BP Oil Company`s approach to risk management
The oil and chemical industries face major challenges in deciding how to handle the numerous recommendations coming from various audits, reviews and studies conducted in the functional areas of personnel health and safety, loss prevention, and environmental protection. And, the number of recommendations continues to grow with time, as regulations and normal business requirements are met. BP Oil has developed a methodology for risk ranking the events leading to specific recommendations and then determining the cost-effectiveness of the recommendations in reducing the risk. We completed successful pilot tests of this methodology at two of our petroleum refineries, examining the recommendations from process hazards analyses and studies completed over the past few years. The methodology has since been implemented throughout our petroleum refining, distribution, transportation, and retail business streams.
- OSTI ID:
- 269166
- Report Number(s):
- CONF-960107-; TRN: 96:002013-0039
- Resource Relation:
- Conference: annual exhibition and conference for environment, health and safety in the oil, gas and petrochemical industries, Houston, TX (United States), 30 Jan - 1 Feb 1996; Other Information: PBD: 1996; Related Information: Is Part Of Energy week `96 - PETRO-SAFE; PB: 291 p.
- Country of Publication:
- United States
- Language:
- English
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