BP 2013 Annual Report Download - page 6

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Business model
For more information on our business
model see page 12.
BP at a glance
See Upstream page 25.
Group Upstream Our Upstream segment manages exploration,
development and production activities through
global functions with specialist areas of
expertise.
BP p.l.c. is the parent company of
the BP group of companies. Our
worldwide headquarters is in London.
Our group key performance indicators (KPIs)
are shown on page 18. Some of the financial
KPIs are not recognized GAAP measures, but
are provided for investors because they are
closely tracked by management to evaluate
BP’s operating performance and to make
financial, strategic and operating decisions.
See KPIs page 18.
1
4
2
3
1. Subsidiaries 4,349
2. Equity-accounted entities 745
Total 5,094
Total 6,328
3.
Subsidiaries
5,894
4. Equity-accounted entities 434
Liquidsf
Natural gas
Upstream proved reserves
e$16.7bn
replacement cost profit
before interest and tax
43,000km2
new exploration access
3
Upstream major project start-ups
First, we acquire exploration rights,
then we search for hydrocarbons
beneath the earth’s surface.
Once we have found
hydrocarbons, we work to bring
them to the surface.
Finding
oil and gas
Developing and extracting
oil and gas
BP delivers energy products
and services to people around
the world.
Through our two main operating segments,
Upstream and Downstream, we find, develop
and produce essential sources of energy,
turning them into products that people need.
We also buy and sell at each stage of the
hydrocarbon value chain.
In renewable energy, our activities are focused
on biofuels and wind.
We also have a 19.75% shareholding in Rosneft.
2.3
million barrels of oil
equivalent per day
e Million barrels of oil equivalent. Natural gas is converted to oil equivalent
at 5.8 billion cubic feet (bcf) = 1 million barrels. Excludes BP’s share of
Rosneft reserves. See Rosneft on page 36.
f Liquids comprise crude oil, condensate, natural gas liquids and bitumen.
a See footnote a on page 56.
b Net debt is not a recognized
GAAP measure, see
Financial statements –
Note 28.
c See footnote g on page 24.
d Compared with 2012.
$23.5bn
profit attributable to
BP shareholders
3.2
million barrels of oil
equivalent per dayc
31
fewer reported
losses of primary
containmentd
$21.1bn
operating cash
flowa
16.2%
gearing (net
debt ratio)b
BP Annual Report and Form 20-F 20132