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BP plc investor presentation dated July 2024.
financial resultsHello everyone and thank you for your interest in bp’s second quarter 2024 results.
Today’s video presentation features Murray Auchincloss, chief executive officer and Kate
Thomson, chief financial officer.
Before we begin today, let me draw your attention to our cautionary statement.
SVP investor relationsCraig
MarshallIn this presentation, we will make forward-looking statements that refer to our estimates,
plans and expectations. Actual results and outcomes could differ materially due to factors
we note on this slide and in our UK and SEC filings. Please refer to our Annual Report,
Stock Exchange announcement and SEC filings for more details. These documents are
available on our website.
Let me now handover to Murray.
32Q 2024 financial results 3* For items marked with an asterisk throughout this document, definitions are provided in the glossaryCautionary statement
In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’) and the general doctrine of cautionary statements, bp is providing the following cautionary statement: The discussion in
this results announcement contains certain forecasts, projections and forward-looking statements - that is, statements related to future, not past events and circumstances - with respect to the financial condition, results of operations and businesses of
bp and certain of the plans and objectives of bp with respect to these items. These statements may generally, but not always, be identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘aims’, ‘should’, ‘may’, ‘objective’, ‘is likely to’,
‘intends’,‘believes’,‘anticipates’,‘plans’,‘we see’,‘focuson’or similarexpressions.
In particular, the following, among other statements, are all forward looking in nature: plans, expectations and assumptions regarding oil and gas demand, supply, prices, volumes and margins; plans and expectations regarding bp’s spending, returns to
shareholders, financial performance, capital expenditure, balance sheet, working capital, and cash flows; plans and expectations related to bp’s 2026 cost savings target; plans relating to bp’s investments; plans and expectations relating to bp’s oil and
gas portfolio, including the Trinidad gas business; plans and expectations regarding oil and gas production and volume growth, including delivery on our 2025 production target; expectations regarding our 2024 and 2025 EBITDA target; expectations
regarding the 3Q24 and full year 2024 guidance, including reported and underlying volume, customers, products, OB&C underlying annual charge, DD&A, underlying effective tax rate for 2024, cash taxes, capital expenditure, divestments and Gulf of
Mexico spill payments; expectations regarding turnaround and maintenance activity; expectations regarding future project start-ups, and major oil and gas projects; plans and expectations regarding renewables, power and retail fuels; plans and
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