BP's operating revenue 2005-2023

BP generated an operating revenue of 210.13 billion U.S. dollars in 2023. This was a decrease of some 30 billion U.S. dollars from the previous year. BP is a globally operating oil and gas company and counted among the oil supermajors or Big Oil companies - the largest public companies within the industry. It is headquartered in London, United Kingdom. Operating as a vertically integrated company, BP is active in all areas of the oil and gas supply chain, from exploration to refining, marketing, and power generation.

BP’s revenue by segment

In 2023, BP’s Upstream segment brought in around 75.2 billion U.S. dollars in revenue, while revenues of BP's Downstream segment reached nearly 160.2 billion U.S. dollars. Revenues decreased across all segments in 2023 as oil and gas prices fell compared with 2022 averages, impacting sales revenues.

British Petroleum in history

Founded by William Knox D’Archy in 1910 as the Anglo-Persian Oil Company, BP has come to be one of the largest companies in the world. When oil was first discovered in Iran in 1908, both British and Persian stakeholders got involved. The Anglo-Persian Oil Company was rebranded into British Petroleum Company in the 1950s. Perhaps most notably, BP is known for their 2009 Deepwater Horizon oil spill in the Gulf of Mexico, the largest accidental oil spill in petroleum-extraction history.