BP SWOT analysis – SWOT analysis of BP: BP which was previously known as British Petroleum is one of the top companies in the world in the oil and gas sector. The company’s beginnings can be traced to 1908 when a Persian oil company found traces of a huge oil deposit in Iran.
Today, there is an addition to exploration as well as production BP has also been involved in refining/marketing as well as the supplies with oil and gas production and has an interest in the production and distribution of Chemicals, Gas & Power generation, as well as the manufacturing of photovoltaic (solar) solar cells. BP is also among the major barometer companies of the economic health that is the United Kingdom and the changes and valleys that the business has an influence on the economics that is based in this region. BP is the 3rd largest oil and gas storage facility in the globe, and the biggest retailer for gasoline within the US.
The company operates operations across Europe, North America, South America, Africa, and the Asia Pacific. The company is also among the largest sellers of aviation fuels and lubricants used in the shipping industry. The company recorded annual revenue of 240 billion dollars in the year 2018.
BP fun facts: Tyre manufacturer Goodyear India has entered into an agreement with PSU major Bharat Petroleum Corporation Ltd to open tyre care shops atsome of their petrol pumps.
About BP – SWOT analysis of BP
Company: Bharat Petroleum Corporation Limited (BPCL)
CEO: Arun Kumar Singh
Founder: Burmahshell Refineries Limited (BSR)
Year founded: 1952
Headquarters: Mumbai, Maharashtra, India
Annual Revenue: INR300,830 crore
Profit | Net income: INR19,042 crore
Number of employees: 9257
Products & Services: LPG | Automotive LPG | Fuel Oil | Crude Oil | Fuel Gas | ATF | Kerosene | Gas Oil
Competitors: IndianOil | Crodux | Savita | MEPET Metro Petrol | Hindustan Petroleum Corp Ltd. | Reliance Industries Ltd. | Nayara Energy
SWOT analysis of BP – BP SWOT analysis
SWOT Analysis Of BP is brand-based. SWOT Analysis of BP evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing BP’s SWOT Analysis. Below is the detailed SWOT Analysis of BP.
Let’s talk about BP’s SWOT assessment.
Strengths of BP – BP SWOT analysis
- Diversified interest: Though the primary area of operations of British Petroleum is oil & gas The company has expanded into various areas including lubricants and aviation fuel, energy as well as technology, information technology, and more. through its many subsidiaries such as Amoco; ARCO; BP Express, BP Connect; BP Travel Centre; AM/PM; Burmah Castrol, etc. This helps the company reduce its risks.
- Customer Loyalty: The clients of BP particularly in the oil sector are extremely brand loyal. They continue to source from the company and enjoy an ongoing and stable connection with them. In addition, certain customers of the company utilize British Petroleum to meet all their energy requirements.
- Global leadership: The firm is a leading market player in all of its segments. Apart from being the most dominant player in the oil and gas industry within the United Kingdom the company also plays an important role in ensuring an economic balance within the region. Marketing91 holds the title of the market-leading and largest supplier for gasoline within the United States.
- Network: The business operates across the globe in every sector and has operations across Europe, North America, South America, Africa, and the Asia Pacific. The company sells its products through AMOCO, its affiliate AMOCO across the Eastern United States, and ARCO in the west. It has 17,150 service centers in the region. The company operates more than 11,850 BP brand service stations, and 1,525 across the UK and sells its Castrol trademarked lubricants across more than 50 countries.
- Strong relationships with the customer: British Petroleum always ensures that they have strong connections with their clients. The company is sure to know their customers well and what they require. They strive to ensure that they don’t allow their customers to choose between different brands while catering to all their energy requirements.
Weaknesses of BP – SWOT Analysis Of BP
- Inability to successfully penetrate into markets that are not energy-related marketplaces: British Petroleum has various interests in a variety of areas, and this is most of the energy-related areas. However, the low presence in non-energy industries could impact the company’s business performance in the future.
- Disputations: The firm was involved in several scandals arising from oil spills across different regions of the globe, which affected their sustainability ratings in a dramatic way and damaged their reputation with their stakeholders. The oil spills also resulted in deaths of marine life and damaged the ecological condition dramatically.
- Ethical Questions: British Petroleum also faced numerous scandals arising from fraudulent transactions by employees, and they dealt with the controversy related to the spill badly, which further damaged the business and also gave the impression that the company wasn’t really concerned about the social conditions and the natural environment.
Opportunities of BP – BP SWOT analysis
- Alternative energy sources: British Petroleum is in a major position in the energy industry and is able to explore alternative energy sources like wind and tidal energy. The growing focus on sustainability around the world has created a wealth of opportunities for alternative energy sources. This could be the best path for the development of the business.
- Extension to the infrastructure: BP can try to work with emerging economies to develop solutions to infrastructure issues that make the use of alternative energy sources that will not only bring business benefits but will enhance its image as a BP brand, making it appear eco-friendly.
Threats of BP – SWOT analysis of BP
- Contest: The main competitors of British Petroleum are Shell and Chevron.
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Overview Template of BP SWOT analysis
BP has positioned itself as a global leader n the market with the inter in diversified areas and technology, a loyal customer base, and a strong network. However, like every company, they do have a few prominent shortcomings. Working on reducing their controversies and ethical issues with clear its slightly tainted image.
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