Downstream

The execution of our strategy is delivering results and building a business that is fit for now and the future

Business model

The Downstream segment has global marketing and manufacturing operations. It is the product and service-led arm of BP, made up of three businesses.

Fuels

Includes refineries, logistic networks and fuels marketing businesses, which together with global oil supply and trading activities, make up our integrated fuels value chains (FVCs). We sell refined petroleum products including gasoline, diesel and aviation fuel, and have a significant presence in the convenience retail sector.

Lubricants

Manufactures and markets lubricants and related products and services to the automotive, industrial, marine and energy markets globally. We add value through brand, technology and relationships, such as collaboration with original equipment manufacturing partners.

Petrochemicals

Manufactures and markets products that are produced using industry-leading proprietary BP technology, and are then used by others to make essential consumer products such as food packaging, textiles and building  materials. We also license our technologies to third parties.

Strategy

We aim to run safe and reliable operations across all our businesses, supported by leading brands and technologies, to deliver high-quality products and services that meet our customers’ needs. Our strategy is to deliver underlying performance improvement in order to expand earnings and cash flow potential and improve our resilience to a range of market conditions. We also aim to further build competitively advantaged businesses. The execution of our strategy in 2017 has continued to deliver, with growth in underlying earnings and cash flow at attractive returns.

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refining availability

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fuels marketing earnings growth versus prior year

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convenience partnership sites

"The execution of our strategy is delivering results and building a business that is fit for now and the future. In 2017, we had our best year ever, with a replacement cost profit of $7.2 billion."

Tufan Erginbilgic
Chief executive, Downstream

Strategy

We aim to run safe and reliable operations across all our businesses, supported by leading brands and technologies, to deliver high-quality products and services that meet our customers’ needs. Our strategy is to deliver underlying performance improvement in order to expand earnings and cash flow potential and improve our resilience to a range of market conditions. We also aim to further build competitively advantaged businesses. The execution of our strategy in 2017 has continued to deliver, with growth in underlying earnings and cash flow at attractive returns.

Safe and reliable operations

This remains our core value and first priority and we continue to drive improvement in personal and process safety performance.

Advantaged manufacturing

We aim to have a competitively advantaged refining and petrochemicals portfolio underpinned by operational excellence and to grow earnings potential, making the businesses more resilient to margin volatility.

Profitable marketing growth

We invest in higher-returning fuels marketing and lubricants businesses with growth potential and reliable cash flows.

Simplification and efficiency

This remains central to what we do to support performance improvement and make our businesses even more competitive.

Transition to a lower carbon and digitally enabled future 

We are developing new products, offers and business models that support the transition to a lower carbon and digitally enabled future over the longer term.

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