BP plc · LSE:BP.
BP — Shareholder Meeting (2008)
6 slides from BP's shareholder meeting presentation, Oct 25, 2008
Slide 1: Tony Hayward, Group Chief Executive
Tony Hayward Group Chief Executive
Slide 2: 2007 Financial results
2007 Financial results Change vs. 2006 Results for 2007 $bn % % per share • Replacement cost profit 17.3 (22) (19) • Profit including inventory gains/losses 20.8 (5) (1) • Net cash provided by operating activities 24.7 (12) (8) Change vs. 2006 2007 realizations and margins % • Average liquid realiza
Slide 3: Our agenda
Our agenda Safety • Progress in personal and process safety • Implementation of common operating system People • Capability • Recruitment Performance • Restore revenues • Reduce complexity 3
Slide 4: 2007 highlights
2007 highlights Exploration & Production • Nine project start-ups • 14th consecutive year of reserves replacement ratio above 100% (112% at year end prices*) Refining & Marketing • Progress on restoring Texas City and Whiting refineries in the US Alternative Energy • ~$1 billion investment • Cedar C
Slide 5: BP's strategy
BP’s strategy • Exploration & Production: sustainable future • Refining & Marketing: business transformation; closing performance gap • Corporate simplification: reducing overhead by 15-20% • Alternative Energy: creating equity value 5
Slide 6: BP in the 21st Century
BP in the 21st Century On the frontier of the industry Success requires: • Know how • Technology • Relationships of mutual advantage • Global Brand Today’s frontiers: • Deep-water, sub-salt, deep reservoirs, heavy oil, tight gas, enhanced oil recovery, advanced conversion, alternative energy, new re