Vintage photo of BP's head office at Britannic House Skyscraper in London

Product Information

Ariel Flores, Regional President for BP’s North Sea business, said: “Safely delivering first oil from Clair Ridge, in some of the harshest conditions in the UKCS, is the result of years of planning and hard work by BP, our partners and supply chain colleagues. We are proud to have played our part in this pioneering project and are excited for the Clair region’s continued potential.” As Bernard will explain, bp has been performing well since we began this transformation journey in 2020. The father of Ali Hussein Jaloud, who died days before the meeting from a form of leukaemia that has been linked to chemicals released by flaring gas, asked BP why it could not use its profits to help save his son’s life. Retail operations of motor vehicle fuels in Europe are present in the United Kingdom, France, Germany (through the Aral brand), the Netherlands, Switzerland, Italy, Austria, Poland, Greece and Turkey. [246] [247] [248] The first phase of development of Clair began production in 2005, targeting approximately 300 million barrels of recoverable resources via the first fixed offshore facility to be installed in the West of Shetland area.

The National Portrait Gallery reserves the right to withdraw or amend the competition as necessary due to circumstances outside its control. The start of production of Clair Ridge follows the start-up earlier in 2018 of five other Upstream major projects: Atoll Phase One, offshore Egypt, Shah Deniz 2 gas development in Azerbaijan, TAAS expansion project in Russia, Western Flank B offshore Western Australia and Thunderhorse Northwest Expansion in the Gulf of Mexico. They have led bp through a volatile period – through a pandemic, a war in Europe, and a global energy shortage. Dr Andy Samuel, Chief Executive at the Oil and Gas Authority said: “First oil from the newly built Clair Ridge platform is a major milestone for the UKCS. The OGA continues to view the West of Shetland as strategically important with substantial remaining potential. The Clair Field has in excess of 7 billion barrels in place and is expected to sustain production for many decades to come, with significant scope for further phases of development. We welcome BP’s ongoing commitment to MER UK.”In 1934, APOC and Gulf Oil founded the Kuwait Oil Company as an equally owned partnership. The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936. [41] [42] In 1935, Rezā Shāh requested the international community to refer to Persia as ' Iran', which was reflected in the name change of APOC to the Anglo-Iranian Oil Company (AIOC). [43] Third, while oil and gas will still be needed for decades to come, they will be increasingly challenged.

Whether you are among those who have stayed with bp as we continue our transition to become an integrated energy company.

18. bp - London Borough of Lewisham

Paula Reynolds will then make some remarks on remuneration. And Ben Mathews will cover the procedural arrangements for today’s meeting.

That realisation was consistent with what we were hearing from governments, customers, investors, and the markets. Clair Ridge is the first offshore deployment of BP’s enhanced oil recovery technology, LoSal®, which has the potential to increase oil recovery from reservoirs by using reduced salinity water in water injection. This is expected to result in up to 40 million additional barrels being cost-effectively recovered over the lifetime of the development.By entering the competition, all entrants will be deemed to have accepted and agreed to be bound by these rules. Further information: Anglo-Iranian Oil Company and Iraq Petroleum Company William Knox D'Arcy A BP Motor Spirit advertisement from 1922 More than half of the Clair Ridge contracts – 71 out of 122 – have been placed with UK-registered companies. The winning entrant will be chosen at random by the National Portrait Gallery from all completed and valid entries received by the closing date. The decision is final and non-negotiable. In September 2020, BP formed a partnership with Equinor to develop offshore wind and announced it will acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms. The deal is expected to be completed at the first half of 2021. [167] In December 2020, BP acquired a majority stake in Finite Carbon, the largest forest carbon offsets developer in the United States. [168]

Walters was replaced by Robert Horton in 1990. Horton carried out a major corporate downsizing exercise, removing various tiers of management at the head office. [81] In 1992, British Petroleum sold off its 57% stake in BP Canada ( upstream operations), which was renamed as Talisman Energy. [82] John Browne, who had joined BP in 1966 and rose through the ranks to join the board as managing director in 1991, was appointed group chief executive in 1995. [83] In recent months I have enjoyed meeting many shareholders, for discussions on the topics of greatest importance to them. Following World War II, nationalistic sentiments were on the rise in the Middle East; most notable being Iranian nationalism, and Arab Nationalism. In Iran, the AIOC and the pro-western Iranian government led by Prime Minister Ali Razmara resisted nationalist calls to revise AIOC's concession terms in Iran's favour. In March 1951, Razmara was assassinated and Mohammed Mossadeq, a nationalist, was elected as the new prime minister by the Majlis of Iran (parliament). [47] In April 1951, the Iranian government nationalised the Iranian oil industry by unanimous vote, and the National Iranian Oil Company (NIOC) was formed, displacing the AIOC. [48] [49] The AIOC withdrew its management from Iran, and Britain organised an effective worldwide embargo of Iranian oil. The British government, which owned the AIOC, contested the nationalisation at the International Court of Justice at The Hague, but its complaint was dismissed. [50] Drivers on Uber’s platform need great value access to the fast, reliable charging infrastructure we’re building as they make the switch to electric. We’re investing billions of dollars worldwide in high-speed EV charging, digital products and services, and large scale bp pulse Gigahubs™ that will help commercial customers eliminate tailpipe emissions. After that, we look forward to responding to your questions on the resolutions the board has put to shareholders today.In response to the 2022 Russian invasion of Ukraine, BP announced that it would sell its 19.75% stake in Rosneft, although no timeline was announced. [169] At the time of BP's decision, Rosneft's activities accounted for around half of BP's oil and gas reserves and a third of its production. [170] BP's decision came after the British government expressed concern about BP's involvement in Russia. [171] [172] However, BP remained a Rosneft shareholder throughout the whole 2022 year, which caused some criticism from the Ukrainian president's office. [173] All of which were foundational for bp’s subsequent reinvention and launch of bp’s new strategy in 2020. Industry-first dynamically positioned flotel (floating accommodation) West of Shetland to support the commissioning work.