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Q1 2014 RESULTS PRESENTATION – BP Plc

BP Plc · Apr 29, 2014 · 23 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. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 1
    1Q 2014 Results 29th April 2014 Clair, North Sea
  2. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 2
    Jess Mitchell Head of Group Investor Relations PSVM, Block 31 Angola
  3. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 3
    Bob Dudley Group Chief Executive Prudhoe Bay, Alaska North Slope
  4. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 4
    Agenda 1Q 2014 Results US legal update Business progress The BP Proposition Q&A 5
  5. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 5
    Brian Gilvary Chief Financial Officer Stena Carron drillship, North Sea
  6. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 6
    1Q 2014 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 1Q13 4Q13 1Q14 Upstream 5.7 3.9 4.4 Downstream 1.6 0.1…
  7. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 7
    Upstream (excluding Russia) Realisations(1) Volume Underlying RCPBIT(2) 120 20 3,000 6 5.7 100 2,750 16 4.4 4.4 4.3 80 2,500 4 3.9 12 mboed /mcf /bbl bn 60 2,250 8 40 2,000 2 4 20 1,750 0 0 1,500 0 1Q13…
  8. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 8
    Rosneft BP share of underlying Dividend received from Average oil marker prices net income (1) Rosneft (2) 120 1.2 0.5 100 1.0 0.4 80 0.8 0.3 /bbl bn bn 60 0.6 0.2 40 0.4 11 0.1 20 0.2 days 0 0.0 0.0 1Q13…
  9. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 9
    Downstream BP average RMM(1) Refining availability Underlying RCPBIT(2) 24 98 2.0 1.6 20 96 1.5 1.2 16 94 1.0 1.0 /bbl 0.7 bn % 12 92 0.5 8 90 0.1 0.0 4 88 0 86 -0.5 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 2Q13 3Q13…
  10. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 10
    Other items OB&C underlying RCPBIT(1) Underlying effective tax rate 1Q13 2Q13 3Q13 4Q13 1Q14 45 0.0 40 (0.1) 35 (0.2) 30 25 (0.3) bn % 20 (0.4) (0.4) 15 (0.4) (0.5) (0.5) 10 (0.5) 5 (0.6) (0.6) 0 (0.7) 1Q13…
  11. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 11
    Gulf of Mexico oil spill costs and provisions pre-tax(1) To end Cumulative bn 1Q14 2013 to date Income statement Charge for the period 42.7 0.0 42.7 Balance sheet(2) Brought forward 8.5 Charge to income statement 42.7 0.0 42.7…
  12. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 12
    Divestments Additional 10bn divestments by end 2015 38bn divestment programme completed in 2013 12 10bn of further divestments planned by end 2015 10 8 bn Over 3bn of divestments agreed to date 4 Includes sale of package…
  13. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 13
    Sources and uses of cash 20 1Q 2013(1) 1Q 2014 20 15 15 Net cash from TNK-BP disposal 11.8bn 10 10 bn bn Disposals Gulf of Mexico oil spill Share Share buybacks Gulf of Mexico oil spill Buybacks Dividends 75m…
  14. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 14
    Net debt ratio 35 30 25 20 to 30% 20 % 15 10 to 20% 10 5 0 2008 2009 2010 2011 2012 2013 2014 Net debt ratio = net debt / (net debt + equity) Net debt includes the fair value of associated derivative financial…
  15. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 15
    Shareholder distributions Dividend paid per share(1) Number of Dividend declared ordinary shares today 10.0 20 8.0 19 cents/share 6.0 18 bn 4.0 17 2.0 16 15 0.0 2011 2012 2013 2014 2012 1Q14 (1) Dividend…
  16. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 16
    Growing sustainable free cash flow Post-tax operating cash flow Progressive dividend policy underpinned by More than 50% growth in operating cash flow in 2014 at 100/bbl versus 2011(1) 30-31bn 3.7bn TNKBP operating dividend…
  17. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 17
    Bob Dudley Group Chief Executive Central Azeri platform, Azerbaijan
  18. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 18
    US legal update MDL 2179 trial Phase 1 and 2 proceedings complete Penalty phase scheduled to begin 20th January 2015 PSC settlement(1) Fifth Circuit rulings on BEL(2) contract misinterpretation New matching policy under consideration…
  19. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 19
    Upstream milestones and progress Active portfolio management Mars B Sale of selected Alaska North Slope interests New model for US Lower 48 onshore business Access and exploration New discoveries at Orca and Notus prospects Success…
  20. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 20
    BP in Russia Appointment of David Campbell as new BP Head of Russia Based in Moscow Reporting to BP Group Chief Executive Combines BPs Head of Russia and President of BP Russia roles Rosneft milestones and progress Sale of 49%…
  21. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 21
    Downstream milestones and progress Progress 1Q14 Solomon refining availability at 95% Heavy crude throughput at Whiting refinery reached about 200,000 barrels per day at end 1Q14 Milestones Announced decision to halt refining…
  22. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 22
    2014 TO 2018 THE BP PROPOSITION Value over volume Active portfolio management Growing sustainable free cash flow Material growth in operating cash flow Capital discipline Growing distributions Progressive dividend Surplus…
  23. Q1 2014 RESULTS PRESENTATION – BP Plc – slide 23
    Q&A Bob Dudley Group Chief Executive Brian Gilvary Chief Financial Officer Jess Mitchell Head of Group Investor Relations 24

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