證券及交易委員會
華盛頓特區20549
6-K表格
外國發行人的報告
根據13a-16或15d-16條規則
1934年證券交易法案
截至2024年10月29日的時期
英國石油有限公司
(將註冊人的姓名翻譯成英文)
倫敦SW1Y 4PD 聖詹姆斯廣場1號，英國
(總部地址)
用勾號表示註冊申請者是否提交或將要提交年度報告
報告需以20-F表格或40-F表格進行保密發佈。
表格
20-F |X| 表格 40-F
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----------------
勾選示意
是否通過提供信息的方式進行登記
在這個表格中包含的信息也因此向
根據證券交易法規12g3-2(b)項規定的委託
1934.
是 否
|X|
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展品
1.1
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3Q24
2024年10月29日日期的海洋第1部分
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展覽 1.1
第一頁頂部
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立即發佈
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2024年10月29日倫敦
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BP有限公司集團業績
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2024年第三季度及九個月
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"如需打印友好版本的公告，請單擊下方鏈接以打開公告的PDF版本"
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專注於駕馭和提高效率；提供具有彈性的運營
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財務摘要
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第三
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第二
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第三
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第九
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第九
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季度
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季度
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季度
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個月
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個月
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百萬美元
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2024
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2024
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2023
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2024
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2023
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本期盈虧歸屬於BP股東
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206
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(129)
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4,858
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2,340
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14,868
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存貨持有（收益）損失*，稅後淨額
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906
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113
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(1,212)
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362
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(211)
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替代成本（RC）利潤（損失）*
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1,112
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(16)
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3,646
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2,702
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14,657
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調整項目對稅後影響的淨（有利）不利影響*，稅後
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1,155
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2,772
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(353)
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5,044
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(3,812)
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基礎RC利潤*
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2,267
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2,756
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3,293
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7,746
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10,845
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營運現金流*
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6,761
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8,100
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8,747
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19,870
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22,662
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資本支出*
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(4,542)
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(3,691)
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(3,603)
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(12,511)
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(11,542)
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剝離及其他收益(a)
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290
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760
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655
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1,463
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1,543
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股份淨髮行（回購）(b)
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(2,001)
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(1,751)
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(2,047)
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(5,502)
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(6,568)
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淨債務*(c)
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24,268
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22,614
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22,324
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24,268
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22,324
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調整後
EBITDA*
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9,654
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9,639
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10,306
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29,599
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33,142
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每普通股宣佈的股息（每股分）
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8.000
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8.000
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7.270
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23.270
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21.150
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每股普通股基礎RC利潤*（分）
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13.89
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16.61
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19.14
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46.79
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61.83
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每股ADS基礎RC利潤*（美元）
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0.83
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1.00
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1.15
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2.81
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3.71
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亮點
●
彈性
運營: 3季度24上游產量
2.4百萬桶油當量/日；3季度24煉油利用率95.6%。
●
專注和效率：努力實施，至少節省$20億可持續現金成本*。
●
增長與獲取： 簽署了兩份諒解備忘錄，加入SOCAR在阿塞拜疆近海兩個勘探開發區塊，並就柯爾庫克地域板塊進行重大綜合重建項目的磋商；在第四季度完成了bp邦吉生物能源和Lightsource bp交易。
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股東
分配： 每股普通股息爲8美分；作爲我們宣佈第3季度24年進行的股票回購的一部分，我們承諾在2024年下半年宣佈35億美元。
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自從我們今年早些時候制定了「燃料幣」更簡單、更專注、更高價值的六大業務重點以來，我們取得了重大進展。在石油和天然氣領域，我們看到了通過專注於價值而非成交量在未來十年內實現增長的潛力。我們對能源轉型所帶來的機遇深信不疑-我們已建立了多個領先地位，並將繼續提升我們的投資水平，以確保它們能與我們業務的其餘部分競爭。我非常清楚，我們正在採取的行動將提升燃料幣的價值。
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Murray Auchincloss
首席執行官
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a)
剝離
收益爲簡化集團現金流量表中的處置收益。 更多有關
其他收益的信息，請參閱第3頁。
b)
2024年第三季度和前九個月包括3億美元，以抵消員工股權計劃下的股票授予預期稀釋（2023年第三季度2億美元，2023年前九個月7億美元）。
c)
查看
有關Note 9更多信息。
RC利潤（損失），基礎RC利潤，淨債務，調整後的EBITDA，
每普通股基礎RC利潤和每ADS基礎RC利潤均爲非IFRS指標。庫存持有（收益）損失和
調整項目均爲非IFRS調整。
* 本文檔中標有星號的項目，定義請參閱第31頁的術語表。
第2頁頂部
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在第三季度，我們實現了23億美元的基礎替代成本盈利，同時繼續轉變我們的業務。
我們正在行動中提高效率，相信到2026年底，相對於2023年，我們至少可以實現20億美元的現金成本節省。我們的財務框架保持不變。今天，我們宣佈每股8美分的股息和17.5億美元的股票回購，作爲我們2024下半年35億美元承諾的一部分。
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Kate Thomson
致富金融(臨時代碼)官員
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亮點
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第3季度24RC盈利2.3億燃料幣
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本季度基礎RC盈利爲23億美元，較上一季度的28億美元有所下降。與2024年第二季度相比，基礎結果反映了較低的實現精煉利潤、疲弱的石油交易結果和較低的液體實現價格，部分抵消了天然氣實現價格的提高。本季度燃氣營銷和交易結果平均。本季度基礎有效稅率爲42%。
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本季度報告盈利爲2億美元，而2024年第二季度虧損1億美元。第三季度報告結果已經進行調整，考慮了12億美元的存貨跌價損失（稅前）和調整項目的16億美元（稅前）淨不利影響，才得出基礎RC盈利。調整項目稅前包括17億美元的減值（見注3）和0.4億美元的有利公允價值會計效應。有關調整項目的更多信息，請參閱第27頁。
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分部業績
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燃料幣和低碳能源：2024年第三季度RC的利息和稅前利潤爲10億美元，與上一季度的30億美元虧損相比。在調整了其它調整項目的淨不利影響之後，第三季度的RC利息和稅前利潤爲18億美元，而2024年第二季度爲14億美元。第三季度的利息和稅前利潤主要受到天然氣價格上漲的推動。天然氣營銷和交易結果處於平均水平。
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石油生產和運營：2024年第三季度RC的利息和稅前利潤爲19億美元，與上一季度的33億美元相比。在調整了其它調整項目的淨不利影響之後，第三季度的RC利息和稅前利潤爲28億美元，而2024年第二季度爲31億美元。第三季度的利息和稅前利潤反映出液體價格下跌，勘探開支增加。
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客戶和產品：2024年第三季度RC的利息和稅前利潤爲2300萬美元，而前一季度虧損1億美元。在調整了其它調整項目的淨不利影響之後，第三季度的RC利息和稅前利潤爲4億美元，而2024年第二季度爲11億美元。客戶的第三季度基本結果比去年增加了10億美元，主要反映燃料利潤率基本持平，季節性增加了銷量，部分抵消了成本。產品的第三季度基本結果減少了9億美元，主要是由於實現的精煉毛利較弱以及石油交易貢獻不足，低於第二季度。
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經營性現金流68億美元，淨債務243億美元
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當季經營性現金流爲68億美元。這包括14億美元的營運資本釋放（調整後考慮庫存持倉損失，公允價值會計效應和其他調整項目），反映了第一季度的營運資本構建的減少，價格環境的影響以及各種付款的時間安排。淨債務增加至243億美元，與第二季度相比，主要是由於經營性現金流下降，資本支出增加以及剝離和其他收益下降。
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在不變的財務框架內，分銷持續增長
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在嚴謹的財務框架內，bp的首要任務是維持一個彈性很強的股息，這受到每桶布倫特原油約40美元，每桶RMm原油11美元，每MMBtu亨利哈伯3美元的現金平衡點的支撐（全部基於2021年實際情況）。就第三季度而言，bp宣佈了每普通股8美分的股息。
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bp致力於保持強勁的資產負債表和強大的投資級信用評級。在整個經濟週期中，我們的目標是進一步改善 'A' 級信用範圍內的信用指標。
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bp在過渡增長引擎和油氣精煉業務中，繼續以紀律和回報爲重點的投資。
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第二季度業績公佈時宣佈的17.5億美元股票回購計劃於2024年10月25日完成。關於第三季度業績，石油公司計劃在報告第四季度業績之前進行175億美元的股票回購。此外，石油公司承諾在2024年第四季度宣佈175億美元的股票回購。另外，我們之前預計到2025年至少有140億美元的股票回購，以市場條件圍繞石油公司2023年第四季度業績爲基礎。(a)和
在保持強勁的投資級信用評級的前提下，目前仍然保持不變，但作爲2025年2月中期計劃更新的一部分，我們打算審查我們的財務指導方面，包括我們對2025年股票回購的預期。
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在確定每季度普通股股息和回購時，董事會將繼續考慮諸如現金盈餘的累積水平和前景、現金平衡點以及保持強勁的投資級信用評級等因素。
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(a)
2024年2月6日。
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上述評論包含前瞻性聲明，應與第37頁的警示性聲明一起閱讀。
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第3頁頂部
財務結果
除了第2頁上的亮點:
(b) 第三季度和前九個月，歸屬於bp股東的利潤分別爲0.2億美元和2.3億美元，相比之下，2023年同期的利潤分別爲49億美元和149億美元。
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調整後，歸屬於燃料幣股東的利潤中爲存貨持有損失或收益*和調整項目*的淨影響，第三季度和前九個月的底層替代成本（RC）利潤* 分別爲23億美元和77億美元，相比之下分別爲33億美元和108億美元 2023年同期。第三季度的底層RC利潤主要反映出與2023年同期非常強勁的結果相比較低的精煉利潤率和疲弱的石油交易貢獻。與2023年同期的強勁業績相比，季度的天然氣營銷和交易業績處於平均水平。在前九個月中，利潤的減少主要反映出較低的精煉利潤率、較低的天然氣營銷和交易業績、較低的石油交易貢獻和較低的實現，部分抵消了較低的稅收。
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調整第三季度和前九個月的項目對稅前影響分別爲1.6億美元和59億美元，分別與2023年同期的淨有利稅前影響0.5億美元和38億美元相比，差異明顯。
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調整項目包括公允價值會計影響*的影響，相對於管理層內部績效指標，第三季度的稅前影響有利$4億，前九個月的稅前影響不利$9億，與2023年同期的有利稅前影響$15億和$68億相比。這主要是由於2024年期間LNG的遠期價格上升，相比於2023年同期的下降。2024年第三季度還受到與混合債券相關的公允價值會計影響的有利影響的影響。
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2024年第三季度和前九個月的調整項目包括17億美元的資產減值前稅影響 分別爲37億美元和37億美元，與2023年同期的6億美元和18億美元的不利稅前影響相比 。2023年第三季度和前九個月包括一項5億美元的減值準備費，通過權益覈算收益確認，涉及美國近海風電項目
●
第三季度和九個月的實際稅率（ETR）分別爲51%和59%，相較於2023年同期的33%和32%。在排除調整項目的情況下，第三季度和九個月的基礎ETR*分別爲42%和40%，而去年同期分別爲33%和39%。第三季度較高的基礎ETR反映了利潤地理組合的變化，以及關於之前時期的調整的缺失。 RC利潤或損失的ETR和基礎ETR均爲非IFRS指標。
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第三季度和前九個月的經營現金流分別爲68億美元和199億美元，分別與2023年同期的87億美元和227億美元相比下降。第三季度的下降原因是基礎稅前利潤減少和較低的營運資本釋放，而前九個月的下降是由於基礎稅前利潤減少和營運資本建設部分抵消了較低的稅款。
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第三季度和九個月的資本支出分別爲45億美元和125億美元，分別與2023年同期的36億美元和115億美元相比。2024年第三季度和九個月包括針對德國近海風力的7億美元初期付款。2023年九個月包括對美國TravelCenters的11億美元收購。
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第三季度和前9個月的總剝離及其他收益分別爲$0.3億和$1.5億，與$0.7億和$1.5億相比。 2023年同期情況。
2024年第三季度沒有其他收益。2024年前9個月有$5億的收益，來自於出售在美國境外某受控關聯公司持有的某些中游資產的49%股權。2023年第三季度和前9個月的其他收益是來自於在美國境內某受控關聯公司持有的某些中游資產的49%股權，分別爲$5億。
●
截至第三季末，淨債務*爲243億美元，相比2024年第二季末的226億美元和2023年第三季末的223億美元，主要受較弱的實現精煉利潤和約10億美元的剝離收益重新分期的影響。
第4頁頂部
RC利潤（虧損）前利息、稅前，
與期間利潤（虧損）的調解分析
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第三
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第二
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第三
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第九
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第九
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季度
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季度
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季度
|
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個月
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個月
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百萬美元
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2024
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2024
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2023
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2024
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2023
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RC利潤（利潤）之前的利息和稅
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燃料幣
及低碳能源
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1,007
|
(315)
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2,275
|
|
1,728
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11,911
|
|
石油
生產與運營
|
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1,891
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3,267
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3,427
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8,218
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9,312
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客戶
及產品
|
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23
|
(133)
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1,549
|
|
878
|
4,784
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|
其他
業務及企業
|
|
653
|
(180)
|
(500)
|
|
173
|
(887)
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|
合併
調整-UPII*
|
|
65
|
(73)
|
(57)
|
|
24
|
(109)
|
|
RC利息前利潤
|
|
3,639
|
2,566
|
6,694
|
|
11,021
|
25,011
|
|
與養老金和其他退休福利相關的財務成本和淨財務費用
|
|
(1,059)
|
(1,176)
|
(978)
|
|
(3,269)
|
(2,622)
|
|
RC基礎上的稅收
|
|
(1,304)
|
(1,207)
|
(1,859)
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|
(4,541)
|
(7,156)
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|
少數股東權益
|
|
(164)
|
(199)
|
(211)
|
|
(509)
|
(576)
|
|
歸屬於英國石油股東的RC利潤（虧損）*
|
|
1,112
|
(16)
|
3,646
|
|
2,702
|
14,657
|
|
存貨持有盈利（損失）*
|
|
(1,182)
|
(136)
|
1,593
|
|
(467)
|
261
|
|
存貨持有盈利和損失的稅收（費用）抵免
|
|
276
|
23
|
(381)
|
|
105
|
(50)
|
|
本期盈虧歸屬於BP股東
|
|
206
|
(129)
|
4,858
|
|
2,340
|
14,868
|
分析利息前和稅前RC盈利（損失）
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
利息和稅前基礎盈利（虧損）
|
|
|
|
|
|
|
|
|
燃料幣
及低碳能源
|
|
1,756
|
1,402
|
1,256
|
|
4,816
|
6,945
|
|
石油
生產與運營
|
|
2,794
|
3,094
|
3,136
|
|
9,013
|
9,232
|
|
客戶
及產品
|
|
381
|
1,149
|
2,055
|
|
2,819
|
5,610
|
|
其他
業務及企業
|
|
231
|
(158)
|
(303)
|
|
(81)
|
(769)
|
|
整合
調整- UPII
|
|
65
|
(73)
|
(57)
|
|
24
|
(109)
|
|
利息和稅前基礎RC利潤
|
|
5,227
|
5,414
|
6,087
|
|
16,591
|
20,909
|
|
與養老金和其他退休福利相關的財務成本和淨財務費用
|
|
(1,001)
|
(971)
|
(882)
|
|
(2,914)
|
(2,303)
|
|
基礎RC基礎上的稅收
|
|
(1,795)
|
(1,488)
|
(1,701)
|
|
(5,422)
|
(7,185)
|
|
少數股東權益
|
|
(164)
|
(199)
|
(211)
|
|
(509)
|
(576)
|
|
歸屬於bp股東的基礎RC利潤*
|
|
2,267
|
2,756
|
3,293
|
|
7,746
|
10,845
|
將歸屬於BP股東的基礎RC利潤與最接近的IFRS指標進行了調和，集團的對應頁面爲第1頁，各業務板塊的對應頁面爲第6-14頁。
運營指標
|
運營指標
|
|
2024年前九個月
|
|
2024年前九個月與2023年前九個月對比
|
|
一級和二級過程安全事件*
|
|
35
|
|
+6
|
|
報告的可記錄傷害頻率*
|
|
0.286
|
|
+4.8%
|
|
上游*
生產(a)（每天萬桶油當量）
|
|
2,378
|
|
+3.0%
|
|
上游裝置生產成本*(b)（每桶油當量美元）
|
|
6.25
|
|
+6.3%
|
|
bp運營的上游工廠可靠性*
|
|
95.3%
|
|
-0.4
|
|
bp運營的煉油可用性*(a)
|
|
94.1%
|
|
-1.9
|
a)
請查看第6、9和11頁的運營更新。由於四捨五入，上游生產量可能與燃料幣和低碳能源以及石油生產與運營的總和不完全一致。
b)
主要反映投資組合的混合情況。
第5頁頂部
展望與指導
2024年第四季度指導意見
●
展望未來，英國石油預計2024年第四季度報告的上游生產將較2024年第三季度有所下降。
●
在其客戶業務中，BP預計與第三季度相比，季節性交易量較低，燃料利潤率仍將對供應成本的變動保持敏感。
●
在產品方面，BP預計第四季度實現的煉油利潤率將維持較低水平，儘管仍將繼續對產品裂縫的相對變動保持敏感。
2024年指導方針
除了第二頁的指導之外：
●
英國石油公司預計，與2023年相比，報告和基礎上游生產都將略有增加。在此之內，bp繼續預計，來自石油生產和運營的基礎生產量會增加，而來自燃料幣和低碳能源的生產量會減少。
●
在其客戶業務中，bp繼續預計從便利店等方面實現增長，其中包括travelcenters of america全年的貢獻；受重點市場成交量增長的推動，以及bp pulse由銷售更多能源推動的持續利潤增長。此外，bp預計燃料利潤率將繼續對供應成本敏感。嘉實在側重市場的成交量增長支撐下，並持續受到bp pulse由銷售更多能源推動的高利潤增長的助力。此外，bp預計燃料利潤率將繼續對供應成本敏感。
●
在產品方面，bp繼續預期行業煉油利潤較2023年低，實現利潤受北美重質原油價差變窄的影響。bp繼續預期2024年的煉油轉換活動對財務影響較2023年低，反映出較低的利潤環境。2024年的轉換活動分階段進行，並且重心在下半年，最大的影響在第四季度。
●
bp
現在預計2024年其他企業和企業基礎年度費用將爲$3-4億。
●
bp
預計折舊、耗竭和攤銷費用將略高於2023年。
●
bp
預計2024年的基礎ETR*仍將約爲40%
但其受到多種因素的影響，包括價格環境的波動
以及對集團利潤和損失地理結構的影響。
●
bp
預計2024年資本支出將達到約160億美元。
●
bp預計到2024年脫售和其他收入將超過30億美元。自2020年第二季度以來，bp 已實現了192億美元的脫售和其他收益，預計將在2020年下半年至2025年之間達到250億美元的脫售和其他收益。
●
在第四季度，BP完成了收購BP Bunge Bioenergia另外50%已發行普通股和Lightsource BP另外50.03%已發行普通股的交易（見註釋10），現在擁有這兩家公司100%的普通股。 從交易完成之日起，這兩家公司的全部收入將納入BP的業績中，並且預計收購的融資債務約爲37億美元。
●
英國石油公司繼續預計墨西哥灣的和解支付額度
今年預計將達到12億美元稅前，其中包括
第二季度支付的11億美元稅前。
BP預計在2025年2月發佈全年業績的同時更新我們的中期計劃。
|
上述評論包含前瞻性聲明，應與第37頁的警示性聲明一起閱讀。
|
第6頁頂部
燃料幣和低碳能源*
財務結果
●
第三季度和九個月的替換成本（RC）利潤（未計利息和稅前）分別爲$100,700萬和$172,800萬，而2023年同期分別爲$227,500萬和$1,191,100萬。第三季度和九個月分別受到淨調整項目*分別爲$7.49億和$308800萬的不利影響，而2023年同期淨調整項目的有利影響爲$101900萬和$496600萬。調整項目包括與管理層內部績效指標相關的公允價值會計效應*的影響，第三季度和九個月分別爲2024年個$2,7500萬和$11,7300萬的不利影響，而與2023年同期相比分別爲有利的$181600萬和$697200萬。根據IFRS規定，報道的盈利包括用於風險管理液化天然氣合同的對沖工具的按市價計、但不包括液化天然氣合同本身的市值。基礎結果除了包括對沖工具的按市價計外，也承認了液化天然氣合同價值的變化，這些合同是用於風險管理的。有關調整項目更多信息請參閱第27頁。
●
調整RC利潤（利息和稅前）以及調整項目後，第三季度和前九個月的基礎RC利潤（利息和稅前）分別爲$175600萬和$481600萬，與2023年同期的$125600萬和$694500萬相比。
●
與2023年同期相比，第三季度的利息稅前RC利潤反映出較低的折舊、減值及攤銷費用，部分抵消了較低的產量。與2023年第三季度相比，本季度的燃料幣營銷和交易業績處於平均水平。與2023年同期相比，前九個月的利息稅前RC利潤反映出較低的燃料幣營銷和交易業績、較低的實現收入、較低的產量、較高的勘探減值及第一季度的匯率期貨損失，部分抵消了較低的折舊、減值及攤銷費用。
運營更新
●
報告顯示本季度產量爲890mboe/d，比2023年同期下降了6.0%。潛在產量*較低4.0%，主要是由於基礎下降，部分被重大項目*部分抵消。
●
報告顯示，前九個月的產量爲901mboe/d，比2023年同期下降了4.1%。基礎產量下降了2.4%，主要是因爲績效下降部分抵消了重大項目的逐步增加。
●
可再生能源管道*在季度末達到了46.8GW（bp淨），其中包括20.5GW bp 淨份額的Lightsource bp（LSbp）的管道。可再生能源管道在經歷了高級別篩選和專注於氫能和碳捕集利用項目後，淨減少了11.5GW達月。此外，在LSbp的倉庫中，還有超過10GW（bp淨）的處於初期階段的機會。
戰略進展。
燃料幣
●
2024年1月，英國石油公司宣佈已完成收購德國能源公司GETEC ENERGIE GmbH，這家公司是德國商業與工業（C&I）客戶的主要能源供應商。該交易協議旨在加速英國石油公司在歐洲燃料幣和能源領域的增長。
●
8月27日，bp宣佈已與eog能源特立尼達有限公司(EOG)就椰子燃料幣開發達成協議。椰子將與eog作爲運營商-5g平分開發。合資公司合作伙伴已做出最終投資決定，首次燃料幣預計在2027年投產。
●
9月2日，英國石油公司宣佈已與Perenco T&t達成協議，出售特立尼達和多巴哥的四個成熟近海燃料幣田及相關生產設施（Immortelle、Flamboyant、Amherstia和Cashima）。該交易還將包括帕蘭格區域的未開發資源。在政府批准後，預計交易將於2024年底完成。
●
9月16日，bp宣佈已同意Apollo管理的基金購買bp管道TAP有限公司的非控股權，這家子公司持有跨阿德里亞管道股份的20%。 完成交易後，bp將繼續是bp管道TAP有限公司的控股股東。
低碳能源
●
9月12日，英國石油公司宣佈，英國石油公司和伊比德羅拉已經就在西班牙Castellón煉油廠建造一個25MW綠色氫能項目做出最終投資決定，預計於2026年下半年投入運營。該項目將由Castellón綠色氫能有限公司開發，這是英國石油公司和伊比德羅拉之間的一家50:50合資創業公司。
●
在9月16日，英國石油公司宣佈計劃出售其現有的美國陸上風能業務，並旨在通過Lightsource bp整合陸上可再生能源項目的開發。此次出售包括位於美國七個州的10個運營中的陸上風電場，總容量爲1.7GW（歸英國石油公司淨容量爲1.3GW）。
●
在10月24日，bp宣佈已完成收購太陽能和電池儲存資產運營商Lightsource bp剩餘50.03%股份的交易，Lightsource bp是全球主要的大型公用事業規模太陽能和電池儲存資產開發和運營商之一。
第7頁頂部
燃料幣和低碳能源（續）
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
利息和稅前利潤（損失）
|
|
1,007
|
(315)
|
2,275
|
|
1,728
|
11,912
|
|
存貨持有（收益）損失*
|
|
-
|
-
|
-
|
|
-
|
(1)
|
|
RC利潤（利潤）之前的利息和稅
|
|
1,007
|
(315)
|
2,275
|
|
1,728
|
11,911
|
|
調整項目淨（有利）不利影響
|
|
749
|
1,717
|
(1,019)
|
|
3,088
|
(4,966)
|
|
利息和稅前基礎RC利潤
|
|
1,756
|
1,402
|
1,256
|
|
4,816
|
6,945
|
|
基礎RC基礎上的稅收
|
|
(545)
|
(369)
|
(448)
|
|
(1,432)
|
(1,984)
|
|
利息前RC基本盈利
|
|
1,211
|
1,033
|
808
|
|
3,384
|
4,961
|
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
折舊、減值和攤銷費用
|
|
|
|
|
|
|
|
|
總折舊、減值和攤銷
|
|
1,180
|
1,209
|
1,543
|
|
3,682
|
4,390
|
|
|
|
|
|
|
|
|
|
|
勘探成本減記
|
|
|
|
|
|
|
|
|
勘探成本減記
|
|
1
|
28
|
15
|
|
232
|
13
|
|
|
|
|
|
|
|
|
|
|
調整後的EBITDA*
|
|
|
|
|
|
|
|
|
總調整後的EBITDA
|
|
2,937
|
2,639
|
2,814
|
|
8,730
|
11,348
|
|
|
|
|
|
|
|
|
|
|
資本支出*
|
|
|
|
|
|
|
|
|
燃料幣
|
|
1,188
|
869
|
833
|
|
2,696
|
2,177
|
|
低碳能源
|
|
908
|
136
|
222
|
|
1,703
|
778
|
|
總資本支出
|
|
2,096
|
1,005
|
1,055
|
|
4,399
|
2,955
|
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
(扣除版稅)(a)
|
|
|
|
|
|
|
|
|
液體* (每日百萬桶)
|
|
92
|
98
|
106
|
|
97
|
107
|
|
天然氣 (每日百萬立方英尺)
|
|
4,627
|
4,648
|
4,875
|
|
4,661
|
4,826
|
|
總碳氫化合物* (每日千桶油當量)
|
|
890
|
899
|
946
|
|
901
|
940
|
|
|
|
|
|
|
|
|
|
|
平均實現價格*(b)
|
|
|
|
|
|
|
|
|
液體（每桶）
|
|
74.80
|
79.92
|
76.69
|
|
77.23
|
76.51
|
|
天然氣（每千立方英尺）
|
|
5.80
|
5.47
|
5.38
|
|
5.57
|
6.11
|
|
總碳氫化合物（每桶油當量）
|
|
37.91
|
36.85
|
36.82
|
|
37.13
|
40.23
|
a)
在燃料幣和低碳能源領域，包括英國石油公司在權益覈算實體生產中所佔份額。
b)
認識基於僅有合併附屬公司的銷售額——這不包括股權股數計賬實體。
第8頁頁首
燃料幣和低碳能源（續）
|
|
|
30 九月
|
30 六月
|
30 九月
|
|
低碳能源(c)
|
|
2024
|
2024
|
2023
|
|
|
|
|
|
|
|
可再生能源（bp淨吉瓦）
|
|
|
|
|
|
已安裝可再生能源容量*
|
|
2.8
|
2.7
|
2.5
|
|
|
|
|
|
|
|
已開發的可再生能源至FID*
|
|
6.6
|
6.5
|
6.1
|
|
可再生能源項目管線
|
|
46.8
|
59.0
|
43.9
|
|
其中按地理區域劃分:
|
|
|
|
|
|
可再生能源
項目管道-美洲
|
|
17.8
|
18.4
|
18.4
|
|
可再生能源
項目管道-亞洲太平洋
|
|
12.9
|
21.5
|
12.1
|
|
可再生能源
項目管道-歐洲
|
|
15.4
|
15.5
|
13.4
|
|
可再生能源
項目管道-其他
|
|
0.7
|
3.5
|
-
|
|
其中按技術劃分:
|
|
|
|
|
|
可再生能源
項目管道-海上風電
|
|
9.6
|
9.6
|
9.3
|
|
可再生能源
項目管道-陸上風電
|
|
6.7
|
12.7
|
6.1
|
|
可再生能源
管道 - 太陽能
|
|
30.5
|
36.7
|
28.5
|
|
發展的可再生能源項目和可再生能源
管道
|
|
53.4
|
65.5
|
50.0
|
由於四捨五入，某些總數可能與其組成部分的總和略有出入。
第9頁頁首
油氣生產與運營
財務結果
●
第三季度和前九個月的維修成本（RC）利息和稅前利潤分別爲189100萬美元和821800萬美元，分別與2023年同期的342700萬美元和931200萬美元相比。第三季度和前九個月分別調整爲淨調整項目*不利影響分別爲9.03億美元和79500萬美元，相比之下2023年同期的淨調整項目影響有利影響分別爲29100萬美元和8,000萬美元。有關調整項目的更多信息請參閱第27頁。
●
調整RC利息和稅前利潤以及調整項目後，第三季度和九個月的基礎RC稅前利潤分別爲$279400萬和$901300萬，與2023年同期的$313600萬和$923200萬相比。
●
與2023年同期相比，第三季度和前九個月的RC利潤稅前利息，主要反映了折舊費用增加、成本更高、勘探減值部分抵銷、
以及成交量增加。
運營更新
●
報告的季度產量爲1,488mboe/d，比2023年第三季度高出7.7%。該季度的基礎產量*比2023年第三季度高出6.8%，反映了bpx能源的表現和一些主要項目*，部分抵消了基礎業績和墨西哥灣的不利天氣條件。
●
報告顯示，前九個月的產量爲1,477mboe/d，比2023年同期增長了7.8%。本季度的基礎產量相較於2023年前九個月增長了7.5%，反映了bpx能源表現和重大項目*部分抵消了基礎表現。
戰略進展
●
阿捷裏和奇拉格油田以及古納什利油田的深水部分（ACG）創業公司宣佈簽署了一份附錄，該附錄允許各方推動ACG油田非關聯天然氣儲量的勘探、評估、開發和生產（bp運營商擁有30.37%的股權）。
●
英國石油公司（bp）與阿塞拜疆國家石油公司（SOCAR）簽署了一份諒解備忘錄，宣佈bp有意加入SOCAR，在裏海的阿塞拜疆板塊中的兩個勘探和開發區塊。第一個區塊是卡拉巴赫油田，第二個區塊是阿什拉菲-丹烏爾杜茲-艾帕拉地區，其中包含一些現有的發現和前景構造。
●
繼在墨西哥灣Kaskida項目上做出最終投資決定後，英國石油與恩橋海上設施有限責任公司達成協議，建造、擁有和運營石油和燃料幣出口管道，將Kaskida的石油運輸至綠峽19號平台，將燃料幣運輸至路易斯安那市場。英國石油還與殼牌管道公司有限合作，通過新建管道將綠峽19號平台的石油運至路易斯安那市場。
●
BP已與伊拉克共和國政府簽署諒解備忘錄，就對基爾庫克地區進行重大綜合重建計劃進行談判，涵蓋石油和燃料幣投資、發電和太陽能，以及更廣泛的勘探活動。
●
Aker BP-石油生產已從Alvheim地區的Tyrving油田開始。 Tyrving由Aker BP（61.26%權益）運營。Tyrving開發是Alvheim油田壽命延長的一部分，預計將增加產量，同時降低單位成本，每桶僅0.3kg的CO2排放。2 每桶，每桶的排放量。 Tyrving中的可回收資源約爲2500萬桶等值原油（毛重）（bp在Aker BP持有15.9%的股份）
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
利息和稅前利潤
|
|
1,889
|
3,268
|
3,426
|
|
8,216
|
9,312
|
|
存貨持有（收益）損失*
|
|
2
|
(1)
|
1
|
|
2
|
-
|
|
RC利息前利潤
|
|
1,891
|
3,267
|
3,427
|
|
8,218
|
9,312
|
|
調整項目淨（有利）不利影響
|
|
903
|
(173)
|
(291)
|
|
795
|
(80)
|
|
利息和稅前基礎RC利潤
|
|
2,794
|
3,094
|
3,136
|
|
9,013
|
9,232
|
|
基礎RC基礎上的稅收
|
|
(1,259)
|
(1,171)
|
(1,386)
|
|
(3,939)
|
(4,565)
|
|
利息前RC基本盈利
|
|
1,535
|
1,923
|
1,750
|
|
5,074
|
4,667
|
第10頁頁首
石油生產和運營（續）
|
|
|
第三
|
第二
|
第三
|
|
九
|
九
|
|
|
|
25美分硬幣
|
25美分硬幣
|
25美分硬幣
|
|
月份
|
月份
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
折舊、損耗和攤銷
|
|
|
|
|
|
|
|
|
折舊、損耗和攤銷總額
|
|
1,708
|
1,698
|
1,432
|
|
5,063
|
4,129
|
|
|
|
|
|
|
|
|
|
|
勘探註銷
|
|
|
|
|
|
|
|
|
勘探註銷
|
|
309
|
99
|
59
|
|
411
|
352
|
|
|
|
|
|
|
|
|
|
|
調整後息折舊攤銷前利潤*
|
|
|
|
|
|
|
|
|
調整後 EBITDA 總額
|
|
4,811
|
4,891
|
4,627
|
|
14,487
|
13,713
|
|
|
|
|
|
|
|
|
|
|
資本支出*
|
|
|
|
|
|
|
|
|
資本支出總額
|
|
1,410
|
1,534
|
1,644
|
|
4,720
|
4,642
|
|
|
|
第三
|
第二
|
第三
|
|
九
|
九
|
|
|
|
25美分硬幣
|
25美分硬幣
|
25美分硬幣
|
|
月份
|
月份
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
製作 （扣除
特許權使用費）(a)
|
|
|
|
|
|
|
|
|
液體* (mb/d)
|
|
1,084
|
1,085
|
1,011
|
|
1,075
|
1,005
|
|
天然氣 (mmcf/d)
|
|
2,348
|
2,292
|
2,155
|
|
2,335
|
2,118
|
|
碳氫化合物總量* (mboe/d)
|
|
1,488
|
1,481
|
1,382
|
|
1,477
|
1,371
|
|
|
|
|
|
|
|
|
|
|
平均實現率*(b)
|
|
|
|
|
|
|
|
|
液體（美元/桶）
|
|
70.22
|
73.01
|
71.10
|
|
71.26
|
70.65
|
|
天然氣（美元/立方英尺）
|
|
2.25
|
2.02
|
3.44
|
|
2.32
|
4.37
|
|
碳氫化合物總量（美元/桶油）
|
|
53.65
|
55.78
|
56.76
|
|
54.51
|
57.86
|
a)
包括bp在石油生產與運營領域的股權覈算實體生產中的份額。
b)
認識基於僅有合併附屬公司的銷售額——這不包括股權股數計賬實體。
第11頁頂部
客戶和產品
財務結果
●
第三季度和九個月的替換成本（RC）利潤在利息和稅前分別爲2300萬美元和87800萬美元 分別爲154900萬美元和4,784百萬美元，與2023年同期相比 2023年同期的第三季度和九個月分別調整了淨調整項目*影響共3.58億美元和1,94100萬美元，主要涉及Gelsenkirchen煉油廠的減值和相關的重大合同條款，而2023年同期的淨調整項目影響分別爲5,0600萬美元和8,2600萬美元。詳情見第27頁有關調整項目的更多信息
●
調整RC未計息稅前利潤的調整項目後，第三季度和前九個月的基礎RC未計息稅前利潤*（基礎結果）分別爲38100萬美元和281900萬美元，與2023年相同時期的205500萬美元和561000萬美元相比。
●
第三季度的客戶及產品基礎業績明顯低於2023年同期，主要反映出較低的煉油利潤和弱勢的石油交易貢獻，相比去年同期非常強勁的業績，部分抵消了客戶業績較高。九個月的客戶及產品基礎業績明顯低於2023年同期，主要反映出較低的煉油利潤和較低的石油交易貢獻，部分抵消了客戶業績較高。
●
顧客 - 三季度和九個月的基礎業績比2023年同期更高，受益於較高的零售燃料利潤率，卡斯特羅爾（Castrol）業績更強勁，受到銷量和利潤率的推動，以及有利的匯率期貨變動。基礎業績在一定程度上被歐洲中游-腦機業績較弱，生物燃料利潤率下降，零售銷量減少以及美國貨運衰退持續對美國TravelCenters的影響所抵消。
●
產品第三季度和前九個月的產品基礎結果與2023年同期相比顯著下降。在煉油方面，第三季度的基礎業績主要受到較低的行業精煉利潤的影響，部分抵消了更高的商業優化。與去年同期非常強勁的業績相比，第三季度的油品交易貢獻較弱。前九個月的基礎業績較低，主要是由於較低的實現精煉利潤以及惠丁煉油廠第一季度發生的全廠範圍停電事件，部分抵消了停工活動的較低影響。前九個月的基礎油品交易業績低於去年同期。
運營更新
●
第三季度和九個月的BP操作的煉油可利用率分別爲95.6%和94.1%，與2023年同期的96.3%和96.0%相比，九個月的較低主要是由於威丁煉油廠第一季度的停電。
戰略進展。
●
今年7月，bp和Audi宣佈了一項新的戰略合作伙伴關係，其中包括bp開發國際汽聯定義的愛文思控股可持續燃料。(a)用於Audi的2026年進入賽車界以及Castrol爲Audi的V6渦輪發動機和電動機以及電池的潤滑劑和EV液體的開發。此合作還包括長期贊助，使bp成爲Audi未來Formula 1車隊的首席官方合作伙伴。
●
10月1日，邦吉全面接管了bp Bunge Bioenergia，這是巴西領先的生物燃料生產公司之一，能夠每天從甘蔗生產約5萬桶乙醇當量。
●
在前九個月內，EV充電點安裝量和售出的能源量分別增長了約20%和兩倍，相較於去年同期，能源銷售量現在超過1TWh。 bp繼續發展其全球充電網絡，在9月宣佈與美國私人擁有的LAZ停車運營商達成協議，共同開發、部署和運營超高速
(b)在印度，我們與信實合資成立的燃料和移動性創業公司Jio-bp，目前已在印度各地安裝了5000個充電點。
●
在第三季度，我們繼續加強我們爲美國消費者提供便利的服務，將我們最近推出的自有品牌產品種類擴大了50％以上史詩商品. 史詩商品是我們自家品牌的消費者包裝產品系列，在我們的商店中出售。此外，bp宣佈推出了earnify，一個旨在爲顧客提供無縫、一體化和有益體驗的忠誠計劃，包括購買零售店產品和燃油時提供獨家折扣，適用範圍覆蓋約5500家bpearnify一個旨在爲顧客提供無縫、一體化和有益體驗的忠誠計劃，包括購買零售店產品和燃油時提供獨家折扣，適用範圍覆蓋約5500家bpAmoco和
上午下午在美國各地的品牌店。
●
在第三季度，bp 的 Archaea 能源啓動了三個可再生天然氣（RNG）垃圾填埋場，總產能超過400萬 mmBtu/年，使得截至目前啓動的 RNG 垃圾填埋場總數達到七個，並預計今年將再啓動八座工廠。
a)
有關進一步詳情，請參閱2024年7月15日在bp.com發佈的新聞稿。
b)
"超快充電"
包括充電器容量≥150千瓦。
第12頁頂部
客戶與產品（續）
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
利息和稅前利潤（損失）
|
|
(1,157)
|
(270)
|
3,143
|
|
413
|
5,044
|
|
存貨持有（收益）損失*
|
|
1,180
|
137
|
(1,594)
|
|
465
|
(260)
|
|
RC利潤（利潤）之前的利息和稅
|
|
23
|
(133)
|
1,549
|
|
878
|
4,784
|
|
調整項目淨（有利）不利影響
|
|
358
|
1,282
|
506
|
|
1,941
|
826
|
|
利息和稅前基礎RC利潤
|
|
381
|
1,149
|
2,055
|
|
2,819
|
5,610
|
|
其中:(a)
|
|
|
|
|
|
|
|
|
顧客
- 便利性和移動性
|
|
897
|
790
|
670
|
|
2,057
|
1,762
|
|
Castrol - 包含在顧客中
|
|
216
|
211
|
185
|
|
611
|
517
|
|
產品
- 煉油和貿易
|
|
(516)
|
359
|
1,385
|
|
762
|
3,848
|
|
基礎RC基礎上的稅收
|
|
(67)
|
(125)
|
(167)
|
|
(525)
|
(1,215)
|
|
利息前RC基本盈利
|
|
314
|
1,024
|
1,888
|
|
2,294
|
4,395
|
a)
業務相關的RC利潤稅前利潤與利潤和稅前利潤相互調和已在第29頁提供。
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
調整後的EBITDA*(b)
|
|
|
|
|
|
|
|
|
顧客-便利性和機動性
|
|
1,410
|
1,281
|
1,151
|
|
3,545
|
3,032
|
|
Castrol-包含在顧客中
|
|
261
|
253
|
228
|
|
740
|
641
|
|
產品-精煉和貿易
|
|
(66)
|
807
|
1,819
|
|
2,120
|
5,184
|
|
|
|
1,344
|
2,088
|
2,970
|
|
5,665
|
8,216
|
|
|
|
|
|
|
|
|
|
|
折舊、減值和攤銷費用
|
|
|
|
|
|
|
|
|
總折舊、減值和攤銷
|
|
963
|
939
|
915
|
|
2,846
|
2,606
|
|
|
|
|
|
|
|
|
|
|
資本支出*
|
|
|
|
|
|
|
|
|
顧客 - 便利性和流動性
|
|
455
|
497
|
435
|
|
1,518
|
2,345
|
|
Castrol - 包含在顧客中
|
|
50
|
74
|
60
|
|
167
|
172
|
|
產品 - 精煉和貿易
|
|
476
|
548
|
367
|
|
1,578
|
1,305
|
|
總資本支出
|
|
931
|
1,045
|
802
|
|
3,096
|
3,650
|
b)
業務相關的RC利潤稅前利潤與利潤和稅前利潤相互調和已在第29頁提供。
第13頁頂部
客戶與產品（續）
|
零售(c)
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
零售站點* - 總數 (#)
|
|
21,200
|
21,200
|
21,150
|
|
21,200
|
21,150
|
|
戰略性
便利站點*
|
|
2,950
|
2,950
|
2,750
|
|
2,950
|
2,750
|
c)
報告到最接近的50。
|
精製產品的營銷銷售量（mb/d）
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
美國
|
|
1,240
|
1,271
|
1,280
|
|
1,197
|
1,212
|
|
歐洲
|
|
1,130
|
1,077
|
1,093
|
|
1,049
|
1,041
|
|
其它地區
|
|
457
|
462
|
474
|
|
463
|
469
|
|
|
|
2,827
|
2,810
|
2,847
|
|
2,709
|
2,722
|
|
成品交易/供應銷售
|
|
354
|
387
|
392
|
|
364
|
359
|
|
成品總銷售量
|
|
3,181
|
3,197
|
3,239
|
|
3,073
|
3,081
|
|
優化標記按金*
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
BP 平均煉油標記利潤率（$每桶）
|
|
16.5
|
20.6
|
31.8
|
|
19.2
|
28.2
|
|
煉油廠處理能力（mb/d）
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
美國
|
|
671
|
670
|
690
|
|
622
|
671
|
|
歐洲
|
|
769
|
722
|
760
|
|
774
|
773
|
|
煉油總吞吐量
|
|
1,440
|
1,392
|
1,450
|
|
1,396
|
1,444
|
|
bp經營的煉油可用率* (%)
|
|
95.6
|
96.4
|
96.3
|
|
94.1
|
96.0
|
第14頁頂部
其他企業和公司
其他企業和企業包括科技，bp風險投資，啓動器，地區，企業和解決方案，我們的企業活動和職能以及墨西哥灣石油泄漏的任何殘留成本。
財務結果
●
第三季度和前9個月的替換成本（RC）利潤在利息和稅前分別爲65300萬美元和17300萬美元，相比之下是2023年同期的損失分別爲50000萬美元和88700萬美元。第三季度和前9個月的調整是受到淨調整項目*的積極影響，分別爲42200萬美元和25400萬美元，相比之下是2023年同期的淨調整項目的不利影響分別是19700萬美元和11800萬美元。調整項目包括公允價值會計效應*的影響，2024年第一季度和前9個月的有利影響分別爲49400萬美元和27200萬美元，2023年同期的不利影響分別爲14600萬美元和有利影響爲5100萬美元。 2013年同期的信息，請參閱第27頁有關調整項目的更多信息。
●
調整RC稅前利潤利息費和調整項目後，第三季度和九個月的基本RC稅前利潤或虧損分別爲23100萬美元和8100萬美元，分別與2023年同期的3.03億美元和76900萬美元的虧損相比。
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
利息和稅前利潤（損失）
|
|
653
|
(180)
|
(500)
|
|
173
|
(887)
|
|
存貨持有（收益）損失*
|
|
-
|
-
|
-
|
|
-
|
-
|
|
RC利潤（利潤）之前的利息和稅
|
|
653
|
(180)
|
(500)
|
|
173
|
(887)
|
|
Net (favourable) adverse impact of adjusting
items(a)
|
|
(422)
|
22
|
197
|
|
(254)
|
118
|
|
利息和稅前基礎盈利（虧損）
|
|
231
|
(158)
|
(303)
|
|
(81)
|
(769)
|
|
基礎RC基礎上的稅收
|
|
(64)
|
3
|
162
|
|
38
|
201
|
|
利息前基本RC利潤（損失）
|
|
167
|
(155)
|
(141)
|
|
(43)
|
(568)
|
a)
包括涉及混合債券的公允價值會計影響。有關更多信息，請參閱第32頁。
第15頁頁首
基本報表
集團利潤表
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
|
|
|
|
|
|
|
|
|
銷售和其他營業收入（注5）
|
|
47,254
|
47,299
|
53,269
|
|
143,433
|
157,989
|
|
合營企業收益-利息和所得稅後
|
|
406
|
250
|
(198)
|
|
834
|
357
|
|
聯營企業收益-利息和所得稅後
|
|
280
|
266
|
271
|
|
844
|
675
|
|
利息和其他收入
|
|
438
|
414
|
410
|
|
1,233
|
1,036
|
|
出售企業和固定資產所得益
|
|
(48)
|
21
|
264
|
|
197
|
389
|
|
總收入和其他收入
|
|
48,330
|
48,250
|
54,016
|
|
146,541
|
160,446
|
|
購買
|
|
30,139
|
28,891
|
29,951
|
|
86,677
|
88,245
|
|
生產和製造費用
|
|
5,004
|
6,692
|
6,080
|
|
18,543
|
19,293
|
|
生產和類似稅
|
|
469
|
484
|
456
|
|
1,397
|
1,334
|
|
折舊、減值和攤銷費用（注6）
|
|
4,117
|
4,098
|
4,145
|
|
12,365
|
11,868
|
|
淨減值及出售企業和固定資產虧損（注3）
|
|
1,842
|
1,309
|
542
|
|
3,888
|
1,899
|
|
勘探費用
|
|
372
|
179
|
97
|
|
798
|
496
|
|
分銷和管理費用
|
|
3,930
|
4,167
|
4,458
|
|
12,319
|
12,039
|
|
利息和稅前利潤（虧損）
|
|
2,457
|
2,430
|
8,287
|
|
10,554
|
25,272
|
|
財務費用
|
|
1,101
|
1,216
|
1,039
|
|
3,392
|
2,802
|
|
養老金和其他發帖之類的淨財務收益（費用）
|
|
(42)
|
(40)
|
(61)
|
|
(123)
|
(180)
|
|
稅前利潤（虧損）
|
|
1,398
|
1,254
|
7,309
|
|
7,285
|
22,650
|
|
稅項
|
|
1,028
|
1,184
|
2,240
|
|
4,436
|
7,206
|
|
本期利潤（虧損）
|
|
370
|
70
|
5,069
|
|
2,849
|
15,444
|
|
歸屬於
|
|
|
|
|
|
|
|
|
點子
股東
|
|
206
|
(129)
|
4,858
|
|
2,340
|
14,868
|
|
非控股權益
|
|
164
|
199
|
211
|
|
509
|
576
|
|
|
|
370
|
70
|
5,069
|
|
2,849
|
15,444
|
|
|
|
|
|
|
|
|
|
|
每股收益（注7）
|
|
|
|
|
|
|
|
|
本期盈虧歸屬於BP股東
|
|
|
|
|
|
|
|
|
每普通股（分）
|
|
|
|
|
|
|
|
|
基本
|
|
1.26
|
(0.78)
|
28.24
|
|
14.19
|
84.77
|
|
稀釋的
|
|
1.23
|
(0.78)
|
27.59
|
|
13.83
|
82.99
|
|
每美國存托股（美元）
|
|
|
|
|
|
|
|
|
基本
|
|
0.08
|
(0.05)
|
1.69
|
|
0.85
|
5.09
|
|
稀釋的
|
|
0.07
|
(0.05)
|
1.66
|
|
0.83
|
4.98
|
第16頁頂部
綜合收益簡明集團報表
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
|
|
|
|
|
|
|
|
|
本期利潤（損失）
|
|
370
|
70
|
5,069
|
|
2,849
|
15,444
|
|
其他綜合收益
|
|
|
|
|
|
|
|
|
可能後續重新分類至利潤或損失的項目
|
|
|
|
|
|
|
|
|
貨幣
翻譯差異
|
|
838
|
(142)
|
(590)
|
|
248
|
(126)
|
|
交易所
（外國業務和固定資產的翻譯收益）重新分類爲出售企業和固定資產的收益或損失
|
|
-
|
-
|
(2)
|
|
-
|
(2)
|
|
現金流量套期保值和套期保值成本
|
|
(111)
|
(100)
|
(56)
|
|
(326)
|
434
|
|
歸屬於股權法下帳戶實體的份額，減稅額
|
|
(41)
|
10
|
25
|
|
(39)
|
(205)
|
|
可重新分類的項目所涉及的所得稅
|
|
91
|
40
|
(69)
|
|
127
|
(74)
|
|
|
|
777
|
(192)
|
(692)
|
|
10
|
27
|
|
不會重新分類至利潤或損失的項目
|
|
|
|
|
|
|
|
|
淨養老金和其他養老福利責任或資產的重估
|
|
(51)
|
(240)
|
(111)
|
|
(357)
|
(1,053)
|
|
股權投資的重估
|
|
(8)
|
(17)
|
-
|
|
(38)
|
-
|
|
隨後將轉入資產負債表的現金流量套期保值
|
|
10
|
-
|
(1)
|
|
7
|
(1)
|
|
與不會重新分類的項目相關的所得稅(a)
|
|
12
|
59
|
57
|
|
745
|
388
|
|
|
|
(37)
|
(198)
|
(55)
|
|
357
|
(666)
|
|
其他全面收益
|
|
740
|
(390)
|
(747)
|
|
367
|
(639)
|
|
總全面收益
|
|
1,110
|
(320)
|
4,322
|
|
3,216
|
14,805
|
|
歸屬於
|
|
|
|
|
|
|
|
|
bp
股東
|
|
922
|
(520)
|
4,140
|
|
2,705
|
14,241
|
|
非控股權益
|
|
188
|
200
|
182
|
|
511
|
564
|
|
|
|
1,110
|
(320)
|
4,322
|
|
3,216
|
14,805
|
a)
2024年第九個月包括針對英國授權剩餘付款稅收率從35%降至25%後，根據定義利益養老金計劃盈餘減少的遞延稅債務的6.58億美元貸款。
第17頁頁首
壓縮的股本變動表
|
|
|
分紅派息股東
|
少數股東權益
|
總計
|
|
|
百萬美元
|
|
股本
|
混合債券
|
其他利益
|
股本
|
|
2024年1月1日
|
|
70,283
|
13,566
|
1,644
|
85,493
|
|
|
|
|
|
|
|
|
總全面收益
|
|
2,705
|
470
|
41
|
3,216
|
|
分紅派息
|
|
(3,739)
|
-
|
(282)
|
(4,021)
|
|
現金
流量套期交易轉入資產負債表，稅後
|
|
(8)
|
-
|
-
|
(8)
|
|
回購普通股股本
|
|
(5,554)
|
-
|
-
|
(5,554)
|
|
股份支付，稅後
|
|
903
|
-
|
-
|
903
|
|
發行永續混合債券(a)
|
|
(4)
|
1,300
|
-
|
1,296
|
|
贖回永續混合債券，稅後(a)
|
|
9
|
(1,300)
|
-
|
(1,291)
|
|
永續混合債券的付款
|
|
-
|
(520)
|
-
|
(520)
|
|
涉及非控制股權的交易，扣除稅款
|
|
231
|
-
|
201
|
432
|
|
2024年9月30日
|
|
64,826
|
13,516
|
1,604
|
79,946
|
|
|
|
|
|
|
|
|
|
|
bp股東的
|
少數股東權益
|
總計
|
|
|
百萬美元
|
|
股本
|
混合債券
|
其他利息
|
股本
|
|
2023年1月1日
|
|
67,553
|
13,390
|
2,047
|
82,990
|
|
|
|
|
|
|
|
|
總全面收益
|
|
14,241
|
438
|
126
|
14,805
|
|
分紅派息
|
|
(3,598)
|
-
|
(326)
|
(3,924)
|
|
回購普通股資本
|
|
(6,666)
|
-
|
-
|
(6,666)
|
|
淨的股份支付，稅後
|
|
531
|
-
|
-
|
531
|
|
永續混合債券發行問題
|
|
(1)
|
163
|
-
|
162
|
|
永續混合債券支付
|
|
(5)
|
(494)
|
-
|
(499)
|
|
涉及非控股權益的交易，稅後淨額
|
|
363
|
-
|
(86)
|
277
|
|
截至2023年9月30日
|
|
72,418
|
13,497
|
1,761
|
87,676
|
a)
2024年第一季度，英國石油資本市場有限公司發行了13億美元的美元永續次級混合債券，票面利率在2034年之前的初始期間固定爲6.45%，並自願回購了2020年發行的面額13億美元的非看漲2025年到期的4.375%美元混合債券。這些交易總體上對淨債務或槓桿率沒有產生重大影響。
第18頁頂部
集團資產負債表
|
|
|
30 九月
|
12月31日
|
|
百萬美元
|
|
2024
|
2023
|
|
非流動資產
|
|
|
|
|
物業、廠房及設備
|
|
99,555
|
104,719
|
|
商譽
|
|
12,873
|
12,472
|
|
無形資產
|
|
10,626
|
9,991
|
|
對合資企業的投資
|
|
12,446
|
12,435
|
|
對聯營企業的投資
|
|
7,932
|
7,814
|
|
其他投資
|
|
1,340
|
2,189
|
|
固定資產
|
|
144,772
|
149,620
|
|
貸款
|
|
2,270
|
1,942
|
|
交易和其他應收款
|
|
2,270
|
1,767
|
|
衍生金融工具
|
|
11,849
|
9,980
|
|
預付款項
|
|
1,419
|
623
|
|
遞延所得稅資產
|
|
5,478
|
4,268
|
|
養老金計劃盈餘
|
|
7,968
|
7,948
|
|
|
|
176,026
|
176,148
|
|
流動資產
|
|
|
|
|
貸款
|
|
220
|
240
|
|
存貨
|
|
21,493
|
22,819
|
|
交易及其他應收款
|
|
26,133
|
31,123
|
|
衍生金融工具
|
|
6,358
|
12,583
|
|
預付款
|
|
1,149
|
2,520
|
|
流動稅金應收款
|
|
1,153
|
837
|
|
其他投資
|
|
167
|
843
|
|
現金及現金等價物
|
|
34,595
|
33,030
|
|
|
|
91,268
|
103,995
|
|
作爲可供出售的資產分類的資產（附註2）
|
|
2,414
|
151
|
|
|
|
93,682
|
104,146
|
|
總資產
|
|
269,708
|
280,294
|
|
流動負債
|
|
|
|
|
應付款項及其他應付款
|
|
54,385
|
61,155
|
|
衍生金融工具
|
|
3,762
|
5,250
|
|
應計費用
|
|
5,818
|
6,527
|
|
租賃負債
|
|
2,726
|
2,650
|
|
融資債務
|
|
4,484
|
3,284
|
|
應交稅費
|
|
1,706
|
2,732
|
|
撥備
|
|
4,106
|
4,418
|
|
|
|
76,987
|
86,016
|
|
與作爲待售資產分類的負債直接相關的負債（附註2）
|
|
32
|
62
|
|
|
|
77,019
|
86,078
|
|
非流動負債
|
|
|
|
|
其他應付款
|
|
9,063
|
10,076
|
|
衍生金融工具
|
|
12,303
|
10,402
|
|
應計
|
|
1,197
|
1,310
|
|
租賃負債
|
|
8,292
|
8,471
|
|
融資債務
|
|
52,986
|
48,670
|
|
遞延稅負債
|
|
8,950
|
9,617
|
|
撥備
|
|
14,649
|
14,721
|
|
確定福利養老金計劃和其他養老福利計劃
赤字
|
|
5,303
|
5,456
|
|
|
|
112,743
|
108,723
|
|
總負債
|
|
189,762
|
194,801
|
|
淨資產
|
|
79,946
|
85,493
|
|
非控制權益
|
|
|
|
|
股東權益
|
|
64,826
|
70,283
|
|
少數股東權益
|
|
15,120
|
15,210
|
|
總權益
|
|
79,946
|
85,493
|
第19頁頂部
精簡的組織現金流量表
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
營運活動
|
|
|
|
|
|
|
|
|
稅前利潤（虧損）
|
|
1,398
|
1,254
|
7,309
|
|
7,285
|
22,650
|
|
調整以將稅前利潤（損失）調節爲營運活動提供的淨現金
|
|
|
|
|
|
|
|
|
折舊、減值和攤銷以及勘探支出的計提和沖銷
|
|
4,427
|
4,225
|
4,219
|
|
13,008
|
12,233
|
|
處置業務和固定資產淨減值及（收益）損失
|
|
1,890
|
1,288
|
278
|
|
3,691
|
1,510
|
|
來自權益法覈算實體的收入，減去收到的分紅
|
|
(196)
|
19
|
421
|
|
(273)
|
391
|
|
利息及其他財務費用淨額，減去淨支付利息
|
|
324
|
524
|
136
|
|
1,040
|
301
|
|
基於股份的支付
|
|
278
|
507
|
298
|
|
946
|
519
|
|
養老金和其他養老福利的淨營運費用，減去未資助計劃的繳費和福利支付
|
|
(52)
|
(34)
|
(40)
|
|
(118)
|
(130)
|
|
計提淨額，減去支付額
|
|
(48)
|
764
|
(342)
|
|
33
|
(1,662)
|
|
存貨和其他流動資產以及非流動資產和負債的變動
|
|
1,798
|
1,556
|
(783)
|
|
1,223
|
(5,280)
|
|
所支付的所得稅
|
|
(3,058)
|
(2,003)
|
(2,749)
|
|
(6,965)
|
(7,870)
|
|
經營活動產生的淨現金流量
|
|
6,761
|
8,100
|
8,747
|
|
19,870
|
22,662
|
|
投資活動
|
|
|
|
|
|
|
|
|
在固定資產、土地、無形資產及其他資產上的支出
|
|
(4,223)
|
(3,463)
|
(3,456)
|
|
(11,404)
|
(10,038)
|
|
收購，扣除取得的現金淨額
|
|
(218)
|
(116)
|
(9)
|
|
(440)
|
(761)
|
|
對合資企業的投資
|
|
(76)
|
(95)
|
(102)
|
|
(524)
|
(692)
|
|
對聯營企業的投資
|
|
(25)
|
(17)
|
(36)
|
|
(143)
|
(51)
|
|
總現金資本支出
|
|
(4,542)
|
(3,691)
|
(3,603)
|
|
(12,511)
|
(11,542)
|
|
處置固定資產後的收益
|
|
16
|
35
|
59
|
|
117
|
102
|
|
處置企業後收到的款項，扣除已處置現金淨額
|
|
274
|
219
|
79
|
|
840
|
924
|
|
貸款償還所得款項
|
|
19
|
24
|
12
|
|
59
|
39
|
|
投資活動提供的現金
|
|
309
|
278
|
150
|
|
1,016
|
1,065
|
|
投資活動使用的淨現金
|
|
(4,233)
|
(3,413)
|
(3,453)
|
|
(11,495)
|
(10,477)
|
|
籌資活動
|
|
|
|
|
|
|
|
|
股份的淨髮行（回購）（附註7）
|
|
(2,001)
|
(1,751)
|
(2,047)
|
|
(5,502)
|
(6,568)
|
|
租賃償還負債
|
|
(703)
|
(679)
|
(663)
|
|
(2,076)
|
(1,838)
|
|
長期融資所得款項
|
|
2,401
|
2,736
|
8
|
|
7,396
|
6,046
|
|
長期融資償還款項
|
|
(956)
|
(623)
|
(264)
|
|
(2,253)
|
(3,891)
|
|
短期負債的淨增加（減少）
|
|
(73)
|
49
|
(71)
|
|
(8)
|
(948)
|
|
無固定期限混合債券的發行(a)
|
|
-
|
-
|
30
|
|
1,296
|
162
|
|
無固定期限混合債券的贖回(a)
|
|
-
|
-
|
-
|
|
(1,288)
|
-
|
|
與無固定期限混合債券相關的支付
|
|
(271)
|
(271)
|
(258)
|
|
(798)
|
(744)
|
|
支付
與非控股權益相關的交易有關的款項（其他權益）
|
|
-
|
-
|
-
|
|
-
|
(180)
|
|
收到
與非控股權益相關的交易有關的款項（其他權益）
|
|
(7)
|
508
|
527
|
|
517
|
536
|
|
BP股東支付的股息
|
|
(1,297)
|
(1,204)
|
(1,249)
|
|
(3,720)
|
(3,585)
|
|
- 非控股權益
|
|
(96)
|
(60)
|
(191)
|
|
(282)
|
(326)
|
|
融資活動提供的淨現金
|
|
(3,003)
|
(1,295)
|
(4,178)
|
|
(6,718)
|
(11,336)
|
|
與現金及現金等價物相關的貨幣兌換差異
|
|
179
|
(11)
|
(104)
|
|
(92)
|
(118)
|
|
現金及現金等價物的增加（減少）
|
|
(296)
|
3,381
|
1,012
|
|
1,565
|
731
|
|
期初現金及現金等價物
|
|
34,891
|
31,510
|
28,914
|
|
33,030
|
29,195
|
|
期末現金及現金等價物
|
|
34,595
|
34,891
|
29,926
|
|
34,595
|
29,926
|
a)
請參閱
資產負債表中關於股東權益變動的簡明陳述-腳註
(a)獲取更多信息。
第20頁頂部
票據
注1. 準備基礎
本報告中包含的中期財務信息已按照《國際財務報告準則第34號：中期財務報告》編制。
中期報表的結果尚未經審計，並且在管理層的意見中，已包括對每個期間結果進行公正呈現所需的所有調整。所有這些調整均屬於正常經常性質。本報告應與截至2023年12月31日的綜合財務報表及相關附註一起閱讀。英國石油公司
2023年年度報告和20-F表
BP根據國際財務報告準則(IFRS)、英國採納的IFRS以及歐盟與2006年英國公司法的規定，基於IASB發佈的IFRS，準備其在BP年度報告和20-F表中包含的合併基本報表。英國採納的IFRS與歐盟採納的IFRS並無不同。英國和歐盟採納的IFRS在某些方面與IASB發佈的IFRS有所不同。這些差異對所呈報期間的集團合併基本報表沒有影響。此處呈現的財務信息是根據預計用於編制BP年度報告和20-F 2024的會計政策編制的，這些會計政策與用於編制BP年度報告和20-F 2023的相同。
2024年7月，新的英國政府宣佈進一步修改 能源 利潤稅（自2024年11月1日起生效），包括稅率提高3%，延長至2030年3月31日，並取消了稅收主要投資津貼。2024年10月30日的秋季預算也可能宣佈對稅收目的的資本津貼申報施加進一步限制。這些修改目前尚未實質性生效，因此尚未應用於2024年第三季度的遞延所得稅會計。當這些修改實質性生效時，將反映在集團合併財務報表中。
自2024年1月1日起，尚未採納對財務信息有重大影響的新標準或業績解讀。
重大會計判斷和估計
BP披露了重要的會計判斷和估計
在BP
2023年年度報告和20-F表格。隨後，在本季度末考慮了這些，以判斷是否需要對這些判斷和估計進行任何更改。未發現重大變化。
注意2. 待售的非流動資產
截至2024年9月30日，分爲待售資產的賬面價值爲24.14億美元，相關負債爲3200萬美元，包括前一次剝離涉及的應收賬款的已達成銷售，在第四季度初獲得了貨幣化，並描述了已達成但尚未完成的剝離交易。
2024年2月14日，bp和ADNOC宣佈他們已經同意在埃及成立一個新的合資公司（JV）（bp持有51％，ADNOC持有49％）。作爲協議的一部分，bp將其在埃及的三個開發特許權益以及勘探協議轉讓給新的合資公司。ADNOC將進行相應的現金貢獻。在獲得監管批准和清算後，預計合資公司的成立將在2024年第四季度完成。到2024年9月30日，作爲待售資產分類的資產賬面價值爲14.53億美元，相關負債爲2300萬美元。
2023年11月16日，bp達成協議，將其在土耳其的地面燃料業務賣給了Petrol Ofisi。這包括公司在土耳其的三個合資燃料站的業務。銷售交易的完成需獲得監管批准，預計將在2024年第四季度完成。截至2024年9月30日，劃分爲待售資產的賬面價值爲1.07億美元，關聯負債爲0.9億美元。預計將有約9.5億美元的累計匯率期貨損失將在完成時轉回公司利潤表。
第21頁頁首
第三條。業務和固定資產減值和出售損失。
第三季度和前九個月的淨減值損失和出售企業和固定資產損失分別爲1,842億美元和3,888億美元，相比之下，2023年同期的淨支出分別爲542億美元和1,899億美元，其中包括第三季度和前九個月的淨減值損失分別爲1,730億美元和3,675億美元，相比之下，淨減值損失分別爲612億美元和1,779億美元。 相同時期在2023年。
燃料幣及低碳能源
2024年第三季度和前9個月的減值損失分別爲7.34億美元和18.59億美元，與2023年同期的2.24億美元和12.84億美元相比，主要來自燃料幣和低碳能源部門。2024年包括毛里塔尼亞和塞內加爾的金額，主要是由於預計未來支出增加而產生。該業務中現金生成單位的可收回金額基於使用價值計算。
石油生產與運營
2024年第三季度和前九個月的減值包括石油生產和運營部門的淨減值損失分別爲7.67億美元和9億美元，而2023年同期的淨損失分別爲1.42億美元和1.78億美元。2024年包括北海的減值金額。該業務內現金產生單位的可收回金額是基於使用價值計算。
客戶與產品
2024年第三季度和前九個月的減值包括淨減值金額分別爲2.23億美元和9.14億美元，相比之下，2023年同期客戶和產品部門的淨費用分別爲2.21億美元和2.47億美元。2024年包含德國相關金額，涉及蓋爾森基興煉油廠的審計。這個業務內現金產生單位的可收回金額是基於使用價值計算的。
注意事項 4. 利息和稅前替換成本利潤（損失）分析和與稅前盈利（虧損）的調和
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
燃料幣和低碳能源
|
|
1,007
|
(315)
|
2,275
|
|
1,728
|
11,911
|
|
油氣生產與運營
|
|
1,891
|
3,267
|
3,427
|
|
8,218
|
9,312
|
|
客戶和產品
|
|
23
|
(133)
|
1,549
|
|
878
|
4,784
|
|
其他企業和公司
|
|
653
|
(180)
|
(500)
|
|
173
|
(887)
|
|
|
|
3,574
|
2,639
|
6,751
|
|
10,997
|
25,120
|
|
整合調整 - UPII*
|
|
65
|
(73)
|
(57)
|
|
24
|
(109)
|
|
RC利潤（利潤）之前的利息和稅
|
|
3,639
|
2,566
|
6,694
|
|
11,021
|
25,011
|
|
存貨持有盈利（損失）*
|
|
|
|
|
|
|
|
|
燃料幣
及低碳能源
|
|
-
|
-
|
-
|
|
-
|
1
|
|
石油
生產與運營
|
|
(2)
|
1
|
(1)
|
|
(2)
|
-
|
|
客戶
及產品
|
|
(1,180)
|
(137)
|
1,594
|
|
(465)
|
260
|
|
利息和稅前利潤（損失）
|
|
2,457
|
2,430
|
8,287
|
|
10,554
|
25,272
|
|
財務費用
|
|
1,101
|
1,216
|
1,039
|
|
3,392
|
2,802
|
|
與養老金和其他福利相關的淨金融費用/(收入)
|
|
(42)
|
(40)
|
(61)
|
|
(123)
|
(180)
|
|
稅前利潤（虧損）
|
|
1,398
|
1,254
|
7,309
|
|
7,285
|
22,650
|
|
|
|
|
|
|
|
|
|
|
RC稅息前利潤（損失）*
|
|
|
|
|
|
|
|
|
美國
|
|
1,122
|
1,545
|
1,467
|
|
4,277
|
6,786
|
|
非美國
|
|
2,517
|
1,021
|
5,227
|
|
6,744
|
18,225
|
|
|
|
3,639
|
2,566
|
6,694
|
|
11,021
|
25,011
|
第22頁頂部
注意事項 5。銷售額和其他營業收入
|
|
|
第三
|
第二
|
第三
|
|
第九
|
第九
|
|
|
|
季度
|
季度
|
季度
|
|
個月
|
個月
|
|
百萬美元
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
按部門
|
|
|
|
|
|
|
|
|
燃料幣 & 低碳能源
|
|
8,526
|
5,809
|
10,313
|
|
23,010
|
38,627
|
|
油氣生產與運營
|
|
6,468
|
6,659
|
6,225
|
|
19,559
|
18,155
|
|
客戶和產品
|
|
38,437
|
41,100
|
42,908
|
|
119,432
|
119,841
|
|
其他企業和公司
|
|
614
|
526
|
672
|
|
1,746
|
2,000
|
|
|
|
54,045
|
54,094
|
60,118
|
|
163,747
|
178,623
|
|
|
|
|
|
|
|
|
|
|
減少：各業務部門間的銷售和其他營業收入
|
|
|
|
|
|
|
|
|
燃料幣及低碳能源
|
|
385
|
371
|
367
|
|
1,026
|
1,743
|
|
油氣生產與運營
|
|
5,860
|
5,982
|
5,747
|
|
17,755
|
17,244
|
|
客戶和產品
|
|
(138)
|
25
|
508
|
|
180
|
472
|
|
其他企業和公司
|
|
684
|
417
|
227
|
|
1,353
|
1,175
|
|
|
|
6,791
|
6,795
|
6,849
|
|
20,314
|
20,634
|
|
|
|
|
|
|
|
|
|
|
外部銷售和其他營業收入
|
|
|
|
|
|
|
|
|
燃料幣及低碳能源
|
|
8,141
|
5,438
|
9,946
|
|
21,984
|
36,884
|
|
油氣生產與運營
|
|
608
|
677
|
478
|
|
1,804
|
911
|
|
客戶和產品
|
|
38,575
|
41,075
|
42,400
|
|
119,252
|
119,369
|
|
其他企業和公司
|
|
(70)
|
109
|
445
|
|
393
|
825
|
|
總銷售額和其他營業收入
|
|
47,254
|
47,299
|
53,269
|
|
143,433
|
157,989
|
|
|
|
|
|
|
|
|
|
|
按地理區域
|
|
|
|
|
|
|
|
|
美國
|
|
19,388
|
20,340
|
22,032
|
|
59,586
|
61,257
|
|
非美國
|
|
36,712
|
36,832
|
43,382
|
|
112,752
|
128,224
|
|
|
|
56,100
|
57,172
|
65,414
|
|
172,338
|
189,481
|
|
減：各區域間的銷售和其他營業收入
|
|
8,846
|
9,873
|
12,145
|
|
28,905
|
31,492
|
|
|
|
47,254
|
47,299
|
53,269
|
|
143,433
|
157,989
|
|
|
|
|
|
|
|
|
|
|
與客戶的合同收入
|
|
|
|
|
|
|
|
|
銷售和其他營業收入包括以下內容，涉及與客戶的合同收入：
|
|
|
|
|
|
|
|
|
wti原油
|
|
618
|
538
|
496
|
|
1,704
|
1,653
|
|
石油產品
|
|
30,997
|
32,548
|
35,486
|
|
93,385
|
96,845
|
|
天然氣、液化天然氣和天然氣液化物
|
|
6,458
|
4,987
|
6,396
|
|
17,196
|
21,881
|
|
其他非石油產品和與客戶的其他收入
|
|
3,213
|
3,108
|
2,765
|
|
9,249
|
7,387
|
|
與客戶的合同收入
|
|
41,286
|
41,181
|
45,143
|
|
121,534
|
127,766
|
|
其他營業收入(a)
|
|
5,968
|
6,118
|
8,126
|
|
21,899
|
30,223
|
|
總銷售和其他營業收入
|
|
47,254
|
47,299
|
53,269
|
|
143,433
|
157,989
|
a)
Principally
relates to commodity derivative transactions including sales of bp
own production in trading books.
Top of page 23
Note 6. Depreciation, depletion and amortization
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Total depreciation, depletion and amortization by
segment
|
|
|
|
|
|
|
|
|
gas & low carbon energy
|
|
1,180
|
1,209
|
1,543
|
|
3,682
|
4,390
|
|
oil production & operations
|
|
1,708
|
1,698
|
1,432
|
|
5,063
|
4,129
|
|
customers & products
|
|
963
|
939
|
915
|
|
2,846
|
2,606
|
|
other businesses & corporate
|
|
266
|
252
|
255
|
|
774
|
743
|
|
|
|
4,117
|
4,098
|
4,145
|
|
12,365
|
11,868
|
|
Total depreciation, depletion and amortization by geographical
area
|
|
|
|
|
|
|
|
|
US
|
|
1,735
|
1,703
|
1,479
|
|
5,008
|
4,071
|
|
Non-US
|
|
2,382
|
2,395
|
2,666
|
|
7,357
|
7,797
|
|
|
|
4,117
|
4,098
|
4,145
|
|
12,365
|
11,868
|
Note 7. Earnings per share and shares in issue
Basic earnings per ordinary share (EpS) amounts are calculated by
dividing the profit (loss) for the period attributable to ordinary
shareholders by the weighted average number of ordinary shares
outstanding during the period. Against the authority granted at
bp's 2024 annual general meeting, 350 million ordinary shares
repurchased for cancellation were settled during the third quarter
2024 for a total cost of $2,001 million. A further
150 million ordinary shares were repurchased between the end
of the reporting period and the date when the financial statements
are authorised for issue for a total cost of $796 million. This
amount has been accrued at 30 September 2024. The number of shares
in issue is reduced when shares are repurchased, but is not reduced
in respect of the period-end commitment to repurchase shares
subsequent to the end of the period.
The calculation of EpS is performed separately for each discrete
quarterly period, and for the year-to-date period. As a result, the
sum of the discrete quarterly EpS amounts in any particular
year-to-date period may not be equal to the EpS amount for the
year-to-date period.
For the diluted EpS calculation the weighted average number of
shares outstanding during the period is adjusted for the number of
shares that are potentially issuable in connection with employee
share-based payment plans using the treasury stock
method.
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Results for the period
|
|
|
|
|
|
|
|
|
Profit (loss) for the period attributable to bp
shareholders
|
|
206
|
(129)
|
4,858
|
|
2,340
|
14,868
|
|
Less: preference dividend
|
|
-
|
1
|
-
|
|
1
|
1
|
|
Less: (gain) loss on redemption of perpetual hybrid
bonds(a)
|
|
-
|
-
|
-
|
|
(10)
|
-
|
|
Profit (loss) attributable to bp ordinary shareholders
|
|
206
|
(130)
|
4,858
|
|
2,349
|
14,867
|
|
|
|
|
|
|
|
|
|
|
Number of shares (thousand)(b)(c)
|
|
|
|
|
|
|
|
|
Basic
weighted average number of shares outstanding
|
|
16,321,349
|
16,590,173
|
17,204,488
|
|
16,553,408
|
17,537,170
|
|
ADS equivalent(d)
|
|
2,720,224
|
2,765,028
|
2,867,414
|
|
2,758,901
|
2,922,861
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of shares outstanding used to calculate diluted
earnings per share
|
|
16,709,108
|
16,590,173
|
17,609,601
|
|
16,980,519
|
17,914,383
|
|
ADS equivalent(d)
|
|
2,784,851
|
2,765,028
|
2,934,933
|
|
2,830,086
|
2,985,730
|
|
|
|
|
|
|
|
|
|
|
Shares in issue at period-end
|
|
16,155,806
|
16,491,420
|
17,061,004
|
|
16,155,806
|
17,061,004
|
|
ADS equivalent(d)
|
|
2,692,634
|
2,748,570
|
2,843,500
|
|
2,692,634
|
2,843,500
|
a)
See
Condensed group statement of changes in equity - footnote
(a) for further information.
b)
If
the inclusion of potentially issuable shares would decrease loss
per share, the potentially issuable shares are excluded from the
weighted average number of shares outstanding used to calculate
diluted earnings per share. The numbers of potentially issuable
shares that have been excluded from the calculation for the second
quarter 2024 are 374,406 thousand (ADS equivalent 62,401
thousand).
c)
Excludes
treasury shares and includes certain shares that will be issued in
the future under employee share-based payment plans.
d)
One
ADS is equivalent to six ordinary shares.
Top of page 24
Note 8. Dividends
Dividends payable
bp today announced an interim dividend of 8.000 cents per ordinary
share which is expected to be paid on 20 December 2024 to ordinary
shareholders and American Depositary Share (ADS) holders on the
register on 8 November 2024. The ex-dividend date will be 7
November 2024 for ordinary shareholders and 8 November 2024 for ADS
holders. The corresponding amount in sterling is due to be
announced on 5 December 2024, calculated based on the average of
the market exchange rates over three dealing days between 29
November 2024 and 3 December 2024. Holders of ADSs are expected to
receive $0.48 per ADS (less applicable fees). The board has decided
not to offer a scrip dividend alternative in respect of the third
quarter 2024 dividend. Ordinary shareholders and ADS holders
(subject to certain exceptions) will be able to participate in a
dividend reinvestment programme. Details of the third quarter
dividend and timetable are available at bp.com/dividends and
further details of the dividend reinvestment programmes are
available at bp.com/drip.
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Dividends paid per ordinary share
|
|
|
|
|
|
|
|
|
cents
|
|
8.000
|
7.270
|
7.270
|
|
22.540
|
20.490
|
|
pence
|
|
6.050
|
5.683
|
5.732
|
|
17.425
|
16.592
|
|
Dividends paid per ADS (cents)
|
|
48.00
|
43.62
|
43.62
|
|
135.24
|
122.94
|
Note 9. Net debt
|
Net debt*
|
|
30 September
|
30 June
|
30 September
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
Finance debt(a)
|
|
57,470
|
54,986
|
48,810
|
|
Fair value (asset) liability of hedges related to finance
debt(b)
|
|
1,393
|
2,519
|
3,440
|
|
|
|
58,863
|
57,505
|
52,250
|
|
Less: cash and cash equivalents
|
|
34,595
|
34,891
|
29,926
|
|
Net debt(c)
|
|
24,268
|
22,614
|
22,324
|
|
Total equity
|
|
79,946
|
82,199
|
87,676
|
|
Gearing*
|
|
23.3%
|
21.6%
|
20.3%
|
a)
The
fair value of finance debt at 30 September 2024 was
$54,324 million (30 June 2024 $50,677 million, 30 September
2023 $43,387 million).
b)
Derivative
financial instruments entered into for the purpose of managing
foreign currency exchange risk associated with net debt with a fair
value liability position of $123 million at 30 September
2024 (second quarter 2024 liability of $144 million and third
quarter 2023 liability of $102 million) are not included in
the calculation of net debt shown above as hedge accounting is not
applied for these instruments.
c)
Net
debt does not include accrued interest, which is reported within
other receivables and other payables on the balance sheet and for
which the associated cash flows are presented as operating cash
flows in the group cash flow statement.
Top of page 25
Note 10. Events after the reporting period
On 1 October 2024, the group acquired a further 50% of the issued
ordinary shares of bp Bunge Bioenergia and now owns 100% of the
ordinary shares. The transaction will be accounted for as a
business combination achieved in stages using the acquisition
method. Total consideration is estimated at $0.8 billion including
deferred consideration. Reported finance debt and cash acquired in
the transaction is expected to be approximately $0.7 billion and
$0.3 billion, respectively.
On 24 October 2024, the group acquired a further 50.03% of the
issued ordinary shares of Lightsource bp and now owns 100% of the
ordinary shares. The transaction will be accounted for as a
business combination achieved in stages using the acquisition
method. Total consideration is estimated at $0.5 billion including
deferred and contingent consideration. Reported finance debt and
cash acquired in the transaction is expected to be approximately
$3.0 billion and $0.3 billion, respectively.
Immediately prior to the business combination, 2.4GW of Lightsource
bp's operational and construction assets in the United States were
transferred from Lightsource bp into a new joint venture between bp
and the Lightsource bp founders, and certain management and staff.
bp will apply equity accounting to this investment for bp's
approximate 50% share.
As the above transactions have only recently completed, the initial
provisional purchase price allocations and the related measurement
of acquired asset and liability fair values, and accounting policy
alignments are ongoing.
Note 11. Statutory accounts
The financial information shown in this publication, which was
approved by the Board of Directors on 28 October 2024, is unaudited
and does not constitute statutory financial statements. Audited
financial information will be published in bp Annual Report and Form 20-F
2024. bp Annual Report and Form 20-F 2023 has been filed with the Registrar of
Companies in England and Wales. The report of the auditor on those
accounts was unqualified, did not include a reference to any
matters to which the auditor drew attention by way of emphasis
without qualifying the report and did not contain a statement under
section 498(2) or section 498(3) of the UK Companies Act
2006.
Top of page 26
Additional information
Capital expenditure*
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Capital expenditure
|
|
|
|
|
|
|
|
|
Organic capital expenditure*
|
|
4,341
|
3,586
|
3,597
|
|
11,906
|
10,325
|
|
Inorganic capital expenditure*(a)
|
|
201
|
105
|
6
|
|
605
|
1,217
|
|
|
|
4,542
|
3,691
|
3,603
|
|
12,511
|
11,542
|
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Capital expenditure by segment
|
|
|
|
|
|
|
|
|
gas & low carbon energy
|
|
2,096
|
1,005
|
1,055
|
|
4,399
|
2,955
|
|
oil production & operations
|
|
1,410
|
1,534
|
1,644
|
|
4,720
|
4,642
|
|
customers & products(a)
|
|
931
|
1,045
|
802
|
|
3,096
|
3,650
|
|
other businesses & corporate
|
|
105
|
107
|
102
|
|
296
|
295
|
|
|
|
4,542
|
3,691
|
3,603
|
|
12,511
|
11,542
|
|
Capital expenditure by geographical area
|
|
|
|
|
|
|
|
|
US
|
|
1,389
|
1,636
|
1,583
|
|
4,801
|
5,941
|
|
Non-US
|
|
3,153
|
2,055
|
2,020
|
|
7,710
|
5,601
|
|
|
|
4,542
|
3,691
|
3,603
|
|
12,511
|
11,542
|
(a)
Nine
months 2023 includes $1.1 billion, net of adjustments, in respect
of the TravelCenters of America acquisition.
Top of page 27
Adjusting items*
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
gas & low carbon energy
|
|
|
|
|
|
|
|
|
Gains on sale of businesses and fixed assets
|
|
19
|
8
|
-
|
|
29
|
16
|
|
Net impairment and losses on sale of businesses and fixed
assets(a)
|
|
(772)
|
(590)
|
(224)
|
|
(1,898)
|
(1,284)
|
|
Environmental and related provisions
|
|
-
|
-
|
-
|
|
-
|
-
|
|
Restructuring, integration and rationalization costs
|
|
(24)
|
-
|
(1)
|
|
(24)
|
-
|
|
Fair value accounting effects(b)(c)
|
|
(275)
|
(1,011)
|
1,816
|
|
(1,173)
|
6,972
|
|
Other(d)
|
|
303
|
(124)
|
(572)
|
|
(22)
|
(738)
|
|
|
|
(749)
|
(1,717)
|
1,019
|
|
(3,088)
|
4,966
|
|
oil production & operations
|
|
|
|
|
|
|
|
|
Gains on sale of businesses and fixed assets
|
|
(82)
|
7
|
246
|
|
109
|
352
|
|
Net impairment and losses on sale of businesses and fixed
assets(a)
|
|
(770)
|
(29)
|
(52)
|
|
(919)
|
(184)
|
|
Environmental and related provisions
|
|
(53)
|
195
|
99
|
|
65
|
6
|
|
Restructuring, integration and rationalization costs
|
|
(1)
|
-
|
-
|
|
(1)
|
(1)
|
|
Fair value accounting effects
|
|
-
|
-
|
-
|
|
-
|
-
|
|
Other
|
|
3
|
-
|
(2)
|
|
(49)
|
(93)
|
|
|
|
(903)
|
173
|
291
|
|
(795)
|
80
|
|
customers & products
|
|
|
|
|
|
|
|
|
Gains on sale of businesses and fixed assets
|
|
12
|
4
|
18
|
|
21
|
21
|
|
Net impairment and losses on sale of businesses and fixed
assets(a)
|
|
(295)
|
(678)
|
(242)
|
|
(1,069)
|
(361)
|
|
Environmental and related provisions
|
|
(4)
|
7
|
-
|
|
3
|
(11)
|
|
Restructuring, integration and rationalization costs
|
|
(39)
|
-
|
1
|
|
(38)
|
-
|
|
Fair value accounting effects(c)
|
|
157
|
25
|
(198)
|
|
38
|
(230)
|
|
Other(e)
|
|
(189)
|
(640)
|
(85)
|
|
(896)
|
(245)
|
|
|
|
(358)
|
(1,282)
|
(506)
|
|
(1,941)
|
(826)
|
|
other businesses & corporate
|
|
|
|
|
|
|
|
|
Gains on sale of businesses and fixed assets
|
|
3
|
-
|
-
|
|
35
|
-
|
|
Net impairment and losses on sale of businesses and fixed
assets
|
|
(6)
|
(11)
|
(23)
|
|
9
|
(60)
|
|
Environmental and related provisions
|
|
(8)
|
28
|
(8)
|
|
11
|
(39)
|
|
Restructuring, integration and rationalization costs
|
|
(50)
|
1
|
(3)
|
|
(38)
|
(13)
|
|
Fair value accounting effects(c)
|
|
494
|
(29)
|
(146)
|
|
272
|
51
|
|
Gulf of Mexico oil spill
|
|
(20)
|
(8)
|
(19)
|
|
(39)
|
(46)
|
|
Other
|
|
9
|
(3)
|
2
|
|
4
|
(11)
|
|
|
|
422
|
(22)
|
(197)
|
|
254
|
(118)
|
|
Total before interest and taxation
|
|
(1,588)
|
(2,848)
|
607
|
|
(5,570)
|
4,102
|
|
Finance costs(f)
|
|
(58)
|
(205)
|
(96)
|
|
(355)
|
(319)
|
|
Total before taxation
|
|
(1,646)
|
(3,053)
|
511
|
|
(5,925)
|
3,783
|
|
Taxation on adjusting items(g)
|
|
535
|
585
|
(158)
|
|
1,229
|
(203)
|
|
Taxation - tax rate change effect(h)
|
|
(44)
|
(304)
|
-
|
|
(348)
|
232
|
|
Total after taxation for period
|
|
(1,155)
|
(2,772)
|
353
|
|
(5,044)
|
3,812
|
(a)
See
Note 3 for further information.
(b)
Under
IFRS bp marks-to-market the value of the hedges used to risk-manage
LNG contracts, but not the contracts themselves, resulting in a
mismatch in accounting treatment. The fair value accounting effect
includes the change in value of LNG contracts that are being risk
managed, and the underlying result reflects how bp risk-manages its
LNG contracts.
(c)
For
further information, including the nature of fair value accounting
effects reported in each segment, see pages 3, 6 and
32.
(d)
Third
quarter and nine months 2023 include a $540 million impairment
charge recognized through equity-accounted earnings relating to US
offshore wind projects.
(e)
All
periods in 2024 include recognition of onerous contract provisions
related to the Gelsenkirchen refinery. The unwind of these
provisions will be reported as an adjusting item as the contractual
obligations are settled.
(f)
Includes
the unwinding of discounting effects relating to Gulf of Mexico oil
spill payables and the income statement impact of temporary
valuation differences associated with the group's interest rate and
foreign currency exchange risk management of finance debt. Nine
months 2023 also includes the income statement impact associated
with the buyback of finance debt. Third quarter and nine months
2024 also includes the unwinding of discounting effects relating to
certain onerous contract provisions.
(g)
Includes
certain foreign exchange effects on tax as adjusting items. These
amounts represent the impact of: (i) foreign exchange on deferred
tax balances arising from the conversion of local currency tax base
amounts into functional currency, and (ii) taxable gains and losses
from the retranslation of US dollar-denominated intra-group loans
to local currency.
(h)
Nine
months 2024 and nine months 2023 include revisions to the deferred
tax impact of the introduction of the UK Energy Profits Levy (EPL)
on temporary differences existing at 31 December 2022 that are
expected to unwind before 31 March 2028. The EPL increases the
headline rate of tax to 75% and applies to taxable profits from
bp's North Sea business made from 1 January 2023 until 31 March
2028. In July 2024 the new UK government announced further changes
to the EPL including a 3% increase in the rate and an extension to
31 March 2030, together with changes to investment allowances and
capital allowances. These changes have not yet been substantively
enacted and have therefore not been accounted for at 30 September
2024. The impacts will be reflected in the financial statements
when the changes are substantively enacted.
Top of page 28
Net debt including leases
|
Net debt including leases*
|
|
30 September
|
30 June
|
30 September
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
Net debt*
|
|
24,268
|
22,614
|
22,324
|
|
Lease liabilities
|
|
11,018
|
10,697
|
10,879
|
|
Net
partner (receivable) payable for leases entered into on behalf of
joint operations
|
|
(98)
|
(112)
|
(124)
|
|
Net debt including leases
|
|
35,188
|
33,199
|
33,079
|
|
Total
equity
|
|
79,946
|
82,199
|
87,676
|
|
Gearing including leases*
|
|
30.6%
|
28.8%
|
27.4%
|
Gulf of Mexico oil spill
|
|
|
30 September
|
31 December
|
|
$ million
|
|
2024
|
2023
|
|
Gulf of Mexico oil spill payables and provisions
|
|
(7,869)
|
(8,735)
|
|
Of
which - current
|
|
(1,115)
|
(1,133)
|
|
|
|
|
|
|
Deferred tax asset
|
|
1,192
|
1,320
|
During the second quarter 2024 pre-tax payments of $1,129 million
were made relating to the 2016 consent decree and settlement
agreement with the United States and the five Gulf coast states.
Payables and provisions presented in the table above reflect the
latest estimate for the remaining costs associated with the Gulf of
Mexico oil spill. Where amounts have been provided on an estimated
basis, the amounts ultimately payable may differ from the amounts
provided and the timing of payments is uncertain. Further
information relating to the Gulf of Mexico oil spill, including
information on the nature and expected timing of payments relating
to provisions and other payables, is provided
in bp
Annual Report and Form 20-F 2023 - Financial statements - Notes 7, 22,
23, 29, and 33.
Working capital* reconciliation
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Movements in inventories and other current and
non-current assets and liabilities as per condensed group cash flow
statement(a)
|
|
1,798
|
1,556
|
(783)
|
|
1,223
|
(5,280)
|
|
Adjusted for inventory holding gains (losses)* (Note
4)
|
|
(1,182)
|
(136)
|
1,593
|
|
(467)
|
261
|
|
Adjusted for fair value accounting effects* relating to
subsidiaries
|
|
319
|
(1,071)
|
1,443
|
|
(1,026)
|
6,738
|
|
Other adjusting items(b)
|
|
451
|
182
|
(300)
|
|
(201)
|
(1,040)
|
|
Working capital release (build) after adjusting for net inventory
gains (losses), fair value accounting effects and other adjusting
items
|
|
1,386
|
531
|
1,953
|
|
(471)
|
679
|
(a)
The movement in working capital
includes outflows relating to the Gulf of Mexico oil spill on a
pre-tax basis of $4 million and
$1,140 million in the third quarter and nine
months of 2024 respectively (second quarter 2024
$1,129 million, third quarter 2023 $6 million, nine
months 2023 $1,222 million).
(b)
Other
adjusting items relate to the non-cash movement of US emissions
obligations carried as a provision that will be settled by
allowances held as inventory.
Top of page 29
Adjusted earnings before interest, taxation, depreciation and
amortization (adjusted EBITDA)*
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Profit for the period
|
|
370
|
70
|
5,069
|
|
2,849
|
15,444
|
|
Finance costs
|
|
1,101
|
1,216
|
1,039
|
|
3,392
|
2,802
|
|
Net finance (income) expense relating to pensions and other
post-retirement benefits
|
|
(42)
|
(40)
|
(61)
|
|
(123)
|
(180)
|
|
Taxation
|
|
1,028
|
1,184
|
2,240
|
|
4,436
|
7,206
|
|
Profit before interest and tax
|
|
2,457
|
2,430
|
8,287
|
|
10,554
|
25,272
|
|
Inventory holding (gains) losses*, before tax
|
|
1,182
|
136
|
(1,593)
|
|
467
|
(261)
|
|
RC profit before interest and tax
|
|
3,639
|
2,566
|
6,694
|
|
11,021
|
25,011
|
|
Net (favourable) adverse impact of adjusting items*, before
interest and tax
|
|
1,588
|
2,848
|
(607)
|
|
5,570
|
(4,102)
|
|
Underlying RC profit before interest and tax
|
|
5,227
|
5,414
|
6,087
|
|
16,591
|
20,909
|
|
Add back:
|
|
|
|
|
|
|
|
|
Depreciation, depletion and amortization
|
|
4,117
|
4,098
|
4,145
|
|
12,365
|
11,868
|
|
Exploration expenditure written off
|
|
310
|
127
|
74
|
|
643
|
365
|
|
Adjusted EBITDA
|
|
9,654
|
9,639
|
10,306
|
|
29,599
|
33,142
|
Reconciliation of customers & products RC profit before
interest and tax to underlying RC profit before interest and tax*
to adjusted EBITDA* by business
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
$ million
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
RC profit before interest and tax for customers &
products
|
|
23
|
(133)
|
1,549
|
|
878
|
4,784
|
|
Less: Adjusting items* gains (charges)
|
|
(358)
|
(1,282)
|
(506)
|
|
(1,941)
|
(826)
|
|
Underlying RC profit before interest and tax for customers
& products
|
|
381
|
1,149
|
2,055
|
|
2,819
|
5,610
|
|
By business:
|
|
|
|
|
|
|
|
|
customers
- convenience & mobility
|
|
897
|
790
|
670
|
|
2,057
|
1,762
|
|
Castrol - included in customers
|
|
216
|
211
|
185
|
|
611
|
517
|
|
products
- refining & trading
|
|
(516)
|
359
|
1,385
|
|
762
|
3,848
|
|
|
|
|
|
|
|
|
|
|
Add back: Depreciation, depletion and amortization
|
|
963
|
939
|
915
|
|
2,846
|
2,606
|
|
By business:
|
|
|
|
|
|
|
|
|
customers
- convenience & mobility
|
|
513
|
491
|
481
|
|
1,488
|
1,270
|
|
Castrol - included in customers
|
|
45
|
42
|
43
|
|
129
|
124
|
|
products
- refining & trading
|
|
450
|
448
|
434
|
|
1,358
|
1,336
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA for customers & products
|
|
1,344
|
2,088
|
2,970
|
|
5,665
|
8,216
|
|
By business:
|
|
|
|
|
|
|
|
|
customers
- convenience & mobility
|
|
1,410
|
1,281
|
1,151
|
|
3,545
|
3,032
|
|
Castrol - included in customers
|
|
261
|
253
|
228
|
|
740
|
641
|
|
products
- refining & trading
|
|
(66)
|
807
|
1,819
|
|
2,120
|
5,184
|
Top of page 30
Realizations* and marker prices
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
Average realizations(a)
|
|
|
|
|
|
|
|
|
Liquids* ($/bbl)
|
|
|
|
|
|
|
|
|
US
|
|
63.31
|
65.88
|
63.95
|
|
63.83
|
62.44
|
|
Europe
|
|
75.45
|
80.55
|
90.76
|
|
80.44
|
80.59
|
|
Rest of World
|
|
80.79
|
83.58
|
78.34
|
|
81.39
|
80.05
|
|
bp average
|
|
70.68
|
73.73
|
71.85
|
|
71.89
|
71.40
|
|
Natural gas ($/mcf)
|
|
|
|
|
|
|
|
|
US
|
|
1.18
|
1.29
|
2.24
|
|
1.39
|
2.09
|
|
Europe
|
|
12.22
|
9.49
|
11.22
|
|
10.68
|
17.20
|
|
Rest of World
|
|
5.80
|
5.47
|
5.38
|
|
5.57
|
6.11
|
|
bp average
|
|
4.75
|
4.47
|
4.88
|
|
4.61
|
5.66
|
|
Total hydrocarbons* ($/boe)
|
|
|
|
|
|
|
|
|
US
|
|
42.18
|
44.26
|
45.39
|
|
42.65
|
43.77
|
|
Europe
|
|
74.03
|
73.21
|
80.61
|
|
74.73
|
87.43
|
|
Rest of World
|
|
47.57
|
47.49
|
45.61
|
|
47.22
|
48.73
|
|
bp average
|
|
46.81
|
47.49
|
47.28
|
|
46.91
|
49.47
|
|
Average oil marker prices ($/bbl)
|
|
|
|
|
|
|
|
|
Brent
|
|
80.34
|
84.97
|
86.75
|
|
82.79
|
82.07
|
|
West Texas Intermediate
|
|
75.28
|
80.82
|
82.54
|
|
77.71
|
77.36
|
|
Western Canadian Select
|
|
59.98
|
67.20
|
65.42
|
|
62.22
|
60.72
|
|
Alaska North Slope
|
|
78.95
|
86.42
|
87.95
|
|
82.24
|
81.74
|
|
Mars
|
|
74.20
|
81.37
|
82.99
|
|
77.50
|
76.80
|
|
Urals (NWE - cif)
|
|
70.10
|
72.79
|
73.62
|
|
70.39
|
58.20
|
|
Average natural gas marker prices
|
|
|
|
|
|
|
|
|
Henry Hub gas price(b) ($/mmBtu)
|
|
2.15
|
1.89
|
2.54
|
|
2.10
|
2.69
|
|
UK Gas - National Balancing Point (p/therm)
|
|
81.77
|
76.57
|
82.04
|
|
75.75
|
99.01
|
(a)
Based on sales of consolidated
subsidiaries only - this excludes equity-accounted
entities.
(b)
Henry
Hub First of Month Index.
Exchange rates
|
|
|
Third
|
Second
|
Third
|
|
Nine
|
Nine
|
|
|
|
quarter
|
quarter
|
quarter
|
|
months
|
months
|
|
|
|
2024
|
2024
|
2023
|
|
2024
|
2023
|
|
$/£ average rate for the period
|
|
1.30
|
1.26
|
1.27
|
|
1.28
|
1.24
|
|
$/£ period-end rate
|
|
1.34
|
1.27
|
1.22
|
|
1.34
|
1.22
|
|
|
|
|
|
|
|
|
|
|
$/€ average rate for the period
|
|
1.10
|
1.08
|
1.09
|
|
1.09
|
1.08
|
|
$/€ period-end rate
|
|
1.12
|
1.07
|
1.06
|
|
1.12
|
1.06
|
|
|
|
|
|
|
|
|
|
|
$/AUD average rate for the period
|
|
0.67
|
0.66
|
0.65
|
|
0.66
|
0.67
|
|
$/AUD period-end rate
|
|
0.69
|
0.67
|
0.64
|
|
0.69
|
0.64
|
|
|
|
|
|
|
|
|
|
Top of page 31
Legal proceedings
For a full discussion of the group's material legal proceedings,
see pages 242-243 of bp Annual Report and Form 20-F
2023.
Glossary
Non-IFRS measures are provided for investors because they are
closely tracked by management to evaluate bp's operating
performance and to make financial, strategic and operating
decisions. Non-IFRS measures are sometimes referred to as
alternative performance measures.
Adjusted EBITDA is a non-IFRS measure presented
for bp's operating segments and is defined as replacement cost (RC)
profit before interest and tax, excluding net adjusting items*
before interest and tax, and adding back depreciation, depletion
and amortization and exploration write-offs (net of adjusting
items). Adjusted EBITDA by business is a further analysis of
adjusted EBITDA for the customers & products businesses. bp
believes it is helpful to disclose adjusted EBITDA by operating
segment and by business because it reflects how the segments
measure underlying business delivery. The nearest equivalent
measure on an IFRS basis for the segment is RC profit or loss
before interest and tax, which is bp's measure of profit or loss
that is required to be disclosed for each operating segment under
IFRS. A reconciliation to IFRS information is provided on page 29
for the customers & products businesses.
Adjusted EBITDA for the group is defined as profit or loss for the
period, adjusting for finance costs and net finance (income) or
expense relating to pensions and other post-retirement benefits and
taxation, inventory holding gains or losses before tax, net
adjusting items before interest and tax, and adding back
depreciation, depletion and amortization (pre-tax) and exploration
expenditure written-off (net of adjusting items, pre-tax). The
nearest equivalent measure on an IFRS basis for the group is profit
or loss for the period. A reconciliation to IFRS information is
provided on page 29 for the group.
Adjusting items are items that bp discloses
separately because it considers such disclosures to be meaningful
and relevant to investors. They are items that management considers
to be important to period-on-period analysis of the group's results
and are disclosed in order to enable investors to better understand
and evaluate the group's reported financial performance. Adjusting
items include gains and losses on the sale of businesses and fixed
assets, impairments, environmental and related provisions and
charges, restructuring, integration and rationalization costs, fair
value accounting effects and costs relating to the Gulf of Mexico
oil spill and other items. Adjusting items within equity-accounted
earnings are reported net of incremental income tax reported by the
equity-accounted entity. Adjusting items are used as a reconciling
adjustment to derive underlying RC profit or loss and related
underlying measures which are non-IFRS measures. An analysis of
adjusting items by segment and type is shown on page
27.
Blue hydrogen - Hydrogen made from natural gas
in combination with carbon capture and storage
(CCS).
Capital expenditure is total cash capital expenditure
as stated in the condensed group cash flow statement. Capital
expenditure for the operating segments, gas & low carbon energy
businesses and customers & products businesses is presented on
the same basis.
Cash balance point is defined as the implied Brent
oil price 2021 real to balance bp's sources and uses of cash
assuming an average bp refining marker margin around $11/bbl and
Henry Hub at $3/mmBtu in 2021 real terms.
Cash costs is a non-IFRS measure and a
subset of production and manufacturing expenses plus distribution
and administration expenses and excludes costs that are classified
as adjusting items. They represent the substantial majority of the
remaining expenses in these line items but exclude certain costs
that are variable, primarily with volumes (such as freight costs).
Management believes that cash costs is a performance measure that
provides investors with useful information regarding the company's
financial performance because it considers these expenses to be the
principal operating and overhead expenses that are most directly
under their control although they also include certain foreign
exchange and commodity price effects.
Consolidation adjustment - UPII is unrealized profit in inventory
arising on inter-segment transactions.
Developed renewables to final investment decision
(FID) - Total generating capacity for
assets developed to FID by all entities where bp has an equity
share (proportionate to equity share at the time of FID). If asset
is subsequently sold bp will continue to record capacity as
developed to FID.
Divestment proceeds are disposal proceeds as per the
condensed group cash flow statement.
Effective tax rate (ETR) on replacement cost (RC) profit or
loss is a non-IFRS measure. The ETR on
RC profit or loss is calculated by dividing taxation on a RC basis
by RC profit or loss before tax. Taxation on a RC basis for the
group is calculated as taxation as stated on the group income
statement adjusted for taxation on inventory holding gains and
losses. Information on RC profit or loss is provided below. bp
believes it is helpful to disclose the ETR on RC profit or loss
because this measure excludes the impact of price changes on the
replacement of inventories and allows for more meaningful
comparisons between reporting periods. Taxation on a RC basis and
ETR on RC profit or loss are non-IFRS measures. The nearest
equivalent measure on an IFRS basis is the ETR on profit or loss
for the period.
Electric vehicle charge points / EV charge
points are defined as the number of
connectors on a charging device, operated by either bp or a bp
joint venture as adjusted to be reflective of bp's accounting share
of joint arrangements.
Top of page 32
Glossary (continued)
Fair value accounting effects are non-IFRS adjustments to our
IFRS profit (loss). They reflect the difference between the way bp
manages the economic exposure and internally measures performance
of certain activities and the way those activities are measured
under IFRS. Fair value accounting effects are included within
adjusting items. They relate to certain of the group's commodity,
interest rate and currency risk exposures as detailed below. Other
than as noted below, the fair value accounting effects described
are reported in both the gas & low carbon energy and customer
& products segments.
bp uses derivative instruments to manage the economic exposure
relating to inventories above normal operating requirements of
crude oil, natural gas and petroleum products. Under IFRS, these
inventories are recorded at historical cost. The related derivative
instruments, however, are required to be recorded at fair value
with gains and losses recognized in the income statement. This is
because hedge accounting is either not permitted or not followed,
principally due to the impracticality of effectiveness-testing
requirements. Therefore, measurement differences in relation to
recognition of gains and losses occur. Gains and losses on these
inventories, other than net realizable value provisions, are not
recognized until the commodity is sold in a subsequent accounting
period. Gains and losses on the related derivative commodity
contracts are recognized in the income statement, from the time the
derivative commodity contract is entered into, on a fair value
basis using forward prices consistent with the contract
maturity.
bp enters into physical commodity contracts to meet certain
business requirements, such as the purchase of crude for a refinery
or the sale of bp's gas production. Under IFRS these physical
contracts are treated as derivatives and are required to be fair
valued when they are managed as part of a larger portfolio of
similar transactions. Gains and losses arising are recognized in
the income statement from the time the derivative commodity
contract is entered into.
IFRS require that inventory held for trading is recorded at its
fair value using period-end spot prices, whereas any related
derivative commodity instruments are required to be recorded at
values based on forward prices consistent with the contract
maturity. Depending on market conditions, these forward prices can
be either higher or lower than spot prices, resulting in
measurement differences.
bp enters into contracts for pipelines and other transportation,
storage capacity, oil and gas processing, liquefied natural gas
(LNG) and certain gas and power contracts that, under IFRS, are
recorded on an accruals basis. These contracts are risk-managed
using a variety of derivative instruments that are fair valued
under IFRS. This results in measurement differences in relation to
recognition of gains and losses.
The way that bp manages the economic exposures described above, and
measures performance internally, differs from the way these
activities are measured under IFRS. bp calculates this difference
for consolidated entities by comparing the IFRS result with
management's internal measure of performance. We believe that
disclosing management's estimate of this difference provides useful
information for investors because it enables investors to see the
economic effect of these activities as a whole.
These include:
●
Under management's internal measure of performance the inventory,
transportation and capacity contracts in question are valued based
on fair value using relevant forward prices prevailing at the end
of the period.
●
Fair value accounting effects also include changes in the fair
value of the near-term portions of LNG contracts that fall within
bp's risk management framework. LNG contracts are not considered
derivatives, because there is insufficient market liquidity, and
they are therefore accrual accounted under IFRS. However, oil and
natural gas derivative financial instruments used to risk manage
the near-term portions of the LNG contracts are fair valued under
IFRS. The fair value accounting effect, which is reported in the
gas and low carbon energy segment, represents the change in value
of LNG contacts that are being risk managed and which is reflected
in the underlying result, but not in reported earnings. Management
believes that this gives a better representation of performance in
each period.
Furthermore, the fair values of derivative instruments used to risk
manage certain other oil, gas, power and other contracts, are
deferred to match with the underlying exposure. The commodity
contracts for business requirements are accounted for on an
accruals basis.
In addition, fair value accounting effects include changes in the
fair value of derivatives entered into by the group to manage
currency exposure and interest rate risks relating to hybrid bonds
to their respective first call periods. The hybrid bonds which
were issued on 17 June 2020 are classified as equity
instruments and were recorded in the balance sheet at that date at
their USD equivalent issued value. Under IFRS these equity
instruments are not remeasured from period to period, and do not
qualify for application of hedge accounting. The derivative
instruments relating to the hybrid bonds, however, are required to
be recorded at fair value with mark to market gains and losses
recognized in the income statement. Therefore, measurement
differences in relation to the recognition of gains and losses
occur. The fair value accounting effect, which is reported in the
other businesses & corporate segment, eliminates the fair value
gains and losses of these derivative financial instruments that are
recognized in the income statement. We believe that this gives
a better representation of performance, by more appropriately
reflecting the economic effect of these risk management activities,
in each period.
Gas & low carbon energy segment comprises our gas and low
carbon businesses. Our gas business includes regions with upstream
activities that predominantly produce natural gas, integrated gas
and power, and gas trading. Our low carbon business includes solar,
offshore and onshore wind, hydrogen and CCS and power trading.
Power trading includes trading of both renewable and non-renewable
power.
Top of page 33
Glossary (continued)
Gearing and net debt are non-IFRS measures. Net debt
is calculated as finance debt, as shown in the balance sheet, plus
the fair value of associated derivative financial instruments that
are used to hedge foreign currency exchange and interest rate risks
relating to finance debt, for which hedge accounting is applied,
less cash and cash equivalents. Net debt does not include accrued
interest, which is reported within other receivables and other
payables on the balance sheet and for which the associated cash
flows are presented as operating cash flows in the group cash flow
statement. Gearing is defined as the ratio of net debt to the total
of net debt plus total equity. bp believes these measures provide
useful information to investors. Net debt enables investors to see
the economic effect of finance debt, related hedges and cash and
cash equivalents in total. Gearing enables investors to see how
significant net debt is relative to total equity. The derivatives
are reported on the balance sheet within the headings 'Derivative
financial instruments'. The nearest equivalent measures on an IFRS
basis are finance debt and finance debt ratio. A reconciliation of
finance debt to net debt is provided on page
24.
We are unable to present reconciliations of forward-looking
information for net debt or gearing to finance debt and total
equity, because without unreasonable efforts, we are unable to
forecast accurately certain adjusting items required to present a
meaningful comparable IFRS forward-looking financial measure. These
items include fair value asset (liability) of hedges related to
finance debt and cash and cash equivalents, that are difficult to
predict in advance in order to include in an IFRS
estimate.
Gearing including leases and net debt including
leases are non-IFRS measures. Net debt
including leases is calculated as net debt plus lease liabilities,
less the net amount of partner receivables and payables relating to
leases entered into on behalf of joint operations. Gearing
including leases is defined as the ratio of net debt including
leases to the total of net debt including leases plus total equity.
bp believes these measures provide useful information to investors
as they enable investors to understand the impact of the group's
lease portfolio on net debt and gearing. The nearest equivalent
measures on an IFRS basis are finance debt and finance debt ratio.
A reconciliation of finance debt to net debt including leases is
provided on page 28.
Green hydrogen - Hydrogen produced by
electrolysis of water using renewable power.
Hydrocarbons - Liquids and natural gas.
Natural gas is converted to oil equivalent at 5.8 billion cubic
feet = 1 million barrels.
Hydrogen pipeline - Hydrogen projects which have
not been developed to final investment decision (FID) but which
have advanced to the concept development stage.
Inorganic capital expenditure is a subset of capital
expenditure on a cash basis and a non-IFRS measure. Inorganic
capital expenditure comprises consideration in business
combinations and certain other significant investments made by the
group. It is reported on a cash basis. bp believes that this
measure provides useful information as it allows investors to
understand how bp's management invests funds in projects which
expand the group's activities through acquisition. The nearest
equivalent measure on an IFRS basis is capital expenditure on a
cash basis. Further information and a reconciliation to IFRS
information is provided on page 26.
Installed renewables capacity is bp's share of capacity for
operating assets owned by entities where bp has an equity
share.
Inventory holding gains and losses are non-IFRS adjustments to our
IFRS profit (loss) and represent:
●
the difference between the cost of sales calculated using the
replacement cost of inventory and the cost of sales calculated on
the first-in first-out (FIFO) method after adjusting for any
changes in provisions where the net realizable value of the
inventory is lower than its cost. Under the FIFO method, which we
use for IFRS reporting of inventories other than for trading
inventories, the cost of inventory charged to the income statement
is based on its historical cost of purchase or manufacture, rather
than its replacement cost. In volatile energy markets, this can
have a significant distorting effect on reported income. The
amounts disclosed as inventory holding gains and losses represent
the difference between the charge to the income statement for
inventory on a FIFO basis (after adjusting for any related
movements in net realizable value provisions) and the charge that
would have arisen based on the replacement cost of inventory. For
this purpose, the replacement cost of inventory is calculated using
data from each operation's production and manufacturing system,
either on a monthly basis, or separately for each transaction where
the system allows this approach; and
●
an adjustment relating to certain trading inventories that are not
price risk managed which relate to a minimum inventory volume that
is required to be held to maintain underlying business activities.
This adjustment represents the movement in fair value of the
inventories due to prices, on a grade by grade basis, during the
period. This is calculated from each operation's inventory
management system on a monthly basis using the discrete monthly
movement in market prices for these inventories.
The amounts disclosed are not separately reflected in the financial
statements as a gain or loss. No adjustment is made in respect of
the cost of inventories held as part of a trading position and
certain other temporary inventory positions that are price
risk-managed. See Replacement cost (RC) profit or loss definition
below.
Liquids -
Liquids comprises crude oil, condensate and natural gas liquids.
For the oil production & operations segment, it also includes
bitumen.
Low carbon activity - An activity relating to low
carbon including: renewable electricity; bioenergy; electric
vehicles and other future mobility solutions; trading and marketing
low carbon products; blue or green hydrogen* and carbon capture,
use and storage (CCUS).
Note that, while there is some overlap of activities, these terms
do not mean the same as bp's strategic focus area of low carbon
energy or our low carbon energy sub-segment, reported within the
gas & low carbon energy segment.
Top of page 34
Glossary (continued)
Major projects have a bp net investment of at
least $250 million, or are considered to be of strategic importance
to bp or of a high degree of complexity.
Operating cash flow is net cash provided by (used in)
operating activities as stated in the condensed group cash flow
statement.
Organic capital expenditure is a non-IFRS measure. Organic
capital expenditure comprises capital expenditure on a cash basis
less inorganic capital expenditure. bp believes that this measure
provides useful information as it allows investors to understand
how bp's management invests funds in developing and maintaining the
group's assets. The nearest equivalent measure on an IFRS basis is
capital expenditure on a cash basis and a reconciliation to IFRS
information is provided on page 26.
We are unable to present reconciliations of forward-looking
information for organic capital expenditure to total cash capital
expenditure, because without unreasonable efforts, we are unable to
forecast accurately the adjusting item, inorganic capital
expenditure, that is difficult to predict in advance in order to
derive the nearest IFRS estimate.
Production-sharing agreement/contract (PSA/PSC) is an arrangement through which
an oil and gas company bears the risks and costs of exploration,
development and production. In return, if exploration is
successful, the oil company receives entitlement to variable
physical volumes of hydrocarbons, representing recovery of the
costs incurred and a stipulated share of the production remaining
after such cost recovery.
Realizations are the result of dividing
revenue generated from hydrocarbon sales, excluding revenue
generated from purchases made for resale and royalty volumes, by
revenue generating hydrocarbon production volumes. Revenue
generating hydrocarbon production reflects the bp share of
production as adjusted for any production which does not generate
revenue. Adjustments may include losses due to shrinkage, amounts
consumed during processing, and contractual or regulatory host
committed volumes such as royalties. For the gas & low carbon
energy and oil production & operations segments, realizations
include transfers between businesses.
Refining availability represents Solomon Associates'
operational availability for bp-operated refineries, which is
defined as the percentage of the year that a unit is available for
processing after subtracting the annualized time lost due to
turnaround activity and all planned mechanical, process and
regulatory downtime.
The Refining
marker margin (RMM) is the average of regional
indicator margins weighted for bp's crude refining capacity in each
region. Each regional marker margin is based on product yields and
a marker crude oil deemed appropriate for the region. The regional
indicator margins may not be representative of the margins achieved
by bp in any period because of bp's particular refinery
configurations and crude and product slate.
Renewables pipeline - Renewable projects satisfying
the following criteria until the point they can be considered
developed to final investment decision (FID): Site based projects
that have obtained land exclusivity rights, or for power purchase
agreement based projects an offer has been made to the
counterparty, or for auction projects pre-qualification criteria
has been met, or for acquisition projects post a binding offer
being accepted.
Replacement cost (RC) profit or loss / RC profit or loss
attributable to bp shareholders reflects the replacement cost of
inventories sold in the period and is calculated as profit or loss
attributable to bp shareholders, adjusting for inventory holding
gains and losses (net of tax). RC profit or loss for the group is
not a recognized IFRS measure. bp believes this measure is useful
to illustrate to investors the fact that crude oil and product
prices can vary significantly from period to period and that the
impact on our reported result under IFRS can be significant.
Inventory holding gains and losses vary from period to period due
to changes in prices as well as changes in underlying inventory
levels. In order for investors to understand the operating
performance of the group excluding the impact of price changes on
the replacement of inventories, and to make comparisons of
operating performance between reporting periods, bp's management
believes it is helpful to disclose this measure. The nearest
equivalent measure on an IFRS basis is profit or loss attributable
to bp shareholders. A reconciliation to IFRS information is
provided on page 1. RC profit or loss before interest and tax is
bp's measure of profit or loss that is required to be disclosed for
each operating segment under IFRS.
Reported recordable injury frequency measures the number of reported
work-related employee and contractor incidents that result in a
fatality or injury per 200,000 hours worked. This represents
reported incidents occurring within bp's operational HSSE reporting
boundary. That boundary includes bp's own operated facilities and
certain other locations or situations. Reported incidents are
investigated throughout the year and as a result there may be
changes in previously reported incidents. Therefore comparative
movements are calculated against internal data reflecting the final
outcomes of such investigations, rather than the previously
reported comparative period, as this represents a more up to date
reflection of the safety environment.
Retail sites include sites operated by
dealers, jobbers, franchisees or brand licensees or joint venture
(JV) partners, under the bp brand. These may move to and from the
bp brand as their fuel supply agreement or brand licence agreement
expires and are renegotiated in the normal course of business.
Retail sites are primarily branded bp,
ARCO, Amoco, Aral, Thorntons and
TravelCenters of America and also includes sites in India through
our Jio-bp JV.
Solomon availability - See Refining availability
definition.
Strategic convenience sites are retail sites, within the bp
portfolio, which sell bp-supplied vehicle energy
(e.g. bp, Aral,
Arco, Amoco, Thorntons,
bp pulse, TA and PETRO) and either carry one of the
strategic convenience brands (e.g. M&S, Rewe to Go) or a
differentiated bp-controlled convenience offer. To be considered a
strategic convenience site, the convenience offer should have a
demonstrable level of differentiation in the market in which it
operates. Strategic convenience site count includes sites under a
pilot phase.
Top of page 35
Glossary (continued)
Surplus cash flow does not represent the residual
cash flow available for discretionary expenditures. It is a
non-IFRS financial measure that should be considered in addition
to, not as a substitute for or superior to, net cash provided by
operating activities, reported in accordance with IFRS. bp believes
it is helpful to disclose the surplus cash flow because this
measure forms part of bp's financial frame.
Surplus cash flow refers to the net surplus of sources of cash over
uses of cash, after reaching the $35 billion net debt target.
Sources of cash include net cash provided by operating activities,
cash provided from investing activities and cash receipts relating
to transactions involving non-controlling interests. Uses of cash
include lease liability payments, payments on perpetual hybrid
bond, dividends paid, cash capital expenditure, the cash cost of
share buybacks to offset the dilution from vesting of awards under
employee share schemes, cash payments relating to transactions
involving non-controlling interests and currency translation
differences relating to cash and cash equivalents as presented on
the condensed group cash flow statement.
Technical service contract (TSC) - Technical service contract is
an arrangement through which an oil and gas company bears the risks
and costs of exploration, development and production. In return,
the oil and gas company receives entitlement to variable physical
volumes of hydrocarbons, representing recovery of the costs
incurred and a profit margin which reflects incremental production
added to the oilfield.
Tier 1 and tier 2 process safety events - Tier 1 events are losses of
primary containment from a process of greatest consequence -
causing harm to a member of the workforce, damage to equipment from
a fire or explosion, a community impact or exceeding defined
quantities. Tier 2 events are those of lesser consequence. These
represent reported incidents occurring within bp's operational HSSE
reporting boundary. That boundary includes bp's own operated
facilities and certain other locations or situations. Reported
process safety events are investigated throughout the year and as a
result there may be changes in previously reported events.
Therefore comparative movements are calculated against internal
data reflecting the final outcomes of such investigations, rather
than the previously reported comparative period, as this represents
a more up to date reflection of the safety
environment.
Transition growth - Activities, represented by a
set of transition growth engines, that transition bp toward its
objective to be an integrated energy company, and that comprise our
low carbon activity* alongside other businesses that support
transition, such as our power trading and marketing business and
convenience.
Underlying effective tax rate (ETR) is a non-IFRS measure. The
underlying ETR is calculated by dividing taxation on an underlying
replacement cost (RC) basis by underlying RC profit or loss before
tax. Taxation on an underlying RC basis for the group is calculated
as taxation as stated on the group income statement adjusted for
taxation on inventory holding gains and losses and total taxation
on adjusting items. Information on underlying RC profit or loss is
provided below. Taxation on an underlying RC basis presented for
the operating segments is calculated through an allocation of
taxation on an underlying RC basis to each segment. bp believes it
is helpful to disclose the underlying ETR because this measure may
help investors to understand and evaluate, in the same manner as
management, the underlying trends in bp's operational performance
on a comparable basis, period on period. Taxation on an underlying
RC basis and underlying ETR are non-IFRS measures. The nearest
equivalent measure on an IFRS basis is the ETR on profit or loss
for the period.
We are unable to present reconciliations of forward-looking
information for underlying ETR to ETR on profit or loss for the
period, because without unreasonable efforts, we are unable to
forecast accurately certain adjusting items required to present a
meaningful comparable IFRS forward-looking financial measure. These
items include the taxation on inventory holding gains and losses
and adjusting items, that are difficult to predict in advance in
order to include in an IFRS estimate.
Underlying production - 2024 underlying production,
when compared with 2023, is production after adjusting for
acquisitions and divestments, curtailments, and entitlement impacts
in our production-sharing agreements/contracts and technical
service contract*.
Underlying RC profit or loss / underlying RC profit or loss
attributable to bp shareholders is a non-IFRS measure and is RC
profit or loss* (as defined on page 34) after excluding net
adjusting items and related taxation. See page 27 for additional
information on the adjusting items that are used to arrive at
underlying RC profit or loss in order to enable a full
understanding of the items and their financial
impact.
Underlying RC profit or loss before interest and
tax for the operating segments or
customers & products businesses is calculated as RC profit or
loss (as defined above) including profit or loss attributable to
non-controlling interests before interest and tax for the operating
segments and excluding net adjusting items for the respective
operating segment or business.
bp believes that underlying RC profit or loss is a useful measure
for investors because it is a measure closely tracked by management
to evaluate bp's operating performance and to make financial,
strategic and operating decisions and because it may help investors
to understand and evaluate, in the same manner as management, the
underlying trends in bp's operational performance on a comparable
basis, period on period, by adjusting for the effects of these
adjusting items. The nearest equivalent measure on an IFRS basis
for the group is profit or loss attributable to bp shareholders.
The nearest equivalent measure on an IFRS basis for segments and
businesses is RC profit or loss before interest and taxation. A
reconciliation to IFRS information is provided on page 1 for the
group and pages 6-14 for the segments.
Top of page 36
Glossary (continued)
Underlying RC profit or loss per share / underlying RC profit or
loss per ADS is a non-IFRS measure. Earnings
per share is defined in Note 7. Underlying RC profit or loss per
ordinary share is calculated using the same denominator as earnings
per share as defined in the consolidated financial statements. The
numerator used is underlying RC profit or loss attributable to bp
shareholders, rather than profit or loss attributable to bp
ordinary shareholders. Underlying RC profit or loss per ADS is
calculated as outlined above for underlying RC profit or loss per
share except the denominator is adjusted to reflect one ADS
equivalent to six ordinary shares. bp believes it is helpful to
disclose the underlying RC profit or loss per ordinary share and
per ADS because these measures may help investors to understand and
evaluate, in the same manner as management, the underlying trends
in bp's operational performance on a comparable basis, period on
period. The nearest equivalent measure on an IFRS basis is basic
earnings per share based on profit or loss for the period
attributable to bp ordinary shareholders.
upstream includes oil and natural gas
field development and production within the gas & low carbon
energy and oil production & operations
segments.
upstream/hydrocarbon plant reliability (bp-operated) is calculated
taking 100% less the ratio of total unplanned plant deferrals
divided by installed production capacity, excluding non-operated
assets and bpx energy. Unplanned plant deferrals are associated
with the topside plant and where applicable the subsea equipment
(excluding wells and reservoir). Unplanned plant deferrals include
breakdowns, which does not include Gulf of Mexico weather related
downtime.
upstream unit production costs are calculated as production cost
divided by units of production. Production cost does not include ad
valorem and severance taxes. Units of production are barrels for
liquids and thousands of cubic feet for gas. Amounts disclosed are
for bp subsidiaries only and do not include bp's share of
equity-accounted entities.
Working capital is movements in inventories and
other current and non-current assets and liabilities as reported in
the condensed group cash flow statement.
Change in working capital adjusted for inventory holding
gains/losses, fair value accounting effects relating to
subsidiaries and other adjusting items is a non-IFRS measure. It is
calculated by adjusting for inventory holding gains/losses reported
in the period; fair value accounting effects relating to
subsidiaries reported within adjusting items for the period; and
other adjusting items relating to the non-cash movement of US
emissions obligations carried as a provision that will be settled
by allowances held as inventory. This represents what would have
been reported as movements in inventories and other current and
non-current assets and liabilities, if the starting point in
determining net cash provided by operating activities had been
underlying replacement cost profit rather than profit for the
period. The nearest equivalent measure on an IFRS basis for this is
movements in inventories and other current and non-current assets
and liabilities.
bp utilizes various arrangements in order to manage its working
capital including discounting of receivables and, in the supply and
trading business, the active management of supplier payment terms,
inventory and collateral.
Trade marks
Trade marks of the bp group appear throughout this announcement.
They include:
bp, Amoco, Aral, ampm, bp pulse, Castrol, PETRO, TA, Thorntons, Gigahub, epic goods and earnify
Top of page 37
Cautionary statement
In order to utilize the 'safe harbor' provisions of the United
States Private Securities Litigation Reform Act of 1995 (the
'PSLRA') and the general doctrine of cautionary statements, bp is
providing the following cautionary statement:
The discussion in this results announcement contains certain
forecasts, projections and forward-looking statements - that is,
statements related to future, not past events and circumstances -
with respect to the financial condition, results of operations and
businesses of bp and certain of the plans and objectives of bp with
respect to these items. These statements may generally, but not
always, be identified by the use of words such as 'will',
'expects', 'is expected to', 'aims', 'should', 'may', 'objective',
'is likely to', 'intends', 'believes', 'anticipates', 'plans', 'we
see' or similar expressions.
In particular, the following, among other statements, are all
forward looking in nature: plans, expectations and assumptions
regarding oil and gas demand, supply, prices or volatility;
expectations regarding reserves; expectations regarding production
and volumes; expectations regarding bp's customers & products
business; expectations regarding margins; expectations regarding
underlying effective tax rate; expectations regarding turnaround
and maintenance activity; expectations regarding financial
performance, results of operations, finance debt acquired in the
fourth quarter, and cash flows; expectations regarding cash cost
savings delivery; expectations regarding future project start-ups;
expectations regarding the timing of bp's update on its medium-term
plans; expectations regarding shareholders returns; expectations
regarding bp's convenience businesses; bp's financial guidance,
including previous guidance for at least $14 billion of share
buybacks through 2025; bp's plans and expectations regarding the
amount and timing of share buybacks and dividends; plans and
expectations regarding bp's credit rating, including in respect of
maintaining a strong investment grade credit rating and targeting
further improvements in credit metrics; plans and expectations
regarding the allocation of surplus cash flow to share buybacks;
plans and expectations regarding the sale of bp's Türkiye
ground fuels business; plans and expectations regarding development
of bp's electric vehicle (EV) charging infrastructure and RNG
landfill plants; plans and expectations related to bp's transition
growth engines, including expected capital expenditures; plans and
expectations regarding the amount or timing of payments related to
divestment and other proceeds, and the timing, quantum and nature
of certain acquisitions and divestments; expectations regarding the
timing and amount of future payments relating to the Gulf of Mexico
oil spill; expectations regarding bp's development of hydrogen and
sale of its US onshore wind energy business; plans and expectations
regarding bp's guidance for 2024 and the fourth quarter of 2024,
including expected growth, margins, businesses & corporate
underlying annual charge, timing and amount of divestment and other
proceeds, depreciation, depletion and amortization; plans and
expectations regarding capital expenditure; and plans and
expectations regarding bp-operated projects, ventures, investments,
joint ventures, partnerships and agreements with commercial
entities and other third party partners, including but not limited
to ADNOC, Audi, EOG Resources Trinidad Limited, Iberdrola, Perenco
T&T, the Republic of Iraq, SOCAR, Shell Pipeline Company LP and
Enbridge Offshore Facilities LC.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that will or may occur in the future and are outside
the control of bp.
Actual results or outcomes may differ materially from those
expressed in such statements, depending on a variety of factors,
including: the extent and duration of the impact of current market
conditions including the volatility of oil prices, the effects of
bp's plan to exit its shareholding in Rosneft and other investments
in Russia, overall global economic and business conditions
impacting bp's business and demand for bp's products as well as the
specific factors identified in the discussions accompanying such
forward-looking statements; changes in consumer preferences and
societal expectations; the pace of development and adoption of
alternative energy solutions; developments in policy, law,
regulation, technology and markets, including societal and investor
sentiment related to the issue of climate change; the receipt of
relevant third party and/or regulatory approvals including ongoing
approvals required for the continued developments of approved
projects; the timing and level of maintenance and/or turnaround
activity; the timing and volume of refinery additions and outages;
the timing of bringing new fields onstream; the timing, quantum and
nature of certain acquisitions and divestments; future levels of
industry product supply, demand and pricing, including supply
growth in North America and continued base oil and additive supply
shortages; OPEC+ quota restrictions; PSA and TSC effects;
operational and safety problems; potential lapses in product
quality; economic and financial market conditions generally or in
various countries and regions; political stability and economic
growth in relevant areas of the world; changes in laws and
governmental regulations and policies, including related to climate
change; changes in social attitudes and customer preferences;
regulatory or legal actions including the types of enforcement
action pursued and the nature of remedies sought or imposed; the
actions of prosecutors, regulatory authorities and courts; delays
in the processes for resolving claims; amounts ultimately payable
and timing of payments relating to the Gulf of Mexico oil spill;
exchange rate fluctuations; development and use of new technology;
recruitment and retention of a skilled workforce; the success or
otherwise of partnering; the actions of competitors, trading
partners, contractors, subcontractors, creditors, rating agencies
and others; bp's access to future credit resources; business
disruption and crisis management; the impact on bp's reputation of
ethical misconduct and non-compliance with regulatory obligations;
trading losses; major uninsured losses; the possibility that
international sanctions or other steps taken by governmental
authorities or any other relevant persons may impact bp's ability
to sell its interests in Rosneft, or the price for which bp could
sell such interests; the actions of contractors; natural disasters
and adverse weather conditions; changes in public expectations and
other changes to business conditions; wars and acts of terrorism;
cyber-attacks or sabotage; and those factors discussed under
"Principal risks and uncertainties" in bp's Report on Form 6-K
regarding results for the six-month period ended 30 June 2024 as
filed with the US Securities and Exchange Commission (the "SEC") as
well as those factors discussed under "Risk factors" in bp's Annual
Report and Form 20-F for fiscal year 2023 as filed with the
SEC.
Top of page 38
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Contacts
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London
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Houston
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Press Office
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David Nicholas
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Paul Takahashi
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+44 (0) 7831 095541
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+1 713 903 9729
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Investor Relations
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Craig Marshall
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Graham Collins
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bp.com/investors
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+44 (0) 203 401 5592
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+1 832 753 5116
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BP p.l.c.'s LEI Code 213800LH1BZH3D16G760
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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BP
p.l.c.
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(Registrant)
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Dated: 29
October 2024
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/s/ Ben
J. S. Mathews
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------------------------
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Ben J.
S. Mathews
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Company
Secretary
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