BP's refining operations in continental Europe include Europe's second-largest oil refinery, located in Rotterdam, the Netherlands, which can process up to 377,000 barrels (59,900m 3) of crude oil per day. [243] Other facilities are located in Ingolstadt, Gelsenkirchen and Lingen, in Germany, as well as one in Castellón, Spain. [244] In the beginning of the 2000s, BP became the leading partner (and later operator) of the Baku–Tbilisi–Ceyhan pipeline project which opened a new oil transportation route from the Caspian region. [97] In 2002, BP acquired the majority of Veba Öl AG, a subsidiary of VEBA AG, and subsequently rebranded its existing stations in Germany to the Aral name. [98] As part of the deal, BP acquired also the Veba Öl's stake in Ruhr Öl joint venture. Ruhr Öl was dissolved in 2016. [99] With the strength of the support you have shown us, bp will continue performing while transforming. 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 company was a manufacturer and installer of photovoltaic solar cells. It became wholly owned by British Petroleum in the mid-1980s. [84] But it should lead to the creation of a better, more resilient – as well as a decarbonized – energy system.

A warm welcome to the 2023 Annual General Meeting of BP p.l.c. to all our attendees - online and in person.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. Lund also faced growing dissent from BP investors angered by the company’s decision to weaken its climate policies, with almost 10% of shareholders voting against his re-election as chair. That compares with just 3% who voted against him last year. Inside bp we have thousands of scientists, engineers, economists and all kinds of other experts with the skills the world needs to reimagine energy.

Today, thousands of London EV drivers on Uber use bp pulse for their charging needs, averaging over 2500 charges per week on more than 1000 different charge points this year. The relationship includes access to charge points at bp pulse charging hubs in London’s Park Lane and Kentish Town. The two businesses continue to work together to identify the best locations for charging hubs for the benefit of Uber drivers and the wider EV community. As Bernard will explain, bp has been performing well since we began this transformation journey in 2020.And we knew that even the right choices in one context might need to be adjusted as circumstances change. It began to bring what the world wanted more closely in line with what the world needed.And we also saw in this change a clear opportunity for bp. In 1934, APOC and Gulf Oil founded the Kuwait Oil Company as an equally owned partnership. The oil concession rights were awarded to the company on 23 December 1934 and the company started drilling operations in 1936. [41] [42] In 1935, Rezā Shāh requested the international community to refer to Persia as ' Iran', which was reflected in the name change of APOC to the Anglo-Iranian Oil Company (AIOC). [43]

Clair Ridge is the first offshore deployment of BP’s enhanced oil recovery technology, LoSal®, which has the potential to increase oil recovery from reservoirs by using reduced salinity water in water injection. This is expected to result in up to 40 million additional barrels being cost-effectively recovered over the lifetime of the development. In 2007, BP formed with AB Sugar and DuPont a joint venture Vivergo Fuels which opened a bioethanol plant in Saltend near Hull, United Kingdom in December 2012. [107] Together with DuPont, BP formed a biobutanol joint venture Butamax by acquiring biobutan technology company Biobutanol LLC in 2009. [108]Under John Browne, British Petroleum acquired other oil companies, transforming BP into the third largest oil company in the world. British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. [88] [89] Most Amoco stations in the United States were converted to BP's brand and corporate identity. In 2000, BP Amoco acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol. [90] [91] [92] [93] Together with the acquisition of ARCO in 2000, BP became owner of a 33.5% stake in the Olympic Pipeline. Later that year, BP became an operator of the pipeline and increased its stake up to 62.5%. [94] [95] Several thousand UK jobs supported through the commissioning phase with more than 6,000 helicopter flights through Shetland.

Once the deal completes, BP will hold a 45.1% interest in Clair and ConocoPhillips will retain a 7.5% interest. In 2011–2015, BP cut down its alternative energy business. The company announced its departure from the solar energy market in December 2011 by closing its solar power business, BP Solar. [137] In 2012, BP shut down the BP Biofuels Highlands project which was developed since 2008 to make cellulosic ethanol from emerging energy crops like switchgrass and from biomass. [138] [139] In 2015, BP decided to exit from other lignocellulosic ethanol businesses. [140] It sold its stake in Vivergo to Associated British Foods. [141] BP and DuPont also mothballed their joint biobutanol pilot plant in Saltend. [142] BP is operator with 28.6% interest; Shell, 28%; ConocoPhillips, 24%; and Chevron North Sea Limited 19.4%. That realisation was consistent with what we were hearing from governments, customers, investors, and the markets.I can also say that the board’s governance and decision-making framework has been further improved through the strong constructive challenge made possible by deep trust.