3Q07 Part 2 of 2

BP PLC 23 October 2007 Summarized Group Income Statement ------------------------------- Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million 68,540 71,872 71,334 Sales and other operating revenues (Note 3) 204,513 203,960 Earnings from jointly controlled entities - after 1,878 910 900 interest and tax 2,143 3,269 88 173 204 Earnings from associates - after interest and tax 540 317 220 128 172 Interest and other revenues 533 524 ------------------------- ----------------- 70,726 73,083 72,610 Total revenues 207,729 208,070 2,276 1,309 228 Gain on sale of businesses and fixed assets 2,217 3,414 ------------------------- ----------------- 73,002 74,392 72,838 Total revenues and other income 209,946 211,484 48,431 49,983 51,810 Purchases 144,453 142,677 6,275 6,276 6,297 Production and manufacturing expenses 18,325 17,368 1,202 827 921 Production and similar taxes (Note 4) 2,495 2,989 2,194 2,535 2,505 Depreciation, depletion and amortization 7,559 6,687 Impairment and losses on sale of businesses and 387 455 129 fixed assets 807 489 351 155 244 Exploration expense 555 637 3,630 3,565 4,137 Distribution and administration expenses 11,159 10,242 (493) (283) (14) Fair value (gain) loss on embedded derivatives (452) (312) ------------------------- ----------------- Profit before interest and taxation from 11,025 10,879 6,809 continuing operations 25,045 30,707 169 251 262 Finance costs (Note 5) 777 513 (52) (96) (89) Other finance income (Note 6) (278) (146) ------------------------- ----------------- 10,908 10,724 6,636 Profit before taxation from continuing operations 24,546 30,340 4,614 3,283 2,158 Taxation 7,881 10,984 ------------------------- ----------------- 6,294 7,441 4,478 Profit from continuing operations 16,665 19,356 - - - Profit (loss) from Innovene operations (Note 2) - (25) ------------------------- ----------------- 6,294 7,441 4,478 Profit for the period 16,665 19,331 ========================= ================= Attributable to: 6,231 7,376 4,406 BP shareholders 16,446 19,120 63 65 72 Minority interest 219 211 ------------------------- ----------------- 6,294 7,441 4,478 16,665 19,331 ========================= ================= Earnings per share - cents Profit for the period attributable to BP shareholders 31.46 38.37 23.18 Basic 85.61 94.80 31.40 38.18 23.07 Diluted 85.19 94.12 Profit from continuing operations attributable to BP shareholders 31.46 38.37 23.18 Basic 85.61 94.93 31.40 38.18 23.07 Diluted 85.19 94.24 Summarized Group Balance Sheet --------------------------- 30 September 31 December 2007 2006 =========================== $ million Non-current assets Property, plant and equipment 96,934 90,999 Goodwill 11,138 10,780 Intangible assets 5,971 5,246 Investments in jointly controlled entities 15,350 15,074 Investments in associates 5,994 5,975 Other investments 1,650 1,697 --------------------------- Fixed assets 137,037 129,771 Loans 1,016 817 Other receivables 979 862 Derivative financial instruments 3,105 3,025 Prepayments and accrued income 1,031 1,034 Defined benefit pension plan surplus 7,596 6,753 --------------------------- 150,764 142,262 --------------------------- Current assets Loans 166 141 Inventories 21,784 18,915 Trade and other receivables 39,418 38,692 Derivative financial instruments 7,326 10,373 Prepayments and accrued income 3,497 3,006 Current tax receivable 246 544 Cash and cash equivalents 2,410 2,590 --------------------------- 74,847 74,261 Assets classified as held for sale - 1,078 --------------------------- 74,847 75,339 --------------------------- Total assets 225,611 217,601 =========================== Current liabilities Trade and other payables 42,649 42,236 Derivative financial instruments 6,954 9,424 Accruals and deferred income 6,522 6,147 Finance debt 12,789 12,924 Current tax payable 2,995 2,635 Provisions 1,896 1,932 --------------------------- 73,805 75,298 Liabilities directly associated with the assets classified as held for - 54 sale --------------------------- 73,805 75,352 --------------------------- Non-current liabilities Other payables 1,176 1,430 Derivative financial instruments 3,685 4,203 Accruals and deferred income 988 961 Finance debt 12,456 11,086 Deferred tax liabilities 19,072 18,116 Provisions 13,211 11,712 Defined benefit pension plan and other post-retirement benefit plan deficits 9,724 9,276 --------------------------- 60,312 56,784 --------------------------- Total liabilities 134,117 132,136 --------------------------- Net assets 91,494 85,465 =========================== Equity BP shareholders' equity 90,541 84,624 Minority interest 953 841 --------------------------- 91,494 85,465 =========================== Group Statement of Recognized Income and Expense ------------------------------------------- Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million 531 621 788 Currency translation differences 1,583 993 Exchange gain on translation of foreign operations transferred to gain on sale of businesses and fixed - (128) - assets (147) - 144 6 78 Available-for-sale investments marked to market (25) 297 Available-for-sale investments - recycled to the (1) - (91) income statement (91) (426) (15) 13 139 Cash flow hedges marked to market 180 272 (26) (21) (5) Cash flow hedges - recycled to the income statement (86) 50 5 - (2) Cash flow hedges - recycled to the balance sheet (9) 5 (166) 105 90 Taxation 118 (120) ------------------------- ----------------- 472 596 997 Net income recognized directly in equity 1,523 1,071 6,294 7,441 4,478 Profit for the period 16,665 19,331 ------------------------- ----------------- Total recognized income and expense relating to 6,766 8,037 5,475 the period 18,188 20,402 ========================= ================= Attributable to: 6,703 7,967 5,372 BP shareholders 17,917 20,191 63 70 103 Minority interest 271 211 ------------------------- ----------------- 6,766 8,037 5,475 18,188 20,402 ========================= ================= Movement in BP Shareholders' Equity ---------------------------------- $ million Movement in BP shareholders' equity At 31 December 2006 84,624 Profit for the period 16,446 Distribution to shareholders (6,050) Currency translation differences (net of tax) 1,501 Exchange gain on translation of foreign operations transferred to gain on sale (net of tax) (147) Share-based payments (net of tax) 696 Repurchase of ordinary share capital (6,493) Available-for-sale investments (net of tax) (111) Cash flow hedges (net of tax) 104 Other (29) ---------- At 30 September 2007 90,541 ========== Summarized Group Cash Flow Statement --------------------------------- Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million Operating activities 10,908 10,724 6,636 Profit before taxation from continuing operations 24,546 30,340 Adjustments to reconcile profits before tax to net cash provided by operating activities 232 60 146 Exploration expenditure written off 261 359 2,194 2,535 2,505 Depreciation, depletion and amortization 7,559 6,687 Impairment and (gain) loss on sale of businesses (1,889) (854) (99) and fixed assets (1,410) (2,925) (1,966) (1,083) (1,104) Earnings from jointly controlled entities and (2,683) (3,586) associates Dividends received from jointly controlled entities 2,407 813 1,060 and associates 2,102 3,686 (6,756) (6,109) (2,788) Working capital and other movements (9,955) (11,359) ------------------------- ----------------- 5,130 6,086 6,356 Net cash provided by operating activities(a) 20,420 23,202 ------------------------- ----------------- Investing activities (3,945) (4,334) (4,336) Capital expenditure (12,315) (10,652) (102) (111) (27) Acquisitions, net of cash acquired (1,225) (102) - (12) (122) Investment in jointly controlled entities (143) (26) (159) (65) (37) Investment in associates (146) (467) 2,662 836 211 Proceeds from disposal of fixed assets 1,357 5,045 Proceeds from disposal of businesses, net of cash 135 1,905 - disposed 2,513 391 33 33 45 Proceeds from loan repayments 123 163 - 374 - Other 374 - ------------------------- ----------------- (1,376) (1,374) (4,266) Net cash used in investing activities (9,462) (5,648) ------------------------- ----------------- Financing activities (3,430) (1,918) (1,441) Net repurchase of shares (5,761) (11,702) 706 1,513 107 Proceeds from long-term financing 2,978 1,616 (996) (93) (369) Repayments of long-term financing (1,596) (1,781) 294 (1,499) 1,426 Net increase (decrease) in short-term debt (631) 525 (1,943) (1,983) (2,066) Dividends paid - BP shareholders (6,050) (5,759) (57) (71) (24) - Minority interest (159) (211) ------------------------- ----------------- (5,426) (4,051) (2,367) Net cash used in financing activities (11,219) (17,312) ------------------------- ----------------- Currency translation differences relating to cash 19 26 44 and cash equivalents 81 (3) ------------------------- ----------------- (1,653) 687 (233) Increase (decrease) in cash and cash equivalents (180) 239 4,852 1,956 2,643 Cash and cash equivalents at beginning of period 2,590 2,960 ------------------------- ----------------- 3,199 2,643 2,410 Cash and cash equivalents at end of period 2,410 3,199 ========================= ================= (a)Net cash provided by operating activities is calculated from the starting point of profit before taxation which includes inventory holding gains and losses. Net cash provided by operating activities also reflects working capital movements including inventories, trade and other receivables and trade and other payables. The carrying value of these working capital items will change for various reasons, including movements in oil, gas and product prices. Summarized Group Cash Flow Statement ---------------------------------- Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million Working capital and other movements (141) (93) (154) Interest receivable (342) (393) 120 103 152 Interest received 340 411 169 251 262 Finance costs 777 513 (267) (335) (300) Interest paid (968) (928) (52) (96) (89) Other finance income (278) (146) 134 107 129 Share-based payments 311 339 Net operating charge for pensions and other (36) (31) (61) post-retirement benefits, less contributions (179) (133) (115) (257) 362 Net charge for provisions, less payments (52) (106) 1,477 (683) (803) (Increase) decrease in inventories (2,134) 134 (Increase) decrease in other current and non-current (1,616) (621) 956 assets 3,474 727 Increase (decrease) in other current and non-current (1,763) (2,429) (104) liabilities (4,533) (1,735) (4,666) (2,025) (3,138) Income taxes paid (6,371) (10,042) ------------------------- ----------------- (6,756) (6,109) (2,788) (9,955) (11,359) ------------------------- ----------------- Capital Expenditure and Acquisitions ------------------------------ Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million By business Exploration and Production 220 195 276 UK 692 646 52 108 122 Rest of Europe 317 195 1,160 1,453 1,133 US 3,636 3,371 2,505 1,874 1,710 Rest of World(a) 5,222 5,409 ------------------------- ----------------- 3,937 3,630 3,241 9,867 9,621 ------------------------- ----------------- Refining and Marketing 67 94 137 UK 304 211 149 266 379 Rest of Europe(b) 1,855 315 289 380 466 US 1,115 799 117 118 155 Rest of World 353 333 ------------------------- ----------------- 622 858 1,137 3,627 1,658 ------------------------- ----------------- Gas, Power and Renewables 17 12 6 UK 25 24 7 3 8 Rest of Europe(b) 18 19 187 106 90 US 232 239 9 20 34 Rest of World 67 42 ------------------------- ----------------- 220 141 138 342 324 ------------------------- ----------------- Other businesses and corporate 13 21 22 UK 78 71 - - - Rest of Europe 2 - 32 46 34 US 112 120 - - - Rest of World - - ------------------------- ----------------- 45 67 56 192 191 ------------------------- ----------------- 4,824 4,696 4,572 14,028 11,794 ========================= ================= By geographical area 317 322 441 UK 1,099 952 208 377 509 Rest of Europe 2,192 529 1,668 1,985 1,723 US 5,095 4,529 2,631 2,012 1,899 Rest of World 5,642 5,784 ------------------------- ----------------- 4,824 4,696 4,572 14,028 11,794 ========================= ================= Included above: 106 332 2 Acquisitions and asset exchanges(b) 1,447 116 ========================= ================= (a)Third quarter 2006 included $1 billion for the purchase of shares in Rosneft. (b)Nine months ended 30 September 2007 included $1,132 million for the acquisition of Chevron's Netherlands manufacturing company. Exchange rates 1.87 1.99 2.02 US dollar/sterling average rate for the period 1.99 1.82 1.87 2.00 2.02 US dollar/sterling period-end rate 2.02 1.87 1.27 1.35 1.37 US dollar/euro average rate for the period 1.34 1.24 1.27 1.35 1.42 US dollar/euro period-end rate 1.42 1.27 ------------------------- ----------------- Analysis of Profit Before Interest and Tax ---------------------------------- Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million By business Exploration and Production 1,306 1,113 703 UK 2,878 4,305 264 183 221 Rest of Europe 1,124 960 3,820 2,037 1,845 US 5,545 8,379 4,539 3,561 3,578 Rest of World 9,748 10,928 ------------------------- ----------------- 9,929 6,894 6,347 19,295 24,572 ------------------------- ----------------- Refining and Marketing 46 1,028 (10) UK 954 57 387 1,029 623 Rest of Europe 2,133 1,858 65 1,631 (136) US 1,784 2,419 219 293 459 Rest of World 1,175 1,413 ------------------------- ----------------- 717 3,981 936 6,046 5,747 ------------------------- ----------------- Gas, Power and Renewables (46) (38) (85) UK (75) 70 (15) (7) (37) Rest of Europe (37) (10) 141 124 (26) US 122 566 72 156 77 Rest of World 360 227 ------------------------- ----------------- 152 235 (71) 370 853 ------------------------- ----------------- Other businesses and corporate (327) (25) 124 UK 53 (548) 11 (1) (78) Rest of Europe (58) (35) 81 (111) (369) US (593) (60) 22 (25) (139) Rest of World (141) 23 ------------------------- ----------------- (213) (162) (462) (739) (620) ------------------------- ----------------- 10,585 10,948 6,750 24,972 30,552 440 (69) 59 Consolidation adjustment 73 155 ------------------------- ----------------- 11,025 10,879 6,809 Total for continuing operations 25,045 30,707 ------------------------- ----------------- Innovene operations - - - UK - (145) - - - Rest of Europe - (61) - - - US - 1 - - - Rest of World - 21 ------------------------- ----------------- - - - Total for Innovene operations - (184) ------------------------- ----------------- 11,025 10,879 6,809 Total for period 25,045 30,523 ========================= ================= By geographical area 989 2,080 731 UK 3,809 3,909 695 1,213 718 Rest of Europe 3,176 2,749 4,491 3,622 1,364 US 6,918 11,453 4,850 3,964 3,996 Rest of World 11,142 12,596 ------------------------- ----------------- 11,025 10,879 6,809 Total for continuing operations 25,045 30,707 ========================= ================= Analysis of Replacement Cost Profit Before Interest and Tax ------------------------------ Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million By business Exploration and Production 1,306 1,113 703 UK 2,878 4,305 264 183 221 Rest of Europe 1,124 960 3,827 2,038 1,843 US 5,533 8,392 4,538 3,559 3,576 Rest of World 9,744 10,927 ------------------------- ----------------- 9,935 6,893 6,343 19,279 24,584 ------------------------- ----------------- Refining and Marketing 138 963 22 UK 975 161 765 584 492 Rest of Europe 1,374 1,913 388 964 (527) US 559 1,774 212 229 389 Rest of World 1,046 1,123 ------------------------- ----------------- 1,503 2,740 376 3,954 4,971 ------------------------- ----------------- Gas, Power and Renewables (46) (38) (85) UK (75) 70 (17) (8) (37) Rest of Europe (38) (20) 150 102 (23) US 105 578 65 134 88 Rest of World 347 278 ------------------------- ----------------- 152 190 (57) 339 906 ------------------------- ----------------- Other businesses and corporate (327) (25) 124 UK 53 (548) 9 (2) (77) Rest of Europe (58) (40) 35 (112) (359) US (585) (106) 22 (25) (139) Rest of World (141) 23 ------------------------- ----------------- (261) (164) (451) (731) (671) ------------------------- ----------------- 11,329 9,659 6,211 22,841 29,790 440 (69) 59 Consolidation adjustment 73 155 ------------------------- ----------------- 11,769 9,590 6,270 Total for continuing operations 22,914 29,945 ------------------------- ----------------- Innovene operations - - - UK - (145) - - - Rest of Europe - (61) - - - US - 1 - - - Rest of World - 21 ------------------------- ----------------- - - - Total for Innovene operations - (184) ------------------------- ----------------- 11,769 9,590 6,270 Total for period 22,914 29,761 ========================= ================= By geographical area 1,081 2,015 763 UK 3,830 4,013 1,069 766 590 Rest of Europe 2,417 2,789 4,784 2,933 983 US 5,672 10,787 4,835 3,876 3,934 Rest of World 10,995 12,356 ------------------------- ----------------- 11,769 9,590 6,270 Total for continuing operations 22,914 29,945 ========================= ================= Analysis of Non-operating Items -------------------------- Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million By business Exploration and Production Impairment and gain (loss) on sale of businesses and 1,962 100 1 fixed assets 704 2,301 (17) - (12) Environmental and other provisions (12) (17) - - - Restructuring, integration and rationalization costs - - 521 299 33 Fair value gain (loss) on embedded derivatives 477 275 - - - Other - - ------------------------- ----------------- 2,466 399 22 1,169 2,559 ------------------------- ----------------- Refining and Marketing Impairment and gain (loss) on sale of businesses and 2 767 105 fixed assets 693 678 (33) - (138) Environmental and other provisions (138) (33) - - - Restructuring, integration and rationalization costs - - - - - Fair value gain (loss) on embedded derivatives - - (400) - (311) Other (361) (976) ------------------------- ----------------- (431) 767 (344) 194 (331) ------------------------- ----------------- Gas, Power and Renewables Impairment and gain (loss) on sale of businesses and (65) (13) 4 fixed assets (7) (66) - - - Environmental and other provisions - - - - - Restructuring, integration and rationalization costs - - (20) (23) (12) Fair value gain (loss) on embedded derivatives (28) 32 - - - Other - - ------------------------- ----------------- (85) (36) (8) (35) (34) ------------------------- ----------------- Other businesses and corporate Impairment and gain (loss) on sale of businesses and (10) - (11) fixed assets 20 12 96 - (35) Environmental and other provisions (35) 96 - - - Restructuring, integration and rationalization costs - - (8) 7 (7) Fair value gain (loss) on embedded derivatives 3 5 - - (152) Other (152) - ------------------------- ----------------- 78 7 (205) (164) 113 ------------------------- ----------------- 2,028 1,137 (535) Total before taxation for continuing operations 1,164 2,307 (803) (396) 189 Taxation credit (charge)(a) (406) (902) ------------------------- ----------------- 1,225 741 (346) Total after taxation for continuing operations 758 1,405 ------------------------- ----------------- Innovene operations - - - Total before taxation for Innovene operations(b) - (184) - - - Taxation credit (charge) - (7) ------------------------- ----------------- - - - Total after taxation for Innovene operations - (191) ------------------------- ----------------- 1,225 741 (346) Total after taxation for period 758 1,214 ========================= ================= (a)Tax on non-operating items is calculated using the quarter's effective tax rate on replacement cost profit from continuing operations. (b)Includes the loss on remeasurement to fair value of $184 million in the nine months of 2006. Realizations and Marker Prices ------------------------- Third Second Third Quarter Quarter Quarter Nine months 2006 2007 2007 2007 2006 ========================= ================= Average realizations(a) Liquids ($/bbl)(b) 63.57 63.82 72.99 UK 62.88 63.39 62.95 59.42 67.47 US 59.30 58.92 65.50 64.76 73.56 Rest of World 63.88 61.25 64.15 62.58 71.12 BP Average 62.00 60.91 ========================= ================= Natural gas ($/mcf) 5.55 4.84 4.89 UK 5.84 6.55 5.51 5.94 4.64 US 5.44 5.96 3.62 3.56 3.42 Rest of World 3.63 3.70 4.49 4.45 3.93 BP Average 4.42 4.83 ========================= ================= Average oil marker prices ($/bbl) 69.60 68.76 74.74 Brent 67.12 67.02 70.44 64.89 75.24 West Texas Intermediate 66.15 68.09 69.02 65.77 76.31 Alaska North Slope US West Coast 66.06 66.28 62.92 62.16 69.37 Mars 61.67 60.76 65.90 65.03 71.98 Urals (NWE- cif) 63.82 62.94 39.83 39.56 41.95 Russian domestic oil 36.33 37.11 ========================= ================= Average natural gas marker prices 6.58 7.55 6.16 Henry Hub gas price ($/mmbtu)(c) 6.83 7.45 33.72 20.24 30.58 UK Gas - National Balancing Point (p/therm) 24.45 46.28 ========================= ================= (a)Based on sales of consolidated subsidiaries only - this excludes equity- accounted entities. (b)Crude oil and natural gas liquids. (c)Henry Hub First of the Month Index. Notes ----- 1. Basis of preparation BP prepares its Annual Report and Accounts on the basis of International Financial Reporting Standards (IFRS) as adopted for use by the European Union (EU). The financial information presented herein has been prepared in accordance with the accounting policies expected to be used in preparing the Annual Report and Accounts 2007 which do not differ significantly from those used for the Annual Report and Accounts 2006. 2. Sale of Olefins and Derivatives business The sale of Innovene, BP's olefins, derivatives and refining group, to INEOS, was completed on 16 December 2005. The period to 30 September 2006 includes a loss on remeasurement to fair value of $184 million. Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million Loss recognized on the remeasurement to - - - fair value - (184) Taxation - - - Related to profit before tax - 166 - - - Related to remeasurement to fair value - (7) ------------------------- ----------------- - - - Profit (loss) from Innovene operations - (25) ========================= ================= Earnings (loss) per share from Innovene operations - cents - - - Basic - (0.13) - - - Diluted - (0.12) ========================= ================= 3. Sales and other operating revenues Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million By business 12,932 12,747 12,796 Exploration and Production 37,762 40,345 61,169 63,960 63,761 Refining and Marketing 180,840 179,079 5,840 5,403 4,490 Gas, Power and Renewables 15,506 18,484 212 178 238 Other businesses and corporate 622 670 ------------------------- ----------------- 80,153 82,288 81,285 234,730 238,578 11,613 10,416 9,951 Less: sales between businesses 30,217 34,618 ------------------------- ----------------- 68,540 71,872 71,334 Total third party sales 204,513 203,960 ========================= ================= By geographical area 27,809 27,713 25,017 UK 76,785 81,842 20,412 19,064 19,817 Rest of Europe 55,469 58,192 27,447 26,825 26,409 US 76,268 76,567 17,337 18,273 18,374 Rest of World 53,491 54,779 ------------------------- ----------------- 93,005 91,875 89,617 262,013 271,380 24,465 20,003 18,283 Less: sales between areas 57,500 67,420 ------------------------- ----------------- 68,540 71,872 71,334 204,513 203,960 ========================= ================= Notes ----- 4. Profit before interest and taxation is after charging: Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million Production and similar taxes 96 - (34) UK 33 403 1,106 827 955 Overseas 2,462 2,586 ------------------------- ----------------- 1,202 827 921 2,495 2,989 ========================= ================= 5. Finance costs Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million 328 345 348 Interest payable 1,040 906 (159) (94) (86) Capitalized (263) (393) ------------------------- ----------------- 169 251 262 777 513 ========================= ================= 6. Other finance income Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million Interest on pension and other post-retirement 489 546 555 benefit plan liabilities 1,639 1,444 Expected return on pension and other (610) (708) (719) post-retirement benefit plan assets (2,125) (1,791) ------------------------- ----------------- (121) (162) (164) Interest net of expected return on plan assets (486) (347) 63 66 75 Unwinding of discount on provisions 208 178 Unwinding of discount on deferred consideration 6 - - for acquisition of investment in TNK-BP - 23 ------------------------- ----------------- (52) (96) (89) (278) (146) ========================= ================= Notes ----- 7. Analysis of changes in net debt Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= $ million $ million Opening balance 19,286 23,728 23,754 Finance debt 24,010 19,162 4,852 1,956 2,643 Less: Cash and cash equivalents 2,590 2,960 ------------------------- ----------------- 14,434 21,772 21,111 Opening net debt 21,420 16,202 ------------------------- ----------------- Closing balance 19,973 23,754 25,245 Finance debt 25,245 19,973 3,199 2,643 2,410 Less: Cash and cash equivalents 2,410 3,199 ------------------------- ----------------- 16,774 21,111 22,835 Closing net debt 22,835 16,774 ------------------------- ----------------- (2,340) 661 (1,724) Decrease (increase) in net debt (1,415) (572) ========================= ================= Movement in cash and cash equivalents (1,672) 661 (277) (excluding exchange adjustments) (261) 242 Net cash outflow (inflow) from financing (5) 79 (1,164) (excluding share capital) (751) (360) (515) (51) (261) Fair value hedge adjustment (342) (373) (34) (13) (21) Other movements (45) 24 ------------------------- ----------------- (2,226) 676 (1,723) Movement in net debt before exchange effects (1,399) (467) (114) (15) (1) Exchange adjustments (16) (105) ------------------------- ----------------- (2,340) 661 (1,724) Decrease (increase) in net debt (1,415) (572) ========================= ================= Notes ----- 8. TNK-BP Operational and Financial Information Third Second Third Quarter Quarter Quarter Nine Months 2006 2007 2007 2007 2006 ========================= ================= Production (Net of royalties) (BP share) 867 837 830 Crude oil (mb/d) 833 890 472 441 364 Natural gas (mmcf/d) 456 525 948 913 892 Total hydrocarbons (mboe/d)(a) 912 980 ========================= ================= $ million $ million Income statement (BP share) 2,321 1,016 1,094 Profit before interest and tax(b) 2,465 4,257 (52) (64) (67) Interest expense ... (193) (140) (651) (188) (289) Taxation (579) (1,349) (100) (78) (66) Minority interest (173) (187) ------------------------- ----------------- 1,518 686 672 Net Income 1,520 2,581 ========================= ================= ... Excludes unwinding of discount on 6 - - consideration - 23 ========================= ================= Cash Flow 2,000 500 800 Dividends received(c) 1,300 2,771 ========================= ================= Balance Sheet 30 September 31 December 2007 2006 =========================== Investments in jointly controlled entities 8,066 8,353 =========================== (a)Natural gas is converted to oil equivalent at 5.8 billion cubic feet = 1 million barrels. (b)Third quarter 2006 included a net gain of $892 million on the disposal of the Urdmurtneft assets. (c)Nine months of 2006 included $771 million declared in fourth quarter 2005. 9. Fourth quarter results BP's fourth quarter results will be announced on 5 February 2008. 10. Statutory accounts The financial information shown in this publication is unaudited and does not constitute statutory financial statements. The 2006 BP Annual Report and Accounts have been filed with the Registrar of Companies; the report of the auditors on those accounts was unqualified and did not contain a statement under section 237(2) or section 237(3) of the Companies Act 1985. Contacts -------- London United States Press Office Roddy Kennedy Ronnie Chappell +44 (0)20 7496 4624 +1 281 366 5174 Investor Relations Fergus MacLeod Rachael MacLean +44 (0)20 7496 4717 +1 212 451 8072 http://www.bp.com/investors This information is provided by RNS The company news service from the London Stock Exchange

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