BP 2014 Annual Report Download - page 9
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Rosneft is Russia’s largest oil company
and the world’s largest publicly traded
oil company in terms of hydrocarbon
production. BP’s 19.75% share of Rosneft’s
proved reserves – on an SEC basis is
5 billion barrels of oil and 10 trillion cubic
feet of gas. Rosneft’s downstream
operations include interests in 14 refineries.
See page 33 for further information.
We received our first UK North Sea exploration
licence 50 years ago. Since then, we’ve
developed activities that cover the entire
industry life cycle, from access and exploration
to production and decommissioning. We operate
more than 20 oil and gas fields, two major
terminals and an extensive network of pipelines.
Petrochemicals produces products across 16
manufacturing sites and sells them to
customers in more than 40 countries.
Approximately 48% of petrochemicals
capacity is in Asia, 27% in the US and 25% in
Europe.
Petrochemicals
Azerbaijan RosneftNorth Sea
Angola is Africa’s second largest oil producer.
We have interests in nine major deepwater
blocks with a total acreage of more than
32,600km2. Our Cravo, Lirio, Orquidea
and Violet (CLOV) project is planned
to develop significant resources across its
development areas.
Angola
We invest more in Azerbaijan than any
other foreign company, operating two
production-sharing agreements★ as well as
holding other exploration leases. The Caspian
Sea is one of the world’s major hydrocarbon
provinces, and development of the region’s
offshore oil and gas fields and onshore
pipelines has made Azerbaijan a focal point
of the global energy market.
We market lubricants and related products
and services in approximately 75 countries
through direct sales or locally approved
distributors. We leverage brand, technology
and relationships, focusing our resources on
core and growing markets.
Lubricants
★ Defined on page 252. BP Annual Report and Form 20-F 2014 5
Strategic report