BP plc · LSE:BP.
BP — Shareholder Meeting (April 2009)
9 slides from BP's shareholder meeting presentation, Apr 16, 2009
Slide 1: Annual General Meeting
Annual General Meeting Thursday 16 April 2009
Slide 2: Tony Hayward, Group Chief Executive
Tony Hayward Group Chief Executive 2009 Annual General Meeting
Slide 3: 2008 full year results and realisations
2008 full year results and realisations Change vs. 2007 Results for the year $bn % • Replacement cost profit 25.6 39 • Profit including inventory gains/losses 21.2 1 • Net cash provided by operating activities 38.1 54 Dividend ¢/share 55.05 30 Average realizations $ • Liquids $/bbl 90.2 34 • Natural
Slide 4: 2008 operational momentum
2008 operational momentum Upstream growth • Growth in line with guidance • 5% underlying, excluding PSC entitlement effects • Major project start-up volumes ahead of plan • Cost increases below sector inflation • Strong reported reserve replacement and resource growth Downstream turnaround • Restori
Slide 5: 2008 financial momentum
2008 financial momentum Underlying(1) Net Income ($bn) 26.2 43.7 28.4 22.8 20.5 Year on Year % 39% 10% 12% 30% 22% Cash from operations ($bn) 38.1 59.7 43.9 29.6 27.5 Year on Year % 54% 15% 27% 19% 13% Reported volumes (mboed) 3838 3921 3248 2530 2341 Year on Year % 1% -6% -2% -3% -2% (1) For BP und
Slide 6: 2008 strategic momentum
2008 strategic momentum Access success Exploration success New projects – (Whiting, Biofuels, E&P new sanctions) 6
Slide 7: Oil price and costs
Oil price and costs BP cash Brent oil price cost index ($/bbl) 170 100 160 150 80 140 60 130 120 40 110 100 20 90 80 0 2004 2005 2006 2007 2008 2009 2009 BP projections 7
Slide 8: A challenging environment
A challenging environment Our response • Immediate priorities − Safe and reliable operations − Dividend − Rapid cost reduction: drive deflation into our business • Strengths − Cost momentum: ‘every dollar counts, every seat counts’ − Operational momentum: production, refining − Strong balance sheet
Slide 9: An enduring strategy: Safety, People, Performance
An enduring strategy Safety : People : Performance • Safe, compliant and reliable operations: our No. 1 priority • Strategy in progress − Upstream growth − Downstream turnaround − Alternative Energy: focused, disciplined − Corporate simplification 9