bp_second_quarter_2011_results.pdfVIP

BP p.l.c. Group results Second quarter and half year 2011(a) London 26 July 2011 FOR IMMEDIATE RELEASE Second First Second quarter quarter quarter First half 2010 2011 2011 2011 2010 $ million (17,150) 7,124 5,620 Profit (loss) for the period(b) 12,744 (11,071) 177 (1,643) (311) Inventory holding (gains) losses, net of tax (1,954) (304) (16,973) 5,481 5,309 Replacement cost profit (loss) 10,790 (11,375) (90.35) 29.13 28.10 - per ordinary share (cents) 57.23 (60.58) (5.42) 1.75 1.69 - per ADS (dollars) 3.43 (3.63) ? BP’s second quarter replacement cost profit was $5,309 million, compared with a loss of $16,973 million a year ago. For the half year, replacement cost profit was $10,790 million, compared with a loss of $11,375 million a year ago. ? The group income statement for the second quarter and half year includes pre-tax credits related to the Gulf of Mexico oil spill of $0.6 billion and $0.2 billion respectively. All amounts relating to the incident have been treated as non-operating items. For further information on the Gulf of Mexico oil spill and its consequences see pages 2 – 3, Note 2 on pages 22 – 27, Principal risks and uncertainties on pages 33 – 39 and Legal proceedings on pages 40 – 43. ? Non-operating items (including amounts relating to the Gulf of Mexico oil spill) and fair value accounting effects for the second quarter, on a post-tax basis, had a net unfavourable impact of $298 million compared with a net unfavourable impact of $21,953 million in the second quarter of 2010. For the half year, the respective amounts were $191 million and $22,002 million unfavourable. See pages 4, 19 and 20 for further details. ? Finance costs and net finance income or expense relating to pensions and other post-retirement benefits were $249 million for the second quarter, compared with $214 million for the same period last year. For the half year, the respective amounts were $488 million and $442 milli