Global 500

With the Deepwater Horizon oil spill in the Gulf of Mexico two years ago, BP was forced to sell $30 billion of its assets to pay for related costs and claims, but with profits rebounding from a $3.3 billion loss in 2010 to nearly $26 billion last year, it appears the third-largest energy company in the world is well on its way to righting itself.

Throughout 2011, the company focused on three main priorities – reviewing and restructuring its safety procedures, cooperating with efforts related to the oil spill, and establishing a 10-point plan to grow its operating cash flow. “We remained mindful of the tragic events seen in 2010 and the need to ensure such an accident never happens again,” wrote BP chairman Carl-Henric Svanberg in a letter to shareholders.  -- J.P. Mangalindan, writer