Posted on November 28, by Russia Robinson Tragedies continue to effect individuals and families worldwide.
More specifically, the most well-known and devastating oil spill in US history is largely the fault of this powerful oil corporation. In response, BP implemented extensive recovery programs, but the damage had already been done.
The environment, wildlife, and local economies of all of the states lining the Gulf of Mexico felt the consequences of millions of barrels of oil being released into the ocean. Operating in thirty countries, it is the third largest publicly traded oil company in the world and the largest in the United States.
BP is well known for multiple reasons, both good and bad. While BP continues to fund research towards sustainability and reducing climate change, it has been blamed for several environmental disasters as well.
Since the issue of global climate change rose to widespread public awareness in the s, BP has supported governance policies to limit negative effects and invested resources in alternative energy sources.
One of their largest initiatives was their internal cap-and-trade system.
While the US government was considering this idea to limit sulfur dioxide emissions as a whole, BP set an example and raised awareness about the method by implementing their own system between in-house business units.
This system caused BP to become known for their voluntary cutback in carbon emissions, which was then supplemented by the formation of BP Solarex. BP continued their investment in low-carbon energy by forming an Alternative Energy business unit — which consisted of solar, wind, hydrogen power, and natural gas sectors — and establishing a biofuels business.
While their consistent focus on the increasingly pressing issue of climate change makes BP seem like an environmental saint, they have also been blamed for several environmental disasters.
More specifically, BP operations caused an explosion in their Texas City Refinery inwhich claimed 15 lives, and a devastating oil spill in the Northern Slope of Alaska inwhich released 4, barrels of crude oil into the environment Hyman. Though these were major setbacks for the company, they had yet to see the worst.
Location of the incident On April 20,the Deepwater Horizon oil rig connected to a BP-owned well exploded in the Gulf of Mexico, causing the worlds most devastating oil spill. The explosion caused 11 deaths and released about 4. This was followed by a failure to control the flow from the well with the blowout preventer BOP equipment, which allowed the release and subsequent ignition of hydrocarbons.
While investigations into the technical causes for the explosion continue, blame has been thrown back and forth between the three major corporations linked to the oil rig. Unfortunately for BP, their history of cost-cutting makes them an easy target.
Public opinion on the matter varies, but most people blame all three corporations for the explosion. A collaborative effort is the best way to move forward. Interestingly, some blame is also placed on the US government. The government should require standards adequate enough to minimize the risk of accidents like this one.A BSTRACT Formerly known as British Petroleum, BP is the world’s third-largest oil company, after ExxonMobil and Royal Dutch Shell.
Based in London, it has over 80, employees located in more than a hundred countries, and produces about billion barrels of oil and gas per year%(5). Nov 12, · BP: An Unethical Oil Giant.
Posted on November 12, by Grace Howard. when British Petroleum and Amoco were formed in Britain and the United States, respectively. BP needed to solve management and cost-cutting issues right after their first major disaster.
Perhaps their newly implemented standards and safety . Some of the key issues of human resource faced in petroleum sector include an aging workforce, retirement, attrition, and talent acquisition and supply, thus it also affects BP. Aging workforce Same situation is being faced by BP, as its work force is growing old, and most of its key players are about to retire in the next years.
British Petroleum (BP) and CSR. the importance of CSR increases with the size of the company due to the fact that in large companies any CSR related issues will attract wider media coverage and accordingly will have greater implications.
HRM (62) Industry Analysis (17) International Business (29) Leadership (50) Literature Review (36). 2 Introduction British Petroleum is one of the world’s largest integrated energy companies, operating in all activities which are connected with the oil and gas industry, which include exploring and producing, refining, distributing and marketing these products to the world market.
BP Case and Ethical Issues in Business BP Case and Ethical Issues in Business Introduction The catastrophic event of oil spillage in Gulf of Mexico was a game changer event for British Petroleum and business reconsideration for oil and gas industry in the April of