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Halliburton Vision Statement
Leading the world in integrated energy services, energy equipment, engineering, construction, and maintenance. Supported by four key goals:
• Technological Leadership
• Operational Excellence
• Innovative Business Relationships
• Dynamic Workforce
Words and expressions
BP – British Petroleum
The BP group operates across six continents, and our products and services are available in more than 100 countries
Our exploration and production activity in Africa is focused on Algeria, Angola and Egypt. We have working relationships with many national oil companies in this region. These are typically joint ventures, with BP providing management support, technical expertise and training. Elsewhere in Africa, our main activities are in refining and marketing, with a significant retail presence in Southern Africa and marketing operations for lubricants, oil and gas products, and solar panels across the continent.
In Asia, our exploration and production activities are centered in China, Indonesia, Vietnam and Pakistan, while we do significant chemicals manufacturing in China, the Philippines, South Korea and Malaysia. BP also holds a leadership position in Liquefied Natural Gas (LNG) in China, where we are involved in a number of joint ventures. In fact, our working relationships with many national oil companies in Asia – for example Kuwait and United Arab Emirates – are typically joint venture activities. BP Solar has a manufacturing plant in India. We market lubricants and oil products throughout the region, with major retail operations in India and China.
Our exploration and production activities in Australia and New Zealand are centred in Australia, where BP Solar also has a manufacturing plant. Sales and marketing of lubricants and oil products takes place throughout the region, with major retail operations in both Australia and New Zealand.
London is where BP’s corporate headquarters are located, and the UK is therefore a centre for trading, legal, finance and other mainstream business functions. The UK is also home to three of BP’s major global research and technology groups. Our exploration and production business in Europe covers the North Sea – both the UK and Norway – and also The Netherlands. In Russia we have an important joint venture through our 50 per cent ownership of TNK-BP, a major oil company with the majority of its assets in Russia. We are involved in a number of exploration and production projects in Azerbaijan, and are leading the Baku-Tbilisi-Ceyhan (BTC) pipeline project. Refining and marketing activities are spread throughout Europe, with BP owning or having a stake in nine refineries across the region. BP retail sites are a common sight in several European countries. In Germany we market under the Aral brand. We also sell lubricants and other oil products in Europe to both consumers and business customers. One of BP Solar’s manufacturing sites is based in Spain and we also have a number of chemical plants in the region.
The BP group is the largest oil and gas producer and one of the largest gasoline retailers in the United States. We are the largest non-US company on the New York Stock Exchange. Our BP Alternative Energy business has an operations centre in Houston, and we also have solar manufacturing facilities in the USA. In Canada, our activities focus on the production of natural gas and derivatives and we are currently considering a North American natural gas pipeline project in a joint venture. Exploration and production work is a core aspect of BP’s presence in Trinidad and Tobago – where we are a major local producer.
Exploration and production work is a core aspect of BP’s presence in Colombia and Venezuela. In Brazil we have a chemicals joint venture and significant solar projects. Elsewhere in South America, our activities centre on the sale of oil, lubricants and oil products.
Words and expressions
Rosneft was one of the last vertically integrated oil companies to emerge from the reorganization and large-scale privatization of Russia’s oil industry in the years following the dissolution of the Soviet Union. Initially, Rosneft was established in 1993 as a state enterprise on the basis of assets previously held by Rosneftegaz, the successor to the USSR Ministry of Oil and Gas.
In 1995, a Russian government decree transformed Rosneft into an open joint stock company (OJSC). From 1995 until 1998, Rosneft endured a series of rapid management changes that undermined the practical control which successive Moscow-based executives were able to exert over the Company’s assets. This undermined the coordination between Rosneft’s various businesses and, thus, did significant harm to the Company’s overall operational performance with production declining and the limited utilization of refining capacity throughout the period.
In order to secure Rosneft’s position as an important player in Russia’s energy industry, the government appointed a new management team in October 1998, headed by the Company’s current president, Sergey Bogdanchikov. The new team immediately began implementing what would become a full-scale turnaround of the Company. By 2000, Rosneft was again realizing profits. That year also marked the start of a new period of growth, with average oil production increases in excess of 11% annually.
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