BP 2015 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 28.
Group Upstream Our Upstream segment manages exploration,
development and production activities.
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 20. Some 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 20.
$(0.9)bn
replacement cost loss
before interest and tax
2014: $8.9bn profit
$1.2bn
underlying replacement cost profit
before interest and tax
2014: $15.2bn
8,000km2
new exploration access
2014: 47,000km2
3
upstream major project★
start-ups
2014: 7 major projects
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
onshore wind.
We also have a 19.75% shareholding in Rosneft,
that we report as a separate segment.
2.3
million barrels of oil
equivalent per dayb
2014: 2.1mmboe/d
a See footnote a on page 15.
3.3
million barrels of oil
equivalent per daya
2014: 3.2mmboe/d
$(6.5)bn
loss attributable to
BP shareholders
2014: $3.8bn profit
20
tier 1 process
safety events★
2014: 28
$19.1bn
operating cash
flow★
2014: $32.8bn
$5.9bn
underlying replacement
cost profit★
2014: $12.1bn
21.6%
gearing (net
debt ratio)★
2014: 16.7%
1
4
2
3
1. Subsidiaries★ 3,982
2. Equity-accounted entities 707
Total 4,689
Total 5,694
3.
Subsidiaries
5,269
4. Equity-accounted entities 425
Liquids
Natural gas
Upstream proved
reservesb (mmboe)
b Excludes BP’s share of Rosneft.
See Rosneft on page 38.
BP Annual Report and Form 20-F 20152