Annual Report and Form 20-F
TL;DR
After two disasters, BP recentralized safety while keeping operations distributed—some functions are too important to decentralize.
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Documents BP's organizational restructuring after two catastrophic failures—showing how companies recentralize safety and risk functions following existential crises while maintaining distributed operational autonomy.
Key Findings from plc (2023)
- $187 billion revenue across operations in 70+ countries
- Recentralized safety and operational risk functions post-Deepwater
- Hybrid architecture: centralized existential risk, distributed operations
- Dual approval required for critical decisions (operational and safety)
- Response to Texas City (2005) and Deepwater Horizon (2010) disasters