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BP's fourth quarter and full-year 2008 results presentation


BP's fourth quarter and full-year 2008 results were released on Tuesday 03 February 2009. This file is an audio recording of a webcast hosted by Tony Hayward, Group chief Executive and Byron Grote, Chief Financial Office, during which BP's 4Q and full-year 2008 results were discussed. Cautionary Statement Forward Looking Statements - Cautionary Statement This presentation and the associated slides and discussion contain forward looking statements, particularly those regarding continuing deepening of recession in OECD countries; lack of clarity in the short-term direction of the energy markets; a more challenging environment; expected resource replacement and reserves replacement ratio; expected emergence of the full benefits of the Fuels Value Chains; reduced international lubricants presence; reduced international lubricants presence; progress in meeting target headcount reductions; timing of expected benefits of operational and strategic momentum; dividend cover; cashflows; capital expenditure; disposal proceeds; effective tax rates; charges in Other Businesses and Corporate and DD&A charges; continuation of operational momentum; production growth; refining availability; costs; continuing focus on safe and reliable operations, simplification, cost reduction and increasing efficiency; continuing investment for the future; priorities for the use of cashflow; strategy to grow the E&P business, to turn around the downstream business, to make focused, selective and disciplined investment into Alternative Energy and to drive greater efficiency and to pay a progressive dividend in line with the underlying earnings potential. 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



Filetype: MP3 - Size: 20.27MB - Duration: 22:07 m (128 kbps 44100 Hz)