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1Q 2012 EARNINGS CALL – BP Plc

BP Plc · May 1, 2012 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1Q 2012 EARNINGS CALL – BP Plc – slide 1
    1Q 2012 Results Presentation 1 May 2012
  2. 1Q 2012 EARNINGS CALL – BP Plc – slide 2
    Jessica Mitchell Head of Investor Relations
  3. 1Q 2012 EARNINGS CALL – BP Plc – slide 3
    Brian Gilvary Chief Financial Officer
  4. 1Q 2012 EARNINGS CALL – BP Plc – slide 4
    1Q 2012 Summary Underlying earnings figures are adjusted for the costs associated with the Gulf of Mexico oil spill, other non-operating items and fair value accounting effects bn 1Q11 4Q11 1Q12 % YOY Upstream 6.7 5.9 6.3 TNK-BP(1)…
  5. 1Q 2012 EARNINGS CALL – BP Plc – slide 5
    Upstream (excluding TNK-BP) Underlying replacement cost Realizations(1) Volume profit before interest and tax(2) 120 20 1,600 8 1,400 6.7 100 6.3 6.3 6.3 16 5.9 1,200 6 80 12 1,000 mboed /mcf /bbl bn 60 800 4 8…
  6. 1Q 2012 EARNINGS CALL – BP Plc – slide 6
    TNK-BP BP share of underlying Average oil marker prices net income(1) BP share of dividend 140 1.4 1.8 1.6 120 1.2 1.4 100 1.0 1.2 80 0.8 1.0 /bbl bn bn 60 0.6 0.8 0.6 40 0.4 0.4 20 0.2 0.2 0 0.0 0.0 1Q11…
  7. 1Q 2012 EARNINGS CALL – BP Plc – slide 7
    Downstream BP average Underlying replacement cost Refining Marker Margin Refining availability % profit before interest and tax(1) 20 98 2.5 2.2 18 96 16 2.0 1.7 14 94 12 1.5 1.4 bn 10 92 /bbl 0.9 8 1.0 0.8 90…
  8. 1Q 2012 EARNINGS CALL – BP Plc – slide 8
    Other items OB&C underlying RCPBIT(1) Effective Tax Rate % (2) 1Q11 2Q11 3Q11 4Q11 1Q12 0.0 45 (0.1) 40 (0.2) 35 (0.3) (0.3) bn (0.3) (0.4) 30 (0.4) (0.4) (0.5) 25 (0.6) (0.6) (0.7) 20 1Q11 2Q11 3Q11 4Q11…
  9. 1Q 2012 EARNINGS CALL – BP Plc – slide 9
    Gulf of Mexico oil spill costs and provisions pre-tax(1) Cumulative bn To end 2011 1Q12 to date Income statement Charge / (credit) for the period 37.2 (0.0) 37.2 Balance sheet (2) Brought forward 10.6 Charge / (credit) to income…
  10. 1Q 2012 EARNINGS CALL – BP Plc – slide 10
    Divestments Wytch Farm US Natural Gas Midstream Southern Gas assets* Liquids Canada Egypt Western Aluminium Desert Western Permian Assets Canada Gas LukArco Cumulative divestments proceeds(1) 25 Wattenberg gas 50% Devon 20…
  11. 1Q 2012 EARNINGS CALL – BP Plc – slide 11
    Sources and uses of cash 1Q 2011 1Q 2012 8 8 7 7 6 Inorganic 6 capex 5 5 bn bn Organic 4 4 Disposals capex Disposals 3 Organic 3 capex 2 2 Operating (1) Operating cash flow (1) 1 cash flow 1 Dividends…
  12. 1Q 2012 EARNINGS CALL – BP Plc – slide 12
    Net debt ratio 35 30 25 20 to 30% 20 % 15 10 to 20% 10 5 0 2008 2009 2010 2011 2012 2013 Net debt ratio = net debt / (net debt + equity) Net debt includes the fair value of associated derivative financial instruments…
  13. 1Q 2012 EARNINGS CALL – BP Plc – slide 13
    Progress in the US Response completion Shoreline patrolling and maintenance continues Environmental restoration Natural Resource Damages Assessment (NRDA) progressing Phase 1 early restoration plan finalized by NRDA Trustees Economic…
  14. 1Q 2012 EARNINGS CALL – BP Plc – slide 14
    Moving BP Forward 10 - point plan What you can expect What you can measure 1. Relentless focus on safety and managing 6. Active portfolio management to continue risk 7. New upstream projects onstream with unit 2. Play to our…
  15. 1Q 2012 EARNINGS CALL – BP Plc – slide 15
    10 - point plan Progress and milestones Focus on exploration New access Brazil deepwater, US shale, Namibia and Uruguay Active portfolio management 23bn of divestments announced against 38bn program Increasing operating cash flow…
  16. 1Q 2012 EARNINGS CALL – BP Plc – slide 16
    Q&A Brian Gilvary Chief Financial Officer Jessica Mitchell Head of Investor Relations 17

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