BP (BP)

OTHER BUSINESSES AND CORPORATE

Other businesses and corporate comprises Finance, the Group’s aluminium asset, interest income and costs relating to corporate activities.

The loss before interest and tax for the three months ended September 30, 2006 was $213 million, including inventory holding gains of $48 million, a net credit of $96 million in relation to new, and revisions to existing, environmental and other provisions and net gains of $59 million on disposals, and is after an impairment charge of $69 million and net fair value losses on embedded derivatives of $8 million. Also included in the result is a charge resulting from new, and revisions to existing, vacant space provisions. The loss before interest and tax for the three months ended September 30, 2005 was $501 million, including net gains on disposal of businesses and fixed assets of $4 million and net fair value gains on embedded derivatives of $8 million, and is after a charge of $296 million related to new, and revisions to existing, environmental and other provisions and a charge of $6 million relating to the separation of the olefins and derivatives business.

The loss before interest and tax for the nine months ended September 30, 2006 was $620 million, including inventory holding gains of $51 million, a net credit of $96 million in relation to new, and revisions to existing, environmental and other provisions, net gains of $81 million on disposals and net fair value gains on embedded derivatives of $5 million, and is after an impairment charge of $69 million. The loss before interest and tax for the nine months ended September 30, 2005 was $828 million, including net gains on disposal of businesses and fixed assets of $38 million, and is after a net charge of $274 million related to new, and revisions to existing, environmental and other provisions and the reversal of environmental provisions no longer required, a charge of $77 million relating to the separation of the olefins and derivatives business and net fair value losses of $10 million on embedded derivatives.

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OTHER BUSINESSES AND CORPORATE

Other businesses and corporate comprises Finance, the Group’s aluminium asset, interest income and costs relating to corporate activities.

The loss before interest and tax for the three months ended September 30, 2006 was $213 million, including inventory holding gains of $48 million, a net credit of $96 million in relation to new, and revisions to existing, environmental and other provisions and net gains of $59 million on disposals, and is after an impairment charge of $69 million and net fair value losses on embedded derivatives of $8 million. Also included in the result is a charge resulting from new, and revisions to existing, vacant space provisions. The loss before interest and tax for the three months ended September 30, 2005 was $501 million, including net gains on disposal of businesses and fixed assets of $4 million and net fair value gains on embedded derivatives of $8 million, and is after a charge of $296 million related to new, and revisions to existing, environmental and other provisions and a charge of $6 million relating to the separation of the olefins and derivatives business.

The loss before interest and tax for the nine months ended September 30, 2006 was $620 million, including inventory holding gains of $51 million, a net credit of $96 million in relation to new, and revisions to existing, environmental and other provisions, net gains of $81 million on disposals and net fair value gains on embedded derivatives of $5 million, and is after an impairment charge of $69 million. The loss before interest and tax for the nine months ended September 30, 2005 was $828 million, including net gains on disposal of businesses and fixed assets of $38 million, and is after a net charge of $274 million related to new, and revisions to existing, environmental and other provisions and the reversal of environmental provisions no longer required, a charge of $77 million relating to the separation of the olefins and derivatives business and net fair value losses of $10 million on embedded derivatives.

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OTHER BUSINESSES AND CORPORATE

(a)     Includes profit after interest and tax of equity-accounted entities.

Other businesses and corporate comprises Finance, the Group’s aluminium asset, interest income and costs relating to corporate activities.

The loss before interest and tax for the three months ended March 31, 2006 was $215 million, including inventory holding gains of $2 million, a gain on disposal of $1 million and net fair value gains on embedded derivatives of $8 million. The loss before interest and tax for the three months ended March 31, 2005 was $171 million and is after a charge of $43 million in respect of the separation of the olefins and derivatives business and net fair value losses on embedded derivatives of $4 million.

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Other Businesses and Corporate

        Other businesses and corporate comprises Finance, the Group's coal asset (divested October 2003), the Group's aluminium asset, its investments in PetroChina and Sinopec (both divested in early 2004), interest income and costs relating to corporate activities.

        The profit before interest and tax for 2004 includes exceptional gains of $1,287 million primarily related to the sale of our investment in PetroChina and our investment in Sinopec. The loss before interest and tax for 2003 includes net exceptional gains of $99 million, which includes a gain on the sale of our interest in PT Kaltim Prima Coal, an Indonesian coal mining company, partly offset by net losses on several small transactions. The loss before interest and tax in 2002 includes net exceptional losses of $14 million resulting from several small transactions.

        The net cost of Other businesses and corporate amounted to $973 million in 2004, $283 million in 2003 and $730 million in 2002. The operating loss for 2004 includes a charge of $225 million relating to new, and revisions to existing, environmental and other provisions, a charge of $102 million in respect of the separation of the Olefins and Derivatives business and a credit of $66 million primarily resulting from the reversal of vacant space provisions in the UK and the US. The operating loss for 2003 includes a charge of $193 million relating to new, and revisions to existing, environmental and other provisions, a credit of $648 million relating to a US medical plan and a charge of $74 million in respect of provisions for future rental payments on surplus leasehold properties. The operating loss for 2002 includes provisions of $140 million for future rentals on surplus leasehold property and a charge of $46 million for environmental liabilities in respect of a divested business.

OTHER BUSINESSES AND CORPORATE

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Other businesses and corporate comprises Finance, the Group’s aluminium asset, interest income and costs relating to corporate activities. The Group’s interests in PetroChina and Sinopec were divested in early 2004.

The loss before interest and tax for the three months ended December 31, 2005 was $403 million, and is after a charge of $57 million relating to the separation of the Olefins and Derivatives business, a charge of $4 million related to new, and revisions to existing, environmental and other provisions and net fair value losses on embedded derivatives of $3 million. The loss before interest and tax for the three months ended December 31, 2004 was $237 million, including inventory holding gains of $8 million and a credit of $66 million primarily resulting from the reversal of vacant space provisions in the UK and the US, and is after a charge of $85 million in respect of the separation of the Olefins and Derivatives business.

The loss before interest and tax for the year ended December 31, 2005 was $1,191 million including a net gain on disposal of $38 million, and is after inventory holding losses of $5 million, a net charge of $278 million relating to new, and revisions to existing, environmental and other provisions and the reversal of environmental provisions no longer required, a charge of $134 million in respect of the separation of the Olefins and Derivatives business and net fair value losses of $13 million on embedded derivatives. The profit before interest and tax for the year ended December 31, 2004 was $164 million, including inventory holding gains of $8 million, net gains on disposals of $1,164 million primarily related to the sale of our interests in PetroChina and Sinopec and a credit of $66 million primarily resulting from the reversal of vacant space provisions in the UK and the US, and is after a charge of $283 million related to new, and revisions to existing, environmental and other provisions, and a charge of $102 million relating to the separation of the Olefins and the Derivatives business.

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OTHER BUSINESSES AND CORPORATE

_______________

Other businesses and corporate comprises Finance, the Group’s aluminium asset, interest income and costs relating to corporate activities. The Group’s interests in PetroChina and Sinopec were divested in early 2004.

The loss before interest and tax for the three months ended September 30, 2005 was $452 million, including gains on disposal of businesses and fixed assets of $4 million and net fair value gains on embedded derivatives of $8 million, and is after a charge of $296 million related to new, and revisions to existing, environmental and other provisions and a charge of $6 million relating to the separation of the olefins and derivatives business. The loss before interest and tax for the three months ended September 30, 2004 was $441 million and is after a loss on disposal of $36 million related primarily to the sale of our Fabrics and Fibres business, a charge of $ 283 million related to new, and revisions to existing, environmental and other provisions and a charge of $19 million relating to the separation of the olefins and derivatives business.

The loss before interest and tax for the nine months ended September 30, 2005 was $788 million, including net gains on disposal of businesses and fixed assets of $38 million, and is after inventory holding losses of $5 million, a net charge of $274 million related to new, and revisions to existing, environmental and other provisions and the reversal of environmental provisions no longer required, a charge of $77 million relating to the separation of the olefins and derivatives business and net fair value losses of $10 million on embedded derivatives. The profit before interest and tax for the nine months ended September 30, 2004 was $400 million, including net gains on disposals of $1,158 million primarily related to the sale of our interests in PetroChina and Sinopec, a charge of $283 million related to new, and revisions to existing, environmental and other provisions and a charge of $19 million relating to the separation of the olefins and the derivatives business.

On August 10, 2005, Innovene’s Chocolate Bayou plant near Alvin, Texas, US, experienced a fire in the plant’s #2 Olefins unit. The fire resulted in the loss of production from the #2 Olefins unit. The unit produces ethylene, propylene and hydrogen and other products.

The investigation into the incident is largely complete and although the cause has not been definitively identified it appears to be a mechanical failure within the piping system of the hydrogen cold box. Recommendations for prevention and mitigation have been received and are being evaluated for technical feasibility. The unit is expected to be back in operation in the second quarter of 2006.

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Other Businesses and Corporate

        Other businesses and corporate comprises Finance, the Group's coal asset (divested October 2003), the Group's aluminium asset, its investments in PetroChina and Sinopec (both divested in early 2004), interest income and costs relating to corporate activities.

        The profit before interest and tax for 2004 includes exceptional gains of $1,287 million primarily related to the sale of our investment in PetroChina and our investment in Sinopec. The loss before interest and tax for 2003 includes net exceptional gains of $99 million, which includes a gain on the sale of our interest in PT Kaltim Prima Coal, an Indonesian coal mining company, partly offset by net losses on several small transactions. The loss before interest and tax in 2002 includes net exceptional losses of $14 million resulting from several small transactions.

        The net cost of Other businesses and corporate amounted to $973 million in 2004, $283 million in 2003 and $730 million in 2002. The operating loss for 2004 includes a charge of $225 million relating to new, and revisions to existing, environmental and other provisions, a charge of $102 million in respect of the separation of the Olefins and Derivatives business and a credit of $66 million primarily resulting from the reversal of vacant space provisions in the UK and the US. The operating loss for 2003 includes a charge of $193 million relating to new, and revisions to existing, environmental and other provisions, a credit of $648 million relating to a US medical plan and a charge of $74 million in respect of provisions

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for future rental payments on surplus leasehold properties. The operating loss for 2002 includes provisions of $140 million for future rentals on surplus leasehold property and a charge of $46 million for environmental liabilities in respect of a divested business.

OTHER BUSINESSES AND CORPORATE

Other businesses and corporate comprises Finance, the Group’s coal asset (divested in October 2003), the Group’s aluminium asset, its investments in PetroChina and Sinopec (divested in January 2004), interest income and costs relating to corporate activities.

The result before interest and tax for the three months and year ended December 31, 2004 was a loss of $227 million and a profit of $314 million respectively, compared with a profit of $465 million and a loss of $184 million for the equivalent periods in 2003. The loss for the fourth quarter of 2004 was after net exceptional losses before tax of $26 million, and the profit for the fourth quarter of 2003 included net exceptional gains before tax of $119 million. The profit for the year 2004 included net exceptional gains before tax of $1,287 million, which were associated with the sale of our interest in PetroChina for $1.65 billion and our interest in Sinopec for $0.7 billion. The loss for the year 2003 included net exceptional gains before tax of $99 million.

Total operating loss for the three months ended December 31, 2004 was $201 million and is after a charge of $83 million in respect of the separation of the Olefins and Derivatives business and a credit of $66 million primarily resulting from the reversal of vacant space provisions in the UK and the US. Total operating loss for the year ended December 31, 2004 was $973 million and is after a charge of $225 million relating to new, and revisions to existing, environmental and other provisions, a charge of $102 million in respect of the separation of the Olefins and Derivatives business and a credit of $66 million primarily resulting from the reversal of vacant space provisions in the UK and the US.

The operating result for the three months and year ended December 31, 2003 was a profit of $346 million and loss of $283 million, respectively and is after charges of $81 million and $193 million, respectively, relating to new, and revisions to existing, environmental and other provisions, a credit of $648 million in the fourth quarter relating to a US medical plan and a charge of $74 million in the fourth quarter in respect of provisions for future rental payments on surplus leasehold properties.