Bp's Sustainable Development Analysis

In: Business and Management

Submitted By joeyxie
Words 2453
Pages 10
I. Introduction BP is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas "supermajors". It is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has major renewable energy activities, including in biofuels, hydrogen, solar and wind power.

BP has operations in over 80 countries, produces around 3.8 million barrels of oil equivalent per day and has 22,400 service stations worldwide. Its largest division is BP America, which is the biggest producer of oil and gas in the United States and is headquartered in Houston, Texas. As at 31 December 2010, BP had total proven commercial reserves of 18.07 billion barrels of oil equivalent. The name "BP" derives from the initials of one of the company's former legal names, British Petroleum.

II. Issues
2010 was a year that called BP’s sustainability into question. The remarkable accident in the Gulf of Mexico on 20 April 2010 cost 11 lives, leading to a major oil spill and a widespread loss of trust in BP, caused irreparable damage on the surrounding environment. What did they do before and after the event, how to build a safer and stronger BP as they claimed? The Gulf of Mexico oil spill, which flowed unabated for three months in 2010. It is the largest accidental marine oil spill in the history of the petroleum industry. The explosion killed 11 men working on the platform and injured 17 others, caused extensive damage to marine and wildlife habitats and to the Gulf's fishing and tourism industries. I will analyze the impact of this event for BP from the three ethical perspectives of consequentialism,…...

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