Bp Csr - 3693 Words

Strategic Corporate Social Responsibilities and Law Contents BP Company Info 3 Deepwater Horizon Oil Spill Event 4 Summary of the Deepwater Horizon Event 5 Stock price before and after Deepwater Horizon 7 Impact on Stakeholders 8 BP’s Oil Spills and Corporate Social Responsibility 9 Inadequate disclosure on the oil spill event 11 Recommendations for BP to get reputation back 13 Conclusion 14 BP Company Info BP is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured in terms of their revenues and stock prices. It is active in every area of the oil and gas industry, including exploration and production,†¦show more content†¦Scientists have also reported immense underwater plumes of dissolved oil not visible at the surface as well as an 8 km ² kill zone surrounding the blown well.[1] The U.S. Government has named BP as the responsible party, and officials have committed to holding the company accountable for all cleanup costs and other damage.[2] After its own internal probe, BP admitted that it made mistakes which led to the Gulf of Mexico oil spill. Summary of the Deepwater Horizon Event February 15, 2010 – Deepwater Horizon drilling rig, owned by Transocean, begins drilling on the Macondo Prospect.[6] The planned well was to be drilled to 18,000 feet (5,500 m) below sea level, and was to be plugged and suspended for subsequent completion as a subsea producer. April 6, 2010– The Department of the Interior exempted BPs Gulf of Mexico drilling operation from a detailed environmental impact study after concluding that a massive oil spill was unlikely. March 17, 2010 – BP Chief Tony Hayward sells one third of his BP stock (223,288 shares).[6] Closing BP price on March 17 on the New York Stock Exchange is 58.15. April 17, 2010 – Deepwater Horizon completes its drilling and the well is being prepared to be cemented so that another rig will retrieve the oil. The blowout preventer is tested and found to be functional.[8] Gagliano now reports that using only 6 centralizers would likely produce channeling and a failure of the cement job. AprilShow MoreRelatedSocial Responsibility and Managerial Ethics1527 Words   |  7 PagesIntroduction Corporate social responsibility(CSR) refers to the managers are not only create profit for shareholders, but also assume the responsibility for employees, consumers and other stakeholders.(Robbins, Bergman, Stagg Coulter 2008). Corporate social responsibility requires companies to exceed traditional goals of profit-worship and make contribution to public welfare in the working process. Companies spend more time and resources in managing social responsibility to coordinate the benefitRead MoreBp s Improve Sustainability And Its Reputation For The Deepwater Horizon Disaster1620 Words   |  7 Pagesgentleman by the name of William D’Arcy is the founder of the world famous gas station BP. D’Arcy had a thrill over oil and decided to invest all of his savings in the quest for oil in the Middle East. Experts and scientists helped encourage D’Arcy to pursue the vent ure. 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