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Annual report 2017 cover image

We have successfully built a safer, more resilient and competitive BP: a distinctive business that is delivering sustainable value for investors.

4Q and full year 2018 results

Building business momentum, growing earnings and returns

BP’s full year results for 2018 show business momentum building with earnings more than doubling, returns nearly doubling, and reliability at record levels

 

We now have a powerful track record of safe and reliable performance, efficient execution and capital discipline. And we’re doing this while growing the business – bringing more high-quality projects online, expanding marketing in the Downstream and doing transformative deals such as BHP. Our strategy is clearly working and will serve the company and our shareholders well through the energy transition.
Bob Dudley Group chief executive

 

BP acquisition of BHP US onshore assets

East Texas F12 drill site

BP's purchase of  'world-class’ unconventional oil and gas assets from BHP is a move that upgrades and repositions its American onshore business.

 

Brian Gilvary, chief financial officer and Bernard Looney, chief executive, Upstream hosted a webcast to discuss the acquisition of a  portfolio includes assets in the highly-prized Permian-Delaware basin in Texas and two premium positions in the Eagle Ford and Haynesville basins in Texas and Louisiana.

BP strategy update 2018

Group chief executive Bob Dudley and members of the executive team provided a strategic update for the group 's progress on the medium to long-term strategy laid out in 2017. 

BP's strategy is underpinned by a strong suite of growth opportunities in our Upstream and Downstream businesses, and in due course in the area of Alternative Energy and other low carbon options.