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BP corporate - reported results analysis

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Report summary

Bob Dudley hailed 2017 as "one of the strongest years in BP's recent history". Underlying profits more than doubled year-on-year, with strong performance from the upstream and downstream segments. Production (excluding Rosneft) was up 12% year-on-year, while unit capital and operating costs continue to fall. The base production 'decline' rate was +0.6%. And it was a good year for exploration, with resource additions of 1 billion boe (company estimate) making 2017 BP's most successful year with the drill bit since 2004. The financial frame continued to strengthen. Gearing fell q-on-q and remains within BP's target 20-30% range. As promised, BP commenced share buybacks in Q4, fully offsetting the dilution from scrip dividends issued in Q3.

What's included

This report contains

  • Document

    BP corporate - reported results analysis

    PDF 642.95 KB

  • Document

    Shell Q4 results.xlsx

    XLSX 51.20 KB

  • Document

    BP corporate - reported results analysis

    ZIP 612.03 KB

Table of contents

  • Other BP research
    • Q4 and full-year 2017 results
    • Guidance
    • Strategy update
    • Key figures
    • Key figures
    • Key figures
  • Strategy update 2017
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A and business development
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
  • Q2 2015
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / investment
    • Operational performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
  • Pre 2013
    • Overview
    • Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Overview
    • Strategy / investment
    • Operational performance
    • Financial performance
    • M&A
    • Exploration
    • Strategy / investment
    • Operational performance
    • Financial performance
    • M&A
    • Overview
    • Guidance / Strategy
    • M&A / Business development
    • Exploration
    • Investment / Finance

Tables and charts

This report includes 3 images and tables including:

Images

  • BP: evolution of quarterly net income
  • BP: evolution of production

Tables

  • Q4 2017 results and strategy update: Table 1

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