BP 2013 Annual Report Download - page 4

Information about this report
Registered office and our worldwide
headquarters:
BP p.l.c.
1 St James’s Square
London SW1Y 4PD
UK
Tel [phone]
Registered in England and Wales No. 102498.
Stock exchange symbol ‘BP.’
Our agent in the US:
BP America Inc.
501 Westlake Park Boulevard
Houston, Texas 77079
US
Tel [phone]
This document constitutes the Annual Report and Accounts in accordance with UK requirements
and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for
BP p.l.c. for the year ended 31 December 2013. A cross reference to Form 20-F requirements is
included on page 282.
The BP Annual Report and 20-F 2013 reflects a number of significant changes in regulations in the
UK. The most significant change is the requirement to produce a new strategic report that replaces
the previous business review. The regulations require certain new disclosures to be included in the
strategic report including a description of a company’s strategy and business model – we have
included a more focused and graphical presentation of BP’s strategy and business model in this
report, compared with the 2012 report.
This document contains the Strategic report on pages 1-58 and the inside cover (Who we are
section) and the Directors’ report on pages 59-80, 109 -114, 116, 200-223 and 235-280. The Strategic
report and the Directors’ report together include the management report required by DTR 4.1 of the
UK Financial Conduct Authority’s Disclosure and Transparency Rules. The Directors’ remuneration
report is on pages 81-108. The consolidated financial statements of the group are on pages 115-199
and the corresponding reports of the auditor are on pages 117-121. The parent company financial
statements of BP p.l.c. and corresponding auditor’s report are on pages 224-234 and page 224
respectively.
The statement of directors’ responsibilities, the independent auditor’s report on the annual report
and accounts to the members of BP p.l.c. and the parent company financial statements of BP p.l.c.
and corresponding auditor’s report do not form part of BP’s Annual Report on Form 20-F as filed
with the SEC.
BP Annual Report and Form 20-F 2013 and BP Strategic Report 2013 (comprising the Strategic report
and supplementary information) may be downloaded from bp.com/annualreport. No material on the
BP website, other than the items identified as BP Annual Report and Form 20-F 2013 or
BP Strategic Report 2013 (comprising the Strategic report and supplementary information), forms any
part of those documents. References in this document to other documents on the BP website, such
as the BP Energy Outlook, are included as an aid to their location and are not incorporated by
reference into this document.
BP p.l.c. is the parent company of the BP group of companies. The company was incorporated in
1909 in England and Wales and changed its name to BP p.l.c. in 2001. Where we refer to the
company, we mean BP p.l.c. Unless otherwise stated, the text does not distinguish between the
activities and operations of the parent company and those of its subsidiaries, and information in this
document reflects 100% of the assets and operations of the company and its subsidiaries that were
consolidated at the date or for the periods indicated, including non-controlling interests.
BP’s primary share listing is the London Stock Exchange. Ordinary shares are also traded on the
Frankfurt Stock Exchange in Germany and, in the US, the company’s securities are traded on the
New York Stock Exchange (NYSE) in the form of ADSs (see page 274 for more details).
The term ‘shareholder’ in this report means, unless the context otherwise requires, investors in the
equity capital of BP p.l.c., both direct and indirect. As BP shares, in the form of ADSs, are listed on the
NYSE, an Annual Report on Form 20-F is filed with the US Securities and Exchange Commission (SEC).
Ordinary shares are ordinary fully paid shares in BP p.l.c. of 25 cents each. Preference shares are
cumulative first preference shares and cumulative second preference shares in BP p.l.c. of £1 each.
Frequent abbreviations
ADR
American depositary receipt.
ADS
American depositary share.
Barrel (bbl)
159 litres, 42 US gallons.
bcf
Billion cubic feet.
bcf/d
Billion cubic feet per day.
bcfe
Billion cubic feet equivalent.
bcma
Billion cubic metres per annum.
b/d
Barrels per day.
boe
Barrels of oil equivalent.
GAAP
Generally accepted accounting practice.
Gas
Natural gas.
Hydrocarbons
Liquids and natural gas.
IFRS
International Financial Reporting Standards.
Liquids
Crude oil, condensate and natural gas liquids.
LNG
Liquefied natural gas.
LPG
Liquefied petroleum gas.
mb/d
Thousand barrels per day.
mboe/d
Thousand barrels of oil equivalent per day.
mmboe
Million barrels of oil equivalent.
mmBtu
Million British thermal units.
mmcf
Million cubic feet.
mmcf/d
Million cubic feet per day.
MW
Megawatt.
NGLs
Natural gas liquids.
PSA
Production-sharing agreement.
RC
Replacement cost.
SEC
The United States Securities and
Exchange Commission.
Therm
100,000 British thermal units.
Tonne
2,204.6 pounds.
Trade marks of the BP group appear throughout this Annual Report and Form 20-F in italics.
They include:
Aral
ARCO
BP
Castrol
Castrol EDGE
Field of the Future
Fluid Strength Technology
Hummingbird
LoSal
Project 20K
SaaBre
Veba Combi-Cracking (VCC)
Permasense is a trade mark of Permasense
Limited.
Pick n Pay is a registered trademark of
Pick n Pay Stores Limited.
Cautionary statement
This document should be read in conjunction
with the cautionary statement on page 271.
Certain definitions
For definitions of certain financial and
contractual terms see page 269.
Key performance indicators (KPIs)
Read about our group KPIs on page 18.
BP Annual Report and Form 20-F 2013ii