Strategic Framework in BP-Deepwater horizon accident

One of the most eminent names in the oil and gas industry is British Petroleum, considered as the largest provider of oil and gas to its customers for transportation, energy for heating and light and retail services for petrochemical products globally. The financial and operational picture of the company's performance is illustrated in table1 below.

Performance at a glance for 2010

Facts and figures

Sales and other operating revenues

Replacement cost profit

Number of employees

Proved reserves

Retail sites

Upstream

Refineries (wholly or partly owned)

Refining throughput

$297,107 million (year 2010)

($4,519) million (year 2010)

79,700 (at 31 Dec 2010)

18,071 million barrels of oil equivalent

22,100

Active in 29 countries

16

2,426 thousand barrels per day (year 2010)

(BP's Corporate website, 2010)

On 20th April 2010 the company faced a serious challenge when one of its oil rigs started leaking and simply couldn't...
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