Presentation slides and script (pdf, 2.6MB) | Investors - BP
Presentation slides and script (pdf, 2.6MB) | Investors - BP Presentation slides and script (pdf, 2.6MB) | Investors - BP
−−Higher liquids realisations and the benefit of the TAPS costpooling;Partly offset by higher non-cash costs, lower gas realisations andlower production.On the back of stronger-than-expected third-quarter production,benefiting from the absence of seasonal adverse weather in the Gulfof Mexico, we now expect fourth-quarter reported production to bebroadly flat with the third quarter and costs to be higher with theabsence of the TAPS pooling settlement benefit.8
This slide shows our share of earnings from Rosneft, and historically from TNK-BP.BP’s share of Rosneft underlying net income was over $800 million in the thirdquarter, significantly higher than in the previous quarter. The third quarter benefitedfrom rouble appreciation against the US dollar, a positive duty lag and higher Uralsprices, partially reversing the negative impact of these factors in the second quarter.BP’s share of Rosneft production in the third quarter was 965 thousand barrels of oilequivalent per day, 2% higher than in the previous quarter. BP’s total production forthe quarter, including this production, was 3.2 million barrels of oil equivalent per day.In the third quarter we received around $460 million after tax from our share of theRosneft dividend that related to last year’s earnings. We expect no further dividendsfrom Rosneft this year.9
- Page 2 and 3: Hello and welcome everyone. This is
- Page 4 and 5: Thanks Jess and welcome everyone -
- Page 6 and 7: So today’s agenda, will follow a
- Page 8 and 9: Starting with an overview of the th
- Page 12 and 13: In the Downstream, the third quarte
- Page 14 and 15: ThechargefortheGulfofMexicoprovisio
- Page 16 and 17: Moving now to cash flow, this slide
- Page 18 and 19: This slide outlines our financial f
- Page 20 and 21: First an update on the status of le
- Page 22 and 23: In regard to Russia, as Rosneft not
- Page 24 and 25: Moving on, let me update you on pro
- Page 26 and 27: Our Global Projects Organisation co
- Page 28 and 29: This is a brief round-up on a geogr
- Page 30 and 31: Now turning to the Downstream.24
- Page 32 and 33: The Whiting refinery has continued
- Page 34 and 35: These are all examples of the way w
−−Higher liquids realisations <strong>and</strong> the benefit of the TAPS costpooling;Partly offset by higher non-cash costs, lower gas realisations <strong>and</strong>lower production.On the back of stronger-than-expected third-quarter production,benefiting from the absence of seasonal adverse weather in the Gulfof Mexico, we now expect fourth-quarter reported production to bebroadly flat with the third quarter <strong>and</strong> costs to be higher with theabsence of the TAPS pooling settlement benefit.8
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