BP Fuel Storage Tanks Inverness. XPL 3562-346
BP's origins date back to the founding of the Anglo-Persian Oil Company in 1909, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954 British Petroleum. In 1959, the company expanded beyond the Middle East to Alaska and in 1965 it was the first company to strike oil in the North Sea. British Petroleum acquired majority control of Standard Oil of Ohio in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. British Petroleum merged with Amoco in 1998 and acquired ARCO and Burmah Castrol in 2000. BP has been involved in a number of major environmental and safety incidents, including the 2010 Deepwater Horizon oil spill. In 1997 it became the first major oil company to publicly acknowledge the need to take steps against climate change, and established a target to reduce its emissions of greenhouse gases. On 15 January 2011, Rosneft and BP announced a deal to jointly develop East-Prinovozemelsky field on the Russian arctic shelf. As part of the deal, Rosneft will receive 5% of BP's shares (worth approximately $ billion, as of January 2011) and BP will get approximately of Rosneft's shares in exchange. According to the deal, the two companies will also create an Arctic technology centre in Russia to develop technologies and engineering practices for safe arctic hydrocarbons extraction. In February 2011, BP formed a partnership with Reliance Industries, taking a 30 percent stake in a new Indian joint-venture for an initial payment of $ billion. BP announced in June 2012 that it planned to sell its 50% shareholding in the Russian oil company TNK-BP, which accounted for 30 percent of BP’s oil and natural gas production, 20% of its reserves and roughly 10% of BP's profit over the last ten years. BP said that no sale was guaranteed, but that the company had received "indications of interest
Size: 5288px × 3512px
Location: Inverness Harbour, Highland Region. Scotland. United Kingdom.
Photo credit: © David Gowans / Alamy / Afripics
License: Licensed
Model Released: No
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