BP 2010 Annual Report Download - page 5

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Miscellaneousterms
Inthisdocument,unlessthecontext
otherwiserequires,thefollowingterms
shallhavethemeaningsetoutbelow.
ADR
Americandepositaryreceipt.
ADS
Americandepositaryshare.
AGM
Annualgeneralmeeting.
Amoco
TheformerAmocoCorporationandits
subsidiaries.
Annulus
Thespacebetweentwoconcentric
objects,suchasbetweenthewellbore
andcasingofanoilwellorbetween
casingandtubing,whereuidcanow.
Itallowsuids,suchasdrillingmud,to
circulateinthewell.
Atlantic Richeld
AtlanticRicheldCompanyandits
subsidiaries.
Associate
Anentity,includinganunincorporated
entitysuchasapartnership,overwhich
thegrouphassignicantinuenceand
thatisneitherasubsidiarynorajoint
venture.Signicantinuenceisthe
powertoparticipateinthenancialand
operatingpolicydecisionsofanentity
butisnotcontrolorjointcontrolover
thosepolicies.
Barrel
42USgallons.
b/d
barrelsperday.
boe
barrelsofoilequivalent.
BP, BP group or the group
BPp.l.c.anditssubsidiaries.
Burmah Castrol
BurmahCastrolPLCanditssubsidiaries.
Cent or c
One-hundredthoftheUSdollar.
The company
BPp.l.c.
Dollar or $
TheUSdollar.
EU
EuropeanUnion.
GAAP
Generallyacceptedaccountingpractice.
Gas
Naturalgas.
GCRO
GulfCoastRestorationOrganization.
Hydrocarbons
Crudeoilandnaturalgas.
IFRS
InternationalFinancialReporting
Standards.
Joint control
Jointcontrolisthecontractuallyagreed
sharingofcontroloveraneconomic
activity,andexistsonlywhenthe
strategicnancialandoperating
decisionsrelatingtotheactivityrequire
theunanimousconsentoftheparties
sharingcontrol(theventurers).
Joint venture
Acontractualarrangementwherebytwo
ormorepartiesundertakeaneconomic
activitythatissubjecttojointcontrol.
Jointly controlled asset
Ajointventurewheretheventurers
jointlycontrol,andoftenhaveadirect
ownershipinterestintheassetsofthe
venture.Theassetsareusedtoobtain
benetsfortheventurers.Eachventurer
maytakeashareoftheoutputfromthe
assetsandeachbearsanagreedshare
oftheexpensesincurred.
Jointly controlled entity
Ajointventurethatinvolvesthe
establishmentofacorporation,
partnershiporotherentityinwhicheach
venturerhasaninterest.Acontractual
arrangementbetweentheventurers
establishesjointcontroloverthe
economicactivityoftheentity.
Liquids
Crudeoil,condensateandnaturalgas
liquids.
LNG
Liqueednaturalgas.
London Stock Exchange or LSE
LondonStockExchangeplc.
LPG
Liqueedpetroleumgas.
mb/d
thousandbarrelsperday.
mboe/d
thousandbarrelsofoilequivalentper
day.
mmBtu
millionBritishthermalunits.
mmboe
millionbarrelsofoilequivalent.
mmcf
millioncubicfeet.
mmcf/d
millioncubicfeetperday.
MW
Megawatt.
NGLs
Naturalgasliquids.
OPEC
OrganizationofPetroleumExporting
Countries.
Ordinary shares
OrdinaryfullypaidsharesinBPp.l.c.of
25ceach.
Pence or p
One-hundredthofapoundsterling.
Pound, sterling or £
Thepoundsterling.
Preference shares
CumulativeFirstPreferenceSharesand
CumulativeSecondPreferenceSharesin
BPp.l.c.of£1each.
PSA
Aproduction-sharingagreement(PSA)is
anarrangementthroughwhichanoil
companybearstherisksandcostsof
exploration,developmentand
production.Inreturn,ifexplorationis
successful,theoilcompanyreceives
entitlementtovariablephysicalvolumes
ofhydrocarbons,representingrecovery
ofthecostsincurredandastipulated
shareoftheproductionremainingafter
suchcostrecovery.
SEC
TheUnitedStatesSecuritiesand
ExchangeCommission.
Subsidiary
AnentitythatiscontrolledbytheBP
group.Controlisthepowertogovernthe
nancialandoperatingpoliciesofan
entitysoastoobtainthebenetsfrom
itsactivities.
Tonne
2,204.6pounds.
Trust
DeepwaterHorizonOilSpillTrust.
UK
UnitedKingdomofGreatBritainand
NorthernIreland.
US
UnitedStatesofAmerica.
BPAnnualReportandForm20-F2010 3