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It is ranked the sixth-largest in the world according to market value. The company has a wide reputation in oil and gas industry worldwide. It emphasizes on production, distribution, exploration, refining, and marketing. The company has flourished in trading, petro-chemicals, along with power generation and many other activities.
The British Petroleum has been competing with other gas and oil companies since a long time. British Petroleum, commonly known as the BP, produces more than 3. The BP was occupied by many safety, environmental, and political disputes during its intricate history.
When conducting a Pestle analysis for BP, we need to keep in mind the macro environmental factors which are as follows. Political Factors Political factors of any company include trading policies, inter-countries relations, lobbying, and many others. Energy markets in the world are getting quite unstable due to changing oil requirements and geopolitical variability of the Chinese economy which has been creating unpredictability amidst many countries.
Governments of other nations are encouraged to choose more sustainable energy forms because of climate destabilization from carbon dioxide emissions. Economic Factors The economy of many countries that depend on British Petroleum is supported by its energy supply.
There are many alternate sources of energy that are increasing and their growth is expected in less time which could bring along great threats to the BP. Social Factors The view of the world is changing in the eyes of people which is spreading worries about sustainability of the future.
Inan agreement was signed, the Kyoto agreement which made the emission trading and carbon funds to turn into a legal requirement. Many of the factors involving average society age, social attitude, cultural issues, and population growth effect the company socially.
Technological issues encountered by the British Petroleum has led to refine, explore, distribute, and market oil and gas. Environmental Factors When it comes to business, environment is a very important factor.
Harmful gases that are emitted due to refining, extracting, and producing petroleum effect the environment negatively.
A law has been imposed by the UK Environment Management System which helps to control the oil and gas production emissions. Legal Factors The government usually controls health and safety policies of any country. Similarly, government of the UK is very much concerned with workers of the oil and gas companies which aids personal health of people working in oil drilling, exploration, distribution, and disposal.
Raw material that is obtained is also a part of concern for the oil legislation. The British Petroleum has advanced and expanded a number of oil fields and refineries in various countries. The BP and its firms involve themselves in manufacture, investigation, shipping, refinement, and delivery of oil and gas.
Using the Pestle analysis, the investors get to know about it in detail. Conclusion Despite of all the economic uncertainties and globalization risks, British airways always strives to stay in the top competition and provides top quality service.
While customer satisfaction must always be the major aim the company should avoid drastic changes in business but should keep an eye on more appropriate marketing strategies.Got termites?
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Oil and Gas Industry in India Base your report on the “Diamond Model” framework of Porter, and the analysis of international business risks as presented in the textbook. * Factor conditions are human resources, physical resources.
Pest Analysis Gas Oil.
respect to Oil & Gas Industry INTRODUCTION India is the fifth largest consumer of energy in the world, and is likely to surpass Japan and Russia to become the world's third biggest energy consumer by Industry research tools for B2B marketing & sales teams.
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Get free market research reports today, then learn how to expand your marketing & sales research. The evaluation of PEST Analysis involves the Political, the Economic, the Social – Culture and the Technological environment in which an oil and gas company operates.
Political Factors. The threats for the business of oil and gas companies which are influenced by political factor and decisions are many, the main of them are: Geopolitical conflicts. WHO definitions of genetics and genomics.
Genetics is the study of heredity Genomics is defined as the study of genes and their functions, and related techniques. 1,2. The main difference between genomics and genetics is that genetics scrutinizes the functioning and composition of the single gene where as genomics addresses all .