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2 August 2022bp second quarter 2022 financial results
2 August 2022bp second quarter 2022
1Q 2022 financial results
svp investor relations
Good morning everyone and welcome tobp’s second quarter 2022 results
Iamhere today with Bernard Looney, chief executive officer and Murray
Auchincloss, chief financial officer .
Before webegin today, letmedraw your attention toourcautionary statement .
22Q 2022 financial resultsCautionary statement
* For items marked with an asterisk throughout this document, definitions are provided in the glossary
3Inorder toutilize the‘safe harbor ’provisions oftheUnited States Private Securities Litigation Reform Actof1995 (the‘PSLRA’) andthegeneral doctrine ofcautionary statements, bpisproviding thefollowing cautionary statement :Thediscussion inthisresults announcement
contains certain forecasts, projections andforward -looking statements -thatis,statements related tofuture, notpast events andcircumstances -with respect tothefinancial condition, results ofoperations andbusinesses ofbpandcertain oftheplans andobjectives ofbp
with respect tothese items .These statements may generally, butnotalways, beidentified bytheuseofwords such as‘will’, ‘expects’, ‘isexpected to’,‘aims’, ‘should’, ‘may’, ‘objective’, ‘islikely to’,‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘wesee’, ‘focus on’orsimilar
Inparticular, thefollowing, among other statements, areallforward looking innature :expectations regarding theconflict inUkraine, including theimpacts andconsequences onenergy supplies ;plans, expectations andassumptions regarding oilandgasdemand, supply, and
prices ;expectations regarding capacity andinventory levels ;plans andexpectations regarding bp’s performance, earnings, balance sheet andcapital expenditure, including with respect tobp’s resilient hydrocarbons, convenience andmobility andlowcarbon energy
businesses ;plans andexpectations related toearnings growth, including theaimthatresilient hydrocarbons willreach $28-33billion ofEBITDA by2030 ,thatEBITDA from convenience andmobility willreach around $9-10billion by2030 ,thatEBITDA forbp’s lowcarbon
businesses willreach around $2-3billion ofEBITDA by2030 ,thatEBITDA from transition growth businesses willreach around $9-10billion by2030 ,andthatEBITDA from EVcharging willreach around $2billion by2030 ;plans tohigh-grade bp’s oilandgasportfolio, including
expectations regarding future production ;expectations regarding theoilandgasbusiness’s contribution totheaimofsustaining EBITDA from resilient hydrocarbons to2030 ;plans andexpectations regarding allocating investments tomaterial regions oftheworld, and
expectations regarding EBITDA growth from these regions ;plans andexpectations regarding cost efficiency, divestment andgrowing unitmargins ;plans andexpectations foroilandgasEBITDA toremain highly leveraged toprice over thedecade ;plans andexpectations
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