Pres Article: History of British Petroleum Flashcards
What was BP originally founded as in 1909?
Anglo-Persian Oil Company
What event significantly contributed to BP’s growth during WWI?
Naval oil demand.
Which company did Saudi Arabia nationalize and why?
Aramco - Gave control over oil pricing and resources
What caused BP to lose access to key oil supplies in the 70s?
Oil crisis coming from OPEC’s rise and nationalization efforts.
Who played a critical role in Saudi Arabia’s negotiations with Aramco in the 70s?
Ahmed Zakiyamani.
What major reconstructing project did BP implement in 1990?
Project 1990.
What strategy helped BP survive after its Iranian assets were nationalized?
Diversified into NA and North Sea
What was one result of BP’s overreliance on foreign oil resources?
Was vulnerable to nationalist movements.
