BP Fourth Quarter and Full-Year 2009 Results
Release date: 02 February 2010
Download the full version of our fourth quarter and full-year 2009 results using the link below.
(a) Profit attributable to BP shareholders.
(b) Cash costs are a subset of production and manufacturing expenses plus distribution and administration expenses. They represent the substantial majority of the expenses in these line items but exclude associated non-operating items and certain costs that are variable, primarily with volumes (such as freight costs). They are the principal operating and overhead costs that management considers to be most directly under their control although they include certain foreign exchange and commodity price effects.
Forward Looking Statements - Cautionary Statement:
This presentation and the associated slides and discussion contain forward looking statements, particularly those regarding production growth and future production; oil and gas markets; cash costs; capital expenditure and capital efficiency; divestments; effective tax rate; refining and petrochemical margins; global economic outlook; dividend and scrip dividend; efficiency of our regional business service centres; reverse of consolidation adjustments reflecting higher volumes of equity barrels in our downstream inventories at year-end and higher prices; foreign exchange and energy costs; depreciation, depletion and amortization; underlying average quarterly charge from other business and corporate costs; strategy (including our focus on upstream profit growth, cost and capital efficiency, downstream turnaround and cost efficiency, focus and disciplined investment in Alternative Energy and corporate efficiency). By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors, including the timing of bringing new fields on stream; future levels of industry product supply; demand and pricing; operational problems; general economic conditions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; regulatory or legal actions; exchange rate fluctuations; development and use of new technology; changes in public expectations and other changes in business conditions; the actions of competitors; natural disasters and adverse weather conditions; wars and acts of terrorism or sabotage; and other factors discussed elsewhere in this presentation.
Reconciliations to GAAP:
This presentation also contains financial information which is not presented in accordance with generally accepted accounting principles (GAAP). A quantitative reconciliation of this information to the most directly comparable financial measure calculated and presented in accordance with GAAP can be found on our website at www.bp.com
Cautionary Note to US Investors:
We use certain terms in this presentation, such as “resources” and “non-proved reserves”, that the SEC’s rules prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262. This form is available on our website at www.bp.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or by logging on to their website at www.sec.gov.
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