BP's second quarter 2008 results were released on Tuesday 29 July 2008. This file is an audio recording of a webcast hosted by Tony Hayward, Chief Executive Officer and his senior level colleagues during which BP's 2Q results were discussed. Forward Looking Statements - Cautionary Statement This presentation and the associated slides and discussion contain forward looking statements, particularly those regarding oil and gas prices and impact of price changes; continuing operational momentum; underlying production growth and effects of production-sharing agreements; expected start up and timing of projects; impact of seasonal turnarounds on volumes and costs; expected financial benefits of higher refinery throughputs; expected benefit from continued increase in refining availability; impact of higher energy costs and planned turnarounds on refinery earnings; impact of slowing economies and rising wholesale prices on marketing businesses; expected growth in oil demand; impact of planned refinery startup on global gasoline supplies; reduction in corporate overheads; expected timing of financial benefits of lower overheads and simplified business model; annual charge; effective tax rate. 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 changes in 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 this presentation. 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-proved 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. 1-06262, 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: 76.55MB - Duration: 1:23:37 m (128 kbps 44100 Hz)