We apply our capabilities of advanced technology, strong relationships and proven expertise across our operations to help us deliver against our strategic priorities in ways that we believe set us apart from our peers. These examples reflect our distinctive ways of working across the business
Our partnerships in Russia
BP has been collaborating with leading Russian oil and gas companies for 25 years, creating a successful presence in a country with some of the largest oil and gas reserves and greatest potential worldwide. Through or partnership with Rosneft, the world’s largest listed oil company in terms of production volume, we are able to build on the experience and success we have achieved over the past quarter century and continue to grow BP’s business in Russia.
Global energy trading
Using our knowledge and insights to help keep the world’s energy moving, our energy trading function is BP’s face to global energy markets and an integral part of our upstream and downstream operations. We offer a combination of expertise in physical supply and trading, innovative financial structures and advanced analytics to deliver long-term value, from wellhead to end customer. We trade a variety of physical products such as crude oil, refined products, natural gas, LNG and power, and aim to maximize value from our assets by managing the flow of these commodities.
Innovative customer offers
We provide our customers with a broad range of premium products, tailored to meet their needs. Our Castrol brand has a long history of product innovation and industry firsts, such as our recently launched Nexcel oil-change technology. In retail, our combination of quality brands creates a highly differentiated offer. For example, in the UK this includes our partnership with Marks & Spencer, a market-leading loyalty programme with Nectar, the Wild Bean Café and Apple Pay®.
We have considerable experience of managing the complexities of large projects with multiple parties. For example, BP is leading the Shah Deniz Stage 2 and Southern Corridor projects, in partnership with 10 other national and international oil companies, to construct one of the world’s longest pipelines from Azerbaijan to Italy. Our history of working with governments, international agencies, communities and partners has proved invaluable in establishing the route between the landlocked Caspian Sea and the Mediterranean.
Pioneering commercial arrangements
We find innovative and mutually beneficial ways of working. The Rumaila oil field in Iraq is one of the world’s largest by production, although this had fallen after years of conflict and underinvestment. In 2009 BP and China National Petroleum Corporation committed to work with Iraq’s South Oil Company to modernize operations and increase production. BP recovers costs, irrespective of oil price, and a fee per barrel of incremental production above a defined threshold.