Annual report

This document constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. for the year ended 31 December 2017. A cross reference to Form 20-F requirements is included on page 298.

This document contains the Strategic report on the inside front cover and pages 1-58 and the Directors' report on pages 59-89, 113-114, 191-218 and 247-296. The Strategic report and the Directors' report together include the management report required by DTR 4.1 of the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Directors' remuneration report is on pages 90-112. The consolidated financial statements of the group are on pages 115-190 and the corresponding reports of the auditor are on pages 116-124. The parent company financial statements of BP p.l.c. are on pages 219-245.

The Directors' statements (comprising the Statement of directors' responsibilities; Risk management and internal control; Longer-term viability; Going concern; and Fair, balanced and understandable), the independent auditor's report on the annual report and accounts to the members of BP p.l.c., the parent company financial statements of BP p.l.c. and corresponding auditor's report, a non-GAAP measure of operating cash flow excluding Gulf of Mexico oil spill payments in the tables on pages 18, 21, 22 and 25 do not form part of BP's Annual Report on Form 20-F as filed with the SEC.

BP Annual Report and Form 20-F 2017 may be downloaded from bp.com/annualreport. To obtain a hard printed copy of BP’s complete audited financial statements, free of charge, UK based investors should contact BP Distribution Services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com.

No material on the BP website, other than the items identified as BP Annual Report and Form 20-F 2017, forms any part of this document. References in this document to other documents on the BP website, such as BP Energy Outlook, BP Sustainability Report, BP Statistical Review of World Energy and BP Technology Outlook are included as an aid to their location and are not incorporated by reference into this document.

BP p.l.c. is the parent company of the BP group of companies. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. in 2001. Where we refer to the company, we mean BP p.l.c. Unless otherwise stated, the text does not distinguish between the activities and operations of the parent company and those of its subsidiaries, and information in this document reflects 100% of the assets and operations of the company and its subsidiaries that were consolidated at the date or for the periods indicated, including non-controlling interests.

BP's primary share listing is the London Stock Exchange. Ordinary shares are also traded on the Frankfurt Stock Exchange in Germany and, in the US, the company's securities are traded on the New York Stock Exchange (NYSE) in the form of ADSs (see page 280 for more details).

The term `shareholder' in this report means, unless the context otherwise requires, investors in the equity capital of BP p.l.c., both direct and indirect. As BP shares, in the form of ADSs, are listed on the NYSE, an Annual Report on Form 20-F is filed with the SEC. Ordinary shares are ordinary fully paid shares in BP p.l.c. of 25 cents each. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. of £1 each.