Regardless of how you call it, be it BP or British petroleum, you can hardly deny its status as one of the leading energy companies throughout the world and with that kind of size and market control we can hardly fault you for wanting to trade in some BP Binary options, but before you do so, you might benefit from some background on this industry giant.
With its roots as far back as 1908 in the Anglo-Persian oil company, BP was established by the Burmah oil company in order to explore, develop and eventually tap some of the recently discovered oil in Iran, the company went through a couple of name changes in its early years, finally settling on British Petroleum in 1954, with the official change to BP coming in 2001.
The company saw its initial rise to power come as a result of World War 1, when the British navy was persuaded to shift from coal to oil, 100% of which was to be produced from Iranian oil fields under the control of BP, after the war ended BP expanded by building a few refineries throughout the UK, BP also used a paid consultant by the name of Winston Churchill to help convince the British government that they should have exclusive oil supply rights to anything coming out of those Iranian oil fields, and the Iranian government ratified that decision soon after (though some claim they were handsomely compensated to do so).
BP used their new found stranglehold on Iranian oil to expand into Iraq which was still under British mandate; they struck oil there in 1927, initially to great success, but their control on the area was weakened after the 2nd World War, when Iranian nationals took over its government and basically booted BP and all British interests out of the country, while nationalizing the entire oil industry.
Like any good company, BP was determined not to let go of its control and massive profits, so it had its former paid consultant Winston Churchill, who was now the prime minister of England to link to the US and together they organized a complete boycott of all oil coming out of Iran, which completely undermined the Iranian economy, but they did not stop there, the US and England were also behind the 1953 Iranian coup d’état which seated a pro-western general in power, who promptly reversed the nationalization of Iranian oil and allowed BP and other companies to return to the country.
BP expanded into Canada, the US and Africa in the 50’s and 60’s and continued to explore various locations throughout the planet for oil, gas and other deposits.
BP’s main base of operation is in London, where it also primarily listed on the stock exchange, in recent years it has stabilized itself as being one of the largest energy companies in the world, with revenue in excess of 390 billion US dollars in 2013 and nearly 85,000 employees over the globe.
We cannot speak about British Petroleum without mentioning its somewhat spotty safety record, despite its efforts to rebrand and move away from sketchy areas of shipping and handling which were the norm in years past, BP is responsible for the worse oil spills in UK and US history, with the Torrey Canyon spill off the coasts of Cornwall and Brittany in the 60’s and the more recent deepwater horizon oil spill in 2010, which is the worst oil spill in history, for which legal proceedings are still pending against BP, while it has already paid 4.5 Billion dollars in damages, that further action may increase fines against it to an estimated 18-20 billion USD, in addition to the near 30 Billion it has already spent in cleanup efforts and other litigation.
In spite of that litigation, trading in BP binary options is not at all a bad investment, one must simply be aware of the surrounding conditions before proceeding with any trades, look at supply & demand in various locations, mostly the US and UK where BP has its biggest interests, and as always, keep track of internal financial conditions.
If you preform your due diligence you might very well strike profits with your BP binary option investment.