BP Plc is one of the world's largest oil and gas companies. The company's operations primarily include the exploration and production of gas and crude oil, as well as the marketing and trading of natural gas, power, and natural gas liquids (NGLs). BP operates in 70 countries across Europe, Asia Pacific, Africa, and the Americas.
BP operates through three reportable business segments: Downstream; Upstream; Rosneft; and Other Businesses and Corporate.
The Downstream segment is the product and service-led arm of BP, focused on fuels, lubricants, and petrochemicals. The company's downstream activities include the refining, manufacturing, marketing, transportation, and supply and trading of crude oil, petroleum, petrochemicals products and related services to wholesale and retail customers. The segment has significant operations in Europe, North America and Asia, and also manufactures and markets products in Australasia, Africa and Central and South America.
The company's fuels business includes fuels value chains (FVCs) including refineries, fuels marketing businesses, and global oil supply and trading activities. The company sells refined petroleum products including gasoline, diesel, aviation fuel, and liquefied petroleum gas (LPG). The lubricants business manufactures and markets lubricants and related products and services globally, adding value through brand, technology, and relationships, such as collaboration with original equipment manufacturing partners. The company's lubricants business manufactures and markets lubricants and related products and services to the automotive, industrial, marine, aviation, and energy markets across the world. Its key brands are Castrol, BP, and Aral.
The petrochemicals business manufactures products at locations around the world, using proprietary BP technology. These products are then used by others to make consumer products such as paint, plastic bottles, and textiles. In the petrochemicals business, BP manufacture and market four main product lines: purified terephthalic acid (PTA); paraxylene; acetic acid; and olefins and derivatives. The company also produces a number of other specialty petrochemicals products. During FY2016, the company produced a total of 14.2 million tons of petrochemicals with a production capacity of 18.6 million tons.
At December 31, 2016, BP owned or had a share in 11 refineries producing refined petroleum products that it supplies to retail and commercial customers. The company refined approximately 1.7 million barrels of oil per day in FY2016. In FY2016, BP's crude distillation capacity was approximately 1.9 million barrels per day (bpd). BP supplies fuel and related convenience services to consumers at approximately 18,000 BP-branded retail sites in over 72 countries.
In FY2016, the Downstream segment reported revenues of $166,392 million, which accounted for 90.9% of the company's total revenue.
The Upstream segment is engaged in activities such as oil and natural gas exploration, field development and production, and midstream transportation, storage, and processing. The segment is also engaged in the marketing and trading of natural gas, including liquefied natural gas (LNG), power, and NGLs. At the end of FY2016, BP had upstream operations in 28 countries.
BP's exploration, development and production activities are delivered through five global technical and operating functions: exploration; reservoir development; global wells organization; global projects organization; and global operations organization.
The exploration function is engaged in renewing the company's resource base through access, exploration, and appraisal; while the reservoir development function is responsible for the stewardship of the company's resource portfolio. The global wells organization and the global projects organization functions are engaged in the safe, reliable, and compliant execution of wells (drilling and completions) and major projects, respectively. The global operations organization function is engaged in the safe, reliable, and compliant operations, including upstream production assets and midstream transportation and processing activities.
The upstream segment's total estimated hydrocarbon reserves, on an oil equivalent basis including equity-accounted entities, comprised 10,363 million barrels of oil equivalent (mmboe), and the proved reserves of natural gas comprised 31,468 billion cubic feet (Bcf). During FY2016, the total liquids proved reserves stood at 4,938 million barrels including 4,549 million barrels of crude oil reserves and 389 million barrels of proved reserves of NGLs.
The total hydrocarbon production of BP, as of FY2016, averaged 2.2 million barrels of oil equivalent per day (boe/d) and natural gas production recorded over 5.8 Mcf per day. For FY2016, the company's total liquids production was 1.2 million bpd including 1.1 million bpd of crude oil and 86,000 bpd of NGLs.
The company's oil and natural gas production assets are located onshore and offshore and include wells, gathering centers, in-field flow lines, processing facilities, storage facilities, offshore platforms, export systems (like transit lines), pipelines, and LNG plant facilities. The principal areas of production are Angola, Argentina, Australia, Azerbaijan, Egypt, Trinidad, the UAE, the UK, and the US.
In addition, the company operates US Lower 48 onshore business which is engaged in activities producing natural gas, NGLs and condensate across six states, including production from unconventional gas, coal bed methane (CBM) and shale gas assets.
In FY2016, the Upstream segment reported revenues of $15,607.0 million, which accounted for 8.5% of the company's total revenue.
Under the Rosneft segment, BP holds 19.75% share in Rosneft, Russia's largest oil company. Rosneft has a major resource base of hydrocarbons onshore and offshore, with assets in all key hydrocarbon regions of Russia: Western Siberia, Eastern Siberia, Timan-Pechora, Volga-Urals, North Caucasus, the continental shelf of the Arctic Sea, and the Far East.
Rosneft's downstream operations owns and operates 13 reﬁneries in Russia. It also owns and operates more than 2,950 retail service stations in Russia and abroad. Downstream operations of Rosneft include jet fuel, bunkering, bitumen and lubricants. Rosneft reﬁnery throughput in FY2016 reached 2.028 mmb/d. In FY2016, Rosneft’s hydrocarbon production reached 5.4 mmboe/d in 2016 and gas production recorded 67.1 bcm.
The Other Businesses and Corporate segment comprises the biofuels and wind businesses, the company's shipping and treasury functions, and corporate activities worldwide. In the alternative energy business, BP is focused on biofuels and wind. It operates three bioethanol sites in Brazil producing bioethanol and sugar and exporting power to the local grid. In FY2016, BP produced 733 million liters of ethanol equivalent and generated 562 gigawatt hours (GWh) of power for Brazil’s national grid. In addition, the company directly operated 14 wind farms in eight US states, while holding an interest in a separate facility in Hawaii. The net generating capacity from this portfolio, based on BP’s financial stake, was 1,452 megawatts (MW) of electricity at the end of FY2016. The net share of wind generation for FY2016 was 4,389 GWh. Additionally, the company also runs one wind farms in its refinery sites in the Netherlands, operating on a much smaller scale, with 22.5 MW of generating capacity.
Through the shipping business, BP is engaged in the transportation of hydrocarbon products using a combination of BP-operated, time-chartered and spot-chartered vessels. At the end of FY2016, BP's fleet included four vessels supporting operations in Alaska, 46 BP-operated and 28 time-chartered vessels for its deep-sea, international oil and gas shipping operations.
In FY2016, the Other Businesses and Corporate segment reported revenues of $1,009 million, which accounted for 0.6% of the company's total revenue.
Geographically, the company classifies its operations into two segments, namely US and Non-US. In FY2016, US segment accounted for 35.6% of the company's total revenues, followed by Non-US with 64.4%.
Scope of the Report
- About the Company - Historical Details, Current Ownership Structure and basic overview of BP Plc in terms of revenue, net income, and operating income.
- Financials - Details about BP Plc listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
- Company SWOT Analysis - Outlines BP Plc’s strengths, weaknesses, and opportunities and threats facing the company.
- ecent Developments - Showcases BP Plc’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
- trategic Evaluation - Provides an overview of BP Plc’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
- What domain does BP Plc operate and what are key points about it?
- What is the product / service portfolio of BP Plc?
- How has BP Plc performed financially from the 2013?
- How does BP Plc rank among its peers in terms of revenue and market share?
- What are BP Plc strengths and weaknesses and what opportunities and threats does it face?
- What are BP Plc’s main growth strategies and how successful has the company been at implementing them?
- What is the in-house technical capability of BP Plc? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
7.1.1 Industry Snapshot
7.1.2 IT Spend
7.1.3 Key Information Technology Trends
7.2.1 IT Overview
7.2.2 Key IT Technologies
7.2.3 Recent IT Initiatives
7.2.4 IT Outsourcing Engagements
7.2.5 Key IT Management
7.2.6 CIO/CTO Profile
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