First quarter 2010 results
Release date: 27 April 2010
Download the full version of our first quarter 2010 results using the link below.
Forward Looking Statements - Cautionary Statement:
This presentation and the associated slides and discussion contain forward-looking statements, particularly those regarding production, second quarter turn-around activities and the effect on volumes, costs and margins; our refining and petrochemical margins; second quarter Refining & Marketing turnaround activities; expected supply and trading contribution in the second quarter; organic capital expenditure; divestment proceeds and timing; dividend and availability of scrip dividend; expected underlying quarterly charges for Other business & corporate; capital efficiency generated by the centralized Developments Organization; longterm growth potential and access to high-margin barrels leveraged to the oil price through the Devon transaction and group 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; OPEC quota restrictions; PSA effects; 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. For more information you should refer to our Annual Report and Accounts 2009 and our 2009 Annual Report on Form 20-F filed with the US Securities and Exchange Commission.
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.
In this section