BP 2015 Annual Report Download - page 3

Download and view the complete annual report

Please find page 3 of the 2015 BP annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 266

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266

BP in 2015
It is a challenging time for our
industry but we are making the
changes that are needed without
compromising our longer-term
goals.
Corporate governance Financial statements Shareholder informationAdditional disclosures
1 Strategic report
2 BP at a glance
6 Chairman’s letter
8 Group chief executive’s letter
10 Our market outlook
12 Our business model and strategy
18 Lower oil and gas prices
20 Our key performance indicators
22 Strategy, performance and pay
24 Our markets in 2015
26 Group performance
28 Upstream
34 Downstream
38 Rosneft
40 Other businesses and corporate
41 Gulf of Mexico oil spill
43 Corporate responsibility
51 Our management of risk
53 Risk factors
55 Corporate governance
56 Board of directors
60 Executive team
62 Introduction from the chairman
63 The board in 2015
64 Board activity
65 Shareholder engagement
66 International advisory board
66 How the board works
68 Audit committee
71 Safety, ethics and environment
assurance committee
73 Gulf of Mexico committee
74 Geopolitical committee
74 Chairman’s committee
75 Nomination committee
76 Directors’ remuneration report
93 Directors’ statements
95 Financial statements
96 Consolidated financial statements
of the BP group
107 Notes on financial statements
169 Supplementary information on oil and
natural gas (unaudited)
196 Parent company financial statements
of BP p.l.c.
215 Additional disclosures
216 Selected financial information
219 Liquidity and capital resources
221 Upstream analysis by region
225 Downstream plant capacity
227 Oil and gas disclosures for the group
233 Environmental expenditure
233 Regulation of the group’s business
237 Legal proceedings
242 International trade sanctions
243 Material contracts
243 Property, plant and equipment
243 Related-party transactions
244 Corporate governance practices
244 Code of ethics
244 Controls and procedures
245 Principal accountants’ fees and services
245 Directors’ report information
246 Disclosures required under Listing
Rule 9.8.4.R
246 Cautionary statement
247 Shareholder information
248 Share prices and listings
248 Dividends
249 UK foreign exchange controls on dividends
249 Shareholder taxation information
251 Major shareholders
251 Annual general meeting
251 Memorandum and Articles of Association
253 Purchases of equity securities by the
issuer and affiliated purchasers
254 Fees and charges payable by
ADSs holders
254 Fees and payments made by
the Depositary to the issuer
254 Documents on display
255 Shareholding administration
255 Exhibits
255 Abbreviations, glossary and trade marks
259 Signatures
260 Cross reference to Form 20-F
Information about this report
★ Glossary
Words with this symbol★ are defined
in the glossary on page 256.
BP Annual Report and Form 20-F 2015 i
Strategic report