About Atlantic Richfield Company Inc
BP is one of the largest oil and gas companies in the world. With proven reserves of approximately 20 million barrels of oil and oil equivalents, BP explores, produces and sells oil and gas, fuels, lubricants, wind power, and biofuels. With presence in some 80 countries, it sells 12 million tons of petrochemical products annually through contracts or via 18,900 retail sites. BP's main brands include the eponymous BP brand, which appears on rigs, offices, and gas stations, gas station-specific brands Amoco (US) and Aral (Germany), lubricant brand Castrol, and gas station convenience store brands ampm and Wild Bean Café.
BP has two major operating segments: Downstream and Upstream. A third segment Rosneft is also reported.
The downstream segment is BP's primary earner, bringing in some 80% of total sales. BP manages the refining, manufacturing, marketing, transportation, and supply and trading of crude oil, petroleum, petrochemicals products, lubricants, and related services to wholesale and retail customers.
Upstream activities (about 20% of revenue) include oil and natural gas exploration, field development and production, transportation, storage and processing. BP also markets and trades LNG and natural gas liquids.
BP's interest in Rosneft is accounted for using the equity method, the biggest oil producer in Russia, and although reported as a separate operating segment it does not contribute to sales.
Other businesses and corporate comprises the biofuels and wind businesses, the group's shipping and treasury functions, and corporate activities worldwide.
BP is headquartered in London. Its upstream business' principal areas of production are Angola, Argentina, Australia, Azerbaijan, Egypt, Oman, Trinidad, the UAE, the UK and the US. In the US, BP has upstream activities in Alaska, Arkansas, Colorado, New Mexico, Oklahoma, Texas and Wyoming.
Downstream, BP has major refineries in the US North West (Cherry Point), Rockies (Whiting and Toledo), as well as refineries in Germany, Netherlands, Spain, South Africa, New Zealand and Australia.
BP is not particularly dependent on any one market, about 30% of its revenue coming from the US and the rest being spread across the world.
Sales and Marketing
BP primarily sells oil and gas through pipelines and by ship, truck and rail, serving 10 million retail customer every day. It has more than 60,000 suppliers, helping it sell about 12 million tons of petrochemical products annually through contracts or via 18,900 retail sites.
Major company brands include eponymous BP, as well as AMOCO, ampm, Aral, and Castrol. With more than 2.5 million customers visit an Aral service station, Aral is one of the most recognized brands in Germany, while BP and Castrol are leading brands of motor oil and lubricants. US retail brand ampm has more than 950 locations throughout the US west coast.
BP's revenue is closely tied to the price of crude oil. The company's revenue has been continuously increasing in the past two years since it plummeted in 2016. However, in 2019, its revenue slightly declined again. Between 2015 and 2019, the company's sales increased by 25%.
In 2019, the company's revenue fell to $278.4 billion, or about 7% lower than the prior year to $298.8 billion.
Net income decreased to $4.0 billion in 2019, a 57% lower compared to $9.4 billion in 2018.
BP's cash at the end 2019 fiscal year was $22.5 billion, a $4 million lower than the previous year. Operating activities provided $25.8 billion while investing activities used $17 billion, mainly from capital expenditures. Financing activities used another $8.8 billion mainly for repayments of long-term financing, repurchase of shares and lease liability payments.
BP's strategy allows the company to be competitive, flexible and resilient while also responding to a rapidly changing energy landscape, with growing expectations for the company to adapt to changing demands from stakeholders.
The company remains committed to managing its portfolio for value, and investing with discipline in flexible and resilient options, which together support its pursuit of a strategy which BP believes it is consistent with the goals of the Paris Agreement.
Growing advantage oil and gas in the Upstream. Invest in oil and gas, producing both with increasing efficiency (lower cost, higher margin and close to markets), with a focus on carbon. Market-led growth in the Downstream. Innovate with advanced products and strategic partnerships, building competitively advantaged businesses that deliver profitable marketing growth. Venturing and low carbon across multiple fronts. Pursue new opportunities to meet evolving technology, consumer and policy trends. Modernizing the whole group. Simplify the company's processes and enhance its productivity through digital solutions.
BP's history dates back to efforts of British companies to capitalize on discoveries of rich oil deposits in Middle East in the late 19th and early 20th Centuries. These included the Anglo-Persian Oil Company (later the Anglo-Iranian Oil Company), in which the British Government took a majority share in 1914. It became British Petroleum in 1954, and, following a number of other acquisitions, became BP in 2000. BP's modern history is marked by the 2010 Deepwater Horizon disaster, a massive spill in the Gulf of Mexico that resulted in the highest fines and penalties in the history of the US.
4 Centerpointe Dr Ste 200
La Palma, CA 90623-1074
Phone: 1 (800) 333-3991
Employer Type: Privately Owned
President: Robert Malone
Employees (This Location): 2,200
Employees (All Locations): 11,200
La Palma, CA
Huntington Beach, CA
La Palma, CA
Los Angeles, CA
Mission Viejo, CA
San Diego, CA
South Gate, CA
Opa Locka, FL
Denver City, TX
White Oak, TX