Key Stats
Founded: April 14, 1909 in London, United Kingdom
Headquarters: 1 St James’s Square, London, UK
CEO: Carol Howle (interim); Meg O’Neill (from April 2026)
Employees: Approximately 100,500
Stock Symbols: LSE: BP, NYSE: BP
BP Plc ranks among the world’s largest integrated oil and gas companies. The British multinational operates across exploration, production, refining, distribution, and marketing of petroleum products. BP serves customers in approximately 61 countries through its upstream and downstream segments.
The company produces around 2.4 million barrels of oil equivalent per day. BP operates approximately 21,200 service stations worldwide under the BP, Amoco, and Aral brand names. Its proven reserves total 6.25 billion barrels of oil equivalent.
BP generated $189.2 billion in total revenue in 2024. The company trades on both the London Stock Exchange and the New York Stock Exchange. BP remains the fifth-largest investor-owned oil company globally by revenue.
BP Plc History
The BP Plc story began with English investor William Knox D’Arcy, who secured an oil concession from the Shah of Persia in 1901. After years of exploration and near bankruptcy, geologist George Reynolds struck oil at Masjid-i-Suleiman on May 26, 1908. This discovery became the first commercially significant oil find in the Middle East.
The Anglo-Persian Oil Company was incorporated on April 14, 1909, as a subsidiary of Burmah Oil Company. The British government purchased a 51% controlling stake in 1914 to secure fuel supplies for the Royal Navy. This strategic move shaped BP’s development for decades.
1908
Oil discovered at Masjid-i-Suleiman, Persia on May 26. First commercially significant oil find in the Middle East after years of exploration.
1909
Anglo-Persian Oil Company incorporated on April 14 as a subsidiary of Burmah Oil Company with authorized capital of £2 million.
1914
British government acquired 51% stake to secure oil supply for Royal Navy. Winston Churchill championed the strategic investment.
1935
Company renamed Anglo-Iranian Oil Company after Persia officially became Iran.
1954
Company renamed The British Petroleum Company following Iranian oil nationalization crisis.
1965
First commercial natural gas discovery in British waters of the North Sea at West Sole field.
1970
Discovered Forties field, the first major commercial oil find in British North Sea waters.
1998
Merged with Amoco in a $48 billion deal, creating BP Amoco and the largest industrial merger in history at that time.
2000
Acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol, becoming a global supermajor oil company.
2001
Rebranded as BP plc with green Helios sunburst logo, positioning as “Beyond Petroleum.”
BP Plc Co-founders
William Knox D’Arcy
English investor who secured the Persian oil concession in 1901. His financial backing funded the exploration that led to the 1908 discovery.
Burmah Oil Company
British company that provided critical financial support after D’Arcy’s funds depleted. Incorporated Anglo-Persian as its subsidiary in 1909.
BP Plc Competitors
BP operates in the highly competitive global oil and gas industry alongside several multinational supermajors. These companies compete across exploration, production, refining, and retail fuel distribution worldwide.
| Company | Headquarters | Products |
|---|---|---|
| ExxonMobil | Irving, Texas, USA | Oil, natural gas, petrochemicals |
| Shell | London, United Kingdom | Oil, gas, LNG, renewables |
| Chevron | San Ramon, California, USA | Oil, gas, geothermal energy |
| TotalEnergies | Courbevoie, France | Oil, gas, renewables, electricity |
| Eni | Rome, Italy | Oil, gas, chemicals |
| ConocoPhillips | Houston, Texas, USA | Oil and gas exploration |
| Equinor | Stavanger, Norway | Oil, gas, offshore wind |
| Saudi Aramco | Dhahran, Saudi Arabia | Oil, gas, chemicals |
| Repsol | Madrid, Spain | Oil, gas, petrochemicals |
| Petrobras | Rio de Janeiro, Brazil | Oil, gas, biofuels |
BP Plc Acquisitions
BP transformed into a global supermajor through strategic acquisitions during the late 1990s and early 2000s. CEO John Browne orchestrated three major deals that reshaped the company’s scale and competitive position in the industry.
The landmark 1998 merger with Amoco valued at $48 billion created the then-largest industrial combination in history. This deal combined BP’s international expertise with Amoco’s strong North American presence. The merger immediately established BP Amoco among the top three global oil companies.
BP Amoco acquired Atlantic Richfield Company (ARCO) for $26.8 billion in 2000. ARCO brought significant Alaskan oil reserves and a network of gas stations across the western United States. The Federal Trade Commission required BP to divest ARCO’s Alaskan holdings before approving the transaction.
The $4.7 billion acquisition of Burmah Castrol in 2000 added the Castrol lubricants brand to BP’s portfolio. This deal strengthened BP’s downstream operations and provided access to emerging markets in Asia, India, and Latin America. Burmah Oil had historical significance as the original backer of BP’s founding.
More recent acquisitions reflect BP’s evolving strategy. The company purchased TravelCenters of America for $1.3 billion in 2023, expanding its truck stop network. BP acquired Bunge Bioenergia for $1.4 billion in 2024 to increase ethanol production capacity. In December 2025, BP announced the sale of 65% of Castrol to Stonepeak for approximately $6 billion to reduce debt.
BP Plc Revenue
BP Plc reported $189.2 billion in total revenue for 2024, representing a 9.97% decrease from $210.1 billion in 2023. Revenue fluctuations reflect volatile oil and gas prices and global energy market conditions.
BP Plc Annual Revenue (in Billions USD)
BP Plc Marketcap
BP Plc maintains a market capitalization of approximately $90 billion as of January 2026. The company’s valuation has fluctuated significantly over the past decade based on oil prices, strategic decisions, and market conditions.
BP Plc Market Capitalization (in Billions USD)
FAQs
When was BP Plc founded?
BP Plc was founded on April 14, 1909, as the Anglo-Persian Oil Company in London. The company formed after oil was discovered in Persia (now Iran) in 1908 by geologist George Reynolds.
Who founded BP Plc?
William Knox D’Arcy founded BP Plc. He was an English investor who secured the original oil concession from the Shah of Persia in 1901. Burmah Oil Company provided financial backing.
Where is BP Plc headquarters located?
BP Plc headquarters is located at 1 St James’s Square in London, United Kingdom. The company has maintained its global headquarters in London since its founding over a century ago.
What does BP stand for?
BP originally stood for British Petroleum, the company’s name from 1954 to 2001. In 2001, BP rebranded with the “Beyond Petroleum” slogan and officially shortened its name to just BP plc.
How many employees does BP Plc have?
BP Plc employs approximately 100,500 people worldwide as of 2024. The company announced plans in January 2025 to reduce headcount by about 4,700 staff and 3,000 contractors.