Source: Platts, * except Russian domestic oil which is sourced from Argus

The refining margins shown above are compiled using data from third party databases, and as such may be subject to possible errors.

* The Refining Marker Margin (RMM) is a generic indicator. Actual margins realised by BP may vary significantly due to a variety of factors, including specific refinery configurations, crude slate and operating practices.

Important note

The rules of thumb were provided following the 4Q12 and FY12 Results on 5th February 2013. They are intended to give directional indicators of the impact of changes in the trading environment on BP's 2013 full-year pre-tax results.

These rules of thumb are approximate and based upon BP’s current view of the 2013 portfolio excluding announced divestments. Changes in margins, differentials, seasonal demand patterns, operational issues, and other factors including timing of acquisition and divestment activity, can also materially impact the results. Significant differences between the estimates implied by the application of the rules of thumb and the actual results themselves may also arise due to complex mechanisms for calculating government shares of Upstream revenues in some jurisdictions, depending on price levels, as well as in the Downstream from variations between the Refining Marker Margin (RMM) and BP's realised refining margins due to crude price levels and differentials, product price movements and other factors. The RMM rule of thumb reflects the sensitivity of the group to changes in refining margins and for 2013 excludes Texas City and the US South West Fuels Value Chains for the whole year. Many other factors will affect BP's earnings quarter-by-quarter. Actual results in individual quarters may therefore differ significantly from the estimates implied by the application of these rules of thumb.