#beyond petroleum

BP faces fierce new criticism from motorists groups today as it announced a record profit of £5.58 billion for the six months to 30 June. The company says higher margins on oil refining rather than retail petrol sales are responsible for the upward jump. But the road lobby is angered by what it claims is profiteering by the oil companies amid high forecourt prices. BP says sharply higher gas…

Högre produktion lyfter BP’s vinst

Högre produktion lyfte BP:s vinst

Den brittiska oljejätten BP, med styrelseordförande Carl-Henric Svanberg, ökade vinsten med 65 procent under andra kvartalet med stöd av högre produktion. Nettovinsten landade därmed på 3,37 miljarder dollar, motsvarande cirka 23 miljarder kronor.

BP, som äger en femtedel av ryska Rosneft, varnar dock för att ytterligare ekonomiska sanktioner mot Ryssland kan…

The sun may finally be setting on Beyond Petroleum. Remember that? It was BP’s big push into renewable energy under former chief executive Lord Browne. By putting its 

The Environmental Protection Agency (EPA) announced that British Petroleum also known as Beyond Petroleum has been temporarily suspended from making new contracts with the U.S government.

These restrictions come as a result of the company's response during the 2010 Gulf of Mexico oil spill and Deepwater Horizon oil rig disaster which caused 11 deaths. EPA has authority to place BP under suspension based on sections of the Clean Air Act and the Clean Water Act.

"The BP suspension will temporarily prevent the company and the named affiliates from getting new federal government contracts, grants or other covered transactions until the company can provide sufficient evidence to EPA demonstrating that it meets federal business standards," said the EPA in a statement.

The temporary ban is not likely to affect BP's current agreements with the government...

BP went to great lengths by spending 93 million dollars to recreate their image.  They attached their brand to the newest fad of "going green".  Attaching your brand to a cause or non-profit organization is called cause-related marketing. They revamped their logo to a green, yellow, and white sun and made their BP into a lower case and "less imperialistic" bp that now stands for, "beyond petroleum".  This company expresses its corporate social responsibilities as taking care of the environment, but after the drilling disaster in April 2010, these responsibilities were put to the test.  This is a very popular marketing form and thus, if done incorrectly, can irreparably damage an organization's reputation.  

bp declared themselves as the first eco-friendly oil company.  They left the Global Climate Coalition in 1997.  This groups belief was that climate change remained unproven.  bp was headed in the right direction.  However, if you dig more deeply into the firm's past, they are liable for deforestation in Colombia and the murders of the local Colombian people who protested the company's environmental impact: it has been alleged that the company paid the Colombian military, a group that is held responsible for violating human rights and abusing the locals, to protect their assets.  They have also been the cause of at least 104 oil spills in the pristine waters of the Arctic.  Eco-friendly?  Are you kidding me?  

This is a facade that the company has created to enhance their reputation therefore giving them the leverage to charge higher prices, pay cheaper labor costs, and make their stakeholders (individuals directly affected by the company) and its consumers happy.  However, due to the negative correlation between what the advertisements said bp was doing to help the environment after the spill and what they actually did, blew their cover and revealed that the only "green" bp cares about is money.