If a criminal charge is filed against the company, the cost could be more than $50 billion. The aftermath of the disaster at the Deepwater Horizons oil rig continues to pose a significant challenge for BP. According to some analysts, the demise of British Petroleum was exaggerated. Nonetheless, despite these setbacks, British Petroleum is still a massive oil company with a strong presence in the Gulf. Despite its commitment to improving safety and deepwater drilling, many experts are skeptical of its ability to do so. Since the Macondo well explosion, which caused nearly $50 billion in losses, the company’s value has fallen. The company was renamed the British Petroleum Company Limited in 1954, and it was once known as the Anglo-Iranian Oil Company Ltd. On April 14, 1909, the company was initially known as the, Ltd. Because of the consolidation of the industry, smaller retailers have been forced to close. Despite this, the company still generates revenue and employs people in the United States, providing products and investments that help to sustain our economy. Due to a lack of fuel, a few BP stations have run out of unleaded and diesel fuel, but this isn’t a widespread issue. Bp’s Lorry Driver Shortage Causes Temporary Petrol Station Closuresĭue to a shortage of lorry drivers, the oil giant has temporarily closed a number of of its petrol stations. A small number of ExxonMobil’s 200 Tesco Alliance retail sites in the UK were also impacted, according to a company statement. The company has about 1,200 branded stations across the United Kingdom as of 2016. Finally, it is also possible that BP is closing gas stations in order to consolidate its operations.ĭue to a truck shortage, some of the company’s UK petrol stations have been temporarily closed. Additionally, the cost of running a gas station can be high, and BP may have decided that it is no longer profitable to keep its gas stations open. It could be due to a decline in demand for BP gas, as customers switch to other brands or alternative forms of transportation. There are a variety of reasons why British Petroleum (BP) gas stations may be closing.
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