BP is headquartered in London, the UK and is one of the biggest vertically integrated oil and gas companies in the world.
The operations of the company include oil exploration and production, marketing and trading of natural gas, natural gas liquids and power. The company operates in nearly 80 countries across Asia Pacific, Europe, Americas and Africa, and it is one of the leading brands in the world in the industry.
The four reported business segments of BP include the downstream, upstream, Roseneft and other businesses and corporate. The downstream segment is the product marketing arm of BP, selling fuel, lubricants and other petrochemicals. The downstream mainly include refining, manufacturing, marketing, transporting, and trading of petroleum and petroleum derived products. The company manufactures lubricants and related products and sells it to industrial, aviation, marine and energy sectors across the world. BP has nearly 14 refineries worldwide which supplies to its customers. The key brands in the portfolio are Castrol, Aral and BP.
The upstream segment is involved in activities such as oil and gas exploration and production in over 48 countries in the world. The total oil production of BP exceeded 2.1 million barrels per day. BP holds a 19.75% share in Roseneft, Russia’s largest oil company. Roseneft has rich hydrocarbon resources in key petroleum resource areas of Russia. Rosenft has 14 refineries in Russia and has interest in four other refineries in Germany. US is BP’s largest geographic market with a share in revenue of 34.8%. A lions share in BP’s revenue comes from downstream segment which accounts for 82.8% of total revenue. BP is also into alternative energy business with focus on biofuels and wind energy. The gulf of Mexico oil spill which happened in 2010 has damaged BP’s reputation, which had a long term adverse sentiment on BP which still cripples the company when it comes to explore new opportunities in US and other places.