BP

BP p.l.c. (, ) is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas supermajors . It is vertically-integrated and is active in every area of the oil and gas industry, including exploration and production , refining , distribution and marketing , petrochemicals , power generation and trading . It also has major renewable energy activities, including in biofuels , hydrogen , solar and wind power . BP has operations in over 80 countries, produces around 3.8 million barrels of oil equivalent per day and has 22,400 service stations worldwide. The name BP derives from the initials of one of the company s former legal names, British Petroleum . BP s track record of corporate social responsibility has been mixed. The company has been involved in a number of major environmental and safety incidents and received criticism for its political influence. However, in 1997 it became the first major oil company to publicly acknowledge the need to take steps against climate change , and in that year established a company-wide target to reduce its emissions of greenhouse gases . BP currently invests over $1 billion per year in the development of renewable energy sources, and has committed to spend $8 billion on renewables in the 2005 to 2015 period. BP s primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index . As of December 2011, it was the 4th largest company on the FTSE, with a market capitalisation of £87.1 billion. It has a secondary listing on the New York Stock Exchange .

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