BP is a Publicly Owned company headquartered in the UK. Known legally as BP p.l.c. and formerly The British Petroleum Company p.l.c. and BP Amoco p.l.c., it operates as a British multinational oil and gas company. Founded in 1909, the company has approximately 63,800 employees and reported $180.4M in revenue as of 2020. It specializes in oil and gas, and is considered one of the oil and gas "supermajors" and among the world's largest companies by revenues and profits.
BP signaled a major strategy shift on February 21, planning to refocus on oil and gas and initiating a $5 billion write-down, departing from its brief clean energy foray and a previous pledge to go net zero by 2050, according to The Guardian. Previously on February 20, a BP job description for a Data Scientist underscored its purpose to "deliver energy to the world today and tomorrow" and its century-long focus on oil and gas production. Earlier the same day, Wood Mackenzie observed that Big Oil's strategy has returned to upstream activities, with executives prioritizing securing high-quality barrels to avoid production decline in the 2030s. Also on February 20, incoming BP CEO Meg O'Neill was noted for her consistent, demand-led, LNG-anchored strategy from her time at Woodside. Concurrently, BP's Vice President for the Caspian Region, Bakhtiyar Aslanbayli, affirmed the company's support for a publication aimed at bolstering legal culture and professional development in Azerbaijan.
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