BP 2011 Annual Report Download - page 31

Business review: Group overview
BP Annual Report and Form 20-F 2011 29
Technology will continue to play a critical role in our upstream activities, as the
upstream technology flagships diagram demonstrates. In addition, our Project
20KTM is a significant new initiative that illustrates how new advances have the
potential to deliver material value. Through this, we are investing in technology to
enable exploration, development and production of reservoirs that were previously
beyond reach due to high reservoir pressures, including those at a pressure
between 15,000 and 20,000 pounds per square inch. Successful deployment
of these technologies would enable us to further develop a number of our
existing resources substantially, and we also see opportunities to develop new
onshore and offshore resources – both as BP and in partnership with national oil
companies.
Downstream – working across our value chains
Our Refining and Marketing segment is responsible for the refining, manufacturing,
marketing, transportation, and supply and trading of crude oil, petroleum,
petrochemicals products and related services to wholesale and retail customers.
We have significant operations in Europe, North America and Asia, and we also
manufacture and market our products across Australasia, southern Africa and Central
and South America. In total we market our products in more than 70 countries.
The segment comprises three main businesses: fuels, lubricants and
petrochemicals. All of our businesses operate as value chains. Previously we
discussed the segment under the headings of fuels value chains and international
businesses, but we now report the value chains by business.
The fuels businesses sell refined petroleum products including gasoline,
diesel and aviation fuel. Within this, the fuels value chains (FVCs) integrate the
LUBRICANTS
BLENDING
REFINING
MARKETING/
SUPPLY
PETROCHEMICALS
Conversion technology
Conversion of
unconventional
feedstocks, including
renewables, to fuels
and petrochemicals.
Refining technology
Optimizes crude oil selection, utilization
and refinery processing capability to
produce high-quality petroleum products.
End products: fuels, oils, bitumen, coke
Petrochemicals technology
Develops, deploys and optimizes
proprietary technologies to produce
high-value petrochemicals intermediates.
End products: solvents/resins,
plastics, textiles/fibres
Lubricants technology
Develops unique lubricants and
high-performance fluids for
transportation and industrial applications.
End products: lubricants
Fuels technology
Develops and
implements new
high-efficiency
fuel products.
End products:
gasoline, diesel,
aviation fuel,
marine fuel
Downstream technology
In detail
For more information on
Refining and Marketing,
see BP in more depth.
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