Accounting case study on BP p.l.c Example | Topics and Well Written Essays - 1750 words

Accounting on BP p.l.c - Case Study Example erating in any gas and oil industry sector and this diversification includes production and exploration, distributing and marketing, trading, power generation, refining, and petrochemicals (Bp.com, 2014). The company is further engaged in production of renewable sources of energy that include wind power and biofuels. The company boasts of intense operations in slightly more than eighty countries across the globe with a production of more than three million barrels daily with estimated reserves of approximately seventeen billion barrels. The company has approximately twenty thousand seven hundred service stations globally with its largest front in America. The company’s success in financial terms is broad with notable investments in Rosneft, its listing in the â€Å"London Stock Exchange (LSE),† and it is a member of the â€Å"FTSE 10 index† (Bp.com, 2014). The company has a high market capitalization in the London Stock Exchange, which is approximately worth eighty five billion pounds with secondary listings in the New York Stock Exchange (NYSE) and Frankfurt Stock Exchange (FSE) (Bp.com, 2014). The company began its production efforts under the tag British Petroleum in the Middle East from early 1954 (Franck & Huyghebaert, 2004). It is regarded as the first oil company to find exploits in North Sea. The company has undergone different transformations and challenges along the years in terms of changes in ownership to oil related disasters that have contributed to its success and loss of revenue. BP operates under different product lines with unlimited opportunities for growth. These products include Air BP, BP Target Neutral, BP Franchising, Fuelling cards, Asphalt and Bitumen, BP Biofuels, Motor lubricants and oil, Petrol/gas station locator, Gas/Petrol stations, Industrial lubricants, Liquefied Natural Gas, Gas and power energy, BP Crudes, NGL, MSDS, BP shipping, Petrochemicals, Marine Fuels, and Lubricants (Bp.com, 2014). Air BP deals with a variety of