Where is bp from

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Last updated: April 8, 2026

Quick Answer: BP (British Petroleum) is a British multinational oil and gas company headquartered in London, England. It was founded in 1909 as the Anglo-Persian Oil Company and rebranded as BP in 2000. The company operates in over 70 countries worldwide, with major operations in the United States, Russia, and the Middle East.

Key Facts

Founded in 1909 as Anglo-Persian Oil Company
Headquartered in London, England
Operates in over 70 countries worldwide
Rebranded as BP in 2000
One of the world's seven oil and gas 'supermajors'

Overview

BP, originally known as British Petroleum, is a British multinational oil and gas company with deep historical roots in the global energy sector. Founded in 1909 as the Anglo-Persian Oil Company, the company emerged from oil discoveries in Persia (modern-day Iran) and quickly became a major player in the international oil market. The British government acquired a controlling 51% stake in 1914, securing oil supplies for the Royal Navy during World War I. This government involvement shaped BP's early development as a strategic national asset.

Throughout the 20th century, BP expanded globally through exploration, acquisitions, and technological innovation. The company discovered oil in Alaska's Prudhoe Bay in 1968, one of the largest oil fields in North America. In 2000, the company rebranded from British Petroleum to BP with the tagline "Beyond Petroleum," signaling a shift toward renewable energy. Today, BP operates in over 70 countries and is considered one of the world's seven oil and gas "supermajors" alongside companies like ExxonMobil and Shell.

How It Works

BP operates through an integrated business model spanning the entire energy value chain.

Exploration and Production: BP explores for and produces oil and natural gas from reserves worldwide. The company has major operations in the Gulf of Mexico, where it operates the Thunder Horse platform, one of the largest semi-submersible platforms in the world. In 2022, BP's total hydrocarbon production was approximately 2.3 million barrels of oil equivalent per day.
Refining and Marketing: BP refines crude oil into petroleum products like gasoline, diesel, and jet fuel. The company operates 11 refineries globally with a total refining capacity of 1.7 million barrels per day. BP markets these products through approximately 20,000 retail sites worldwide under brands including BP, Amoco, and ARCO.
Low Carbon Energy: BP is investing in renewable energy as part of its transition strategy. The company aims to develop 50 gigawatts of renewable generating capacity by 2030 and has invested over $5 billion in low-carbon energy since 2020. BP operates significant wind, solar, and bioenergy projects across multiple continents.
Trading and Shipping: BP trades oil, gas, and energy products globally through one of the world's largest energy trading operations. The company manages a fleet of over 200 vessels and trades approximately 8 million barrels of oil equivalent daily. This trading activity helps optimize BP's supply chain and manage price volatility.

Key Comparisons

Feature	BP	ExxonMobil
Headquarters	London, England	Irving, Texas, USA
Founded	1909	1999 (Standard Oil origins: 1870)
2022 Revenue	$248.9 billion	$413.7 billion
Employees	Approximately 67,600	Approximately 62,000
Renewable Energy Target	50 GW by 2030	No specific capacity target
Major Operations	US Gulf, North Sea, Azerbaijan	US Permian Basin, Guyana, Qatar

Why It Matters

Global Energy Supply: BP supplies approximately 3% of the world's oil and natural gas, making it a crucial player in global energy markets. The company's operations affect energy prices, supply security, and economic stability worldwide. BP's trading activities influence benchmark prices for crude oil and refined products.
Energy Transition Leadership: BP has committed to becoming a net-zero company by 2050 or sooner. The company plans to reduce oil and gas production by 40% by 2030 compared to 2019 levels while increasing low-carbon investments to $5 billion annually. This transition strategy influences how other energy companies approach climate change.
Economic Impact: BP employs approximately 67,600 people worldwide and supports millions of indirect jobs through its supply chain. In 2022, the company paid $15.2 billion in taxes and royalties globally. BP's operations contribute significantly to government revenues in producing countries.

As the world transitions to lower-carbon energy systems, BP's evolution from a traditional oil company to an integrated energy provider will significantly influence global energy markets. The company's success in balancing traditional hydrocarbon operations with renewable energy investments will serve as a model for the entire energy sector. With operations spanning six continents and decades of experience, BP's strategic decisions will continue to shape energy accessibility, affordability, and sustainability for billions of people worldwide.