View
213
Download
0
Category
Tags:
Preview:
Citation preview
BP Review
David Eyton, Group Head of Research & Technology
Princeton, 9th Feb 2010
2
Agenda
• Reflections on the past year
• What’s going on in BP
• Looking forward for the CMI
3
Personal Reflections
• A shifting energy landscape
• COP15 – the end of the beginning
• Re-emergence of gas
• Climate scientists under scrutiny
4
2009 results: BP and other IOCs
Underlying Net Income ($bn) 14.6 19.4 11.6 9.6 5.5 Year on Year % -44% -56% -59% -58% -67%
Cash from Operations ($bn) 27.7 28.5 21.0 na 12.5 Year on Year % -27% -52% -52% na -45%
Reported Volumes 3998 3932 3152 2704 2288 Year on Year % 4.2% 0.3% -3.0% 6.9% 2.4%
Market Capitalisation ($bn) 173 315 174 147 74 Year on Year % 18% -22% 7% -2% -4%
Capital Expenditure as disclosed ($bn) 20.3 27.1 27.6 22.2 10.9 Year on Year % -34% 4% 4% 4% 4%
* ExxonMobil, Chevron and ConocoPhillips shown pre-Lifo adjustment.
5
Energy Pathways
Oil
Gas
Nuclear, Hydro/Wind/Sol, Fossil/CCS
Battery Electric Vehicles-
Electricity from Coal
6
BP’s Group-level Core Universities
7
Looking forward in 2010
1. Retain the CMI’s climate science and modelling credibility
2. Continue to engage at the political interface
3. Seriously focus on gas
4. Mitigation versus Adaptation
Recommended