BP's 2nd quarter results were released on Tuesday 25 July 2006. This file is an audio recording of a webcast hosted by Lord Browne, Group Chief Executive and Byron Grote, Chief Financial Officer during which BP's 2Q results were discussed. Forward looking statements and cautionary statement "StatementThis presentation and the associated slides and discussion contain forward-looking statements, particularly those regarding oil and gas prices; US gas consumption; refining margins and global indicator margins; the effect of sector-specific cost inflation; investment in safety and operational integrity; the receipt of approvals for, and start-up of production from, Thunder Horse; the timing of other major projects and their contribution to expected production, their estimated reserves and production capacity; production; the expected movement of non-proven resources to proved reserves; divestments and their effect; the re-commissioning of the Texas City refinery and the realisation of its full financial potential; spending on US refinery integrity; capital expenditure; cash flow; the impact of the UK North Sea tax rate and the expected Group effective tax rate; gearing; and dividends, share buybacks and other distributions to shareholders. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors, including the timing of bringing new fields on stream; future levels of industry product supply; demand and pricing; operational problems; general economic conditions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; changes in public expectations and other changesin business conditions; the actions of competitors; natural disasters and adverse weather conditions; wars and acts of terrorism or sabotage; and other factors discussed elsewhere in thispresentation. Reconciliations to GAAP This presentation also contains financial information which is not presented in accordance with generally accepted accounting principles (GAAP).A quantitative reconciliation of this information to the most directly comparable financial measure calculated and presented in accordance with GAAP can be found on our website at www.bp.com Cautionary Note to US Investors The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as “resources”and “non-proven reserves”, that the SEC’s guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-6262, available from us at 1 St. James’s Square, London SW1Y 4PD. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
Filetype: MP3 - Size: 9.79MB - Duration: 28:30 m (48 kbps 44100 Hz)