Entity

BP p.l.c. is one of the world's largest integrated energy companies and a recognised oil and gas "supermajor", operating across the full energy value chain from upstream exploration and production through to downstream refining, marketing, and low-carbon energy. It was founded in 1908 by William D'Arcy following the discovery of oil in Persia, formally incorporated on 14 April 1909 as The Anglo-Persian Oil Company, and is today listed on both the London Stock Exchange and the New York Stock Exchange.

The company has undergone several major name changes reflecting transformative mergers and strategic repositioning: it became The British Petroleum Company p.l.c. and held that name until December 1998, when the landmark merger with US-based Amoco created BP Amoco p.l.c. The name was shortened to BP p.l.c. in May 2001, coinciding with the acquisition of ARCO and further rationalisation of the group.

Business Overview

BP operates across three core reporting segments:

• Gas & Low Carbon Energy — upstream natural gas production, integrated gas marketing and trading, as well as renewable energy businesses including solar (Lightsource bp), offshore and onshore wind, hydrogen, and carbon capture and storage (CCS)

• Oil Production & Operations — upstream crude oil activities worldwide, including bpx energy (US onshore), deepwater Gulf of Mexico, and operated fields across Azerbaijan, the North Sea, Iraq, Angola, and Oman

• Customers & Products — the downstream-facing segment, covering convenience retail and fuels, EV charging, Castrol lubricants, aviation and B2B, midstream pipelines, refining, oil trading, and bioenergy

The company also maintains Other Businesses & Corporate, covering shipping, treasury, and group corporate functions.

With approximately 93,700–100,500 employees globally, BP operates in 61 countries, runs about 21,100 retail sites, and generated revenues of approximately $189.3 billion in FY 2025.

Strategy & Current Direction

BP is executing a major strategic pivot launched in 2020 under the "net zero ambition", targeting a significant reduction in oil and gas production and scaling up low-carbon investments. However, under pressure from falling share prices and activist shareholders, BP reversed course in early 2025, announcing it would increase oil and gas investment, reduce renewable spending, and accelerate asset disposals totalling $20 billion by 2027 — of which the Gelsenkirchen refinery sale to Klesch Group is a key component.