This excerpt taken from the BP 20-F filed Jun 13, 2006.
In addition to the above A&A products, we are involved in a number of other petrochemicals products which we also transferred to the Refining and Marketing segment on January 1, 2005. PIA is used for isopolyester resins and gel coats. NDC is used for photographic film and specialized packaging. Ethyl acetate and VAM are used in coatings and textile applications.
NDC is produced at our plant in Decatur, Alabama in the USA.
In South Korea, the Asian Acetyls Company (BP 34%) operates a 150-ktepa plant producing VAM, a derivative of acetic acid.
BP operates ethyl acetate and VAM plants at Hull in the UK. The Yantze River Acetyls Company also operates an ethyl/butyl acetate plant.
This excerpt taken from the BP 20-F filed Jun 30, 2005.
In addition to the above products, we are involved in a number of other petrochemicals products which we are including within the new O&D entity. These include LLDPE and LDPE which are used in a wide range of applications including packaging, as is styrene. Ethylene oxide and ethanol are used in solvents, coatings and the automotive industry. LAOs are used as comonomers for polyethylenes and to manufacture synthetic lubricants, plasticizers, surfactants and oilfield chemicals. PAOs are used in both
synthetic lubricants and surfactants. Polybutene is used in lubricants and fuel additives. Butanediol (BDO) is used in synthetic materials and engineering plastics.
BP operates LLDPE plants at Grangemouth in the UK and Köln in Germany. The complex at Köln also produces LDPE.
We operate styrene monomer plants at Texas City, Texas in the USA and Marl in Germany. Polystyrene plants are operated at Marl in Germany, Wingles in France and Trelleborg in Sweden. Expanded polystyrene plants are operated at Wingles and Marl.
BP manufactures polybutene at Whiting, Indiana in the USA and at Lavéra, France.
LAOs are produced at our facilities in Pasadena, Texas in the USA; Joffre, Canada and Feluy, Belgium. We manufacture PAOs at our facilities in Deer Park, Texas in the USA and Feluy, Belgium.
We manufacture BDO using our proprietary technology in a world-scale plant at Lima, Ohio in the USA. This plant was sold in March 2005.
We have implemented or announced a number of structural changes that we believe should significantly improve our portfolio. The most significant changes were as follows:
The strategic purpose of the Gas, Power and Renewables segment comprises 3 elements:
The segment is organized into four main activities: marketing and trading; natural gas liquids (NGL); new market development and LNG; and solar and renewables. As previously reported, on January 1, 2004, a number of worldwide NGL producing assets were transferred to Gas, Power and Renewables from the Exploration and Production segment in order to consolidate the management of our global NGL activity. The transferred assets included seven gas processing plants, six of which are located in the mid-continent of the United States in the Permian, Anadarko and Hugoton basins, and one in Northern Europe as well as the BP partnership interest in the construction of a gas processing plant, NGL storage and export facilities in Egypt. The 2003 and 2002 data below has been restated to reflect this transfer.
We seek to maximize the value of our gas by targeting higher value customer segments in selected markets and to optimize supply around our physical and contractual rights to assets. Marketing and trading activities are focused on the relatively open and deregulated natural gas and power markets of North America, the United Kingdom and certain parts of continental Europe. Some small elements of long-term natural gas contracting activity are also still included within the Exploration and Production business segment because of the nature of gas markets and the long-term sales contracts.
Our NGLs business is engaged in the processing, fractionation and marketing of ethane, propane, butanes and pentanes extracted from natural gas. Our NGL activity is underpinned by our upstream asset base and serves third-party markets for both chemicals and clean fuels and also supplies BP's petrochemicals and refining activities.
New market development and LNG activities involve developing opportunities to capture sales for our upstream natural gas resources and are conducted in close collaboration with the Exploration and Production business. Our strategy is to capture a greater share of the growth in the international demand for natural gas and is focused on markets which offer significant prospects for growth. These include the USA, Canada, UK, Spain and many of the emerging markets of the Asia Pacific region, notably China, where we believe there could be substantial growth in demand. For our undeveloped gas resources, we believe the key is to gain markets ahead of supply with a longer-term aim of allowing natural gas resources to move into the market with the same ease that oil does today. Our LNG activities involve the marketing of BP and third-party LNG.
Our solar and renewables activities include the development, production and marketing of solar panels and the development of wind farms on certain Group sites.
Other activities include gas-fired power generation projects, where our principal focus is on projects that will utilize our equity natural gas. Projects that will reduce Group power costs and/or reduce overall emissions are also a key focus area.
Capital expenditure and acquisitions for 2004 was $538 million compared with $441 million in 2003 and $448 million in 2002. Excluding acquisitions, capital expenditure for 2004, 2003 and 2002 was $538 million, $441 million and $375 million, respectively. Capital expenditure excluding acquisitions for 2005 is planned to be around $300 million; the reduction versus the 2004 level is due to lower spending on the Guangdong terminal in China, the power project in Korea and payments for the construction of new LNG ships.
Our policy toward natural gas price risk is described in Item 11 Quantitative and Qualitative Disclosures about Market Risk on page 167.