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BP Financial and Operating Information 2004-2008

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BP Financial and Operating Information 2004-2008 Financial and Operating Information 2004-2008 This is BP Interactive resources BP is one of the world’s largest oil and gas Visit www.bp.com/investortools to chart companies, supplying millions of customers in our key fi nancial and operating information more than 90 countries across six continents. for the past fi ve years, on an annual or Our business segments are Exploration and quarterly basis, for the BP group as a Production and Refi ning and Marketing. Through whole or by business segment. these business segments, we provide fuel for BP p.l.c. is the parent company transportation, retail brands and energy for of the BP group of companies. Unless heat and light. otherwise stated, the text does not BP’s three priorities are safety, people and distinguish between the activities and performance. We have great positions in many operations of the parent company and of the major hydrocarbon basins of the world. those of its subsidiaries. We also have great market positions in the key BP is a leader in our industry and economies and are preparing for the future by that position is refl ected in our standards building a new low-carbon energy business. of social responsibility, corporate governance and fi nancial and sustainability reporting, of which this document is part. For a complete view of BP’s performance, this document should be read in conjunction with BP Annual Report and Accounts 2008, BP Annual Report on Form 20-F 2008 and BP Sustainability Review 2008. Copies may be obtained free of charge (see page 71). For more information www.bp.com/investors These yellow boxes highlight sources of information you might fi nd helpful. They refer to other general BP content available online, which does not form part of Financial and Operating Information 2004-2008. 1 Financial and Operating Information 2004-2008 Overview BP history at a glance 1 3 2 1. Anglo-Persian 2. Alaska 3. Thunder Horse Oil Company 250 miles north of On 14 June 2008 the BP was incorporated the Arctic Circle, our world’s largest fl oating in 1909 as the Anglo- Endicott fi eld was the platform processed oil Persian Oil Company. world’s fi rst offshore for the fi rst time. This followed several Arctic oilfi eld. years of very demanding exploration, including the test drilling shown in this photograph at Chiah Siurkh, Persia in 1902. 2 1909 1920s-1930s 1922 The company is incorporated in The Anglo-Persian Oil Company Limited After eight years of majority share England as the Anglo-Persian Oil becomes the pre-eminent oil producer ownership, the British government Company Limited. The incorporation in the Middle East. The company enters begins offering ordinary shares of focuses on the commercialization into international marketing in continental Anglo-Persian Oil Company stock of Masjid-i-Suleiman in Iran, the fi rst Europe, Africa and Australia. for sale to the public. commercial oil discovery in the Middle East. 1954 1969 1978 The company name becomes The BP enters North America with its BP gains a majority interest in Standard British Petroleum Company Limited. discovery and major share of the Oil. The company acquires the Marketing activities extend to New Prudhoe Bay oil fi eld on Alaska’s North chemicals and plastics interests in Zealand, parts of Africa and more Slope. This leads in the following year Europe of Union Carbide and, in 1979, countries in Europe. A consortium to BP’s taking a sizeable interest in of Monsanto. agreement for Iranian oil gives BP Standard Oil of Ohio. a 40% stake. 1987 1997 1998 Privatization of BP shares is completed. In response to mounting evidence and BP merges with Amoco, the world’s Following periodic public offerings of concern regarding greenhouse gas largest industrial merger at the time, a minority of its shareholdings over emissions and the rising temperature becoming one of three leaders in the previous 65 years, the British of the earth, BP becomes the fi rst the oil and gas industry. The merger government disposes of nearly all the in its industry to state publicly the gives the combined companies the remaining 32% shareholding in BP. need for precautionary action on opportunity to compete through a In December, BP makes an offer to climate change. highly distinctive set of people, purchase Standard Oil and the deal is assets and market positions. completed the following year. 2000 2002 2003 ARCO joins the BP group in a Acquisition of Veba’s retail and TNK-BP, the joint venture between $34-billion transaction that provides refi ning assets in Germany and BP and AAR (the Alfa Group and coast-to-coast coverage of the US central Europe makes BP the market Access-Renova), operating in Russia, fuels market. BP’s acquisition of leader in Germany and Austria. is fi nalized. The venture gives BP a Burmah Castrol strengthens BP’s BP markets under the Aral brand major stake in one of the world’s market-facing business with one in Germany. great hydrocarbon provinces. of the world’s great brands. 2005 2007 2008 BP sells its Innovene business, including Tony Hayward succeeds Lord Browne as Thunder Horse – the largest semi - its olefi ns and derivatives business and group chief executive. BP ’s deepwater submersible facility in the world refi neries in Grangemouth, UK and projects – Atlantis in the Gulf of Mexico, – comes onstream, and BP achieves Lavéra, France, for $8.3 billion cash. and Greater Plutonio in Angola – start up. resource replacement of more than BP Alternative Energy, a new business BP buys out the minority shareholding 200% and reported reserves replacement dedicated to generating low -carbon of its refi nery in Rotterdam in the of more than 100% in 2008. This is 15th power, is launched. Netherlands from Chevron and sells consecutive year reserves replacement its refi nery in Coryton, UK. has exceeded 100%. .
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