IFIs with three pillars IMF20, WB21, WTO22 respectively is the modern international monetary system took origin in the forties. The aim was to improve economic stability and promote trade. In a small aspect of this assignment, we are going to consider the role of WB affect upon BP. The WB has used the UK as a positive precedent for privatisation without properly interpreting the UK record.
Whilst many people included BP Company accept, with the Bank, that there have been some benefits from UK privatisation, i. e. Price reductions, efficiency gains and investments in environmental protection, more controversial aspects have been overlooked or downplayed. Besides UK, BP and the WB are discussing the possibility of arranging a loan to bring money for education and health programs to the Indonesian province of Papua23. BP has formally asked for funding from the WB and other IFIs for its controversial new Caspian oil pipeline.
Besides these factors above, BP is also as referred as the geocentric- world orientation company while the head office establishes universal policies. As a big oil and gas company, BP is also trying to seek the efficiency so that it will satisfy the activities of the company. CONCLUSION British Petroleum Company
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Also in the far environment, the company is highly contemplated through international trade theories such as comparative advantage and a relative factor endowment; the force shaping the international business; PESTEL factors which included clearly examples; international trade blocks such as OECD countries; the role of IFIs and some aspects of BP business environment that we could think is important.
BP business is strong, the company is soundly managed, and their people are determined to be the best in their field. However, the company has to look at some problems that will occur when they are doing their business. As things that would be considered on this assignment, BP is referred to one of the biggest energy company in the whole global.