英国石油公司BP市场前景及投资研究报告-培训课件外文版2024.6

COMPANIES

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PRODUCTSBPCHAPTER

01OverviewOilproductionworldwidefrom1998to2022(in1,000barrelsperday)Globaloilproduction1998-2022100,00090,00080,00070,00060,00050,00040,00030,00020,00010,00001998

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20223Description:Globaloilproductionamountedto93.9millionbarrelsperdayin2022.Thelevelofoilproductionreachedanall-timehighin2019,atnearly95millionbarrels.However,thecoronaviruspandemicanditsimpactontransportationfueldemandledtoanotabledeclineinthefollowingyear.ReadmoreNote(s):Worldwide;1998to2022Source(s):EnergyInstitute;Kearney;KPMGNaturalgasproductionworldwidefrom1998to2023(inbillioncubicmeters)Globalnaturalgasproduction1998-20234,5004,0003,5003,0002,5002,0001,5001,00050001998

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20234Description:Globalnaturalgasproductionamountedtosome4.08trillioncubicmetersin2023,signifyingaslightdecreasecomparedtothepreviousyear.TheUnitedStates,Russia,andandIranaresomeoftheworld'slargestnaturalgasproducers.

ReadmoreNote(s):Worldwide;1998to2023Source(s):BP;IEASelectedoilcompaniesworldwiderankedbydailycrudeoilproductionasof2022(in1,000barrelsofoilperday)Selectedglobaloilcompaniesbydailyproduction2022Productioninthousandbarrelsperday2,000

4,000

6,00008,00010,00012,00014,00016,000SaudiAramco(SaudiArabia)PetroChina(China)**ExxonMobil(U.S.)13,6002,4822,354Petrobras(Brazil)2,142Pemex(Mexico)1,7641,700ConocoPhillips(U.S.)Shell(Netherlands)1,4601,4401,112769Chevron(U.S.)BP(UK)*ChinaPetroleum&Chemical[Sinopec](China)**Total(France)1.525Description:SaudiAramcoistheworld'slargestoilcompanybasedondailyoilproduction.Inthe2022fiscalyear,SaudiArabia'sstate-ownedoilcompanyreportedacrudeoiloutputofsome13.6millionbarrelsperday.Thiswasoverathreefoldincreasefromtheamountextractedbyitsclosestcompetitor.ReadmoreNote(s):Worldwide;2022;respectivecompanyfiscalyearsended2022.Figuresingrayexplicitlyincludenaturalgasliquids;*FigureforBPmanuallyaddedfromsubsidiaryandBPshareofequity-accountedentitiesdata.FiguresforPetroChinaand[...]

ReadmoreSource(s):Varioussources(companydata)CHAPTER

02FinancialsOperatingrevenueofBPfrom2005to2023(inmillionU.S.dollars)BP'soperatingrevenue2005-2023400,000350,000300,000250,000200,000150,000100,00050,00002005

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20237Description:BPgeneratedanoperatingrevenueof210.13billionU.S.dollarsin2023.Thiswasadecreaseofsome30billionU.S.dollarsfromthepreviousyear.BPisagloballyoperatingoilandgascompanyandcountedamongtheoilsupermajorsorBigOilcompanies-thelargestpubliccompanieswithintheindustry.ItisheadquarteredinLondon,UnitedKingdom.Operatingasaverticallyintegratedcompany,BPisactiveinallareasoftheoilandgassupplychain,fromexplorationtorefining,[...]ReadmoreNote(s):Worldwide;2005to2023;includessalesandotheroperatingrevenues.Source(s):BPNetincome/lossofBP2005to2023(inmillionU.S.dollars)BP'snetprofit2005-202330,00020,00010,0000-10,000-20,000-30,0002005

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20238Description:BPreportedanetprofitattributabletoshareholdersof15.2billionU.S.dollarsin2023.Thiswasthecompany'shighestnetincomesince2013.Bycomparison,2020wasthecompany'sleastprofitableyear,asmanyotherswithintheoilandgassectorstruggledwithreducedfueldemandduetothepandemic.ReadmoreNote(s):Worldwide;2005to2023;profitattributabletoBPshareholders.Source(s):BPBrandvalueofBPfrom2015to2024(inmillionU.S.dollars)BP'sbrandvalue2015-202425,00023,26722,67521,36719,61020,00015,00010,0005,000018,85719,00118,53316,96216,65414,74320152016201720182019202020212022202320249Description:BPhadanestimatedbrandvalueof18.53billionU.S.dollarsin2024.Intheperiodofconsideration,thecompany'shighestbrandvaluewasrecordedin2020,whenitreachedover23billionU.S.dollars.BPrankedfifthamongthemostvaluableoilandgascompaniesworldwidein2024.ReadmoreNote(s):Worldwide;2015to2024Source(s):BrandFinanceTotalassetsofBPfrom2010to2023(inmillionU.S.dollars)BP'stotalassets2010-2023350,000300,000250,000200,000150,000100,00050,00002010201120122013201420152016201720182019202020212022202310/statistics/302497/bp-group-total-assetsBPheldapproximately280.3billionU.S.dollarsintotalassetsin2023.Thecompany'stotalassetsincreasedslightlyfromthepreviousyear.Intheperiodofconsideration,BPreportedthegreatesttotalassetsin2013,at305.7billionU.S.dollars.

ReadmoreNote(s):Worldwide;2010to2023Source(s):BPProfit/lossbeforeinterestandtaxationofBPfrom2010to2023(inmillionU.S.dollars)BP'sEBIT2010-202350,00040,00030,00020,00010,00039,81731,76927,34819,76919,37818,08218,03911,7069,4746,4120-430-3,702-10,000-20,000-30,000-7,9182015-21,740202020102011201220132014201620172018201920212022202311Description:BPreportedaprofitbeforeinterestandtaxationofroughly27.3billionU.S.dollarsin2023.TheUnitedKingdom-basedoilandgassupermajorgeneratedlossesintheyearsofoilcrisissuchasbetween2015and2016,whentheoilglutledtoafallinoilpricesandin2020,whenthecoronaviruspandemicgreatlyaffectedtransportationfueldemand.ReadmoreNote(s):Worldwide;2010to2023Source(s):BPDividendspershareofBP2010to2023(inU.S.cents)BP'sdividendspershare2010-2023454140.5404040394035302520151036.53331.52827.7622.921.4142010201120122013201420152016201720182019202020212022202312Description:In2023,BP'sdividendspersharewas27.76U.S.cents.Thiswasthehighestfiguresince2020,andupby5U.S.centscomparedtothelowreportedin2021.Thelowestdividendspersharewasreportedin2010,theyearfollowingBP'sDeepwaterHorizonoilspill.BPisagloballyoperatingoilandgascompanyandoneofthelargestpublicentitieswithintheindustry.ItisheadquarteredinLondon,UnitedKingdom.ReadmoreNote(s):Worldwide;2010to2023Source(s):BPNumberofemployeesofBPfrom2011to2023BP'semploymentfigures2011-2023100,00087,80090,00080,00070,00060,00050,00040,00030,00020,00010,000086,40084,10083,90084,50079,80074,50074,00073,00070,10067,60065,90063,600201120122013201420152016201720182019202020212022202313Description:BPemployed87,800peopleasofDecember31,2023.Between2022and2023,BPhiredmorethan20,000people.Thiswasthesteepestyear-over-yearincreaseintheperiodofconsideration.

ReadmoreNote(s):Worldwide;2011to2023;asofDecember31ofeachyear.Source(s):BPCHAPTER

03SegmentsReservesandproductionofliquidsofBPfrom2011to2023BP'sreservesandproductionofliquids2011-2023Reserves

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day20112012201320142015201620172018201920202021202220231056510050100709817215720562013191720072048226021912211210619511214111595601033310672114561147810661101243997374715Description:BPheldprovedliquidsreservesofroughly3.7billionbarrelsin2023.Thiswasadrasticdecreasecomparedtothetenbillionbarrelsreportedin2021andcomparedtoadailyliquidsproductionofsome1.1millionbarrels.BPisagloballyoperatingoilandgascompanyandoneofthelargestpubliclytradedcompanieswithintheindustry.ItisheadquarteredinLondon,UnitedKingdom.ReadmoreNote(s):Worldwide;2011to2023;liquidscomprisecrudeoil,condensate,NGLsandbitumen.Source(s):BPNaturalgasreservesandproductionofBPfrom2011to2023BP'snaturalgasreservesandproduction2011-2023Reserves

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day201120122013201420152016201720182019202020212022202341659403054597544695441974336845060492394560142467396151848117471751873937060710071467075774486599102792979157101694416Description:BPheld17.5billioncubicfeetinnaturalgasreservesin2023.Bycomparison,itsnaturalgasproductionwas6.9billioncubicfeetperday.BPisagloballyoperatingoilandgascompany,headquarteredinLondon,UnitedKingdom.

ReadmoreNote(s):Worldwide;2011to2023Source(s):BPOilproductionofBPfrom2015to2023,byregion(in1,000barrelsperday)BP'soilproduction2015-2023,byregionNorthAmerica2,500AsiaAfricaEuropeAustralasiaSouthAmericaEquity-accountedentities(BPshare)2,0001,5001,000500020152016201720182019202020212022202317Description:BPproducedonemillionbarrelsofoilperdayin2023.ThisrepresentedthelowestproductionvolumeintheperiodofconsiderationandwaslargelytheresultofdivestingofRosneftshares.From2021onwards,NorthAmericabecamethecompany'slargestproducingregion,accountingfor335,000barrelsofdailyoutputin2023.BPisamultinationalcompanyheadquarteredintheUnitedKingdomandactiveinallareasoftheoilandgassupplychain,includingpowergeneration.Its[...]ReadmoreNote(s):Worldwide;2015to2023;includingcondensates.Source(s):BPAveragecrudeoildistillationcapacityofBPfrom2011to2023(in1,000barrelsperday)BP'scruderefinerycapacity2011-20233,0002,6792,5001,9401,9551,9571,9092,0001,5001,0005001,8801,8921,8901,9061,8531,7511,6371,557020112012*2013201420152016201720182019202020212022202318Description:BPhadanoilrefinerycapacityof1.56millionbarrelsperdayin2023.Intheperiodofconsideration,BPsoldinterestsinrefineriesandreduceditsdailycapacitybymorethanonemillionbarrelsperday.Meanwhile,BP'stotalrefinerythroughputamountedtoaround1.4millionbarrelsperdaythatyear.ReadmoreNote(s):Worldwide;2011to2023;*Notcountingcapacitiesheldforsale.FiguresrefertoBP'sshareofrefinerycapacitiesatyearend.FiguresexcludePanAmericanEnergyGroupshares.

ReadmoreSource(s):BPTotalrefinerythroughputofBPfrom2010to2023(in1,000barrelsperday)BP'srefinerythroughputs2010-20233,0002,4262,5002,0001,5001,0005002,3522,3541,7911,7491,7211,7251,7051,7021,6851,6271,5941,5041,41102010201120122013201420152016201720182019202020212022202319Description:BPreportedatotalrefinerythroughputof1.4millionbarrelsperdayin2023.Thiswasadecreasecomparedtothepreviousyearandthelowestfigureintheperiodofconsideration.TheUnitedKingdom-basedoilandgasproducerisoneofthelargestpublicly-tradedcompanieswithintheoilandgasindustry.ReadmoreNote(s):Worldwide;2010to2023Source(s):BPRenewableenergycapacityinstalledandinthepipelineofBPfrom2020to2023(ingigawatts)BP'sinstalledandplannedrenewablescapacity2020-2023InstalledcapacityPipeline70605040302058.337.223.110.9102.71.92.21.50202020212022202320/statistics/1455879/bp-installed-and-planned-renewables-capacityBPreportedaninstalledrenewablescapacityof2.7gigawattsattheendof2023.Inaddition,theoilsupermajorhassome58.3gigawattsofrenewableenergyinthepipeline.BPhasgrownitsrenewableenergycapacityineveryyearoverthelastdecade.ReadmoreNote(s):Worldwide;2020to2023;AsofQ4ofeachyear.Source(s):BPRevenueofBP'supstreambusinesssegmentfrom2010to2023(inmillionU.S.dollars)BP'sUpstreamdivisionrevenue2010-2023100,00090,00089,44880,00070,00060,00050,00040,00030,00020,00010,000075,75475,20172,22570,37466,26665,42456,39955,35954,50145,44043,23534,19733,188201620102011201220132014201520172018201920202021*2022202321Description:BPgenerated75.2billionU.S.dollarsinrevenuesthroughitsupstreamandlow-carbonenergybusinesssegmentin2023.Thiswasadecreasecomparedtothepreviousyear.2020sawa20billionU.S.dollarsdropasaresultofthatyear'soilcrisisbroughtaboutbythecoronaviruspandemic.In2021,BPrestructureditssegments,includinglow-carbonproducts,suchaslow-carbonelectricity,bioenergy,carboncaptureandstorage,andhydrogenwithinitsgasupstreamsector.Low-carbon[...]

ReadmoreNote(s):Worldwide;2010to2023;includessalesandotheroperatingrevenues.;*InJanuary2021,BPrestructureditssegments.Therefore,from2021onwards,figuresincludethegas&low-carbonenergyandoilproduction&operations.In[...]

ReadmoreSource(s):BPRevenueofBP'sdownstreambusinesssegmentfrom2010to2023(inmillionU.S.dollars)BP'sdownstreamdivisionrevenue2010-2023400,000350,000300,000250,000200,000150,000100,00050,0000201020112012201320142015201620172018201920202021*2022202322Description:BP'sdownstreambusinesssegmentgeneratedarevenueof160.2billionU.S.dollarsin2023.BPisagloballyoperatingoilandgascompany,headquarteredinLondon,UnitedKingdom.ThemajorityofBP'soperatingrevenuewasgeneratedthroughitsdownstreamdivision.ReadmoreNote(s):Worldwide;2010to2023;includessalesandotheroperatingrevenues.;*InJanuary2021,BPrestructureditssegments.Therefore,from2021onwards,thesegmentisknownas'customers&products'.Thisstatisticwasassembledfrom[...]

ReadmoreSource(s):BPRevenueofBP'scorporateandotherbusinessesfrom2010to2023(inmillionU.S.dollars)BP'scorporateandotherbusinesses2010-20233,5003,0002,5002,0001,5001,0005003,3282,9572,6572,2992,0481,9851,9891,8051,7881,7161,7241,6671,6781,46902010201120122013201420152016201720182019202020212022202323Description:In2023,BPgenerated2.7billionU.S.dollarsinrevenuethroughitscorporatesegmentandbusinessesotherthanupstreamanddownstream.ThemajorityofBP'soperatingrevenuewasgeneratedthroughitsdownstreamdivision.

ReadmoreNote(s):Worldwide;2010to2023;includessalesandotheroperatingrevenues.Source(s):BPCHAPTER

04CompanyexpendituresCapitalexpenditureofBPfrom2015to2023(inmillionU.S.dollars)BP'scapex2015-202330,00025,08825,00019,45819,42120,00015,00010,0005,000017,84017,45216,33016,25314,05512,84820152016201720182019202020212022202325Description:BPspentsome16.3billionU.S.dollarsincapitalinvestmentsin2023.Thiswasasimilaramounttothepreviousyear,butstillbelowpre-pandemicspending.Thecoronaviruspandemicandresultingoversupplyandloweroilpriceshadgreatimpactsonspendingabilitieswithintheoilandgasindustry.ReadmoreNote(s):Worldwide;2015to2023;capitalexpenditurereferstoorganiccapitalexpenditureandinorganiccapitalexpenditure.Source(s):BPResearchanddevelopmentexpenditureofBPfrom2010to2023(inmillionU.S.dollars)BP'sR&Dspending2010-202390078080070060050040030020010007076746636364294184003913643322982742662010201120122013201420152016201720182019202020212022202326Description:BP'sresearchanddevelopmentspendingreached298millionU.S.dollarsin2023.Thiswasanincreasecomparedtothepreviousyear,at274millionU.S.dollars.BPisagloballyoperatingoilandgascompany,andoneofthelargestwithintheindustry.ItisheadquarteredinLondon,UnitedKingdom.ReadmoreNote(s):Worldwide;2010to2023Source(s):BPExplorationexpensesofBPfrom2010to2023(inmillionU.S.dollars)BP'sexplorationspending2010-202312,00010,28010,0008,0006,0003,63220144,0002,00003,44120132,35320152,08020171,72120161,52020111,47520121,445201896499784358542420102019202020212022202327Description:BPspent997millionU.S.dollarsonexplorationventuresin2023,anincreaseofmorethan400millionU.S.dollarscomparedtothepreviousyear.BP'sexplorationexpensesamountedto10.3billionU.S.dollarsin2020,whichrepresentedthehighestintheconsideredperiod.ReadmoreNote(s):Worldwide;2010to2023Source(s):BPCHAPTER

05CompetitorsLeadingoilandgascompaniesworldwidebasedonrevenueasof2023(inbillionU.S.dollars)Leadingglobaloilandgasproducersbasedonrevenue2023RevenueinbillionU.S.dollars050100150200250300350400Sinopec,China*PetroChina,ChinaExxonMobil,U.S.ShellPLC,UK372.52357.01313.9305.57TotalEnergies,FranceBP,UK204.96197.56184.75Chevron,U.S.MarathonPetroleum,U.S.Valero,U.S.139.66138.64Phillips66,U.S.133.81Equinor,NorwayEniSpA.,Italy113.08109.06Petrobras,BrazilIndianOilCorporationLtd,IndiaLukoil,Russia104.1391.890.7429Description:Sinopec(ChinaPetroleum&ChemicalCorporation)istheleadingglobaloilandgascompanybyrevenuesgenerated.Inits2022fiscalyear,theChinesestate-ownedenterprisegenerated372.5billionU.S.dollarsinrevenues.

ReadmoreNote(s):Worldwide;2022Source(s):ThomsonReuters;Varioussources(companydata)Leadingoilandgascompaniesworldwidebasedonnetincomeasof2023(inbillionU.S.dollars)Leadingglobaloilandgasproducersbasedonnetincome2023NetincomeinbillionU.S.dollars15

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250510303540455055ExxonMobil,U.S.Shell,UK49.0534.93Petrobras,BrazilChevron,U.S.29.6628.46Equinor,NorwayBP,UK23.0722.24PetroChina,ChinaTotalS.A.,FranceCNOOC,China17.1816.5715.57MarathonPetroleumCorp,,U.S.ConocoPhillips,U.S.EniSpA,Italy12.9812.610.8510.85ValeroEnergyCorp,U.S.30Description:ExxonMobilwastheleadingoilandgasproducingcompanyworldwidebynetincomeasofdatafromJune2023.Whencomparedwithdataforthe2021fiscalyear,manyoilsupermajorswerebackamongstthemostprofitableoilandgascompaniesafterreboundingfromlossescausedbytheCOVID-19pandemic.BigOilcompanieslikeExxonMobil,BP,andShellrecordedhistoricnetlossesin2020,someforthefirsttimeever,asthecoronaviruspandemicanditseffectonfueldemandmadeit[...]

ReadmoreNote(s):WorldwideSource(s):ThomsonReuters;Varioussources(companydata)LeadingoilandgascompaniesworldwidebasedonmarketcapitalizationasofDecember2023(inbillionU.S.dollars)LeadingglobaloilandgasproducersbasedonmarketcapDecember2023MarketcapitalizationinbillionU.S.dollars050100150200250300350ExxonMobil,U.S.Chevron,U.S.309.75212.87RoyalDutchShell,UKRelianceIndustries,IndiaPetroChina,China162.29158.39132.36125.11TotalEnergies,FranceConocoPhillips,U.S.104.53BP,UKPetrobras,BrazilEquinor,Norway77.772.9372.35ChinaPetroleum&ChemicalCorp.(Sinopec),ChinaChinaShenhua,ChinaCNOOC,China66.3964.562.98EnbridgeIncSchlumberger,U.S.58.7554.9731Description:ExxonMobilhasthehighestmarketcapitalizationofanyoilandgasproducerworldwide.AsofDecember8,2023,theUnitedStates-basedcompanyhadamarketcapof309.75billionU.S.dollars.

ReadmoreNote(s):Worldwide;asofDecember8,2023Source(s):ThomsonReuters;Varioussources(companydata)Brandvalueofleadingoilandgascompaniesworldwidein2024(inmillionU.S.dollars)Leadingoilandgascompanies'brandvalueworldwide2024BrandvalueinmillionU.S.dollars010,00020,00030,00040,00050,00050,30260,000ShellSaudiAramcoPetroChinaSinopec41,56228,50026,651BP18,53317,00916,75415,226TotalEnergiesEquinorAdnocChevron14,80614,561Petronas32Description:Shellhasthehighestbrandvalueofanyoilandgascompanyworldwide.In2024,itsbrandvaluewasestimatedat50.3billionU.S.dollars.ThisputitnotablyaheadofitsBigOilcompetitors,aswellasstate-ownedenterprisessuchasAramco.

ReadmoreNote(s):WorldwideSource(s):BrandFinanceCHAPTER

06DeepwaterHorizonoilspillQuantityofdisposedoilaftertheDeepwaterHorizonoilspillintheGulfofMexicoasof2010(inbarrels)OilspillintheGulfofMexico-disposedoilasof20106,000,0005,000,