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BP » Topics » Insurance

This excerpt taken from the BP 20-F filed Jun 13, 2006.

Insurance

        The Group generally restricts its purchase of insurance to situations where this is required for legal or contractual reasons. This is because external insurance is not considered an economic means of financing losses for the Group. Losses will therefore be borne as they arise rather than being spread over time through insurance premia with attendant transaction costs. The position will be reviewed periodically.

98


LIQUIDITY AND CAPITAL RESOURCES

This excerpt taken from the BP 20-F filed Jun 30, 2005.

Insurance

        The Group generally restricts its purchase of insurance to situations where this is required for legal or contractual reasons. This is because external insurance is not considered an economic means of financing losses for the Group. Losses will therefore be borne as they arise rather than being spread over time through insurance premia with attendant transaction costs. The position will be reviewed periodically.

91


LIQUIDITY AND CAPITAL RESOURCES

EXCERPTS ON THIS PAGE:

20-F
Jun 13, 2006
20-F
Jun 30, 2005

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Murphy Oil (MUR)
Noble Corporation (NE)
Ormat Technologies (ORA)
Pride International (PDE)
Pioneer Natural Resources Company (PXD)
STATOIL ASA (STO)
Total S.A. (TOT)
Weatherford International (WFT)
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