BP - John Browne Bets on Asia: The Strategic Logic
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Code : COM0095
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Region : Asia
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BP - An Overview The present company BP, the world's second-largest integrated oil company, was formed in 1998 as a result of the merger of British Petroleum and Amoco, a US-based global oil and gasoline conglomerate. The company has business operations in oil exploration and production, refining and marketing, petrochemicals and gas, power and renewables. Exploration and production activities include oil and natural gas exploration and field development and production, together with pipeline transportation and natural gas processing... Growth Opportunities in Asia While Russia provided exploration opportunities because of its reserves, Asian countries were lucrative because of their growing markets. And with fewer opportunities in upstream business of oil exploration and production because of declining oil reserves, many western oil companies were exploring downstream opportunities in refining and marketing in Asian countries. BP boosted its efforts to establish itself in the world's two fastest growing petroleum markets, China and India... The Challenges Chinese authorities have been concerned that the country's rapid industrialization has put pressure on its energy reserves, leading to power shortages in some areas. The government has been encouraging the state-controlled oil companies to secure assets and companies overseas. But the Chinese companies have been rebuffed in their efforts to secure oil reserves outside their country... |
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