BP plc, formerly known as British Petroleum, is a British multinational energy company and one of the world's largest integrated oil and gas companies. Founded in 1909, BP has grown to become a prominent player in the global energy sector, operating across various segments of the energy industry, including exploration, production, refining, distribution, and marketing.
At the core of BP's operations is its commitment to providing energy to meet the world's growing demands while addressing the challenges of environmental sustainability. The company operates in multiple regions worldwide, engaging in the exploration and production of oil and natural gas resources. BP's exploration efforts span onshore and offshore projects, reflecting its diverse portfolio and commitment to responsible resource development.
BP's downstream operations encompass refining and marketing, including the production of fuels, lubricants, and petrochemical products. The company's retail presence is visible through its numerous service stations and convenience stores in various countries, where it serves millions of customers daily.
In recent years, BP has taken significant steps toward diversifying its energy portfolio and addressing climate change concerns. The company has invested in renewable energy sources, including wind, solar, and biofuels, as part of its commitment to transitioning toward a lower-carbon future. BP's ambition is to be a net-zero emissions company by 2050.
The energy industry's challenges and opportunities have shaped BP's strategic direction. The company has undergone transformations, including the reorganization of its operations, divestitures, and investments in technology and innovation to enhance efficiency and environmental performance.