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This is the first of a two-case series (200-005-1 and 200-006-1). After considering the economic state of the oil industry, particularly its structure and competition, Part one looks at BP Amoco''s competitive planning in the last ten years within a framework of shareholder value developed by Thakor, DeGraff and Quinn, the ''strategic value proposition quadrant''. BP Amoco''s strategy fits this model well in most important respects: focus on efficiency/control and market awareness and less attention to individual capability and technical information. Always focusing on shareholder value in this period, the company re-balanced from an emphasis on costs reduction in the early 90s towards growth and market awareness at the end of the decade. The role of acquisitions is explored in 1998 to 2000. Part two examines the role of finance and financial strategy in BP Amoco in this period, to see where and how far it was supportive of competitive strategies followed by senior managers. Damodaran''s model of how corporate strategy can create value is referred to, together with Rappaport''s ''value drivers''. Ratio analysis following McKenzie is used to analyse the company''s financial strategy and performance, and valuation measured by net asset value, earnings multiple and Economic Value Added, the concept of economic profit promoted by Stern Stewart and Company.