1980s and in 1999, and civil actions such as the 1997 suit by Digital Equipment Corporation (DEC) and a patent suit by Intergraph. However, due to a large investment programme outside Iran, the company survived the loss of its Iranian interests at that time. The switchover to Intel will begin in mid 2006, reportedly appearing first in Apple's low-end machines and portables.

BP continued to operate in Iran until the Islamic Revolution. In particular, the large power requirement of the G5 chips was seen as a major stumbling block, preventing the placement of such a chip in one of Apple's laptop computers, the PowerBook and iBook. The AIOC became The British Petroleum Company in 1954, and briefly resumed operations in Iran with a forty per cent share in an new international consortium. Also, it was implied that the future PowerPC roadmap was unable to satisfy Apple's needs in terms of computing power. On August 19, 1953, the incumbent Prime Minister, Mohammed Mossadeq, was forced from office and replaced by Zahedi and the Shah was recalled. Reasons stated for the change were vague, but included thermal issues, as recent G5-class PowerPC chips are well-known for running hot. They installed pro-Western General Fazlollah Zahedi as prime minister of Iran. On June 6, 2005, Apple Computer CEO Steve Jobs announced in his keynote address at WWDC that Apple would be switching from its long-favored PowerPC Architecture to Intel CPUs.

However the governments of Britain and the US were concerned about the encroachment of Soviet influence in the area and assisted in a plot against the Iranian administration. The competition between Intel and Microsoft was revealed in testimony at the Microsoft anti-trust trial. The AIOC took its case against the nationalisation to the International Court of Justice at The Hague, but lost the case. IAL's software efforts met with a more mixed fate; its video and graphics software was important in the development of software digital video, but later its efforts were largely overshadowed by competition from Microsoft. In March 1951, the pro-western Prime Minister Ali Razmara was assassinated and in April, a bill was passed nationalising the oil industry and the AIOC and the Shah were forced to leave the country. During the 1990s, Intel's Intel Architecture Labs (IAL) was responsible for many of the hardware innovations of the personal computer, including the PCI Bus, the PCI Express (PCIe) bus, the Universal Serial Bus (USB), and the now-dominant architecture for multi-processor servers. Following the turmoil of World War II, AIOC and the Iranian government resisted nationalist pressure to come to a renewed deal in 1949. When the PC industry exploded in the late 1980s and 1990s, Intel was the primary beneficiary.

Persia was renamed Iran in 1936 and APOC became AIOC, the Anglo-Iranian Oil Company. Until then, manufacture of complex integrated circuits was not reliable enough for customers to depend on a single supplier, but Grove began producing processors in three geographically-distinct factories, and ceased licensing the chip designs to competitors such as Zilog and AMD. The concession was resettled within a year, covering a reduced area with an increase in the Persian government's share of profits. A key element of his plan was the notion, then considered radical, of becoming the single-source for successors to the popular 8086 microprocessor. In 1932, the Shah terminated the APOC concession. Grove described this transition in the book Only the Paranoid Survive. There was growing dissent within Persia however at the imperialist and unfair position that APOC occupied. In 1983, at the dawn of the personal computer era, Intel's profits came under increased pressure from Japanese memory-chip manufacturers, and then-President Andy Grove drove the company into a focus on microprocessors.

In 1931, partly in response to the difficult economic conditions of the times, BP merged their marketing operations in the United Kingdom (only) with those of Shell-Mex Ltd to create Shell-Mex and BP Ltd a company that continued to trade until the Shell and BP brands separated again in 1975. (Note: Intel is usually given credit with Texas Instruments for the almost-simultaneous invention of the microprocessor). but its main concern was still Persia, following the Anglo-Persian Agreement of 1919 the company continued to trade profitably in that country. Originally developed for the Japanese company Busicom to replace a number of ASIC's in a calculator already produced by Busicom, the Intel 4004 was introduced to the mass market on November 15, 1971, though the microprocessor did not become the core of Intel's business until the mid-1980s. After the war ended the company, in which the British Government now had a 51% interest, moved to secure outlets in Europe and elsewhere. Concurrently, Intel engineers Marcian Hoff, Federico Faggin, Stanley Mazor and Masatoshi Shima invented the first microprocessor. In 1917, the war allowed it to take the British arm of the German Europäische Union, which used the trade name British Petroleum. The company's first products were random-access memory integrated circuits, and Intel grew to be a leader in the fiercely competitive DRAM, SRAM, and ROM markets throughout the 1970s.

The company grew slowly until World War I when its strategic importance led the British Government to acquire a controlling interest in the company and it became the Royal Navy's chief source of fuel oil during World War I. Intel by the end of the 1990s was one of the largest and most successful businesses in the world, though fierce competition within the semiconductor industry has since diminished its position somewhat. In 1909, the Anglo-Persian Oil Company was created to exploit this find. It is Grove who is now remembered as the company's key leader. This was the first commercially significant find in the Middle East. Intel's employee number four was Andy Grove (a chemical engineer), who ran the company through much of the 1980s and the high-growth 1990s. In May 1901, William Knox D'Arcy was granted a concession by the Shah of Persia to search for oil, which he found in May 1908. It is noteworthy that Intel competitor AMD was also founded by Fairchild defectors, in 1969.

. Moore (a chemist and physicist) and Robert Noyce (a physicist and co-inventor of the integrated circuit) when they left Fairchild Semiconductor. BP is the leading partner in the controversial Baku-Tbilisi-Ceyhan pipeline. Intel was founded in 1968 by Gordon E. Its BP Solar division has become a world-leading producer of solar panels. . The newly-renamed "BP" became an initialism no longer standing for "British Petroleum", and used the tagline "Beyond Petroleum" in advertising campaigns (this perhaps to disguise the company's foreign ownership after its extensive acquisitions and increased presence in the United States, as British Aerospace became "BAE Systems" for similar reasons). Intel has advanced research projects in all aspects of semiconductor manufacturing, including MEMS.

Indeed, after a single year of joint operations, the two giants merged most operations and "Amoco" was dropped from the name. Intel also makes networking cards, motherboard chipsets, components, and other devices. However, this move was widely viewed as a purchase of Amoco by BP, only officially described as a merger for legal reasons. Intel Corporation (NASDAQ: INTC) (founded 1968) is a U.S.-based multinational corporation that is best known for designing and manufacturing microprocessors and specialized integrated circuits. In December 1998, BP merged with the American Oil Company (Amoco), forming "BP Amoco". GSTI Software Index. BP (formerly "British Petroleum" and briefly known as "BP Amoco") LSE: BP, NYSE: BP is a petroleum company headquartered in London, and one of the top four oil companies in the world (along with Shell, ExxonMobil, and Total). SOX (PHLX Semiconductor Sector).

Nasdaq 100. S&P 500. Dow Industrials. Intel is publicly traded at NASDAQ with the symbol INTC.