wned or had a share in 13 refineries producing refined petroleum products that it supplies to retail and commercial customers. Logistics and Marketing: Downstream of the company’s refineries, it operates an advantaged infrastructure and logistics network that includes pipelines, storage terminals and tankers for road and rail. It supplies fuel and related retail services to consumers through company-owned and franchised retail sites, as well as other channels, including dealer and jobbers. The company also supplies commercial customers within the transport and industrial sectors. Supply and Trading: The company’s integrated supply and trading function is responsible for delivering value across the overall crude and oil products supply chain. The company operates as an aviation fuels supplier. The company’s lubricants business manufactures and markets lubricants and related products and services to the automotive, industrial, marine and energy markets across the world. Its key brands are Castrol, BP and Aral. The company manufactures and markets four main product lines, such as purified terephthalic acid (PTA); paraxylene; acetic acid; and olefins and derivatives. It also produces various other specialty petrochemicals products. The company is licensing its distinctive technologies, including licensing agreements for its latest generation PTA technology in Oman and China. Strategy: The company’s strategy focuses on a quality portfolio that aims to lead the industry. Its lubricants strategy is to focus on the company’s premium brands and growth markets while leveraging technology and customer relationships. Rosneft This segment includes upstream and downstream operations of Rosneft. Upstream: Rosneft operates as an oil company in Russia and worldwide. Rosneft has a resource base of hydrocarbons onshore and offshore, with assets in all hydrocarbon regions of Russia: West Siberia, East Siberia, Timan-Pechora, Volga-Urals, North Caucasus, the continental shelf of the Arctic Sea, and the Far East. Rosneft participates in international exploration projects or has operations in countries, including the U.S, Canada, Vietnam, Venezuela, Brazil, Algeria, the United Arab Emirates, Turkmenistan and Norway. Downstream: Rosneft owns and operates 10 refineries in Russia. As of December 31, 2015, Rosneft owned and operated approximately 2,500 retail service stations in Russia and abroad. Downstream operations also include jet fuel, bunkering, bitumen and lubricants. Significant Events In March 2016, BP and Kuwait Petroleum Corporation have signed a framework agreement to explore possible joint opportunities for investment and cooperation in future oil, gas, trading and petrochemicals ventures. In June 2016, OJSC Rosneft and BP PLC have signed final binding agreements to form a joint venture for onshore exploration in two Siberian basins (OGJ Online, June 19, 2015). Rosneft would have 51% in Yermak Neftegaz LLC, which would conduct exploration activities in the areas of mutual interest (AMI) totaling about 260,000 sq km in the West Siberian basin and the Yenisey-Khatanga basin. In September 2016, Rosneft and BP to form the Yermak Neftegaz joint venture. Rosneft and BP signed an agreement to form the JV for exploration in Siberia in June. Rosneft would own 51% of the new company and BP would own 49%. The venture would conduct exploration in two areas of mutual interest: Western Siberia and the Yenisei-Khatanga basin with a combined area of 260,000 square km. History BP p.l.c. was founded in 1889.
bp plc-spons adr (BP:New York)
1 St James's Square
London, SW1Y 4PD
Phone: 44 20 7496 4000
Fax: 44 20 7496 4630www.bp.com
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