BP Plc is an integrated energy business with operations in Europe, North and South America, Australasia, Asia and Africa. As of 31 December 2019, BP Plc operates in 79 countries, has proved reserves of 19,341 million barrels of oil equivalent, and has 58,000 square kilometres of new exploration access.
BP operates through a vertically integrated to structure, undertaking exploration, extraction and supply of oil, natural gas and petroleum. BP also owns a large convenience store chain that is attached to their gas stations. It also invests in and supplies energy from low-carbon and renewable sources, in addition to being a leading producer of photovoltaic cells. The company was privatised when the British government sold its holdings in the 1980s, and in 1998 BP merged with the US-based Amoco Corporation in a USD 47.9 billion deal.
BP's brands include BP, Castrol, Aral, ampm, Amoco, and WildBean.
BP Plc is listed on multiple stock exchanges, which include: London Stock Exchange (LSE) under the code BP; Frankfurt Stock Exchange (FWB) under the code BPE; and the New York Stock Exchange (NYSE) under the code BP.
Downstream - BP's downstream activities include the refining, manufacturing, marketing, transportation, and supply and trading of crude oil, petroleum, petrochemicals products and related services to wholesale and retail customers. For the the financial year end 31 December 2019, the downstream segment accounted for 89.77% (USD 249,924 million) of total revenue.
Upstream - BP's upstream activities include oil and natural gas exploration, field development and production; midstream transportation, storage and processing; and the marketing and trading of natural gas, including liquefied natural gas (LNG), together with power and natural gas liquids (NGLs). For the the financial year end 31 December 2019, the upstream segment accounted for 9.87% (USD 27,467 million) of total revenue.
Other businesses and corporate - The other businesses and corporate segment comprises the biofuels and wind businesses, the group’s shipping and treasury functions, and corporate activities worldwide. For the the financial year end 31 December 2019, the other businesses and corporate segment accounted for 0.36% (USD 1,006 million) of total revenue.
Note: BP’s interest in Rosneft is accounted for using the equity method and is reported as a separate operating segment, reflecting the way in which the investment is managed.
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