BP plc

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  • 427.88p
  • -5.80p (-1.34%)

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BP share price: Group divests stake in SECCO

BP share price: Group divests stake in SECCO

Oil major to get $1.68bn for 50-percent interest

1 hour ago

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About BP plc

BP, sometimes referred to by its former name British Petroleum, is an integrated oil and gas company producing fuel for transportation, energy for heat and light, lubricants and petrochemicals. It is headquartered in London, the United Kingdom.
The company, founded in 1909 by Royal Dutch Shell, operates in two business segments: Exploration and Production, and Refining and Marketing. The group also has an Alternative Energy business. BP has operations in around 80 countries around the world. As of December 2012, BP had a total of 79,700 employees.
The latest company acquisitions include 5.66% interest in OAO Neftyanaya Kompaniya Rosneft (effective March 21, 2013). UGI Corp announced in September 2013 that its subsidiary Flaga GmbH, has completed the acquisition of the BP's liquefied petroleum gas (LPG) distribution business in Poland.
Robert W. Dudley is BP's Chief Executive Officer. BP was fifth-largest company in the world in terms of 2012 revenues, and the sixth largest oil and gas company measured by 2012 output.
At the end of 2012, BP had operations in over 80 countries, produced around 3.3 million barrels per day of oil equivalent, had total proven reserves of 17 billion barrels of oil equivalent, and had around 20,700 service stations.
BP is listed on the London Stock Exchange (LON:BP) where it is a constituent of the FTSE 100 Index. The company has a secondary listing on the New York Stock Exchange (NYSE:BP).
The UK government privatised the formerly majority state-owned company in stages between 1979 and 1987. British Petroleum merged with Amoco in 1998 and acquired ARCO and Burmah Castrol in 2000.
BP has been involved in several major environmental and safety incidents, including the 2005 Texas City Refinery explosion, Britain's largest oil spill, the wreck of Torrey Canyon, the 2006 Prudhoe Bay oil spill, the largest oil spill on Alaska's North Slope, and the 2010 the Deepwater Horizon oil spill off the US coast, the largest accident of this kind in the history of the oil industry.

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