Lord John Browne's exit in disgrace from BP last week was blared in bawdy headlines that effectively read "gay affair exposed." The debate since has focused on whether his private life was fair game and relevant to his public life as CEO.
BP announced early this morning that its third-quarter profits more than doubled as a result of high oil prices, earning them $4.9 billion, and bringing their total profits earned in 2011 to nearly $16 billion.
The oil spill in the Gulf of Mexico was an avoidable disaster caused in part by a series of cost-cutting decisions made by BP and its partners, the White House oil commission has concluded.
BP's share price is tumbling, as its expected liabilities from the spill – estimated at anywhere up to $40bn (£27bn) – climb so high that the financial markets are giving the company's debt a "junk" rating.
BP is accused of destroying the wildlife and coastline of America, but if you look back into history you find that BP did something even worse to America. They gave the world Ayatollah Khomeini.
For some time, Greenpeace has been covering BP’s greenwashing schemes. However, now that they are responsible for what could become the largest oil spill in U.S. history, we felt that recapping on their long history of environmental ploys is vital. Perhaps not all of BP’s deception has been as serious as their gross underestimate of how much oil is truly pouring from their rig.
In the light of British Petroleum’s grotesque crime, as yet unfinished, against humanity in the Gulf of Mexico, it is well to recall briefly BP’s no less hideous crime perpetrated in its earlier incarnation as the Anglo-Persian Oil Company (APOC) and, later, the Anglo-Iranian Oil Company (AIOC).
Hurricane Dennis had already come and gone on July 11, 2005, when a passing ship spotted a shocking sight in the Gulf of Mexico: Thunder Horse, BP’s hulking $1 billion oil platform, was listing precariously to one side, looking for all the world as if it were about to sink.
as oil prices hover around the $100-per-barrel mark, Lord Browne's successor, Tony Hayward, announced that BP has entered a joint venture with Husky Energy, owned by the Hong Kong based billionaire Li Ka-Shing, to develop a tar sands facility which will be capable of producing 200,000 barrels of crude a day by 2020.
BP, the British oil giant that pledged to move "Beyond Petroleum" by finding cleaner ways to produce fossil fuels, is being accused of abandoning its "green sheen" by investing nearly 1.5bn to extract oil from the Canadian wilderness using methods which environmentalists say are part of the "biggest global warming crime" in history.
One of the five largest oil companies in the world, The British Petroleum Company plc (BP) is the United Kingdom's largest corporation. The pioneer of the Middle Eastern oil industry, BP discovered oil in Iran before World War I and eventually became involved in all aspects of the oil industry, from exploration to marketing. By the mid-1990s, it was producing over 1.2 million barrels of oil and 1.5 million cubic feet of natural gas every day.