ExxonMobil, British Petroleum, petroleum, BP, Shell, Royal Dutch Shell, Chevron, petrochemicals, fuels, lubricants, natural gas, liquefied natural gas, Gulf Coast, Texas,
ExxonMobil is an American multinational, with its corporate headquarters in the city of Irving in the state of Texas. It is considered a leader in the industry of energy and petrochemicals in all its fundamental characteristics, they operate facilities: managing all processes from manufacturing to marketing commodity petrochemicals, the production of goods made out of petroleum, and fuels for transportation means, as well as the sale of crude oil and natural gas in many countries around the Globe, they are also highly engrossed in exploring for natural gas and crude oil in the vast lands of all six continents...
British petroleum known as BP is a British multinational based in London. It operates in the oil and gas industry covering all its large areas, as well as exploring and searching for gas and oil all around the world with the use of technology SEISMIC IMAGING which is a lens that is utilised to explore below the surface in search of hydrocarbons not to forget the production, the sale of refined petroleum goods, distribution and fuels marketing businesses, market lubricants for automotive use, and petrochemicals.
[...] The program also offered an annual grant of $100,000 to professors and other research grants for younger scientists (British Petroleum, no date). British Petroleum is present is Europe, north and South America, Australia, Asia and lastly, Africa, across a total of 70 countries, which enables the countries to have various profit streams. Unfortunate event for British Petroleum, April the US lived the most destructive oil spill in its history, the discharge was caused by a massive explosion in the company's Deepwater horizon oil rig right in the Gulf of Mexico, resulting in 11 deaths and the spill of millions of barrels of crude oil. [...]
[...] The company has identified many opportunities that it will take advantage of in the near future and we can count many of them. In their annual report, ExxonMobil mentioned that the expected worldwide demand for oil is estimated to rise by 20% in the upcoming two decades, and that the oil energy will always be a primary resource used for transportation and as a feedstock, on the other hand, the demand for natural gas is expected to rise to 40% in the next two decades. [...]
[...] Critical analysis of ExxonMobil and British Petroleum I. Overview of the companies A. ExxonMobil ExxonMobil is an American multinational, with its corporate headquarters in the city of Irving in the state of Texas (ExxonMobil, no date). It is considered a leader in the industry of energy and petrochemicals in all its fundamental characteristics, they operate facilities: managing all processes from manufacturing to marketing commodity petrochemicals, the production of goods made out of petroleum, and fuels for transportation means, as well as the sale of crude oil and natural gas in many countries around the Globe, they are also highly engrossed in exploring for natural gas and crude oil in the vast lands of all six continents (ExxonMobil, no date). [...]
[...] Threat of Substitutes (Low) Nuclear, coal, hydrogen, biofuels, biodiesel, resources, and other renewable energies. This requires a large investment in research and development as well as a high level of innovation, so the risk is still relatively small D. Bargaining Power of Buyers (Medium) - Main customers of oil and gas companies are Refineries, national and international gas and oil corporations, traders as well as distribution companies, and lastly, countries. The nature of the industry does not enable the buyers to have a strong buying power, due main oil benchmarks done by: (Brent blend, west Texas intermediate and Dubai/Oman, therefore the buyers have no power over the industry except maybe the quality of the products (gas and oil) E. [...]
[...] As it has been mentioned before, the activity itself is bound and under a lot of laws that control it and to which the business should take into serious considerations. The company has been working to decrease its pollution levels, emissions, and water spills considerably, unfortunately, it never seems to be enough as the amount of pollution and contamination is still extremely high and is costing the company a lot of money, and lousy reputation among citizens of the world and environmental organisation. Some strategies adopted by the company: constant improvement of their portfolio, maintaining the best operational excellence. Delivering high quality products as well as services. [...]
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