BP 2012 Annual Report Download - page 3

Introduction and contents
BP Annual Report and Form 20-F 2012
3 Business review: Group overview
4 BP at a glance
8 Chairman’s letter
10 Group chief executive’s letter
12 Energy outlook
15 Our business model
20 Our strategy
22 Our performance
28 Our key performance indicators
30 Our management of risk
32 Cautionary statement
33 Business review: BP in more depth
34 Financial review
38 Risk factors
46 Safety
51 Environmental and social responsibility
55 Employees
57 Technology
59 Gulf of Mexico oil spill
63 Upstream
72 Downstream
80 TNK-BP
82 Other businesses and corporate
84 Oil and gas disclosures for the group
90 Liquidity and capital resources
94 Regulation of the group’s business
98 Certain definitions
101 Corporate governance
102 Governance overview
104 Board of directors
109 Executive team
112 How the board works
114 Board effectiveness
116 Shareholder engagement
117 Risk in BP
120 Audit committee
122 Safety, ethics and environment
assurance committee
124 Gulf of Mexico committee
125 Nomination committee
126 Chairman’s committee
126 UK Corporate Governance Code
compliance
127 Directors’ remuneration report
147 Regulatory information
153 Shareholder information
154 Called-up share capital
154 Share prices and listings
155 Dividends
155 UK foreign exchange controls on dividends
155 Shareholder taxation information
157 Major shareholders
158 Purchases of equity securities by the
issuer and affiliated purchasers
158 Fees and charges payable by ADSs holders
159 Fees and payments made by the
Depositary to the issuer
159 Documents on display
159 Administration
159 Annual general meeting
161 Additional disclosures
162 Legal proceedings
171 Critical accounting policies
174 Relationships with suppliers
and contractors
174 Material contracts
175 Related-party transactions
175 Exhibits
177 Financial statements
178 Statement of directors’ responsibilities
179 Consolidated financial statements of
the BP group
186 Notes on financial statements
263 Supplementary information on oil and
natural gas (unaudited)
PC1 Parent company financial statements
of BP p.l.c.
BP in 2012
The group made good progress
this year. We worked
to enhance safety and risk
management. We continued to
meet our commitments in the
Gulf of Mexico. We sold assets
and reduced complexity. And
we focused investment on areas
where we see higher margins.
Over the following pages, we
report on the actions taken to
build a stronger, safer BP.
Pages 5 – 00 Pages 33 – 100 Pages 101 – 152 Pages 153 – 160 Pages 161 – 176 Pages 177 – PC11
Corporate governance Additional disclosures Financial statements
Shareholder information
Business review: BP in more depth
20F Cross reference to Form 20-F
2 Information about this report
1
Business review: Group overview
Pages 3 – 32