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| 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, UK |
| Key people | Sir Robert Wilson, Chairman Frank Chapman, CEO |
| Industry | Oil Production Natural Gas Companies |
| Products | Oil Natural Gas |
| Revenue | £8,291 million (2007) |
| Operating income | £3,001 million (2007) |
| Net income | £1,800 million (2007) |
| Employees | circa 5,000 |
| Website | www.bg-group.com |
BG Group Plc (LSE: BG.) is an integrated oil and gas company which has its headquarters in Reading, England. BG Group has use of the trading name "British Gas" outside the United Kingdom; Centrica owns the rights to use it within the UK. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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History
The company was created in 1997 when British Gas plc divested Centrica1 and became BG plc, which was reorganised in 1999 as BG Group plc.2
In 2000 a further demerger separated the company into Lattice Group plc 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
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
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:
References
- ^ British Gas to split in February 1997
- ^ a b c d Competion Commission Report Page 313
- ^ Sarbos strikes again: BG to delist from NYSE
- ^ Pink Sheets Press Release (25 September, 2007): BG Group plc Joins International OTCQX
- ^ BG Group admits defeat in bid for Origin
- ^ BG Group to buy Queensland Gas for $3.4bn
External links
- Official site
- Dividend history
- Yahoo! profile
- BG news monitoring from Google Finance
- BG stock performance chart from BigCharts
- BG Energy Challenge
- Graphical illustration of the demerger history of British Gas
Wikipedia content modification information:
- This page was last modified on 1 December 2008, at 16:28.
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