oil & gas iq - the world's biggest oil & gas companies 2014

THE WORLD’S BIGGEST OIL & GAS COMPANIES & THE INDUSTRY GIANTS WHO LEAD THEM

Sumit Dutta

November 2013

INTRODUCTION 3 SAUDI ARAMCO 4 GAZPROM 6 NIOC 8 EXXONMOBIL 10 ROSNEFT 12 SHELL 14 PETROCHINA 16 PEMEX 18 CHEVRON 20 KUWAIT PETROLEUM COMPANY 22 BP 22 THE TOP 11 BY THE NUMBERS 26 SOCIAL OIL & GAS 27 SOURCES 28 ABOUT OIL & GAS IQ 30

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The world relies on the Oil & Gas industry. According to the US Energy Information Association, America alone consumed a total of 6.87 billion barrels (18.83 million barrels per day) in 2011. This represents approximately 22% of total world petroleum consumption. But who are the key players in the oil and gas industry? In recent years the traditional super majors have seen stiff competition from the growing number of National Oil Companies – state owned entities that are increasingly seizing sole rights to major oil reserves. In this eBook we count down the eleven biggest oil and gas companies in the world ranked by the volume of oil and natural gas equivalent produced every day and take a closer look at the visionaries who lead them. Sumit Dutta Oil & Gas IQ November 2013

The World’s Biggest Oil& Gas Companies visit www.OilandGasIQ.com

Saudi Aramco BPD 12.7 million (Barrels of Oil & Natural Gas Equivalent Per Day) Founded 1933 Headquarters Dhahran, Saudi Arabia State Owned? Yes CEO Khalid A. Al-Falih Revenue US$ 356 Billion Employees 56,066 (2011) Saudi Arabia’s national oil and gas company is widely viewed as the most valuable company in the world with an estimated value of $10 trillion and generates over $1bn every day in revenues. The company was initially founded in 1933 by Standard Oil of California (SoCal) as California-Arabian Standard Oil Co. Over the years the Saudi government gained an increasingly shareholding share until 1988 when it took full control of the company and rebranded from to Aramco (Arabian American Oil Company) to Saudi Aramco (Saudi Arabian Oil Company). Since then the company has gone from strength to strength. Saudi Aramco has an impressive number of firsts including the world’s largest cruse oil reserves, the largest daily production of oil, the world’s largest hydrocarbon network, and ownership of the Ghawar field, the world’s largest oil field. In addition to domestic refineries, Saudi Aramco also has interest in international refineries in Korea, Japan, the US and China.

KHALID A AL-FALIH President & Chief Executive Officer Al-Falih holds a BSc in mechanical engineering from Texas A&M University and an MBA from the King Fahd University of Petroleum and Minerals. Khalid A. Al-Falih was appointed president and CEO in 2009. Under Al-Falih’s, the company manages the world's largest proven oil reserves, and is the world’s largest producer exporter of crude oil. A veteran of Saudi Aramco for his entire three decade career, Al-Falih served in key leadership positions including executive vice president for Operations, senior vice president of Gas Operations and Industrial Relations, president of Petron Corporation (a joint venture between Saudi Aramco and the Philippine National Oil Company) and he was the first head of Saudi Aramco’s New Business Development unit. He is a well-known advocate for higher education in Saudi Arabia. Since 2008, he has served as a founding member of the Board of Trustees of the King Abdullah University of Science and Technology. He is also a member of the Asia Business Council and J.P. Morgan International Council. He also serves on the Saudi Arabian Supreme Council of Petroleum and Mineral Affairs. Al-Falih is involved in social programs, and served as chairman of Dammam City Municipal Council. His board memberships include the Technical and Vocational Training Corp, the Prince Sultan Bin Abdul Aziz Fund for Supporting Small Business Projects for Women, and the Eastern Province Society for the Handicapped.

DID YOU KNOW? Saudi Aramco is the only private organization the FAA allows to own and operate its own airports.

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Learn More http://bit.ly/I7UnLD Root Cause Analysis: Defined by Saudi Aramco


HIGH FLYERS: SAUDI ARAMCO OPERATE THEIR OWN AIRLINES AND AIRPORTS

Gazprom

BPD 8.1 million Founded 1989 Headquarters Moscow, Russia State Owned? Yes Key Personnel Viktor Zubkov (Chairman) Alexei Miller (VC &CEO) Revenue US$ 158.1 Billion (2011) Employees 393,000 Another national oil company (NOC), Russia’s Gazprom is the second largest oil and gas company by production volume. The company, whose name is a contraction of Gazovaya Promyshlennost meaning "gas industry", formed in 1989 when the Ministry of Gas was transformed into a corporation and later privatised in 1993. Although a private company, the majority of the company is owned by the Russian government. Following major reforms initiated by President Vladimir Putin, the company saw a shift in management personnel and policy and later sales by it’s major subsidiaries resulted in the Russian government gaining the controlling share in the company. The company is largest producer of natural gas worldwide and is one of the most important companies to the Russian economy and in 2008 represented 10% of the national GDP. Gazprom is also a media powerhouse and its subsidiary Gazprom Media owns NTV, the only state independent national network in Russia.

ALEXY MILLER Deputy Chairman of the Board of Directors, Chairman of the Management Committee Miller graduated from Voznesensky Leningrad Finance and Economics Institute and holds a PhD in Economics. Upon graduation, Alexey Miller was engineer economist at the General planning division of Leningrad Civil Construction Research and Design Institute. He has a long history of working in the energy sector including the role of Deputy Energy Minister of the Russian Federation. He has been Chairman of the Management Committee of Gazprom since 2001 and Deputy Chairman of the Board of Directors since 2002. Miller has also been awarded several prestigious honours including Order of the Hungarian Republic Cross for the services in the energy cooperation sector and the Order of Merit of the Italian Republic.

DID YOU KNOW? Gazprom loves sports! The company is the owner of football club Zenit St. Petersburg and sponsors of Schalke 04, Red Star Belgrade, Russian professional cycling team Team Katusha, the UEFA Champions League and UEFA Super Cup. In September 2013, Gaxprom signed on as an official FIFA partner from 2015 up to and including the FIFA World Cup 2018 to be held in Russia.

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Learn More http://bit.ly/1doipQA Russia’s Impact on the Asia Pacific Oil Market


HULK SMASH! GAZPROM SPONSOR A NUMBER OF FOOTBALL TEAMS INCLUDING FC ZENIT SAINT PETERSBURG

National Iranian Oil Co (NIOC) BPD 6.1 million Founded 1948 Headquarters Tehran, Iran State Owned? Yes Key Personnel Bijan Namadar Zangeneh (MP) Roknoddin Javadi (MD) Revenue US$ 85 Billion (2010) Employees 41,000 (2011) The third largest oil and gas company is the National Iranian Oil Co. The company that was to become BP, AICO (Anglo-Iranian Oil Company), initially owned rights to all Persian oil resources. However they were ousted when the Iranian oil industry was nationalised resulting in the formation of the NIOC in 1951. This meant the NIOC had exclusive rights to all Iranian extraction, exploration, transportation and exportation of crude oil, and all natural gas / LNG sales. Remarkably the NIOC remains a major oil and gas producer despite international sanctions targeting oil revenues in an effort to stop Iran’s nuclear programme. It’s thought that some nations have been purchasing oil from Iran with Gold to bypass sanction regulations. Iran has threatened to close the Strait of Hormuz in retaliation for U.S. and European sanctions which could lead to a spike in oil prices globally. The UAE in response is looking to the Fujairah Terminal located on the Gulf of Oman as opposed to the Persian Gulf, theoretically a perfect position to sidestep the diplomatically tense chokepoint.

BIJAN NAMADAR ZANGENEH Petroleum Minister Bijan Namdar Zangeneh was appointed Iran’s petroleum minister in 2013. In the same year he was also made head of Gas Exporting Countries Forum (GECF). Kermanshah born Zangeneh holds an MSc in civil engineering from University of Tehran and is a noted Iranian politician, who has served as energy minister and minister of petroleum under multiple cabinets.

ROKNODDIN JAVADI Managing Director The MD is Roknoddin Javadi who in the past served as the managing director of the National Iranian Gas Exports Company (NIGEC) and director of Evic Company, one of the Iranian oil and gas industries key contractors.

DID YOU KNOW? The NIOC is currently contesting Saudi Aramco over the name of the Arabian Gulf which it believes should be referred to as the Persian Gulf.

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Learn More http://bit.ly/1iB0FBg EU Gets Tough on Iran: A Look at the New Sanctions for the Oil and Gas Industry


CHOKEPOINT: THE STRAIT OF HORMUZ

ExxonMobil BPD 5.3 million Founded 1999 Headquarters Texas, United States State Owned? No CEO Rex W. Tillerson Revenue US$ 453.123 Billion (2012) Employees 76,900 (2012) At position four is ExxonMobil, the largest non-government owned oil and gas company. The company was formed in 1999 following the merger of Standard Oil descendants Exxon and Mobil in a $73.7 billion deal, the biggest merger in US corporate history. Understanding the value of local branding, ExxonMobil markets it products under the names Exxon, Mobil, and Esso. The company produces approximately 3 percent of the world's oil and 2 percent of the world's energy. Their public profile took a hit when the 1989 Exxon Valdez incident cast a negative spotlight on the oil and gas industry. Although number four in terms of oil production, ExxonMobil is the holder of perhaps an even more impressive title - that of the world’s largest company by revenue. This year the company also become the world’s largest publicly traded company by market capitalisation.

REX TILLERSON Chairman and Chief Executive Officer Tillerson holds a Bachelor of Science degree in civil engineering at the University of Texas where he was named a distinguished alumnus in 2007. In 1975 he joined Exxon as a as a production engineer and then went to on to become general manager of Exxon Company U.S.A.’s central production division. Rising through the ranks, Tilelrson was made SVP president of ExxonMobil Corp in 2001, and elected president of the corporation and member of the board of directors in 2004. In 2006 he assumed his current position of Chairman and Chief Executive Officer. Tillerson is a member of the executive committee and a former chairman of the American Petroleum Institute. He is also a member of the National Petroleum Council, Society of Petroleum Engineers Business Roundtable, Business Council, and Emergency Committee for American Trade. In 2013, Tillerson was elected to the National Academy of Engineering. Outside of his work at in the energy industry, Tillerson is also vice-chairman of the Ford’s Theatre Society and was a former director of the United Negro College Fund.

DID YOU KNOW? CEO Rex Tillerson was inducted into the Eagle Scout Hall of Fame in 2009 and was appointed as the National President of the Boy Scouts of America in 2010.

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Learn More http://bit.ly/17OQxTe The World Energy Outlook to 2040 According to ExxonMobil


THE BOSS: EXXONMOBIL’S REX TILLERSON

ROSNEFT BPD 4.6 million Founded 1993 Headquarters Moscow, Russia State Owned? Yes President Igor Sechin Revenue US$ 102 Billion (2012) Employees 106,000 Rosneft is a Russian, state owned NOC. The company was formed in 1993 from assets previously held by Rosneftegaz, the successor to the Soviet Union's Ministry of Oil and Gas. Currently the state holds 69.50% in Rosneft. In 1995 Rosneft was turned into an open joint stock company. Plans to privatise the company in the late 90s never materialised. Rosneft operates in key regions of Russia: Western Siberia, Southern and Central Russia, Timan-Pechora, Eastern Siberia, Far East and is involved in exploration projects in Kazakhstan and Algeria and has stakes in four Germany refineries through Ruhr Oel GmbH. The company was set to merge with Gazprom in 2005 but this was scrapped - allegedly because then president Sergey Bogdanchikov would not take a deferential role to Gazprom CEO Alexei Miller. Rosneft ran one of the largest IPOs in history in 2006. The IPO raised $10.7 billion (including over $1 billion from oligarch Roman Abramovich) and Rosneft was valued at $79.8 billion. Financier George Soros was against the IPO and called for a boycott on ethical grounds, and Andrei Illarionov, called the deal "a crime against the Russian people," as none of the proceeds went to the state budget.

2011 saw a major joint venture between Rosneft and ExxonMobil, to conduct exploration and extracting on the Black Sea shelf. The Tuapse Trough was estimated to contain 7.2 billion barrels of oil equivalent. Rozneft and BP were set to complete a partnership to develop the East-Prinovozemelsky field on the Russian arctic shelf. The deal was not completed as BP's Russian partners in the TNK-BP joint venture, AAR, claimed the deal breached their own contract with BP which stipulated their partnership would be the principal venture for BP's Russian oil and gas operations. However in 2013, Rosneft completed a deal to acquire TNK-BP. As part of the deal BP divested its stake for $12.3 billion and 18.5% of Rosneft's share, while AAR received $28 billion.

IGOR SECHIN Chairman Sechin graduated from Leningrad State University in 1984 and holds a PhD in Economics. He has held the following roles: Deputy Head of the Executive Office of the President of the Russian Federation, Aide to the President of the Russian Federation and Deputy Prime Minister of the Russian Federation. In May 2012 he was appointed President of Rosneft and Chairman of Rosneft’s Management Board. Sechin also serves on the boards of a number of companies including TNK-BP Limited. Sechin holds 9 million Rosneft shares (0.085% of the share capital).

DID YOU KNOW? As well as being one of the world's super producers, the Russian giant also works with the World Chess Federation to support their Chess in Schools Programme helping children to develop skills and maybe find the next Grand Master!

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Learn More http://bit.ly/1aMgQrh Shale Gas, Putin's Russia, China And The Arctic - Trends And Events In 2013


POWER PLAY: RUSSIAN PRESIDENT VLADIMIR PUTIN FLANKED BY BP CEO BOB DUDLEY AND ROSNEFT PRESIDENT IGOR SECHIN

ROSNEFT ACQUIRED TNK-BP IN 2013

Royal Dutch Shell BPD 4 million Founded 1907 Headquarters The Hague, Netherlands State Owned? No CEO Ben Van Beurden (in 2014) Revenue US$ 467.153 Billion (2012) Employees 87,000 (2012) The seventh oil and gas company on the list is the super major more commonly known as Shell. The company was founded in 1907 following the merger of the Royal Dutch Petroleum Company and the UK’s "Shell" Transport and Trading Company Ltd. Thanks to its distinctive logo and subsidiary Shell Oil Company’s many service stations, Shell is one of the most well known oil and gas companies in the world. The Shell name and logo is tied to the "Shell" Transport and Trading Company - it’s founder’s father having originally created a business selling sea shells to collectors. An Anglo-Dutch company, Royal Dutch Shell’s revenue is equivalent to 84% of the Netherlands's GDP time. In 2012 Shell was took the top spot as the biggest company on the FTSE, with a 140.9 billion market capitalisation. The company also topped Fortune 500’s Global 500 – their annual ranking of the world’s largest corporations.

PETER VOSER & BEN VAN BEURDEN Ingoing and Outgoing CEO In 2013 Shell announced current CEO Peter Voser will retire from the company in 2014 Voser has been CEO of Shell since 2009. Prior to that he was CFO and an Executive Director. Voser holds a degree in business administration from the University of Applied Sciences, Zürich. He joined Shell soon after in 1982. Since then he has occupied a number of roles at Shell and at other companies including the position of CFO and an Executive Committee Member of the ABB Group of Companies. Since March 2013, Peter has been chair of the Board of Directors of Catalyst, a non-profit that works to build inclusive environments and opportunities for women in business. In 2011, he was appointed to the Board of Directors of Roche. Voser is also a member of the European Round Table of Industrialists and The Business Council. In 2011, Sultan of Brunei awarded Voser the title of Dato Seri Laila Jasa in recognition of his services to the state of Brunei. Swiss Voser, earned £7.8m including bonuses in 2012. Voser’s replacement was hotly contested and in July 2013 it was announced Ben van Beurden will assume responsibilities as CEO from 2014. Van Beurden holds a Master’s Degree in Chemical Engineering from Delft University of Technology, the Netherlands and joined Shell in 1983. Following a number of operational and commercial roles, including 10 years in LNG, he was made VP, Manufacturing Excellence. In 2006, he was appointed EVP, Chemicals. In 2013 become a member of Shell’s Executive Committee and served as Downstream Director for Europe and Turkey.

DID YOU KNOW? Shell was the first company in the Netherlands to purchase and use an electronic computer.

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Learn More http://bit.ly/Ik0KuB Peter Voser: The Rollercoaster Of Oil Prices


LEGACY: THE SHELL LOGO IS BASED ON A SEA SHELL AS A HOMAGE TO THE COMPANY’S ORIGINS

PetroChina BPD 3.9 million Founded 1999 Headquarters Dongcheng District, Beijing, China State Owned? Yes Key Personnel Zhou Jiping (Chairman) Revenue CN¥ 2.003 Trillion (2011) Employees 552,810 (2011) The fifth oil and gas company on the list is China's biggest oil producer and the listed arm of state-owned China National Petroleum Corporation (CNPC). In addition to being the second largest company in the world in terms of market capitalization, PetroChina is also the most profitable company in Asia and the biggest employer in the top ten with over half a million employees. Unfortunately PetroChina’s image was rocked by a 2005 chemical spill which left 5 dead and 60 people injured. In addition to this CNPC’s subsidiary Sinopec’s links to Sudan has seen a number of multinational organisations seeking to avoid controversy divesting in the organisation.

ZHOU JIPING Chairman Jiping holds a master’s degree and is a professor-level senior engineer. With almost 40 years of working experience in China’s petrochemical industry he has held roles in the International Exploration and Development Cooperation Bureau of CNPC, CNODC, China National Oil & Gas Exploration and Development Corporation, International Exploration and Development Cooperation Bureau of CNPC. In 2013 Jiping was appointed as the Chairman and President of the Company and Chairman of CNPC.

DID YOU KNOW? PetroChina’s flower-shaped logo’s colours match China’s national flag, and its ten petals represent the company’s core businesses.

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Learn More http://bit.ly/1c9X8VT China’s Energy Future: How The Middle Kingdom Learned To Love LNG


EVOLUTION: PETRO CHINA IS HEADQUARTERED IN BEIJING HOME OF THE BEIJING NATIONAL STADIUM AKA THE “BIRD’S NEST”

Pemex BPD 3.6 million Founded 1938 Headquarters Mexico City, Mexico State Owned? Yes CEO Emilio Lozoya Austin Revenue US $128.671 Billion (2012) Employees 138,215 (2011) Pemex aka Petróleos Mexicanos (Mexican Petroleum) is the Mexican state-owned petroleum company. Founded in 1938 after the nationalisation of the petroleum industry which removed all private foreign and domestic companies, Pemex is now the world's second largest non-publicly listed company by total market value. Pemex can also claim to being the biggest company in Mexico and Latin America, and also Mexico’s most important fiscal contributor. Mexico’s new President, Enrique Pena Nieto, has stressed the need to reform Pemex to allow foreign investment. This may assist in increasing production in Mexico's biggest field, Cantarell, which has dropped from 2 million barrels per day by approximately 65%. Sadly, two recent explosions at Pemex facilities in 2012 and 2013 left 66 people dead and over 170 injured.

EMILIO LOZOYA AUSTIN Chief Executive Officer Austin holds a BA in Economics and a BA in Law. In addition to this he also holds an MA in International Development and Public Administration from Harvard University. Austin has held a number of positions within the finance sector including roles at the Central Bank of Mexico and Inter-American Investment Corp. H is expertise in finance has also seen him participate in the World Economic Forum Annual Meeting, and he is the author of several studies on monetary policy, housing markets, public policy efficiency, IT education and electoral systems. He also co-founded TerraDesign which supports social housing in Senegal and Mexico.

DID YOU KNOW? Pemex is actively fighting the illegal fuel market and has set up hotlines that the public can use anonymously to tip off fraudulent fuel crime.

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Learn More http://bit.ly/18doqgX Growing a Business Focused on Exploration and Extraction of Latin American Reserves


VISION: PEMEX’S EMILIO LOZOYA AUSTIN HOPES NIETO’S ENERGY REFORMS WILL GIVE PEMEX A SHOT IN THE ARM

Chevron BPD 3.5 million Founded 1984 Headquarters California, USA State Owned? No CEO John S. Watson (Chairman & CEO) Revenue US$ 241.909 Billion (2012) Employees 62,000 (Dec 2012) Another super major, the Chevron Corporation is America's third largest corporation according to the Fortune 500. It was named the world’s 16th largest public company by Forbes Global 2000. The company was founded in 1984, but its origins can be traced as far back to 1879 when the Pacific Coast Oil Company was formed. This company was acquired by Standard Oil Co (part of its parent corporation Standard Oil) who then later rebranded the subsidiary to SoCal. This is when it launched the name Chevron for some of its product lines. In 1984 when Gulf Oil and SoCal merged, it was decided the new company would be rebranded as Chevron. In 2000, Chevron bought Texaco in a $45 billion deal which created the US’ second-largest oil company and the world’s fourth-largest publicly traded oil company. The company has had many different brands under its umbrella including: Chevron, Standard Oil, Texaco, Caltex, Unocal, Star Mart, Extra Mile, Redwood Market, Town Pantry, Delo, Havoline, Revtex, Ursa, Techron and Caltex. Chevron is also distinguished by its environmentally track record and achieved the highest score for an American oil and gas company investing in alternative energy sources and setting emission reduction targets.

The company is also largest producer of geothermal energy. Chevron has also slashed its own energy usage by more than 30% since 1992 by utilising alternative energy platforms including hydrogen fuel and solar panels at its facilities. In 2010 the company acquired Atlas Petroleum for $4.3 billion to make inroads in the lucrative Marcellus and Utica shale plays.

JOHN S WATSON Chairman and Chief Executive Officer John S. Watson is chairman of the board and CEO of Chevron Corporation, a position he has held since 2010. California born Watson Watson holds a degree in agricultural economics from the University of California at Davis and a MBA from the University of Chicago. Following his studies he joined Chevron as a financial analyst in 1980. He was elected president of Chevron Canada Limited in 1996, and a VP of the corporation in 1998. Two years later became the corporation's CFO following the Texaco merger. Watson is also a member of the board of directors and the executive committee of the American Petroleum Institute. He is also a member of the National Petroleum Council, the Business Council, the Business Roundtable, the J.P. Morgan International Council, the American Society of Corporate Executives and the University of California Davis Chancellor's Board of Advisors.

DID YOU KNOW?

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Learn More http://bit.ly/1bIyREp Top 10 US Natural Gas Producing Companies

Former US Secretary of State, Condoleezza Rice was a former member of the board of directors, and head of Chevron's committee on public policy.


PIONEER: JOHN D ROCKEFELLER FOUNDER OF STANDARD OIL

Kuwait Petroleum Corp BPD 3.4 million Founded 1980 Headquarters Al Shuwaikh, Al Asimah State Owned? Yes CEO Nizar Al-Adsani Employees 15,825 The last company on the list is the Kuwait Petroleum Corporation (KPC), the state-owned company responsible for Kuwait's hydrocarbon interests throughout the world. The Kuwait Oil Company was originally formed by the Anglo-Persian Oil Company (now known as BP) and the Gulf Oil Corp (now known as Chevron). In 1975 the Kuwaiti oil industry was nationalised and an agreement was signed by the State of Kuwait and British Petroleum and Gulf giving Kuwait complete control of its oil resources. This led to the formation of the Kuwait Petroleum Corporation in 1980 as an umbrella organisation to manage the country’s diversified oil interests. KPC is made up of the following subsidiaries: Kuwait Oil Company (KOC), Kuwait National Petroleum Company (KNPC), Petrochemicals Industries Company (PIC), Kuwait Oil Tanker Company (KOTC), Kuwait Aviation Fueling Company (KAFCO), Kuwait Foreign Petroleum Exploration Company (KUFPEC), Kuwait Petroleum International Limited (KPI - Q8), Santa Fe International Corporation (SFIC), Kuwait Gulf Oil Company (KGOC), Oil Sector Services Company and K-Dow Petrochemicals. Kuwait Petroleum Corp may be more recognisable by its well known brand Q8.

NIZAR AL-ADSANI Chief Executive Officer

Nizar Al-Adsani received his Bachelor’s Degree in Mechanical Engineering from South Dakota State University. In 198 he started as a engineer at KOC and then in 1999 appointed General Superintendent. He was later promoted to the position of Manager of Planning and Investment Coordination at the Kuwait Petroleum Corporation. He held this position until September of 2004, at which point he was promoted as Executive Director, Business Administration for Khafji Joint Operations. In November 2007 he became Deputy Managing Director (KJO) at the KGOC. In October 2009 he was named Chairman of Joint Operating Committee at KJO. In June 2011, Al-Adsani joined the KFPEC as Chairman, MD and board member.

DID YOU KNOW? During the first Gulf War over 700 oil wells were set on fire by the Iraqi Military Forces. It took eight months to fully extinguish the fires and its estimated 6 million barrels of oil were destroyed every day

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Learn More http://bit.ly/I7VXwZ The KOC Approach To Produced Water: Not A Trivial Matter


INFERNO: OIL WELLS ABLAZE IN KUWAIT DURING THE GULF WAR

BP BPD 3.1 million Founded 1909 Headquarters London, UK State Owned? No CEO Bob Dudley Revenue US$ 388.285 Billion (2012) Employees 85,700 (2012) Although founded in 1954 British Petroleum’s roots go back much further. The Anglo-Persian Oil Company was formed in 1909, itself an offshoot of the Burmah Oil Company. It later rebranded to the Anglo-Iranian Oil Company and then finally to BP. 11 years later the company became the first to strike oil in the north seas Other notable mergers and acquisitions following its privatisation in 1979 / 1987 include Amoco in 1998 and ARCO and Burmah Castrol in 2000. Thanks to its 20,000 plus service stations, BP is one of the most recognisable oil and gas companies. The company rebranded in 2001, dropping its green shield logo in favour of the “Helios” symbol – designed to represent event in all its forms. The company also adopted the slogan "Beyond Petroleum" – highlighting their focus on all types of energy and stressing their commitment to a lower carbon future. BP hit rock bottom when the 2010 Gulf of Mexico disaster became a major global talking point and led to the company pleading guilty on 11 counts of manslaughter, two misdemeanours, and one count of lying to Congress resulting in $4.5 billion in fines- the largest criminal resolution in US history.

Embattled CEO Tony Hayward was also forced to quit his post. The ramifications of the Deepwater Horizon oil spill are still being felt today as BP stands trial in the biggest court case of the century. BP may face damages in excess of $17 billion in the trial. It was a turning point for the company made all the more unfortunate considering BP’s previous efforts to establish its green friendly credentials with renewable energy. Despite this, BP still managed to be the fifth-largest company in the world by revenue. Current CEO Bob Dudley is delivering on his new strategy of selling assets (including its stake in the TNK–BP venture), resolving lawsuits and enhancing efficiency. This will lead to a leaner operation.

BOB DUDLEY Group Chief Executive Dudley holds a Degree in Chemical Engineering and an MBA. He has spent his entire career in the oil and gas industry including his time at Amoco where he worked in a number of engineering and commercial posts including the position of general manager for strategy Following the merger between BP and Amoco he took up a similar role and later was appointed chief executive officer of TNK-BP. In summer 2010, he served as the president and chief executive officer of BP’s Gulf Coast Restoration Organization in the US and became group chief executive on 1 October 2010. In 2012, Dudley earned £1.1m plus a further £2.6m in bonuses.

DID YOU KNOW? In 1997 BP became the first multinational outside the reinsurance industry to publicly support the scientific consensus on climate change.

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Learn More http://bit.ly/1bXPMqg BP Energy Outlook 2030 Report


DISASTER: THE 2010 MACONDO DEEPWATER HORIZON BLOW OUT

the worlds biggest oil & gas companies

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SAUDI ARAMCO GAZPROM

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PETRO CHINA PEMEX

CHEVRON KPC

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PEMEX CHEVRON KPC BP

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Statistical & References Oil & Gas IQ, Forbes, Wood Mackenzie, EIA, OPEC, Harvard Business Review, Energy Business Review Financial Times, Time, Wikipedia, Twitter, Metro UK, Rosneft, Exxon Mobil, BP, PetroChina, Pemex, Shell, NIOC, Gazprom, FIFA,, UEFA, Greenpeace, The Guardian, The Independent, Chevron, KPC

Image Sources Canvas Images: Gulf War Oil Wells http://en.wikipedia.org/wiki/File:Operation_Desert_Storm_22.jpg Emilio Lozoya Austin http://www.flickr.com/photos/worldeconomicforum/3445564654/ Macondo http://iliketowastemytime.com/2012/08/08/deepwater-horizons-final-hours-7-pics Rex Tillerson http://news.msn.com Strait Of Hormuz http://theenergycollective.com/jeffreymvoth/79025/defense-department-releases-roadmap-transform-energy-use-military-operations Beijing Olympic Stadium http://www.interiorclip.com/interior/1280x833/shortlisted-for-lubetkin-prize-the-national-stadium-beijing-17429.html Shell Shutterstock Saudi Aramco Airplane http://www.planes.cz/en/search/company/1055/saudi-aramco-aviation/ John D Rockefeller Life Magazine Misc & Key Personnel: Guardian, Wikipedia, Shutterstock, iStock, WSJ, Arabian Business, RIA.ru, International Forum of Americas, scouting.org, rferl.org All logos are property of their respective owners Content and stats correct as of date of publication


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