It was the first commercially significant find of oil in the Middle East. The oil discovery led to petrochemical industry development and also the establishment of industries that strongly depended on oil. Some of the shares were sold to the public. The refinery was built and began operating in
Discovery of oil in Iran resulted in the formation of the Angelo-Persian oil company which ultimately became the BP. The company made huge profits, and in the company changed its name to British Petroleum.
The British government then privatized the company during the tenure of Prime Minister Margaret Thatcher. In the late s, the company emphazed heavily to reduce its overheads and set extremely tough financial targets for the managers.
The company made several acquisitions in that period to compete with the Industrial giants such as Shell and Exxon. Despite the financial success, the company had a poor record of health and safety issues.
The refinery had a major fire accident in in Texas which resulted in several injuries and casualties. The company had also seen some major explosions and fire after the Texas incident.
In April the company saw a major accident at Deepwater Horizon, an offshore oil-drilling rig managed by BP, which also resulted in severe financial, reputational loss along with the demise of its labor.
The leadership of BP: The leadership of BP has not learned from the mistakes of its past; the same incident happened in which also resulted in many casualties and injuries. Also, the lack of communication and unclear roles of the employees and subcontractors has also resulted in this disaster.
The strategy of the CEO and top leadership after the incident was also heavily criticized by the general public as well as government officials and media. After the disaster, the CEO who was the leader of the organization, instead of bringing reforms to the policies of the company, Mr.
Despite having the vast history of crises and incidents the leadership of BP lacks the ability to tackle these kinds of situations. Furthermore, the leadership of BP is increasingly focused on short-term performance rather than focusing on long-term objectives.
The cost-cutting measures results in the poor health and safety management. This cost cutting policy also allows BP to enjoy heavy growth in profits but,only by compromising on the health and safety of the workers and marine life.
According to the leadership of BP, the oil spill is primarily caused due to thefailure of various systems, however, merely blaming the system is not justified because it is the leadership who is responsible for designing the systems which are effective and sound enough to prevent the disaster and ifhappens to mitigate the loss of disaster.
Analysis of Culture of BP: To prevent the incident from occurrence, the leadership and management are responsible for designing and implementing the culture of honesty and enforce people to monitor the potential occurrence of a catastrophe.
It can be seen that there is a dysfunctional organizational culture throughout the BP, the authority should be given to the people who possess the necessary skills to make the effective decisions, and this seems to be missing at BP.
After the explosion, therewas ambiguity regarding the responsibility of the incident This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.Select bibliography on petroleum geology of southern England.
BP is one of the world's leading integrated oil and gas companies. We provide customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.
BP and the Gulf of Mexico Oil Spill Case Solution,BP and the Gulf of Mexico Oil Spill Case Analysis, BP and the Gulf of Mexico Oil Spill Case Study Solution, On the night of April 20, , a succession of explosions rocked the Deepwater Horizon oil rig in the Gulf .
The Deepwater Horizon Spill ‘On the night of April 20, , the Deepwater Horizon oil rig, located 72 kilometers offshore southeast of Venice, Louisiana, exploded and caught fire, resulting in the deaths of eleven workers. Bp oil spill case study 1.
Ranjeet Kumar Singh 2. April 20, - A wellhead on the Deep Water Horizon oil drilling platform blew out in the Gulf of Mexico About million barrels (, m3) of petroleum released Oil Slick Covering an area of miles by 70 miles. Our case studies demonstrate how root cause analysis applies to a variety of problematic scenarios.
This study investigates the Deepwater Horizon Oil Spill.