Misplaced Pages

#283716

153-607: BP p.l.c. (formerly The British Petroleum Company p.l.c. and BP Amoco p.l.c. ; stylised in all lowercase) is a British multinational oil and gas company headquartered in London , England. It is one of the oil and gas " supermajors " and one of the world's largest companies measured by revenues and profits. It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and extraction , refining , distribution and marketing , power generation , and trading . BP's origins date back to

306-466: A production contract to develop the supergiant Rumaila field with joint venture partner CNPC . In January 2010, Carl-Henric Svanberg became chairman of BP board of directors. On 20 April 2010, the Deepwater Horizon oil spill , a major industrial accident, happened. Consequently, Bob Dudley replaced Tony Hayward as the company's CEO, serving from October 2010 to February 2020. BP announced

459-524: A 10% stake for $ 571 million in the Russian oil company Sidanco , which later became a part of TNK-BP. Sidanco was run by Russian oligarch Vladimir Potanin who obtained Sidanco through the controversial loans-for-shares privatization scheme. In 2003, BP invested $ 8 billion into a joint venture with Russian oligarch Mikhail Fridman 's TNK. In 1992, the company entered the Azerbaijani market. In 1994, it signed

612-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

765-734: A cane sugar-producing area since the late Sassanian times, such as the sugar cane fields of the Dez River side in Dezful . Khuzhestan has been the land of Khouzhies who cultivate sugar cane even today in Haft Tepe . The name of the province in Syriac is Beth Huzaye. The province of Khuzestan is one of the centres of ancient civilization, and one of the most important regions of the Ancient Near East , based around Susa . The first large scale empire based here

918-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

1071-507: A deal worth around $ 20 billion to supply CNOOC with liquefied natural gas. In 2014, Statoil Fuel & Retail sold its aviation fuel business to BP. To ensure the approval of competition authorities, BP agreed to sell the former Statoil aviation fuel businesses in Copenhagen , Stockholm , Gothenburg and Malmö airports to World Fuel Services in 2015. In 2016, BP sold its Decatur, Alabama , plant to Indorama Ventures , of Thailand . At

1224-954: A divestment program to sell about $ 38 billion worth of non-core assets to compensate its liabilities related to the accident. In July 2010, BP sold its natural gas activities in Alberta and British Columbia , Canada, to Apache Corporation . It sold its stake in the Petroperijá and Boquerón fields in Venezuela and in the Lan Tay and Lan Do fields, the Nam Con Son pipeline and terminal, and the Phu My 3 power plant in Vietnam to TNK-BP, forecourts and supply businesses in Namibia, Botswana, Zambia, Tanzania and Malawi to Puma Energy ,

1377-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1530-723: A group of Tamim had been living since pre-Islamic times. However, following the fall of the Abbasid dynasty, the flow of Arab immigrants into Persia gradually diminished, but it nonetheless continued. In the latter part of the 16th century, the Bani Kaab (pronounced Chaub in the local Gulf dialect), from Kuwait , settled in Khuzestan. And during the succeeding centuries, more Arab tribes moved from southern Iraq to Khuzestan. According to C.E. Bosworth in Encyclopædia Iranica , under

1683-450: A market capitalisation of US$ 98.36 billion in 2022 and revenues of US$ 164.2 billion making it the fourth-largest investor-owned oil company in the world (after ExxonMobil , Shell , and TotalEnergies ). However, its profits slumped to a four-year low in 2024 following a 30% drop in profits. Subsequently, the company abandoned its targets to significantly reduce its oil and gas production by 2030. The company's primary stock listing in on

SECTION 10

#1733092588284

1836-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1989-680: A new oil transportation route from the Caspian region. In 2002, BP acquired the majority of Veba Öl AG, a subsidiary of VEBA AG , and subsequently rebranded its existing stations in Germany to the Aral name. As part of the deal, BP acquired also the Veba Öl's stake in Ruhr Öl joint venture. Ruhr Öl was dissolved in 2016. On 1 September 2003, BP and a group of Russian billionaires, known as AAR ( Alfa – Access – Renova ), announced

2142-530: A non-Persian Bakhtiari minority, while the southern section always had diverse minority groups known as Khuzis. Since the 1940s, a flood of job seekers from all over Iran to the oil and commerce centers on the Persian Gulf Coast has made the region more Persian-speaking. Presently, Khuzestan still maintains its diverse group, but does have Arabs, Persians, Bakhtiari and ethnic Qashqais and Lors. Khuzestan has great potential for agricultural expansion , which

2295-646: A paid consultant to lobby the British government to allow APOC have exclusive rights to Persian oil resources, which were subsequently granted by the Iranian monarchy. APOC and the Armenian businessman Calouste Gulbenkian were the driving forces behind the creation of Turkish Petroleum Company (TPC) in 1912, to explore oil in Mesopotamia (now Iraq); and by 1914, APOC held 50% of TPC shares. In 1925, TPC received concession in

2448-607: A pipeline operator in the United States, at the New York Stock Exchange. In Argentina, BP and Bridas Corporation agreed to merge their interests in Pan American Energy and Axion Energy to form a jointly owned Pan American Energy Group. In 2017, BP invested $ 200 million to acquire a 43% stake in the solar energy developer Lightsource Renewable Energy, a company which was renamed Lightsource BP . In March 2017,

2601-505: A politically sensitive region, particularly given its history of foreign intervention, notably the Iraqi invasion of 1980. Some ethnic groups complain over the distribution of the revenue generated by oil resources with claims that the central government is failing to invest profits from the oil industry in employment generation, post-war reconstruction and welfare projects. Low human development indicators among local Khuzestanis are contrasted with

2754-795: A third of the spoil. The Basrans purged the Nestorians—the Exegete of the city and the Bishop of Hormizd, and all their students—but kept Hormuzan alive. There followed the conquests of Gundeshapur and of many other districts along the Tigris. The Battle of Nahāvand finally secured Khuzestan for the Muslim armies. During the Muslim conquest the Sassanids were allied with non-Muslim Arab tribes, which implies that those wars were religious, rather than national. For instance in 633–634, Khaled ibn Walid leader of

2907-495: Is Lur . During a research that was commissioned by the General Culture Council in 2010 and based on a field survey and a statistical community among the residents of 288 cities and about 1400 villages across the country, the percentage of ethnic groups that were sampled in this survey in this province was as follows. Arabs was 33.6%, Persians 31.9%, Lurs 30%, Turkish speakers 2.5%, Kurds 1%, Other 0.7%. According to

3060-476: Is almost unrivaled by the country's other provinces. Large and permanent rivers flow over the entire territory contributing to the fertility of the land. Karun , Iran's most effluent river, 850 kilometers long, flows into the Persian Gulf through this province. The agricultural potential of most of these rivers, however, and particularly in their lower reaches, is hampered by the fact that their waters carry salt ,

3213-655: Is also characterized by an overreliance on dam construction and large-scale diversion projects, primarily benefiting politically connected enterprises and urban elites. This has led to the drying of rivers, wetlands, and other vital ecosystems, intensifying dust storms and land subsidence in regions like Khuzestan and Sistan-Baluchestan . Such environmental degradation, combined with insufficient governmental oversight and transparency, worsens living conditions for marginalized communities, reinforcing cycles of poverty and socio-political marginalization. Historically, Khuzestan, one of Iran's most water-rich provinces, has been hit hard by

SECTION 20

#1733092588284

3366-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

3519-1208: Is one of the hottest places on earth with maximum temperatures in summer exceeding 50 °C (122 °F) sometimes. Reliable measurements in the city range from −5 to 54.0 °C (23.0 to 129.2 °F). Khuzestan has desert conditions and experiences many sandstorms. Iran ranks among the most water stressed countries in the world. However, Khuzestan province suffers from major water problems that were aggravated by corruption in Iran's water supply sector, lack of transparency, neglect of marginalized communities, and political favoritism . The Islamic Revolutionary Guard Corps and other politically connected entities control water resources, prioritizing projects for political and economic gain rather than public need. They divert supplies to favored regions, causing shortages in vulnerable provinces like Khuzestan and Sistan-Baluchestan. For example, water diversion projects in Isfahan and Yazd provinces receive priority despite critical shortages in Khuzestan and Sistan-Baluchestan. Reports also indicate that certain agricultural and industrial enterprises with ties to

3672-520: Is spoken by no more than a few dozen elderly Mandaeans . Khuzestan is known for its ethnic diversity; the population of Khuzestan consists of Lurs , Arabs , Qashqai people of the Afshar tribe , Persians ( Dezfuli-Shushtari , Mahshahrys, Behbahani ), Mandean , Kurds and Iranian Armenians . Khuzestan's population is predominantly Shia Muslim , but there are small Christian , Jewish , Sunni and Mandean minorities. Half of Khuzestan's population

3825-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

3978-710: The 1979 uprising . Initially it emerged the terrorists wanted autonomy for Khuzestan; later they demanded the release of 91 of their comrades held in Iranian jails. The group which claimed responsibility for the siege the Arab Popular Movement in Arabistan (See Arab separatism in Khuzestan ) gave a number of press conferences in the following months, referring to what it described as "the racist rule of Khomeini". It threatened further international action as part of its campaign to gain self-rule for Khuzestan. But its links with Baghdad served to undermine its argument that it

4131-574: The Assembly of Experts , including Ayatollahs Mousavi Jazayeri , Ka'bi , Heidari , Farhani , Shafi'i , and Ahmadi . The province of Khuzestan can be basically divided into two regions; the rolling hills and mountainous regions north of the Ahvaz Ridge , and the plains and marsh lands to its south. The area is irrigated by the Karoun , Karkheh , Jarahi and Maroun rivers. The northern section maintains

4284-746: The British Tanker Company and in 1916, it acquired the British Petroleum Company which was a marketing arm of the German Europäische Petroleum Union in Britain. In 1919, the company became a shale-oil producer by establishing a subsidiary named Scottish Oils which merged remaining Scottish oil-shale industries . After World War I , APOC started marketing its products in Continental Europe and acquired stakes in

4437-457: The Byzantine Empire , and Rome, shows the importance and prosperity of this region during this era. The Jondi-Shapur Medical School was founded by the order of Shapur I . It was repaired and restored by Shapur II (a.k.a. Zol-Aktaf : "The Possessor of Shoulder Blades") and was completed and expanded during the reign of Anushirvan. The Muslim conquest of Khuzestan took place in 639 AD under

4590-705: The Iran–Iraq War of the 1980s, the Arabs of Khuzestan mostly resided in the rural regions along the Karkhe and Karun rivers in the southwest of the province and the number living in cities was very limited because the Arab tribes were still following a nomadic lifestyle. But after the end of the war, most of the refuged Arabs were relocated by the government to the urban centres and smaller towns. This conversion of lifestyle directly from nomadic to city life caused many problems and conflicts in

4743-494: The Jarahi and Karkheh in their lower reaches. Only the Marun is exempt from this. The climate of Khuzestan is generally very hot and occasionally humid, particularly in the south, while winters can be cold and dry. Summertime temperatures routinely exceed 45 °C (113 °F) almost daily and in the winter it can drop below freezing, with occasional snowfall in mountains. Khuzestan

BP - Misplaced Pages Continue

4896-656: The London Stock Exchange , where it is a member of the FTSE 100 Index . In May 1908, a group of British geologists discovered a large amount of oil at Masjed Soleyman located in the Khuzestan Province in the southwest of Persia ( Iran ). It was the first commercially significant find of oil in the Middle East . William Knox D'Arcy , by contract with Ali-Qoli Khan Bakhtiari , obtained permission to explore for oil for

5049-855: The Mesopotamian oil resources from the Iraqi government under British mandate. TPC finally struck oil in Iraq on 14 October 1927. By 1928, the APOC's shareholding in TPC, which by now was named Iraq Petroleum Company (IPC), was reduced to 23.75%; as the result of the changing geopolitics post Ottoman empire break-up, and the Red Line Agreement . Relations were generally cordial between the pro-west Hashemite Monarchy (1932–58) in Iraq and IPC, in spite of disputes centred on Iraq's wish for greater involvement and more royalties. During

5202-732: The Persians and the Macedonians . After Alexander, the Seleucid dynasty came to rule the area. As the Seleucid dynasty weakened, Mehrdad I the Parthian (171–137 BC), gained ascendency over the region. During the Sassanid dynasty this area thrived tremendously and flourished, and this dynasty was responsible for the many constructions that were erected in Ahvaz, Shushtar , and the north of Andimeshk . During

5355-651: The Qajar dynasty "the province was known, as in Safavid times, as Arabistan, and during the Qajar period was administratively a governor-generalate." Half of Khuzestan was not known as Arabistan. Khuzestan's northern, more populous parts, with the capital at Shushtar , retained the old name, but also occasionally was incorporated into the district of the Greater Lur due to the large Bakhtiari population in half of Khuzestan. In 1856, in

5508-677: The Saudi-Aramco "50/50" agreement of 1950 , the consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors." In 1953, British Petroleum entered the Canadian market through the purchase of a minority stake in Calgary-based Triad Oil Company, and expanded further to Alaska in 1959, resulting discovery of oil at Prudhoe Bay in 1969. In 1956, its subsidiary D'Arcy Exploration Co. (Africa) Ltd.

5661-620: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

5814-520: The Tate Modern gallery of British Art launch RePresenting Britain 1500–2000 . In 2001, in response to negative press on British Petroleum's poor safety standards, the company adopted a green sunburst logo and rebranded itself as BP ("Beyond Petroleum") plc. In the beginning of the 2000s, BP became the leading partner (and later operator) of the Baku–Tbilisi–Ceyhan pipeline project which opened

5967-757: The Texas City refinery explosion . To save money, major upgrades to the 1934 refinery had been postponed. Browne pledged to prevent another catastrophe. Three months later, ' Thunder Horse PDQ ', BP's giant new production platform in the Gulf of Mexico, nearly sank during a hurricane. In their rush to finish the $ 1 billion platform, workers had installed a valve backwards, allowing the ballast tanks to flood. Inspections revealed other shoddy work. Repairs costing hundreds of millions would keep Thunder Horse out of commission for three years. Lord Browne resigned from BP on 1 May 2007. The head of exploration and production Tony Hayward became

6120-793: The Umayyad period, large groups of nomads from the Hanifa , Banu Tamim , and Abd al-Qays tribes crossed the Persian Gulf and occupied some of the richest Basran territories around Ahvaz and in Fars during the Second Fitna in 661–665 / 680–684 AD. During the Abbasid period, in the second half of the 10th century, the Assad tribe, taking advantage of quarrels under the Buwayhids , penetrated into Khuzestan, where

6273-441: The Wytch Farm onshore oilfield in Dorset and a package of North Sea gas assets to Perenco , natural-gas liquids business in Canada to Plains All American Pipeline LP , natural gas assets in Kansas to Linn Energy , Carson Refinery in Southern California and its ARCO retail network to Tesoro , Sunray and Hemphill gas processing plants in Texas , together with their associated gas gathering system, to Eagle Rock Energy Partners,

BP - Misplaced Pages Continue

6426-494: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

6579-410: The "Susian" people ( Old Persian "Huza", Middle Persian "Khuzi" or "Husa" (the Shushan of the Hebrew sources). The name of the city of Ahvaz also has the same origin as the name Khuzestan, being an Arabic broken plural from the compound name, "Suq al-Ahvaz" (Market of the Huzis)--the medieval name of the town, that replaced the Sasanian Persian name of the pre-Islamic times. The entire province

6732-411: The 1928–68 time period, IPC monopolised oil exploration inside the Red Line ; excluding Saudi Arabia and Bahrain. In 1927, Burmah Oil and Royal Dutch Shell formed the joint marketing company Burmah-Shell . In 1928, APOC and Shell formed the Consolidated Petroleum Company for sale and marketing in Cyprus, South Africa and Ceylon, which in 1932 followed by a joint marketing company Shell-Mex and BP in

6885-476: The 1960s, British Petroleum had developed a reputation for taking on the riskiest ventures. It earned the company massive profits; it also earned them the worst safety record in the industry. In 1967, the giant oil tanker Torrey Canyon foundered off the English coast. Over 32 million US gallons (760,000 bbl; 120,000 m) of crude oil was spilled into the Atlantic and onto the beaches of Cornwall and Brittany, causing Britain's worst-ever oil spill . The ship

7038-507: The 1996 census, the province had an estimated population of 3.7 million people, of which approximately 62.5% were in the urban centres, 36.5% were rural dwellers and the remaining 1% were non-residents. According to the most recent census taken in 2016, the province had 4,710,509 inhabitants. At the time of the 2006 National Census, the province's population was 4,192,598 in 862,491 households. The following census in 2011 counted 4,531,720 people in 1,112,664 households. The 2016 census measured

7191-722: The 2006 Prudhoe Bay oil spill , the largest oil spill on Alaska's North Slope , which resulted in a US$ 25 million civil penalty, the largest per-barrel penalty at that time for an oil spill. BP's worst environmental catastrophe was the 2010 Deepwater Horizon oil spill , the largest accidental release of oil into marine waters in history, which leaked about 4.9 million barrels (210 million US gal; 780,000 m) of oil, causing severe environmental, human health, and economic consequences and serious legal and public relations repercussions for BP, costing more than $ 4.5 billion in fines and penalties, and an additional $ 18.7 billion in Clean Water Act-related penalties and other claims,

7344-425: The British government acquired a controlling interest (50.0025%) in the company, at the urging of Winston Churchill , the then First Lord of the Admiralty , and the British navy quickly switched from coal to oil for the majority of their war ships. APOC also signed a 30-year contract with the British Admiralty for supplying oil for the Royal Navy at the fixed price. In 1915, APOC established its shipping subsidiary

7497-456: The Elamite lands after nearly 80 years of Median rule. The city of Susa was then proclaimed as one of the Achaemenid capitals. Darius the Great then erected a grand palace known as Apadana there in 521 BC. But this astonishing period of glory and splendor of the Achaemenian dynasty came to an end by the conquests of Alexander of Macedon . The Susa weddings was arranged by Alexander in 324 BC in Susa , where mass weddings took place between

7650-496: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

7803-428: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

SECTION 50

#1733092588284

7956-431: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

8109-550: The Iranian Revolutionary Guard Corps have received significant amounts of water, while small farmers and rural communities struggle with severe shortages. Iran's central government prioritizes water allocation for industrial and urban centers, often at the expense of rural and minority populations. These groups face severe water shortages, ecological degradation, and a loss of livelihoods. This pattern of unequal development not only exacerbates regional disparities but also fuels social unrest and environmental crises. Iran's water policy

8262-423: The Iranian government nationalised the Iranian oil industry by unanimous vote, and the National Iranian Oil Company (NIOC) was formed, displacing the AIOC. The AIOC withdrew its management from Iran, and Britain organised an effective worldwide embargo of Iranian oil. The British government, which owned the AIOC, contested the nationalisation at the International Court of Justice at The Hague , but its complaint

8415-421: The KIO purchased additional shares, bringing their ownership to 21.6%. This raised concerns within BP that operations in the United States, BP's primary country of operations, would suffer. In October 1988, the British Department of Trade and Industry required the KIO to reduce its shares to 9.6% within 12 months. Peter Walters was the company chairman from 1981 to 1990. During his period as chairman he reduced

8568-404: The Muslim Army, defeated a force of the Sassanids' Arab auxiliaries from the tribes of Bakr, 'Ejl, Taghleb and Namer at 'Ayn Al-Tamr. The Muslim settlements by military garrisons in southern Iran was soon followed by other types of expansion. Some families, for example, took the opportunity to gain control of private estates. Like the rest of Iran, the Muslim conquest thus brought Khuzestan under

8721-451: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

8874-434: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

9027-414: The Sasanian time and throughout the Islamic era, the provincial seat returned and stayed at Shushtar, until the late Qajar period. With the increase in the international sea commerce, arriving on the shores of Khuzistan, Ahvaz became a more suitable location for the provincial capital. The River Karun is navigable all the way to Ahvaz (above which, it flows through rapids). The town was thus refurbished by

9180-418: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

9333-472: The Sultan of Muscat, backed by the British government and the financial aid he received from IPC, started occupying regions within the interior of Oman, which led to the outbreak of Jebel Akhdar War that lasted for more than 5 years. In 1947, British Petroleum Chemicals was incorporated as a joint venture of AIOC and The Distillers Company . In 1956, the company was renamed British Hydrocarbon Chemicals. Following World War II, nationalistic sentiments were on

SECTION 60

#1733092588284

9486-420: The Sultanate, which was in fact limited to the coastal area of present-day Oman. After several years of failure to discover oil in the Sultanate's region, IPC presumed that oil was more likely to be found in the interior region of Oman, which was part of the Imamate of Oman. IPC offered financial support to raise an armed force that would assist the Sultanate in occupying the interior region of Oman. Later, in 1954,

9639-418: The Texas City Refinery and associated assets to Marathon Petroleum , the Gulf of Mexico located Marlin, Dorado, King, Horn Mountain, and Holstein fields as also its stake in non-operated Diana Hoover and Ram Powell fields to Plains Exploration & Production , non-operating stake in the Draugen oil field to Norske Shell , and the UK's liquefied petroleum gas distribution business to DCC. In November 2012,

9792-404: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

9945-620: The U.S. Government temporarily banned BP from bidding any new federal contracts. The ban was conditionally lifted in March 2014. In February 2011, BP formed a partnership with Reliance Industries , taking a 30% stake in a new Indian joint-venture for an initial payment of $ 7.2 billion. In September 2012, BP sold its subsidiary BP Chemicals (Malaysia) Sdn. Bhd., an operator of the Kuantan purified terephthalic acid (PTA) plant in Malaysia, to Reliance Industries for $ 230 million. In October 2012, BP sold its stake in TNK-BP to Rosneft for $ 12.3 billion in cash and 18.5% of Rosneft's stock. The deal

10098-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

10251-485: The United Kingdom. In 1937, AIOC and Shell formed the Shell/D'Arcy Exploration Partners partnership to explore for oil in Nigeria . The partnership was equally owned but operated by Shell. It was later replaced by Shell-D'Arcy Petroleum Development Company and Shell-BP Petroleum Development Company (now Shell Petroleum Development Company ). In 1934, APOC and Gulf Oil founded the Kuwait Oil Company as an equally owned partnership. The oil concession rights were awarded to

10404-450: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

10557-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

10710-558: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

10863-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

11016-471: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

11169-567: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

11322-469: The United States were converted to BP's brand and corporate identity. In 2000, BP Amoco acquired Atlantic Richfield Co. (ARCO) and Burmah Castrol . Together with the acquisition of ARCO in 2000, BP became owner of a 33.5% stake in the Olympic Pipeline. Later that year, BP became an operator of the pipeline and increased its stake up to 62.5%. As part of the merger's brand awareness, the company helped

11475-610: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

11628-451: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

11781-477: The acquisition of Britoil and the remaining publicly traded shares of Standard Oil of Ohio. At the same year it was listed on the Tokyo Stock Exchange where its share were traded until delisting in 2008. Walters was replaced as chair by Robert Horton in 1990. Horton wrote on his appointment that he and his senior colleagues would adopt values representing the interests of "all stakeholders ", including

11934-510: The amount of which increases as the rivers flow away from the source mountains and hills. In case of the Karun, a single tributary river, Rud-i Shur ("Salty River") that flows into the Karun above Shushtar contributes most of the salt that the river carries. As such, the freshness of the Karun waters could be greatly enhanced if the Rud-i Shur could be diverted away from the Karun. The same applies to

12087-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

12240-528: The central Iranian government and the Arab nationalists of the province continued since. The name of 'Khuzistan' came to be applied to the entire territory by 1936. Over the next decades of the Pahlavi rule, the province of Khuzestan remained relatively quiet, gaining to hold an important economic and defensive strategic position. With the Iranian Revolution taking place in early 1979, local rebellions swept

12393-681: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

12546-512: The command of Abu Musa al-Ash'ari from Basra , who drove the Persian satrap Hormuzan out of Ahvaz . Susa later fell, so Hormuzan fled to Shushtar . There his forces were besieged by Abu Musa for 18 months. Shushtar finally fell in 642 AD; the Khuzistan Chronicle records that an unknown Arab, living in the city, befriended a man in the army, and dug tunnels through the wall in return for

12699-706: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

12852-470: The company acquired Clean Energy's biomethane business and assets, including its production sites and existing supply contracts. In April 2017, its subsidiary Butamax bought an isobutanol production company Nesika Energy. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

13005-762: The company acquired a controlling interest in Standard Oil of Ohio (Sohio). In Iran, British Petroleum continued to operate until the Islamic Revolution in 1979. The new regime of Ayatollah Khomeini nationalised all of the company's assets in Iran without compensation: as a result, BP lost 40% of its global crude oil supplies. In 1970–1980s, BP diversified into coal , minerals and nutrition businesses which all were divested later. The British government sold 80 million shares of BP at $ 7.58 in 1979, as part of Thatcher-era privatisation. This sale represented slightly more than 5% of BP's total shares and reduced

13158-450: The company became Lord Strathcona . Immediately after establishing the company, the British government asked Percy Cox , British resident to Bushehr , to negotiate an agreement with Sheikh Khaz'al Ibn Jabir of Arabistan for APOC to obtain a site on Abadan Island for a refinery , depot, storage tanks , and other operations. The refinery was built and began operating in 1912. In 1914,

13311-532: The company on 23 December 1934 and the company started drilling operations in 1936. In 1935, Reza Shah requested the international community to refer to Persia as ' Iran ', which was reflected in the name change of APOC to the Anglo-Iranian Oil Company (AIOC). In 1937, Iraq Petroleum Company , 23.75% owned by BP, signed an oil concession agreement with the Sultan of Muscat that covers the entire region of

13464-490: The company's employees, customers, shareholders, suppliers and the community". Horton carried out a major corporate downsizing exercise, removing various tiers of management at the head office. In 1992, British Petroleum sold off its 57% stake in BP Canada ( upstream operations), which was renamed as Talisman Energy . John Browne , who had joined BP in 1966 and rose through the ranks to join the board as managing director in 1991,

13617-569: The company's refining capacity in Europe. In 1982, the downstream assets of BP Canada were sold to Petro Canada . In 1984, Standard Oil of California was renamed the Chevron Corporation ; it bought Gulf Oil—the largest merger in history at that time. To meet anti-trust regulations, Chevron divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States to British Petroleum and Cumberland Farms in 1985. In 1987, British Petroleum negotiated

13770-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

13923-455: The country, with Khuzestan being no exception. In April 1979, an uprising broke out in the province, led by the Arab separatist group Arab Political and Cultural Organisation (APCO), seeking to gain independence from the new theocratic rule. The Iranian Embassy siege of 1980 in London was initiated by an Arab separatist group as an aftermath response to the regional crackdown in Khuzestan, after

14076-568: The course of the Anglo-Persian War over the city of Herat , the British naval forces sailed up the Karun river all the way to Ahvaz . However, in the settlement that followed, they evacuated the province. Some tribal forces, such as those led by Sheikh Jabir al-Kaabi , the Sheikh of Mohammerah , fared better in opposing the invading British forces than those dispatched by the central government, which

14229-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

14382-500: The creation of a strategic partnership to jointly hold their oil assets in Russia and Ukraine. As a result, TNK-ВР was created. In 2004, BP's olefins and derivatives business was moved into a separate entity which was sold to Ineos in 2005. In 2007, BP sold its corporate-owned convenience stores, typically known as " BP Connect ", to local franchisees and jobbers . On 23 March 2005, 15 workers were killed and more than 170 injured in

14535-578: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Khuzestan Province Khuzestan Province ( Persian : استان خوزستان ) is one of the 31 provinces of Iran . Located in the southwest of the country, the province borders Iraq and the Persian Gulf , covering an area of 63,238 square kilometres (24,416 sq mi). Its capital is the city of Ahvaz . Since 2014, it has been part of Iran's Region 4 . Once one of

14688-760: The early years of the reign of Shapur II (AD 309 or 310–379), Arabs crossed the Persian Gulf from Bahrain to "Ardashir-Khora" of Fars and raided the interior. In retaliation, Shapur II led an expedition through Bahrain, defeated the combined forces of the Arab tribes of "Taghleb", "Bakr bin Wael", and "Abd Al-Qays" and advanced temporarily into Yamama in central Najd . The Sassanids resettled these tribes in Kerman and Ahvaz . Arabs named Shapur II, as "Shabur Dhul-aktāf" after this battle. The existence of prominent scientific and cultural centers such as Academy of Gundishapur which gathered distinguished medical scientists from Egypt ,

14841-422: The factors that sparked high dissatisfaction among residents. The frustrations typically manifested in protests and rallies. In 2005, Ahvaz witnessed a number of terrorist attacks , which came following the violent Ahvaz riots . The first bombing came ahead of the presidential election on 12 June 2005. In 2011, another wave of protests by Arab tribes occurred mostly in the urban area of Ahvaz. Before

14994-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

15147-500: The first time in the Middle East, an event which changed the history of the entire region. The oil discovery led to petrochemical industry development and also the establishment of industries that strongly depended on oil. On 14 April 1909, the Anglo-Persian Oil Company (APOC) was incorporated as a subsidiary of Burmah Oil Company . Some of the shares were sold to the public. The first chairman and minority shareholder of

15300-619: The founding of the Anglo-Persian Oil Company in 1909, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran . In 1935, it became the Anglo-Iranian Oil Company and in 1954, adopted the name British Petroleum . BP acquired majority control of Standard Oil of Ohio in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. BP merged with Amoco in 1998, becoming BP Amoco p.l.c. , and acquired ARCO , Burmah Castrol and Aral AG shortly thereafter. The company's name

15453-529: The government's ownership of the company to 46%. On 19 October 1987, Prime Minister Margaret Thatcher authorised the sale of an additional GBP7.5 billion ($ 12.2 billion) of BP shares at 333 pence, representing the government's remaining 31% stake in the company. In November 1987, the Kuwait Investment Office purchased a 10.06% interest in BP, becoming the largest institutional shareholder. The following May,

15606-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

15759-617: The inscription on the tomb of Darius the Great at Naqsh-e Rostam ). They are the Shushan of the Hebrew sources where they are recorded as "Hauja" or "Huja". In Middle Persian , the term evolved into "Khuz" and "Kuzi". The pre-Islamic Partho-Sasanian inscriptions give the name of the province as Khwuzestan. The name Khuzestan means "The Land of the Khuzi", and refers to the original inhabitants of this province,

15912-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

16065-673: The largest criminal resolution in US history. Altogether, the oil spill cost the company more than $ 65 billion. The company's subequent attempts at greenwashing its public image led it to embark on a string of overly ambitious clean energy initiatives which ultimately diminished its value. As of auntumn 2024 its returns are the lowest of the seven major oil companies. Previously it has boasted an oil production rate of around 3.7 million barrels per day (590,000 m/d) along with total proven reserves of 19.945 billion barrels (3.1710 × 10 m), approximately 18,700  service stations ,

16218-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

16371-427: The last day of the war, this province was always the scene of Iran's various operations to recapture the areas occupied by the Iraqi army forces. At the beginning of the war, cities such as Abadan , Susangerd , Bostan , Dezful , Andimeshk , Khorramshahr , and Ahvaz , which were the capital of the province, were regularly targeted by Iraqi army rocket and artillery attacks. The long-term occupation of some areas of

16524-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

16677-960: The local marketing companies in several European countries. Refineries were built in Llandarcy in Wales (the first refinery in the United Kingdom) and Grangemouth in Scotland. It also acquired the controlling stake in the Courchelettes refinery in France and formed, in conjunction with the Government of Australia , a partnership named Commonwealth Oil Refineries , which built the Australian's first refinery in Laverton, Victoria . In 1923, Burmah employed Winston Churchill as

16830-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

16983-475: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

17136-578: The mismanagement of water resources. The drying of rivers, including the Karkheh and Karun , has made agriculture unsustainable in many parts of the province. In recent years, Khuzestan has witnessed a significant exodus of its rural population as people move to cities for work and better living conditions. The situation has been exacerbated by periodic dust storms, which further degrade the environment and make life untenable in affected regions. This environmental migration from Khuzestan has led to social tensions in

17289-494: The most important Iranian port prior to the war) was a turning point in the war, and is officially celebrated every year in Iran. The city of Khorramshahr was almost completely destroyed as a result of the scorched earth policy ordered by Iraq's leader, Saddam Hussein. However, Iranian forces were able to prevent the Iraqis from attempting to spread the execution of this policy to other major urban centres. From 22 September 1980 to

17442-646: The most important regions of the Ancient Near East , Khuzestan comprises much of what historians refer to as ancient Elam , whose capital was in Susa . The Achaemenid Old Persian term for Elam was Hujiyā when they conquered it from the Elamites. This element is present in the modern name. Khuzestan, meaning "the Land of the Khuz", refers to the original inhabitants of this province, the "Susian" people (Old Persian "Huza" or Huja , as in

17595-614: The new chief executive. In 2009, Hayward shifted emphasis from Lord Browne's focus on alternative energy, announcing that safety would henceforth be the company's "number one priority". In 2007, BP formed with AB Sugar and DuPont a joint venture Vivergo Fuels which opened a bioethanol plant in Saltend near Hull , United Kingdom in December 2012. Together with DuPont, BP formed a biobutanol joint venture Butamax by acquiring biobutan technology company Biobutanol LLC in 2009. In 2009, BP obtained

17748-521: The northern reaches of the land, first at Susa ( Shush ) and then at Shushtar . During a short spell in the Sasanian era, the capital of the province was moved to its geographical center, where the river town of Hormuz-Ardasher, founded over the foundation of the ancient Hoorpahir by Ardashir I , the founder of the Sasanian Dynasty in the 3rd century CE. This town is now known as Ahvaz. However, later in

17901-565: The oil price shocks that followed the 1973 oil crisis meant British Petroleum lost most of its direct access to crude oil supplies produced in countries that belonged to the Organization of Petroleum Exporting Countries ( OPEC ), and prompted it to diversify its operations beyond the heavily Middle East dependent oil production. In 1976, BP and Shell de-merged their marketing operations in the United Kingdom by dividing Shell-Mex and BP. In 1978,

18054-515: The order of the Qajar king, Naser al-Din Shah and renamed after him, Nâseri. Shushtar quickly declined, while Ahvaz/ Nâseri prospered to the present day. Since the early 1920s, tensions on religious and ethnic grounds have often resulted in separatist violence , including an insurgency in 1979 , an embassy siege , unrest in 2005 , bombings in 2005–06 and protests in 2011 . The Iranian regime has drawn harsh criticism from international human rights organizations for its repressive measures against

18207-585: The political power of Shah Mohammad Reza Pahlavi . The AIOC was able to return to Iran. In 1954, the AIOC became the British Petroleum Company. After the 1953 Iranian coup d'état , Iranian Oil Participants Ltd (IOP), a holding company , was founded in October 1954, in London to bring Iranian oil back to the international market. British Petroleum was a founding member of this company with 40% stake. IOP operated and managed oil facilities in Iran on behalf of NIOC. Similar to

18360-445: The population of the province as 4,710,509 in 1,280,645 households. [REDACTED] The population history and structural changes of Khuzestan Province's administrative divisions over three consecutive censuses are shown in the following table. According to the 2016 census, 3,554,205 people (over 75% of the population of Khuzestan Province) live in the following cities: The seat of the province has for most of its history been in

18513-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

18666-518: The production sharing agreement for the Azeri–Chirag–Guneshli oil project and in 1995 for the Shah Deniz gas field development. Under John Browne, British Petroleum acquired other oil companies, transforming BP into the third largest oil company in the world. British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. Most Amoco stations in

18819-495: The province's residents. As a result, Khuzestan suffered the heaviest damage of all Iranian provinces during the war. Iraq's President Saddam Hussein felt confident that the Arab population of the Khuzestan would react enthusiastically to the prospect of union with Iraq. However, resistance to the invasion was fierce, stalling the Iraqi military's advance, and ultimately opening a window of opportunity for an Iranian counter-offensive. What used to be Iran's largest refinery at Abadan

18972-438: The province, further contributed to the damage to natural and human capital in the province. Since the war, the speed of growth and development of the province has been very slow. Khuzestan, despite benefiting from abundant natural resources including oil, has many economic, environmental, social, and construction problems, among others. High unemployment rate, water crisis, high dust, and lack of civil infrastructure are among

19125-661: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

19278-403: The region, as local communities face declining living standards and heightened unemployment. Khuzestan is ethnically diverse, home to many different ethnic groups. This has a bearing on Khuzestan's electoral politics, with ethnic minority rights playing a significant role in the province's political culture. The province's geographical location bordering Iraq and its oil resources also make it

19431-410: The reign of king Abbas I (r. 1588–1629), regularly refers to the southern part of Khuzestan as "Arabistan". The northern half continued to be called Khuzestan. In 1925, the entire province regained the old name and the term Arabistan was dropped. There is also a very old folk etymology which maintains the word "khouz" stands for sugar and "Khouzi" for people who make raw sugar. The province has been

19584-478: The religious and ethnic minorities in the region. However, the internal conflict was brought to a temporary halt in 1980 when Khuzestan was invaded by Ba'athist Iraq , leading to the Iran–Iraq War where Khuzestanis of all backgrounds fought alongside the Iranian military in resisting the Iraqi offensive. Currently, Khuzestan has 18 representatives in Iran's parliament, the Majlis . Meanwhile, it has six representatives in

19737-437: The rise in the Middle East; most notable being Iranian nationalism , and Arab Nationalism . In Iran, the AIOC and the pro-western Iranian government led by Prime Minister Ali Razmara resisted nationalist calls to revise AIOC's concession terms in Iran's favour. In March 1951, Razmara was assassinated and Mohammed Mossadeq , a nationalist, was elected as the new prime minister by the Majlis of Iran (parliament). In April 1951,

19890-458: The rule of the Arabs of the Umayyad and Abbasid Caliphates, until Ya'qub bin Laith as-Saffar , from southeastern Iran, raised the flag of independence once more, and ultimately regained control over Khuzestan, among other parts of Iran, founding the short-lived Saffarid dynasty. From that point on, Iranian dynasties would continue to rule the region in succession as an important part of Iran. In

20043-586: The same year, its Norwegian daughter company BP Norge merged with Det Norske Oljeselskap to form Aker BP . In April 2017, the company reached an agreement to sell its Forties pipeline system in the North Sea to Ineos for $ 250 million. The sale included terminals at Dalmeny and Kinneil, a site in Aberdeen, and the Forties Unity Platform. In 2017, the company floated its subsidiary BP Midstream Partners LP,

20196-407: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

20349-613: The structure of their societies and ultimately has led to some unrest. An unfinished building collapsed in Khuzestan province in June 2022. It was reported that thirteen people were arrested over the collapse. The incident also caused demonstrations in the region. Apart from Persian , other languages and dialects are also spoken in Khuzestan. For instance, a portion of Khuzestan's populace speaks Arabic ( Khuzestani Arabic ). Another part of Khuzestanis speak in Bakhtiari dialect . Neo-Mandaic

20502-404: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

20655-471: The words of Elton L. Daniel , the Elamites were "the founders of the first 'Iranian' empire in the geographic sense." Hence the central geopolitical significance of Khuzestan, the seat of Iran's first empire. In 640 BC, the Elamites were defeated by Ashurbanipal , coming under the rule of the Assyrians who brought destruction upon Susa and Chogha Zanbil. But in 538 BC, Cyrus the Great was able to re-conquer

20808-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

20961-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

21114-415: Was a purely Iranian opposition group; there were allegations that it was backed by Iran's regional rival, Iraq . Their leader ("Salim" - Awn Ali Mohammed) along with four other members of the group were killed and the fifth member, Fowzi Badavi Nejad, was sentenced to life imprisonment. During the Iran–Iraq War , Khuzestan was the focus of the Iraqi invasion of Iran, leading to the flight of thousands of

21267-546: Was appointed group chief executive in 1995. In 1981, British Petroleum entered into the solar technology sector by acquiring 50% of Lucas Energy Systems, a company which became Lucas BP Solar Systems, and later BP Solar . The company was a manufacturer and installer of photovoltaic solar cells . It became wholly owned by British Petroleum in the mid-1980s. British Petroleum entered the Russian market in 1990 and opened its first service station in Moscow in 1996. In 1997, it acquired

21420-970: Was completed on 21 March 2013. In 2012, BP acquired an acreage in the Utica Shale but these developments plans were cancelled in 2014. In 2011–2015, BP cut down its alternative energy business. The company announced its departure from the solar energy market in December 2011 by closing its solar power business, BP Solar. In 2012, BP shut down the BP Biofuels Highlands project which was developed since 2008 to make cellulosic ethanol from emerging energy crops like switchgrass and from biomass . In 2015, BP decided to exit from other lignocellulosic ethanol businesses. It sold its stake in Vivergo to Associated British Foods . BP and DuPont also mothballed their joint biobutanol pilot plant in Saltend. In June 2014, BP agreed to

21573-512: Was destroyed, never to fully recover. Many of the famous nakhlestans (palm groves) were annihilated, cities were destroyed, historical sites were demolished, and nearly half the province captured by the invading Iraqi army. This created a mass exodus into other provinces that did not have the logistical capability of taking in such a large number of refugees. However, by 1982, Iranian forces managed to push Iraqi forces out of Iran . The Battle of Khorramshahr (one of Khuzestan's largest cities and

21726-465: Was dismissed. Prime Minister Churchill asked President Eisenhower for help in overthrowing Mossadeq. The anti-Mossadeq plan was orchestrated under the code-name ' Operation Ajax ' by CIA, and 'Operation Boot' by SIS (MI6). The CIA and the British helped stage a coup in August 1953, the 1953 Iranian coup d'état , which established pro-Western general Fazlollah Zahedi as the new PM, and greatly strengthened

21879-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

22032-432: Was governed by Bakhtiari khans. Following Sheikh Khazal's rebellion , the western part of Khuzestan's emirate was dissolved by Reza Shah government in 1925, along with other autonomous regions of Persia , in a bid to centralize the state. In response Sheikh Khaz'al of Muhammerah initiated a rebellion , which was quickly crushed by the newly installed Pahlavi dynasty with minimal casualties. A low level conflict between

22185-595: Was granted four oil concessions in Libya . In 1962, Scottish Oils ceased oil-shale operations. In 1965, it was the first company to strike oil in the North Sea . In 1969, BP entered the United States by acquiring the East Coast refining and marketing assets of Sinclair Oil Corporation . The Canadian holding company of British Petroleum was renamed BP Canada in 1969; and in 1971, it acquired 97.8% stake of Supertest Petroleum . By

22338-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

22491-488: Was nationalised by the Ba'athist Iraqi government in June 1972, although legally Iraq Petroleum Company still remains in existence but as a dormant company, and one of its associated companies — Abu Dhabi Petroleum Company (ADPC), formerly Petroleum Development (Trucial Coast) Ltd – also continues with the original shareholding intact. The intensified power struggle between oil companies and host governments in Middle East, along with

22644-489: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

22797-829: Was owned by the Bahamas -based Barracuda Tanker Corporation and was flying the flag of Liberia , a well-known flag of convenience , but was being chartered by British Petroleum. The ship was bombed by RAF jet bombers in an effort to break up the ship and burn off the leaking oil, but this failed to destroy the oil slick. In 1967, BP acquired chemical and plastics assets of The Distillers Company which were merged with British Hydrocarbon Chemicals to form BP Chemicals. The company's oil assets were nationalised in Libya in 1971, in Kuwait in 1975, and in Nigeria in 1979. In Iraq, IPC ceased its operations after it

22950-452: Was quite feeble. But, the point of the invasion of the province and other coastal regions of southern Persia / Iran were to force the evacuation of Herat by the Persians and not the permanent occupation of these regions. In the two decades before 1925, although nominally part of Persian territory, the western part of Khuzestan functioned for many years effectively as an autonomous emirate known as "Arabistan". The eastern part of Khuzestan

23103-439: Was shortened to BP p.l.c. in 2001. From 1988 to 2015, BP was responsible for 1.53% of global industrial greenhouse gas emissions and has been directly involved in several major environmental and safety incidents. Among them were the 2005 Texas City refinery explosion , which caused the death of 15 workers and which resulted in a record-setting OSHA fine; Britain's largest oil spill, the wreck of Torrey Canyon in 1967; and

23256-581: Was still known as "the Khudhi" or "the Khooji" until the reign of the Safavid king Tahmasp I (r. 1524–1576) and in general the course of the 16th century. The southern half of the province—south, southwest of the Ahvaz Ridge , had come by the 17th century to be known—at least to the imperial Safavid chancery as Arabistan. The contemporaneous history, the Alam Ara-i Abbasi by Iskandar Beg Munshi , written during

23409-411: Was that of the powerful 4th millennium BC Elamites . Archeological ruins verify the entire province of Khuzestan to be home to the Elamite civilization, a non-Semitic, and non-Indo-European-speaking kingdom, and "the earliest civilization of Persia" . The name Khuzestan is derived from the Elamite ( ʰŪvja ), likely pronounced /xuʒa/, later Middle Persian Hūzīg , Arabic al-Xūzīya . In fact, in

#283716