Vintage photo of BP's head office at Britannic House Skyscraper in London

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The start of production of Clair Ridge follows the start-up earlier in 2018 of five other Upstream major projects: Atoll Phase One, offshore Egypt, Shah Deniz 2 gas development in Azerbaijan, TAAS expansion project in Russia, Western Flank B offshore Western Australia and Thunderhorse Northwest Expansion in the Gulf of Mexico. Dr Andy Samuel, Chief Executive at the Oil and Gas Authority said: “First oil from the newly built Clair Ridge platform is a major milestone for the UKCS. The OGA continues to view the West of Shetland as strategically important with substantial remaining potential. The Clair Field has in excess of 7 billion barrels in place and is expected to sustain production for many decades to come, with significant scope for further phases of development. We welcome BP’s ongoing commitment to MER UK.” In September 2020, BP formed a partnership with Equinor to develop offshore wind and announced it will acquire 50% non-operating stake in the Empire Wind off New York and Beacon Wind off Massachusetts offshore wind farms. The deal is expected to be completed at the first half of 2021. [167] In December 2020, BP acquired a majority stake in Finite Carbon, the largest forest carbon offsets developer in the United States. [168] The third factor that influenced bp’s recent strategic update was bp’s strong financial, operational and strategic performance.

But tragically, four people lost their lives while working for bp last year.Several others were injured. BP, on behalf of co-venturers Shell, Chevron and ConocoPhillips, today announced first oil production from the giant Clair Ridge project in the West of Shetland region offshore UK. A new 14.6-kilometre, six-inch gas export pipeline tying Clair Ridge into the West of Shetland Pipeline Systems (WOSPS) was also installed as part of the project. The WOSPS transports gas from West of Shetland to the Sullom Voe Terminal. In May 1908, a group of British geologists discovered a large amount of oil at Masjed Soleyman located in the Khuzestan Province in the southwest of Persia ( Iran). It was the first commercially significant find of oil in the Middle East. William Knox D'Arcy, by contract with Ali-Qoli Khan Bakhtiari, obtained permission to explore for oil for the first time in the Middle East, [24] an event which changed the history of the entire region. The oil discovery led to petrochemical industry development and also the establishment of industries that strongly depended on oil. On 14 April 1909, the Anglo-Persian Oil Company (APOC) was incorporated as a subsidiary of Burmah Oil Company. Some of the shares were sold to the public. [25] The first chairman and minority shareholder of the company became Lord Strathcona. [26]Third, while oil and gas will still be needed for decades to come, they will be increasingly challenged. BP's major subsidiary in the United States is BP America, Inc. (formerly: Standard Oil Company (Ohio) and Sohio) based in Houston, Texas. [196] BP Exploration & Production Inc., a 1996 established Houston-based subsidiary, is dealing with oil exploration and production. [197] BP Corporation North America, Inc., provides petroleum refining services as also transportation fuel, heat and light energy. [198] BP Products North America, Inc., a 1954 established Houston-based subsidiary, is engaged in the exploration, development, production, refining, and marketing of oil and natural gas. [199] BP America Production Company, a New Mexico-based subsidiary, engages in oil and gas exploration and development. [200] BP Energy Company, a Houston-based subsidiary, is a provider of natural gas, power, and risk management services to the industrial and utility sectors and a retail electric provider in Texas. [201]

The field had an initial estimate of 7 billion barrels of hydrocarbons in place, in a highly complex and naturally fractured reservoir. As part of the merger's brand awareness, the company helped the Tate Modern gallery of British Art launch RePresenting Britain 1500–2000. [96] In 2001, in response to negative press on British Petroleum's poor safety standards, the company adopted a green sunburst logo and rebranded itself as BP ("Beyond Petroleum") plc. [89] Steven Koonin, BP's then-Chief Scientist, speaking in the company boardroom in 2005 (top right of picture) Since 1951, BP has annually published its Statistical Review of World Energy, which is considered an energy industry benchmark. [181] Operations by location [ edit ] United Kingdom [ edit ] The BP chemicals plant in Saltend near Hull, United Kingdom In 1927, Burmah Oil and Royal Dutch Shell formed the joint marketing company Burmah-Shell. In 1928, APOC and Shell formed the Consolidated Petroleum Company for sale and marketing in Cyprus, South Africa and Ceylon, which in 1932 followed by a joint marketing company Shell-Mex and BP in the United Kingdom. [28] [39] In 1937, AIOC and Shell formed the Shell/D'Arcy Exploration Partners partnership to explore for oil in Nigeria. The partnership was equally owned but operated by Shell. It was later replaced by Shell-D'Arcy Petroleum Development Company and Shell-BP Petroleum Development Company (now Shell Petroleum Development Company). [40] The company's oil assets were nationalised in Libya in 1971, in Kuwait in 1975, and in Nigeria in 1979. [42] [49] [64] In Iraq, IPC ceased its operations after it was nationalised by the Ba'athist Iraqi government in June 1972, although legally Iraq Petroleum Company still remains in existence but as a dormant company, [65] and one of its associated companies — Abu Dhabi Petroleum Company (ADPC), formerly Petroleum Development (Trucial Coast) Ltd – also continues with the original shareholding intact. [66] [67]In addition to the platforms, the Clair Ridge project also included new pipeline infrastructure with the installation of a 5.5-kilometre, 22-inch oil export pipeline tying into the Clair Phase 1 export pipeline. Oil from Clair is exported to the Sullom Voe Terminal on Shetland.