Problem: Please examine the mix of debt and equity that British Petroleum (BP) uses. After finding this information:
• Compare this to an industry average or Dutch Shell. What are the differences?
• Based on what you know about BP, do these differences seem appropriate?
• Relate BP's capital structure choices to the appropriate capital structure theory (ies).
BP Annual Report and Form 20-F 2012:
https://www.bp.com/content/dam/bp/pdf/investors/BP_Annual_Report_and_Form_20F_2012.pdf
Royal Dutch Shell plc annual report of 2012:
https://reports.shell.com/annual-report/2012/servicepages/downloads/files/entire_shell_ar12.pdf