BP 2006 Annual Report Download - page 140
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138
31 Other investments
$ million
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2006 2005
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Listed 1,516 830
Unlisted 181 137
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1,697 967
Other investments comprise equity investments that have no fixed maturity date or coupon rate. These investments are classified as available-for-sale
financial assets and as such are recorded at fair value with the gain or loss arising as a result of changes in fair value recorded directly in equity.
The fair value of listed investments has been determined by reference to quoted market bid prices. Unlisted investments are stated at cost less
accumulated impairment losses.
The table below shows other investments stated at cost.
$ million
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2006 2005
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
At cost
Listed 1,056 250
Unlisted 219 173
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1,275 423
During 2006, the group sold its interests in Zhenhai Refining and Chemicals Company, Eiffage, the French-based construction company, and Enagas,
the Spanish gas transport grid operator, for aggregate proceeds of $0.8 billion, recognizing gains of $0.5 billion. Also in 2006, the group acquired a stake
in Rosneft for $1 billion. In 2004, the group disposed of its interests in PetroChina and Sinopec for aggregate proceeds of $2.4 billion and recognized
gains of $1.3 billion.
32 Inventories
$ million
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2006 2005
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Crude oil 5,357 5,457
Natural gas 127 164
Refined petroleum and petrochemical products 10,817 10,700
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
16,301 16,321
Supplies 1,222 919
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
17,523 17,240
Trading inventories 1,392 2,520
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18,915 19,760
Cost of inventories expensed in the income statement 187,183 163,026