Bp s ( British Petroleum ) Oil Spill Crisis - 2060 Words

We decided to look closer at BP’s (British Petroleum) oil spill crisis in 2010. It is British multinational oil and Gas Company, their headquarter is based on London, England. According to PFC Energy, it is the fifth-largest company in the world measured by revenues in 2012, and the sixth-largest in oil and gas industry if measured by production in 2012. BP’s annual report states that as of December 2013, BP operates in approximately 80 countries. On April 20, 2010 the explosion and sinking of Deepwater Horizon oil rig happened, it was located in the Gulf of Mexico. The well was finally capped on July 15, 2010. By that time an â€Å"estimated 4.9 million barrels of oil had leaked into the Gulf† (ocean.si.edu). This awful tragedy killed 11 people. Unfortunately, this is not the only example of environmental harm. Companies in oil industry cause various environmental problems. According to LyndenEnergy.com, exploration, development and production operations of oil and natural gas are â€Å"subject to all the risks and hazards typically associated with such operations, including hazards such as fire, explosion, blowouts, cratering, sour gas releases and spills†. Each of these hazards could result in substantial damage to the environment. Oil business includes so many environmental risks that all its phases are subject to multiple regulations by federal, state and local laws. As stated at LyndenEnergy.com, â€Å"environmental legislation provides for, among other things, restrictions andShow MoreRelatedBritish Petroleum and Its Corporate Strategy1595 Words   |  7 PagesBritish Petroleum and its Corporate Strategy Introduction The organisation environment is always changing and therefore it is essential that a structured, detailed and continuous analysis of the principal dimensions of the environment is made. 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