 |
|
|
|
|
|
| External environment |
|
| |
|
2003 |
|
2002 |
|
|
|
| BP average liquids realizations ($/barrel) |
|
27.25 |
|
22.69 |
|
| Brent oil price ($/barrel) |
|
28.83 |
|
25.03 |
|
| BP average natural gas realizations |
|
|
|
|
|
| ($/thousand cubic feet) |
|
3.39 |
|
2.46 |
|
| Henry Hub gas price ($/mmBtu) |
|
5.37 |
|
3.22 |
|
| Global indicator refining margin ($/barrel) |
|
3.88 |
|
2.11 |
|
| Chemicals indicator margin ($/tonne) |
|
113a |
|
104 |
|
|
|
|
|
| a |
Provisional |
|
|
|
|
|
|
| Operating statistics |
|
| |
|
2003 |
|
2002 |
|
|
|
| Liquids production (thousand b/d) |
|
2,121 |
|
2,018 |
|
| Gas production (million cf/d) |
|
8,613 |
|
8,707 |
|
| Total production (thousand boe/d) |
|
3,606 |
|
3,519 |
|
| Gas sales (million cf/d) |
|
26,269 |
|
21,621 |
|
| Refinery throughputs (thousand b/d) |
|
3,097 |
|
3,103 |
|
| Marketing sales (thousand b/d) |
|
4,032 |
|
4,180 |
|
| Petrochemicals production (thousand tonnes) |
|
27,943 |
|
26,988 |
|
|
|
|
|
|
|
|
|
| Special items |
|
| |
|
|
|
$ million |
|
|
|
| |
|
2003 |
|
2002 |
|
|
|
| Restructuring, integration and rationalization costs |
|
389 |
|
774 |
|
| Impairment charges and asset write-downs |
|
357 |
|
985 |
|
| Environmental charges |
|
236 |
|
46 |
|
| Insurance claim |
|
– |
|
(184 |
) |
| Pipeline incident |
|
– |
|
62 |
|
| Litigation |
|
– |
|
55 |
|
| Other, including vacant space provisions |
|
117 |
|
162 |
|
|
|
| |
|
1,099 |
|
1,900 |
|
| Interest – bond redemption charges |
|
– |
|
15 |
|
|
|
| Total special items before tax |
|
1,099 |
|
1,915 |
|
| Taxationa |
|
(655 |
) |
(456 |
) |
| Minority shareholders' interest |
|
– |
|
(16 |
) |
|
|
| Total special items after tax |
|
444 |
|
1,443 |
|
|
|
|
|
| a |
2002 includes an adjustment to the North Sea deferred tax liability for the supplementary UK corporation tax as well as tax relief expected on impairments
and related restructuring. 2003 includes tax restructuring benefits. |
|
|
|
|
|
|
| Capital investment |
|
| |
|
|
|
$ million |
|
|
|
| |
|
2003 |
|
2002 |
|
|
|
| Exploration and Production |
|
9,658 |
|
9,266 |
|
| Gas, Power and Renewables |
|
359 |
|
335 |
|
| Refining and Marketing |
|
3,006 |
|
2,682 |
|
| Petrochemicals |
|
775 |
|
810 |
|
| Other businesses and corporate |
|
251 |
|
228 |
|
|
|
| Capital expenditure |
|
14,049 |
|
13,321 |
|
| Acquisitions |
|
6,026 |
|
5,790 |
|
|
|
| |
|
20,075 |
|
19,111 |
|
| Disposals |
|
(6,432 |
) |
(6,782 |
) |
|
|
| Net investment |
|
13,643 |
|
12,329 |
|
|
|
|
|
|
|
