Presentation slides and script (pdf, 2.6MB) | Investors - BP

This slide outlines our financial framework for 2014 and beyond.We continue to expect operating cash flow of $30-31 billion in 2014, representingmore than 50% growth in operating cash flow versus 2011.In line with continued capital discipline, we expectBP’scapitalspendingin2014toremain at around the same level expected for this year, in the range of $24 to $25billion. Beyond that we expect annual gross capital expenditure to be in the range of$24 to $27 billion through to the end of the decade.We are confident in our ability to deliver material growth in operating cash flowsbeyond 2014 coupled with continued capital discipline. This will enable us to growsustainable free cash flow to underpin progressive dividend growth into the future.We expect to divest a further $10 billion of assets before the end of 2015 and to usethe post-tax proceeds for distributions, primarily through share buybacks. Beyond2015 we will continue to actively manage our portfolio for value.And we expect to outline the financial shape of the firm beyond 2014 in an InvestorUpdate on the 4 th March next year.Now let me hand you back to Bob.16