BP America Company History Timeline

By 1975, as the world s second-largest oil producer after Saudi Arabia , Iran was earning nearly 20 million per hour.
In 1977, BP had already started pumping oil from fields by Prudhoe Bay in northern Alaska down a 1,200 km-long pipeline that ran all the way to refineries in the south of the state.
BP's chemical interests also expanded during this period, especially after 1978, when it acquired major European assets from Union Carbide and Monsanto.
In 1981, British Petroleum entered into the solar technology sector by acquiring 50 of Lucas Energy Systems, a company which became Lucas BP Solar Systems, and later BP Solar.
The name British Petroleum Company PLC was adopted in 1982.
The geologist from Slough had worked his way up through the ranks after joining BP from university in 1982 to succeed Lord Browne as the chief executive officer of the energy giant.
In 1982, the downstream assets of BP Canada were sold to Petro Canada.
In 1983 John Swearingen retired as chairman of the board.
In 1984, Standard Oil of California was renamed to Chevron Corporation and it bought Gulf Oil-the largest merger in history at that time.
In 1985 Standard Oil Company Indiana changed its name to Amoco Corporation.
To meet anti-trust regulations, Chevron divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States to British Petroleum and Cumberland Farms in 1985.
In November 1987 the Kuwait Investment Office purchased a 10.06 interest in BP, becoming the largest institutional shareholder.
In 1987, British Petroleum negotiated the acquisition of Britoil and the remaining publicly traded shares of Standard Oil of Ohio.
One result of the sale was that by March 1988 the Kuwait Investment Office had built up a 21.6 percent stake in the company government regulatory authorities subsequently reported that this share was reduced to less than 10 percent.
Other chances to expand oil and gas exploration in 1988 came with the acquisition of Tenneco Oil Company's Rocky Mountain properties, for approximately 900 million.
Analysts credit that focus, in part, to the aftermath of the 1989 Exxon Valdez grounding, which spilled 11 million gallons of crude oil into Prince William Sound in Alaska.
Unfortunately, Project 1990 quickly came to represent wholesale job cuts and low morale.
By 1990, the need for raw materials had expanded internationally, moving strongly toward Europe and the Far East.
H. Laurence Fuller took over as chairman in 1991 amidst a downturn in Amoco profits owing to weakening demand for petroleum products and reduced prices caused by the recession.
He was forced to resign on June 25, 1992, after BP sustained its first ever quarterly losses.
Reorganization efforts also focused on the troubled American subsidiary, BP Oil, which contributed more than 20 million of the parent company's 1992 loss.
Fuller began this effort with a 1992 restructuring intended to reduce costs and improve efficiency.
1992 Amoco becomes the first foreign oil company to explore the Chinese mainland.
In 1994, Amoco made one of its largest natural gas finds off Trinidad and Tobago.
Amoco was a member of a ten-company consortium that signed an agreement in 1994 with the Republic of Azerbaijan to develop oil fields in the Caspian Sea.
1994 Amoco restructures, replacing its three major subsidiaries with a network of 17 business groups.
In 1995, Sir John Browne, former chief of Exploration, took over as BP's chief executive.
Also tested were shared service stations that offered Amoco gas and fast food from McDonald's and Burger King , or such services as dry cleaning DryClean United StatesA. . These tests were so successful that Amoco planned to roll out 100 such units in 1995 at a cost of 100 million.
In 1995, Shell and Amoco created a limited partnership to develop oil fields in the Permian Basin area of west Texas and southeast New Mexico.
In 1995, the company sold its motor club business to a subsidiary of Montgomery Ward and its credit card operations to Associates First Capital Corporation, a Ford subsidiary.
In 1997, BP announced that it would build its first service stations in Japan.
Also in 1997, BP acquired a 10 percent equity stake in AO Sidanco, a major Russian oil and gas company, as well as 45 percent of Sidanco's majority interest in a separate Russian company with major oil and gas properties in east Siberia.
1997 Amoco begins a divestiture program designed to shed noncore properties.
In merging with United States oil giant Amoco in 1998, the newly created BP Amoco became the one of the largest petroleum concerns in the world.
The corporation changed its name to BP PLC following the acquisitions, in 2000, of Atlantic Richfield Company known for ARCO brand gasoline in the western United States and Burmah Castrol a leading British oil, gas, and lubricants company .
In 2000, the company made 12 billion in pretax profits--a record for a U.K. company.
D Arcy remained a director until his death in 2000.
As part of the merger's brand awareness, the company helped the Tate Modern gallery of British Art launch RePresenting Britain 1500-2000.
In 2001, the company signed a deal with the Spanish and Philippine governments to bring solar power to 150 Philippine villages--the largest solar energy project ever undertaken.
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.
In 2002, BP acquired the majority of Veba l AG, a subsidiary of VEBA AG, and subsequently rebranded its existing stations in Germany to the Aral name.
On 1 September 2003, BP and a group of Russian billionaires, known as AAR Alfa-Access-Renova , announced the creation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine.
In the late 20th century BP was a major investor in green energy, and in 2003 the company unveiled the slogan Beyond Petroleum.
The agency fined BP a record 87.4 million, which was more than four times the previous record fine, also to BP, for the 2005 explosion.
Since the 2005 blast in Texas, BP has invested 1 billion to improve the refinery, it said.
In 2006, over 250,000 gallons of oil spilled through corroded sections of the BP pipeline in Alaska across the North Slope, leading to a partial shutdown of the company's Prudhoe Bay field and a costly cleanup.
The company planned to have a solar business worth 1 billion by 2007.
Persia, or Pars, is only one of 30 provinces in Iran Greek historians mistakenly assumed that all people in Iran were Persians, and the British and others kept repeating this mistake Kamiar 2007 . APOC was forced to change its name to Anglo-Iranian Oil Company AIOC .
In 2007, when Tony Hayward took over as chief executive, BP settled a series of criminal charges, including some related to Texas City, and agreed to pay 370 million in fines.
In 2007, BP sold its corporate-owned convenience stores, typically known as BP Connect , to local franchisees and jobbers.
At the same year it was listed on the Tokyo Stock Exchange where its share were traded until delisting in 2008.
Together with DuPont, BP formed a biobutanol joint venture Butamax by acquiring biobutan technology company Biobutanol LLC in 2009.
In July 2010, BP sold its natural gas activities in Alberta and British Columbia, Canada, to Apache Corporation.
The 2010 explosion at the Deepwater Horizon oil rig cost 11 lives and resulted in 4.2m barrels of oil spewing into the Gulf over 87 days, according to the US government.
In February 2011, BP formed a partnership with Reliance Industries, taking a 30 stake in a new Indian joint-venture for an initial payment of 7.2 billion.
The company announced its departure from the solar energy market in December 2011 by closing its solar power business, BP Solar.
In October 2012, BP sold its stake in TNK-BP to Rosneft for 12.3 billion in cash and 18.5 of Rosneft's stock.
In June 2014, BP agreed to a deal worth around 20 billion to supply CNOOC with liquefied natural gas.
Link http www.bp.com en global corporate press press-releases fourth-quarter-2014-results.html.
In 2015, as part of a civil trial, it agreed to pay some 20 billion.
2016 Upstream major projects.
In 2016, BP sold its Decatur, Alabama, plant to Indorama Ventures, of Thailand.
At the same year, its Norwegian daughter company BP Norge merged with Det Norske Oljeselskap to form Aker BP. In April 2017, the company reached an agreement to sell its Forties pipeline system in the North Sea to Ineos for 250 million.
Downstream investor day 2017.
In 2017, the company floated its subsidiary BP Midstream Partners LP, a pipeline operator in the United States, at the New York Stock Exchange.
2018 Upstream major projects.
Also in 2018, BP bought a 16.5 interest in the Clair field in the UK from ConocoPhillips, increasing its share to 45.1 . BP paid 1.3 billion and gave to ConocoPhillips its 39.2 non-operated stake in the Kuparuk River Oil Field and satellite oil fields in Alaska.
In January 2019, BP discovered 1 billion barrels 160 10 m oil at its Thunder Horse location in the Gulf of Mexico.
2019 Upstream major projects.
Directors' remuneration report 2019.
Company Founded
Warrenville, IL
Company Headquarter
William D'Arcy
Company Founders

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