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Essay / Research Paper Abstract
This 7 page report discusses British Petroleum Company, PLC, in terms of the Treasury risks to which it is and has been exposed. As a result of restructuring in 1994, BP became a company of smaller, more autonomous units in place of the previous centralized regional teams. The 'view from the top' has always been that these units could be more creative and efficient through the sharing of knowledge and best practices. Such factors are equally important throughout the evaluation of potential Treasury risk. Bibliography lists 18 sources.
Page Count:
7 pages (~225 words per page)
File: D0_BWbp.rtf
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Unformatted sample text from the term paper:
exploring and implementing a wide range of corporate strategies designed to assure that the company and all its vast interests are in keeping with the general dynamics of the market
and current performance of the economy. For a company of the size and international reach of British Petroleum, that has proven to be a significant and often disheartening challenge.
Its purchase of United States-based Amoco at the end of 1998 is only one, albeit the most spectacular, of its major business strategies designed to see the corporation well into
the 21st century. However, such moves have made it necessary for the companys management teams to focus carefully on the potential
risks presented in terms of both finances, in general, and specific risks associated with the Treasury. They have already learned that the treasury departments of the countries in which BP
operates have specific concerns, as does the U.S. Treasury in terms of the newly-formed relationship with Amoco. Added to that, BP must also look to its own internal concerns
as related to the companys internal "treasury" or finance and accounting department. Executive Summary British Petroleum, Europes second largest oil company prior
to the completion of its merger with Amoco, posted better-than-expected third-quarter results based on strong European downstream profits and cost-cutting efficiencies. According to Merolli (1998), BP said profits totaled $736
million, off 36% from the same period last year. Profits exclude one-time items and are on a replacement- cost basis, which takes into account the loss of value of oil
products in storage. Merolli (1998) added that most oil industry analysts had anticipated a profit report of $661 million to $719 million.
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