With headquarters based in London, England, BP or British Petroleum is a multinational oil and gas company. The energy company has the sixth-largest market capitalization in the world. It is also the 12th largest when it comes to the revenue turnover. The company deals in petrochemicals, refining, power generation, trading, and production.
Today, the company operates in more than 70 countries and is known to produce 3.6 million barrels in a day. It has also got 18,300 service stations across the world, and it is listed on the London Stock Exchange. Here is a quick summary of the net worth of BP in 2020.
BP was formed in April 1909 as Anglo-Persian Oil Company. The first chairman of the company was Lord Strathcona. The company has got over 74,000 employees across the world. The largest division of the company is BP America, and in Russia, it has a stake of 19.75% in Rosneft.
BP is also listed on the New York Stock Exchange and Frankfurt Stock Exchange. In 1935, the company became Anglo-Iranian Oil Company. The original name of British Petroleum came in 1954. It was also known as BP Amoco plc and The British Petroleum Company Plc.
Since its inception, BP has evolved immensely over the past. In 1947, the British Petroleum Chemicals was formed. The company entered Canada in 1953. It became one of the riskiest ventures in the 1960s. In 1967, the company acquired The Distillers Company’s assets. Soon the assets of BP became nationalized in African countries like Libya and Nigeria.
In 1979, the shares of BP were available for sale in the market. The company entered Azerbaijan in 1992. The 2000s witnessed BP as a leading partner of the project Baku–Tbilisi–Ceyhan pipeline. It is also in a partnership with Reliance Industries. It has a stake of 23% in the Lightsource Renewable Energy and has also acquired the biomethane business of Clean Energy. In 2018, the company bought BHP.
BP has offered employment to thousands across the world. The company is known for giving recognition to the LGBTQ community and has got liberal policies for transgender and gay workers. It is the 15th best oil, gas, and mining companies and is the first company to support scientific consensus on climate change. BP has also paid $20 billion to compensate the victims of the oil spill and is one of the top oil companies in the world. The company is also the winner of the Australasian Association of Convenience Stores Awards.
Net Worth & Earnings
BP has a net income of $4 billion. The total assets of the company are $276.52 billion, and the revenue of the company stands at $244.58 billion. It has seen tremendous growth over the past century. With operations in many countries worldwide, the market value of the company is $147,771 million.
BP has cleared penalties worth billions of dollars to the Clean Water Act. It has got several environmental records but has been a subject of many violations and accidents. However, the company continues to grow and has settled their claims very well.