Vintage photo of BP's head office at Britannic House Skyscraper in London

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Lord Browne resigned from BP on 1 May 2007. The head of exploration and production Tony Hayward became the new chief executive. [105] In 2009, Hayward shifted emphasis from Lord Browne's focus on alternative energy, announcing that safety would henceforth be the company's "number one priority". [106]

BP is operator with 28.6% interest; Shell, 28%; ConocoPhillips, 24%; and Chevron North Sea Limited 19.4%. First, the realisation that Russia’s invasion of Ukraine could ultimately cause the energy transition to accelerate. Paula Reynolds will then make some remarks on remuneration. And Ben Mathews will cover the procedural arrangements for today’s meeting.

12. bp - London Borough of Camden

Employees of the National Portrait Gallery and Searcys and their families, agents or anyone else connected with the competition are not permitted to enter. All of which were foundational for bp’s subsequent reinvention and launch of bp’s new strategy in 2020. Following World War II, nationalistic sentiments were on the rise in the Middle East; most notable being Iranian nationalism, and Arab Nationalism. In Iran, the AIOC and the pro-western Iranian government led by Prime Minister Ali Razmara resisted nationalist calls to revise AIOC's concession terms in Iran's favour. In March 1951, Razmara was assassinated and Mohammed Mossadeq, a nationalist, was elected as the new prime minister by the Majlis of Iran (parliament). [47] In April 1951, the Iranian government nationalised the Iranian oil industry by unanimous vote, and the National Iranian Oil Company (NIOC) was formed, displacing the AIOC. [48] [49] The AIOC withdrew its management from Iran, and Britain organised an effective worldwide embargo of Iranian oil. The British government, which owned the AIOC, contested the nationalisation at the International Court of Justice at The Hague, but its complaint was dismissed. [50] BP's upstream activities in the Lower 48states are conducted through Denver-based BPX Energy. [153] It has a 7.5 billion barrels (1.19billion cubic metres) resource base on 5.7million acres (23,000km 2). [202] It has shale positions in the Woodford, Oklahoma, Haynesville, Texas, and Eagle Ford, Texas shales. [203] [204] It has unconventional gas ( shale gas or tight gas) stakes also in Colorado, New Mexico and Wyoming, primarily in the San Juan Basin. [205] [206] [207]

I can also say that the board’s governance and decision-making framework has been further improved through the strong constructive challenge made possible by deep trust. In 1967, BP acquired chemical and plastics assets of The Distillers Company which were merged with British Hydrocarbon Chemicals to form BP Chemicals. [63]Of course, what we didn’t know then was how – or how soon – we would need to exercise that flexibility. This string of developments will follow from 2017’s seven major project completions and is key to delivering the 900,000 barrels of oil equivalent new production that BP expects from new upstream major projects by 2021.