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BP

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Madison Corr

on 1 November 2013

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Transcript of BP

Notes
Does BP invest in research?
What is corporate social responsibility?

Does BP have a corporate
social Responsibility Program?
Geography
The World's Largest Companies
1. Royal Dutch Shell
2. Exxon Mobil
3. Wal-mart
4. BP
5. Sinopec Group

Definition: The Worlds largest corporations according to revenue and profit annually.


Facts
85,700 Employees in 2012.

Is BP active in all sectors of Industry?
Primary-
Collecting/drilling oil.
Secondary-
Processing and clearing the oil in order for it to be functional.
Tertiary-
selling the oil to consumers.
Quaternary-
further research. Especially on making safer, more eco-efficient energy.

How does BP impact people locally/nationally and globally?
However, BP does have some negative impacts on the local community.

Economical impact on the community:

Although BP does have the power and money to employ workers, there is a possibility that they could make minimal-to-no effort to recruit or train their local workforce

Disruption to the community:

While building a BP station, construction may disturb others in the community. When locals file a complaint they usually go unanswered.

BP Stations may also come as a visual disturbance to those living in the area.

Welcome to our presentation on BP
By Madison Corr and Hannah Inkster
BP headquarters
1 St James's Square, London, Greater London SW1Y 4PD, United Kingdom
Employees
Revenue
US$388.285 billion (2012)
How Does BP impact people locally/nationally and globally?
What does BP produce?
Oil and natural gas
Oil refining
Marketing
Alternative and low carbon energy
BP invests research primarily into bio fuel innovations such as sugar-to-diesel technology. BP has three major research and development centers in the UK.
Corporate social responsibility is the belief a company has in being responsible for its actions socially, ethically, and environmentally.

This means the company is willing to go further than necessary in order to fulfill these important aspects that are commonly affected by businesses.





"We help the world meet its growing need for heat, light and mobility by providing sustainable, secure, diverse and reliable energy solutions. We are committed to creating value through responsible performance, protecting our environment and the communities in which we operate."
BP has many positive and negative impacts on people locally:

BP has positive impacts on the local communities by
1. creating jobs- by providing jobs to the communities, BP lowers the rate of unemployment in the local community. This especially effects indigenous people by supplying greater employment opportunities.

2. Supporting community development projects-
BP being one of the largest companies in the world is able to support other projects in the community. Ex. In the UK, BP has a long term partnerships with the Royal Opera House, National Portrait Gallery, British Museum and the Tate. BP gave an investment of nearly 10 million pounds throughout these projects

Additionally, BP generates tax revenue, and provides more opportunities for local suppliers.


Globally
This being said, BP has globally made some horrific negative impact to the world:

• In April 2010 an explosion on the BP- contracted Deep water Horizon oil drilling rig in the gulf of Mexico killed 11 people and resulted in 4.9m barrels of oil being discharged into the ocean.

• This disaster threatened the lives of marine animals and hundreds of miles of coastline.

• Resulting in more than 8,000 birds, sea turtles, and marine mammals were found injured or dead in the six months after the spill.

• Even now, Although the gushing well was capped in June 2010, oil still washes up on the shores which could cause long term damage to people living in the area.

• Although this disaster occurred in 2010 the oil spill is not fully resolved. The guardian wrote on the 30 of September 2013 that BP could be facing $ 18 billion dollars in fine. As it was said that BP told “outright lies” about the amount of oil that was leaked into the ocean.



The Guardian
30th of Sept. 2013

“The Department of Justice says the claims 4.2m barrels poured from Deep water Horizon after the fatal fire and explosion that claimed 11 lives. BP estimates the figure was closer to 2.4m barrels. The figures will determine the ultimate size of BP's fine, which could be as high as $18bn. In court filings BP has argued the US is using "unproven methods that require significant assumptions and extrapolations" and intends to challenge those figures in court.”

How does the BP impact on the environment locally/nationally/globally

BP try to help their environmental impact by making sure their green house gas levels re not too high as well as take precautions around environmental areas.
Energy Use:
BP is trying to increase their energy efficiency to help them minimize their environmental impact They have created a BP’s Alternative Energy division which was created in 2005. There plan was to invest over 8 billion dollars over a 10 year period to their wind farms in Indiana.
However it was announced on the 3rd April 2013 that BP was shutting down their wind farm, in order to increase their focus on their core oil and gas business. Selling this project will
Result in the company making 38 billion dollars. This is help them to cover the coasts that they are facing as a result of the gulf of Mexico oil spill.http://www.businessgreen.com/bg/news/2258847/bp-puts-us-wind-arm-up-for-sale-as-renewables-retreat-continues

Flaring:
Flaring is used to describe the controlled burning of gas that is released in the oil and gas reservoirs. Otherwise, the controlled burning of waste gas that is released in production, refining and manufacturing operations.
BP works to reduce and eliminate flaring in its operations. To do this they develop new projects to control the burning of gas..


Greenhouse Gas emissions:
It is know that oil and natural gas companies generate greenhouse gases. Greenhouse gases can be released from the extraction and processing of hydrocarbon resources or from transporting resources to consumers.
During these processes the most common greenhouse gas emission comes from the combustion of fossil fuels for energy.
• Although BP claims they help reduce the greenhouse gas emission there are many who can debate otherwise. In 2006 the Guardian newspaper released an article claiming that BP was lying to everyone about how much CO2 they were actually releasing. It was estimated that the CO2 produced by its products was 606m tonnes in 2004, however last year's sustainability report showed 1,376m tonnes of CO2 for 2004. This is double their last figure.
Andrew Simms quotes
"It lacks credibility that with the wave of a methodological wand BP can make 770m tonnes of greenhouse gases disappear."
Friends of the Earth spokesman Mike Childs said, "they are full of green spin but are really just pulling the wool over the public's eyes."
http://www.theguardian.com/environment/2006/apr/21/oilandpetrol.climatechange

BP Production
BP Consumption
As we can see here, the majority of oil is produced in the middle east, followed by Europe and Eurasia
Saudi Arabia and Canada use the greatest amount of BP products.
Primary
BP collects the majority of their oil from oil reserves found in the
middle east
. This being said, BP also collects from across
North and South America, Asia, Africa, and Europe.
Secondary
BP refines all the crude oil they collect in refineries, in order for it to suit a purpose successfully. BP has 15 refineries, and the most prominent can be found in Cherry Point, Wash. USA
Tertiary
BP sells oil all around the world with their primary consumers being, Canada, Saudi Arabia, America, Australia, and the Netherlands.
Quaternary
BP researchers work globally in BP headquarters and offices. At this moment, BP's biggest research missions are taking place in the southern states of America, at Large US, British and Brazilian universities.
Our Opinions
Madison
Hannah
In my opinion I think BP does use its position as one of the biggest companies in the world well by investing in many different projects and helping to educate those less fortunate. However at the same time the BP oil spill was one of the most horrendous oil spills the world had ever seen. Even now, three years later people are still suffering from the consequences of the oil spill. It effected peoples jobs which resulted in a rise in unemployment. It also effect the environment by killing thousands of animals plus their home. I think this disaster puts BP in a very bad place as it greatly impacted two every important factors of live which impacted the whole world. The repairing of damage cause my the oil spill also caused BP to shut down their renewable energy wind farms so they could have enough energy to afford there repairs.
Overall I think the BP oil spill destroyed BPs image and for this I don’t think the company will ever be looked at in a fully positive light again.

In my opinion, BP as one of the World's biggest companies has many pros and cons. BP provides oil to all countries they operate in, which is a large number of 80. This makes oil more easily accessible for people needing to for their cars, motorcycles etc. Additionally, BP invests in a variety of projects that provide those less fortunate with the greater opportunities. This being said, BP has also as a company caused large amounts of destruction. The Deepwater oil spill is a testament to this statement. The spill not only polluted the Gulf of Mexico's waters but also affecting the nearby population negatively. Years after the spill, we still hear about victims who were and still are tormented by the disastrous effects. In the long run, I believe devastation's like this often outweigh the benefits of a company and commonly give it a negative image.

Although BPs products have proved useful, I trust the negative impact they have caused on the environment and society have not only outweighed the companies positive achievements but, have consequently lead to long term unemployment and vast pollution of an important habitat.
BP's research is most commonly on how they can improve the future of oil, and their research into renewable energy. BP commonly researches information about their own situations eg. The Deepwater oil spill, and how it affected the environment, and ways to prevent future issues.
BP
BP has lots of different project that they have invested in to help the world.
BP’s renewable energy projects are one of their biggest operations. BP has interest in 16 operating wind farms, which are located in 9 states. These wind farms have generating approximately 2,600 megawatts of renewable energy. This is enough to power 775,000 homes in America.
BP globally effected the environment to a large scale in 2010. The BP Gulf of Mexico oil spill was one of the worst oil spills in history. Resulting in 170 million gallons of oil being releasing in to the ocean. This ocean is home to almost 600 different marine species.
Marine life was severely effected by the spill. More than 8,000 birds, sea turtles, and marine mammals were found injured or dead in the six months after the spill. However these are just the animals we can see, there are complex ecosystems deep beneath the ocean that died as a result of being flooded with oil. Scientist tried to save as many animals as they could by cleaning the oil off the animals however many were unsuccessful. The deep sea coral was also effected by the spill. A survey of one of the sites near the well in the Gulf of Mexico uncovered pollution damage. There were coral communities about 1,220 meters below the surface which appeared to be stressed and discolored.
Another impact was created by some of the oil clumping together to form tar balls. These balls of tar were washed up on the beach and impacted the local wild life.

Impacts on the environment Globally
The BP oil spill effected people in a very negative way. One of the major globally impacts that the oil spill created was ruining the seafood industry . Fisherman are not able to provide for there companies and homes leaving them unemployed and earning no money. Even now in 2013 three years after the spill consumers are still suspicious of how clean the fish actually is or if they still contain oil. There are still sick fish turning up on Louisiana shores. Florida's fishermen catch more than 84 percent of the nation’s supply of grouper, pompano, mullet, stone crab, pink shrimp and many more. This totals in more than $200 million dollars annually. However when the oil spill occur this resulted in a third of the gulf being shut down. But what really hurt the gulfs $460 million seafood industry was the publicity. As images of the oil infested ocean was played on every tv set around the world, customers were scared of ordering fish or shrimp caught anywhere near the gulf. Restaurants were forced to take it off their menus and supermarkets removed it from their cooler. Even fish that had been caught in areas declared safe were off the shelves.
http://www.tampabay.com/news/environment/wildlife/seafood-industry-still-holding-its-breath-as-scientists-explore-impact-of/2115038

Globally
BP sells their products in
80
countries around the World.
BP also contributes to education initiatives. Such as in Angola, BP is partnered with the Angolan Association for the Visually Impaired and Partially Sighted War Victims.
“The project trains braille instructors who then go out into communities to pass on their skills to visually impaired war veterans and children facing social exclusion.”
These are only a few of their man contributions to community.
The amount of money that a company receives during a specific period of time.
Full transcript