SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 

dated September 7, 2005

 

BP p.l.c.

(Translation of registrant’s name into English)

 

1 ST JAMES’S SQUARE, LONDON, SW1Y 4PD, ENGLAND

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

 

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO.  333-9790) OF BP p.l.c., THE PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO.  333-65996), THE PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-110203) OF BP p.l.c., THE PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO.  333-83180) OF BP AUSTRALIA CAPITAL MARKETS LIMITED, BP CANADA FINANCE COMPANY, BP CAPITAL MARKETS p.l.c., BP CAPITAL MARKETS AMERICA INC.  AND BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  33-21868) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-9020) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-9798) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-79399) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-34968) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-67206) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-74414) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-103924) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-102583) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO.  333-103923) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-119934) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-123482) OF BP p.l.c., AND THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-123483) OF BP p.l.c., AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

 

 

BP p.l.c. AND SUBSIDIARIES

US GAAP CONDENSED FINANCIAL INFORMATION

 

The Securities and Exchange Commission has amended Form 20-F to provide four options for foreign private issuers that are first-time adopters of International Financial Reporting Standards (IFRS) and are required to provide interim financial statements in Securities Act or Exchange Act documents used after nine months from the financial year end.  BP is using the US GAAP condensed financial information option.  This option allows foreign companies to use condensed US GAAP financial information to bridge the gap in interim financial information between previous GAAP and IFRS.  The condensed US GAAP financial information provides a level of detail consistent with that required by Article 10 of Regulation S-X for interim financial statements and should be read in conjunction with the unaudited interim financial statements and notes included in BP’s Form 6-K for the period ended June 30, 2005.

 

The following financial information is the unaudited US GAAP condensed financial information of BP for the six month periods ended June 30, 2005 and 2004, for the year ended December 31, 2004 and as at June 30, 2005, December 31, 2004 and June 30, 2004.

 

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BP p.l.c. AND SUBSIDIARIES

US GAAP CONDENSED FINANCIAL INFORMATION

CONSOLIDATED STATEMENT OF INCOME

(UNAUDITED)

 

		Six months ended June 30				Year ended December 31
		2005		2004		2004
		($ million, except per share amounts)
Sales and other operating revenues		165,815		138,775		284,932
Earnings from jointly controlled entities – after interest and tax		1,064		790		1,952
Earnings from associates – after interest and tax		218		204		463
Interest and other revenues		353		250		673
Total revenues		167,450		140,019		288,020
Gain on sale of businesses and fixed assets		1,400		1,615		1,904
Total revenues and other income		168,850		141,634		289,924
Purchases		125,965		106,383		217,364
Production and manufacturing expenses		11,916		10,153		20,163
Production and similar taxes		1,346		949		2,149
Depreciation, depletion and amortization		4,751		4,593		11,190
Impairment and losses on sale of businesses and fixed assets		299		779		1,735
Exploration expense		299		244		637
Distribution and administration expenses		6,683		5,966		13,619
Fair value (gain) loss on embedded derivatives		743		—		—
Profit before interest and taxation		16,848		12,567		23,067
Interest payable		290		193		440
Other finance expense		34		52		132
Profit before taxation		16,524		12,322		22,495
Taxation		4,758		3,295		5,470
Profit for the period		11,766		9,027		17,025
Attributable to:
BP shareholders		11,636		8,951		16,838
Minority interest		130		76		187
		11,766		9,027		17,025
Earnings per share – cents
Profit attributable to BP shareholders
Basic		54.48		40.69		77.16
Diluted		53.73		39.85		75.81
Earnings per American Depository share - cents
Profit attributable to BP shareholders
Basic		326.88		244.14		462.96
Diluted		322.38		239.10		454.86

 

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BP p.l.c. AND SUBSIDIARIES

US GAAP CONDENSED FINANCIAL INFORMATION

CONSOLIDATED BALANCE SHEET

(UNAUDITED)

 

		At June 30,		At December 31,		At June 30,
		2005		2004		2004
		($ million)
Noncurrent assets
Property, plant and equipment		95,028		97,079		93,546
Goodwill		11,227		11,537		10,888
Other intangible assets		4,557		4,244		4,795
Investments in jointly controlled entities		14,547		14,768		15,144
Investments in associates		5,713		5,486		5,326
Other investments		748		811		674
Fixed assets		131,820		133,925		130,373
Loans and other receivables		12,415		9,523		9,862
		144,235		143,448		140,235
Current assets
Inventories		17,773		15,745		12,512
Trade and other receivables		46,339		44,282		33,239
Current tax receivable		155		157		79
Cash and cash equivalents		1,360		1,359		1,590
		65,627		61,543		47,420
Total assets		209,862		204,991		187,655
Current liabilities
Trade and other payables		51,770		48,850		38,637
Finance debt		6,506		10,184		7,393
Current tax payable		5,269		4,131		4,658
Provisions		1,423		715		865
		64,968		63,880		51,553
Noncurrent liabilities
Other payables		8,175		4,459		5,700
Finance debt		13,317		13,250		12,842
Deferred tax liabilities		20,349		20,943		21,513
Provisions		15,515		16,361		14,590
		57,356		55,013		54,645
Total liabilities		122,324		118,893		106,198
Net assets		87,538		86,098		81,457
Capital shares
Preference		21		21		21
Ordinary		5,294		5,382		5,447
Paid-in surplus		6,645		6,366		4,785
Merger reserve		27,183		27,162		27,131
Other reserves		23		44		75
Shares held by ESOP trusts		(115	)	(82	)	(65	)
Revaluation of available-for-sale investments		209		—		—
Cash flow hedges		(278	)	—		—
Exchange differences on translation of foreign operations		3,254		5,616		3,309
Treasury shares		(3,286	)	—		—
Share-based payments		552		434		320
Retained earnings		46,864		39,812		39,202
BP shareholders’ equity		86,366		84,755		80,225
Minority interest		1,172		1,343		1,232
Total equity		87,538		86,098		81,457

 

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SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

BP p.l.c.
(Registrant)

 

 

Dated:  September 7, 2005	/s/ D J Pearl
	D J PEARL  Deputy Company Secretary

 

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