Share on Facebook Share on Twitter Email
Answers.com

BG Group

 
Hoover's Profile: BG Group plc
Home > Library > Business & Finance > Hoover's Profiles
(Pink Sheets:BRGYY) (London:BG)
Contact Information
BG Group plc
100 Thames Valley Park
Reading RG6 1PT, United Kingdom
Tel. +44-118-935-3222
Fax +44-118-935-3484

Type: Public
On the web: http://www.bg-group.com
 Employees: 4,949
Employee growth: 3.8%

The BG in BG Group stands for British Gas, but BG Group finds not only gas but also oil, all over the world. In addition to conducting its core oil and gas exploration and production operations, it is involved in the downstream operations of liquefied natural gas (LNG) production, gas transmission and distribution, and power generation. The group is one of the largest exploration and production companies operating in the North Sea, and in 2008 it reported proved reserves of 2.5 billion barrels of oil equivalent and an annual production averaging 226.7 million barrels of oil equivalent. In 2009 it moved into the lucrative US shale gas market, forming an alliance with EXCO Resources.

Key numbers for fiscal year ending December, 2008:
Sales: $18,466.1M
One year growth: 13.4%
Net income: $4,559.0M
Income growth: 26.9%

Officers:
Chairman: Sir Robert P. Wilson
CEO and Director: Frank Chapman
CFO and Managing Director, Europe and Central Asia, and Board Member: Ashley Almanza

Competitors:
Eni
GDF SUEZ
Royal Dutch Shell

Search unanswered questions...

Enter a question here...
Search: All sources Community Q&A Reference topics

Wikipedia: BG Group
Top
Home > Library > Miscellaneous > Wikipedia
BG Group plc
Type Public (LSE: BG Group, Pink Sheets: BG Group)
Founded 1997 Demerger of Centrica
2000 Demerger of Latice Group from BG Group
Headquarters Reading, England
Key people Sir Robert Wilson, Chairman
Frank Chapman, Chief Executive
Industry Oil Production
Natural Gas Companies
Products Oil
Natural Gas
Revenue £12,566 million (2008)
Operating income £5,106 million (2008)
Net income £3,150 million (2008)
Employees circa 9,000
Website http://www.bg-group.com

BG Group PLC (LSE: BG.) is an integrated oil and gas company which has its headquarters in Reading, Berkshire, England. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Contents

History

British Gas

The company was created in 1997 when British Gas plc divested Centrica[1] and became BG plc, which was reorganised in 1999 as BG Group plc.[2]

Lattice Group de-merger

On 23 October 2000, a further demerger separated the company into Lattice Group and BG Group.[2] Lattice took ownership of Transco (the gas transporter for the UK), Advantica (gas engineering and consultancy specialist) along with the property and transport companies and BG Group took ownership of gas fields and other assets.[2]

In 2002, Lattice merged with National Grid Company to become National Grid Transco which was renamed National Grid in 2005.[2]

Delisting

In September 2007, BG Group delisted its ADRs from the New York Stock Exchange after expressing concerns over the tougher rules and high costs associated with the Sarbanes-Oxley Act.[3] Instead its shares began trading on the US over-the-counter market known as the Pink Sheets "International Premier QX".[4]

Acquisitions

In June 2008 BG Group launched a US$13.1 billion hostile and ultimately unsuccessful bid to acquire Origin Energy, Australia's largest coal-seam gas producer: BG Group were out-manoeuvered by ConocoPhillips who offered to invest US$9.1 billion in a joint venture with Origin.[5]

In October 2008 BG Group agreed to buy Queensland Gas for US$3.4bn so enabling it to operate in Asia's liquified natural gas market.[6]

Operations

BG Group's main business is exploration for and the extraction of natural gas, liquefied natural gas and to a lesser extent oil. It sells these products to wholesale customers such as retail gas suppliers and electricity generating companies. It also owns some gas pipelines and is involved in some power generation projects. It is active around the world, with only a minority of its business being in the UK. BG Group is a multinational company with operations in 27 countries. Key areas for the company include:

Senior management

Frank Chapman was appointed Chief Executive of the BG Group in October 2000. His remuneration for this role in 2008 consisted of £1,081,588 base salary and a £1,944,000 bonus.[7]

References

  1. ^ British Gas to split in February 1997
  2. ^ a b c d Competition Commission Report Page 313
  3. ^ Sarbos strikes again: BG to delist from NYSE
  4. ^ Pink Sheets Press Release (25 September, 2007): BG Group plc Joins International OTCQX
  5. ^ BG Group admits defeat in bid for Origin
  6. ^ BG Group to buy Queensland Gas for $3.4bn
  7. ^ "Remuneration report". Annual Report & Accounts 2008. BG Group. http://bgara.blacksunplc.com/ara/report_corp_gov/directors_remuneration.html. Retrieved 23 August 2009. 

External links


Factory 1b.svg Companies portal
v • d • e
United Kingdom FTSE 100 companies of the United Kingdom

As of 5 November 2009.

3i · Admiral Group · Alliance Trust · AMEC · Anglo American · Antofagasta · Associated British Foods · AstraZeneca · Autonomy Corporation · Aviva · BAE Systems · BG Group · BHP Billiton · BP · BT Group · Barclays · British Airways · British American Tobacco · British Land Company · British Sky Broadcasting · Bunzl · Burberry Group · Cable & Wireless · Cadbury · Cairn Energy · Capita Group · Carnival · Centrica · Cobham · Compass Group · Diageo · Eurasian Natural Resources Corporation · Experian · Fresnillo · G4S · GlaxoSmithKline · HSBC · Hammerson · Home Retail Group · ICAP · Imperial Tobacco · Inmarsat · InterContinental Hotels Group · International Power · Intertek Group · Invensys · Johnson Matthey · Kazakhmys · Kingfisher · Land Securities Group · Legal & General · Liberty International · Lloyds Banking Group · London Stock Exchange Group · Lonmin · Man Group · Marks & Spencer · Wm Morrison Supermarkets · National Grid · Next · Old Mutual · Pearson · Petrofac · Prudential · RSA Insurance Group · Randgold Resources · Reckitt Benckiser · Reed Elsevier · Rentokil Initial · Resolution · Rexam · Rio Tinto Group · Rolls-Royce Group · Royal Bank of Scotland Group · Royal Dutch Shell · SABMiller · Sage Group · J Sainsbury · Schroders · Scottish and Southern Energy · SEGRO · Serco Group · Severn Trent · Shire · Smith & Nephew · Smiths Group · Standard Chartered Bank · Standard Life · Tesco · Thomas Cook Group · TUI Travel · Tullow Oil · Unilever · United Utilities · Vedanta Resources · Vodafone · WPP Group · Whitbread · Wolseley · Xstrata

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

 
 

 

Copyrights:

Hoover's Profile. ©2008 Hoover's, Inc. All rights reserved.  Read more
Wikipedia. This article is licensed under the Creative Commons Attribution/Share-Alike License. It uses material from the Wikipedia article "BG Group".  Read more