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British Petroleum
ESC Rennes School of Business

Essay:
BRITISH PETROLEUM OIL SPILL AND CRISIS MANAGMENT

MEDINA Anna
Master of Science in International Finance
Corporate Governance
Tess Taubler
November 22, 2010

BRITISH PETROLEUM OIL SPILL AND CRISIS MANAGMENT
Introduction
Over the time, we had seen a lot of enterprises growing, disappearing, changing and managing different situations and the way that they can handle any problem could be result in a successful history, they can learn about it or otherwise could be a problem and bring the end of the firm. There is a lot of factors that affect the way that one firm can solve their crisis in a good or in a bad way, but the main question is what happen when the issue is related with one of the most controversial and needed products around the world, the oil, a non-renewable energy that according to Richard Adams (1991, Changing Corporate Values) the price of oil reflects its scarcity: the more people want, the more people pay. This situation become more complicated for an enterprise which operations are focuses in oil and gas production and exploration and is one of the biggest in the world, British Petroleum.
On April 20, 2010 British Petroleum (BP) suffered one of the major and worst accident that a company can faced because involved and affected all it related parts: investors and its obligations with stakeholders, enterprise, authority, customers, environment, board of directors and even the economy of one country. On April 20, 2010 following the timeline of BBC news (September 2010, Timeline: BP oil spill) there was an explosion and fire on the BP Transocean drilling rig Deepwater Horizon in the Gulf of México, killing 11 workers and causing an oil spill that became the worst environmental disaster in US history. The consequences of this disaster are multiples, Julie Gerstein (June 2010, The Gulf of Mexico oil spill in numbers) from Daily Green shows us the different losses around this unfortunately accident, 5


References: British Petroleum (2010), www.bp.com; (reviewed on November 13, 2010). Yahoo Finance (2010); http://uk.finance.yahoo.com/q?s=BP.L ¸(reviewed on November 14, 2010). Burke Jill, Alaska Dispatch (May 17,2010); http://alaskadispatch.com/dispatches/energy/5369-bp-still-fighting-fines-stemming-from-06-oil-spills-at-prudhoe-bay (reviewed on November 13, 2010). Greenpeace;(2010) What behind BP Logo; http://www.greenpeace.org.uk/files/tarsands/tar-sands.html (reviewed on November 13, 2010). Guardian.co.uk; (November 12, 2010) BP oil spill timeline; http://www.guardian.co.uk/environment/2010/jun/29/bp-oil-spill-timeline-deepwater-horizon (reviewed on November 13, 2010). Korsec Kirsten, bnet.com (May 7,2010); BP´s History of Oil spills and accidents; http://www.bnet.com/blog/clean-energy/bp-8217s-history-of-oil-spills-and-accidents-same-strategy-different-day/1768 (reviewed on November 13, 2010). News Inferno (October 27, 2010); Halliburton Cement Work Faulted in BP Oil Spill; http://www.newsinferno.com/oil-spills/halliburton-cement-work-faulted-in-bp-oil-spill/ (reviewed on November12, 2010). Federaljacktube2 (May 5, 2010); BP CEO says Oil spill isn´t their fault; http://www.youtube.com/watch?v=yS508iNYPqs&feature=related (reviewed on November 14, 2010). BPplc (May 13, 2010); Tony Hayward PTC, http://www.youtube.com/watch?v=zN8pOcLTl8E&NR=1 (reviewed on November 14, 2010). BPplc (May 28, 2010); Tony Hayward in ABC News Good Morning America; http://www.youtube.com/watch?v=GeJM3ZWrlu4&feature=channel (reviewed on November 14, 2010). BPplc (May 28,2010);Tony Hayward on CBS News, The early show; http://www.youtube.com/watch?v=mIpGunLy4DM&NR=1 (reviewed on November 14, 2010). Climatebrad (May 30,2010); I´d like my life back; http://www.youtube.com/watch?v=MTdKa9eWNFw (reviewed on November 14, 2010). BPplc (June 3, 2010); A message from Tony Hayward; http://www.youtube.com/watch?v=KKcrDaiGE2s&NR=1 (reviewed on November 14, 2010).
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