2008 reporting changes
Restatement of historical results following 2008 resegmentation
On 11 October 2007, we announced our intention to simplify the organizational structure of BP. From 1 January 2008, there are only two business segments – Exploration and Production and Refining and Marketing. A separate business, Alternative Energy, handles BP’s low-carbon businesses and future growth options outside oil and gas. This includes solar, wind, gas-fired power, hydrogen, biofuels and coal conversion.
As a result, and with effect from 1 January 2008:
As a result, and with effect from 1 January 2008:
- the Gas, Power and Renewables segment ceased to report separately
- the natural gas liquids, liquefied natural gas and gas and power marketing and trading businesses were transferred from the Gas, Power and Renewables segment to the Exploration and Production segment
- the Alternative Energy business was transferred from the Gas, Power and Renewables segment to Other businesses and corporate
- the Emerging Consumers Marketing Unit1 was transferred from Refining and Marketing to Alternative Energy (which is reported in Other businesses and corporate)
- the Biofuels business was transferred from Refining and Marketing to Alternative Energy (which is reported in Other business and corporate)
- the Shipping business was transferred from Refining and Marketing to Other businesses and corporate
As a result of the transfers identified above, Other businesses and corporate has been redefined. It now consists of the Alternative Energy business, corporate and functions and other business areas such as Aluminium and Shipping.
Financial information for 2004 to 2007 has been restated to reflect the transfers and is available to download. An excel version of the SEA provides quarterly data for 2006 and 2007 and the F&OI tables provide quarterly data for 2004 to 2007.
Financial information for 2004 to 2007 has been restated to reflect the transfers and is available to download. An excel version of the SEA provides quarterly data for 2006 and 2007 and the F&OI tables provide quarterly data for 2004 to 2007.
1This is a start-up venture that develops and markets progressive energy solutions targeted at low-income households. It includes operations in India, where we are marketing the "Oorja" biomass stove, and in South Africa where are piloting child-safe packaged paraffin.
