BG Group

=Global Snapshot= BG Group is a British multinational natural gas company, which is one of the top-20 global oil and gas groups, according to Reuters. It is also the UK's third largest oil and gas producer and was listed 44th in the Global Energy Company Ranking in 2014.

BG Group's origins trace to the state-run British Gas Corporation. The Corporation was privatised in 1986 and renamed British Gas plc; that company then split into BG plc and Centrica in 1997. In December 1999, BG plc completed a financial restructuring which resulted in the creation of a new parent company, BG Group plc. 

With headquarters in the United Kingdom, it operates in more than 25 countries across Africa, Asia, Australia, Europe, North and South America. BG Group produced about 680,000 barrels of oil equivalent a day (boe/d) in 2014. In 2014 it had total proven reserves of around 3 billion barrels of oil equivalent about half of which lie in Egypt and the United Kingdom.

Company Report Highlights
BG Groups Full Year Results reveal that the company's total operating profit decreased by 14 percent to US $6.5 billion in 2014, mainly due to a 4% decrease in production volumes, combined with higher operating costs and depreciation in Upstream, lower oil and liquids pices that were not fully hedged, and a higher cost of supply in LNG.

BG Group in Gaza
BG Group is at the center of a dispute over the exploitation of a gas field offshore the Gaza Strip, in which it is the main shareholder. The Group and its partner, the Consolidated Contractors International Company (CCC), were initially granted oil and gas exploration access in 1999 through the Palestinian Authority (PA). Since the Group successfully drilled two wells with reserves of approximately 1.4 trillion cubic feet in 2000, there has been political controversy between the Israeli government, the PA, and Gaza ruling Hamas over production, consumption and revenues.

In 2007, BG Group stopped negotiations with the Israeli government for the gas sales from the Gaza Marine field and closed its office in Israel in 2008. According to a leaked US diplomatic cable from 2008, a senior BG Egypt official said the company didn't expect any movement in the near future on the development of the gas field "in light of Israeli intransigence on price, and political developments in Gaza". . In 2013 Israeli economic daily Globes reported that BG Group is holding "secret talks" on the possible development of the Gaza-Marine offshore gas field.

Takeover by Shell
In April 2015 Royal Dutch Shell announced a deal to buy BG Group in a cash and stock deal worth $69.6 billion. Under the terms of the deal, BG Shareholders will receive 383 pence in cash for each BG Share and 0.4454 Shell B shares, a 50 per cent premium to BG's closing share price on the day of the agreement of 910.4 pence. Post closing, BG shareholders will hold 19 per cent of the enlarged company, while the remaining will be held by Shell shareholders. Shell expects the merger to generate pre-tax synergies of approximately $2.5 billion per annum and has also identified further significant opportunities. According to Ben van Beurden, CEO of Shell BG will accelerate Shell's financial growth strategy, particularly in deep water and liquefied natural gas.

=Global Reputation=

What BG Group says about its corporate citizenship
In 2010 BG Group introduced the annual Sustainability Report, in which it reports on its performance in key areas, including Ethical Conduct, Safety/Health/Security and Environment. BG Group has claimed it is especially concerned with water management, oil spill reponse, biodiversity and its emissions performance.

EITI Supporter Status
BG Group is a supporting company of the Extractive Industries Transparency Initiative.

UN Global Compact
BG Group is has been an active member of the UN Global Compact initiative since 2005.

=Global Operations by Country=

Egypt
"Main article: BG Group Operations in Egypt"

Kenya
"Main article: BG Group Operations in Kenya"

Tanzania
"Main article: BG Group Operations in Tanzania"

=References=