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1H 2008 strategic progressReducing complexityRestructuring• Headcount reduction on track• $468 million 1H08 restructuring costsDelayering• Reduction in management layers• 20% senior positions removedBusiness simplification• Integrated fuel value chain organisation established• Focussing marketing footprint− Aviation: exiting 27 countries− Lubricants: reduced direct presence in 20 countries• US convenience retail: 260 out of 800 sites moved to franchise offer so far
1H 2008 strategic progressSecuring the future• Continued exploration success: Angola, Egypt, North Sea, Gulf of Mexico• New access to resources:−−−Integrated oil sands / refining JVs with HuskyCanadian Arctic – Beaufort SeaArkoma Basin Woodford shale gas deal• Block 31 Angola: Approval of programme development• Denali/Alaska Gas Pipeline• Whiting Canadian Crude project: Final investment decision taken• Brazilian biofuels
Page 2 and 3: Cautionary StatementForward Looking
Page 5 and 6: Byron GroteChief Financial Officer
Page 7 and 8: Exploration & Production$bnpre-tax1
Page 9 and 10: Sources & uses of cash$bnpost tax20
Page 11: 1H 2008 strategic progressRestoring
Page 15 and 16: TNK-BP performance 2003-7Reserves r
Page 17 and 18: TNK-BP performance 2003-7#1 in Russ
Page 19 and 20: Changing business environmentRefini
Page 21 and 22: BP strategy: closing the competitiv

pdf (423KB) - BP

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