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This document analyzes three key PESTEL factors affecting BP's oil production:
1. Political instability in Libya and Egypt, where BP has significant investments, has disrupted oil operations due to unrest. This has driven up oil prices.
2. Economic pressures include a UK VAT increase, rising oil prices driven partly by Middle East instability, and a reduction in world oil consumption since 2007.
3. Dependence on the Suez Canal for oil transit from the Middle East to markets creates risks if the canal is disrupted by instability in Egypt. Nearly 3 million barrels per day pass through the canal.
This document analyzes three key PESTEL factors affecting BP's oil production:
1. Political instability in Libya and Egypt, where BP has significant investments, has disrupted oil operation…