BP SWOT Essay Example for Free

BP SWOT EssayStrengthStrong profit in safetyBP foc riding habits on new research and product innovation, leading in new detective and likewise improving in safety and procession in the work places. According to Safer drilling (n.d.), BP use Blowout preventer (BOP) engineering to support safety in offshore rigs in Brazil. Using heights technology likes digital radiography can evaluate and determine underground structure in the North Sea. BP also improves the new tools called Permasense corrosion probes to supervise walls thickness in refining process ( husky research, 2013). This equipment is an effective method to control and protect the probability in wall crake.Weakness ecological impacts of oil spillage damage reputationBP experienced a reputation risk in monetary value of both public reaction and biological response. About 5 million BP raw oil spilled in 2010, causing a disaster on ecosystem. Dragovic (2013) stated that oil spill would constraint species of wildlife bec ause residues of harmful substances could not be cleanup completely. It also disrupts the chain of wildlife. BP was deluged with blame and disappointment from the pubic. It would take BP quite some while to rebuild its brand-image. (Walt, 2010)OpportunityGrowing demand on renewable energyThe world has increasingly development demand for renewable energy. The orbiculate renewable consumption will increase to 6.3% (2030) of energy demand from 1.8% (2010). BP is prompt to place emphasis on development of renewable energy (Morales, 2012). Consumers have a tendency to get hold of to use renewable energy. According to consumer demand is growing (2011), there are 48% of subjects who are automatic to use renewable energy and 49% are prepared to pay additional cost for that. flagellumLack of oil and gas reservoirsOil and gas businesses are high competition because companies gain high benefits. From long period in operation, the gross oil and natural gas around the world is declining th at miserly the fossil fuel in the future will run out. According to OPEC portion out of world crude oil reserves 2012 claim that now OPEC has only 1,200 billion set in reserves global fossil energy In 2010 individual and organization used approximately 87 million barrels per day. The biggest fuel consumer is Asia and Oceanic region. They used around 27 million barrels per day and gradually both year from 2006-2010. Recently, people utilize oil and gas rather than producing. (International Energy Statistics, n.d.)ReferencesConsumer demand for renewable energy is growing. (n.d.). Retrieved from http//www.windmade.org/for-companies/global-wind-study/consumer-demand-for-renewable-energy-is-growing.aspx Dragovic, D. (2013, March 19). Environmental impact of the BP oil spill. Retrieved from http//livinggreenmag.com/2013/03/19/energy-ecology/environmental-impact-of-the-bp-oil-spill/ International Energy Statistics. (n.d.). Retrieved from http//www.eia.gov/cfapps/ipdbproject/iedindex3.c fm?tid=5pid=54aid=2 OPEC share of world crude oil reserves 2012. (n.d.). Retrieved from http//www.opec.org/opec_web/en/data_graphs/330.htm Marketline. (2013, August 23). Company profile BP Plc. Retrieved from Business witnesser Complete database. Morales, A. (2012, January 18). Renewable-energy growth to outpace oil, gas through 2030, BP Says. Retrieved from http//www.bloomberg.com/news/2012-01-18/renewables-to-grow-more-than-8-a-year-through-2030-bp-says.html Safer drilling (n.d.). Retrieved from http//www.bp.com/en/global/ bodied/sustainability/safety/preventing-and-responding-to-accidents-and-oil-spills/safer-drilling.html The Gulf of Mexico oil spill consequences for the oil and gas industry. (2011, February 15). Retrieved from http//uk.practicallaw.com/3-504-7901?service=crossbordera684683 Wearden, G. (2010, April 27). BP profits jump by and by oil price rise. Retrieved from http//www.theguardian.com/business/2010/apr/27/bp-profits-jump-oil-prices-ris Walt, V. (2010, July 19) . Can BP ever rebuild its reputation? Retrieved