BP (BP)

Profit on sale of fixed assets

        Exploration and Production $379 million (2003 $1,591 million and 2002 $531 million). The Group divested interests in a number of oil and natural gas properties in all three years. For 2004, this included interests in oil and natural gas properties in Australia, Canada and the Gulf of Mexico, and the reversal of the provision for the loss on sale of $217 million for the Desarrollo Zuli Occidental (DZO) and Boqueron fields in Venezuela (see below). For 2003, the divestment of a further 20% interest in BP Trinidad and Tobago LLC to Repsol; the sale of the Group's 96.14% interest in the Forties oil field in the UK North Sea; the sale of a package of UK Southern North Sea gas fields; and the divestment of our interest in the In Amenas gas condensate project in Algeria to Statoil. The significant element of the profit for 2002 is the gain on the redemption of certain preferred limited partnership interests BP retained following the Altura Energy common interest disposal in 2000 in exchange for BP loan notes held by the partnership.

        Refining and Marketing $107 million (2003 $89 million and 2002 $561 million). The sale of the Cushing and other pipeline interests in the US and the churn of retail assets. In 2003, the divestment of pipeline interests in the US. For 2002, the profit on the sale of the Group's interest in the Colonial pipeline in the US and the profit on the sale of a US downstream electronic payment system.

        Gas, Power and Renewables $56 million (2003 $11 million and 2002 $1,556 million). The divestment of BP's interest in two natural gas liquids plants in Canada. For 2003, the sale and leaseback of rail cars. The major part of the profit during 2002 arises from the divestment of the Group's shareholding in Ruhrgas.

        Petrochemicals nil (2003 $55 million and 2002 $27 million). For 2003, the sale of our interest in AG International Chemical Company, a purified isophthalic acid associated undertaking in Japan and other minor divestments. In 2002, the divestment of two-thirds of our interest in the European ethylene pipeline company, ARG.

        Other businesses and corporate $1,287 million (2003 $148 million and 2002 $63 million). The divestment of the Group's investments in PetroChina and Sinopec. In 2003, the Group sold its 50% interest in Kaltim Prima Coal, an Indonesian company, and certain other investments.

Profit on sale of fixed assets

        Exploration and Production $379 million (2003 $1,591 million and 2002 $531 million). The Group divested interests in a number of oil and natural gas properties in all three years. For 2004, this included interests in oil and natural gas properties in Australia, Canada and the Gulf of Mexico, and the reversal of the provision for the loss on sale of $217 million for the Desarrollo Zuli Occidental (DZO) and Boqueron fields in Venezuela (see below). For 2003, the divestment of a further 20% interest in BP Trinidad and Tobago LLC to Repsol; the sale of the Group's 96.14% interest in the Forties oil field in the UK North Sea; the sale of a package of UK Southern North Sea gas fields; and the divestment of our interest in the In Amenas gas condensate project in Algeria to Statoil. The significant element of the profit for 2002 is the gain on the redemption of certain preferred limited partnership interests BP retained following the Altura Energy common interest disposal in 2000 in exchange for BP loan notes held by the partnership.

        Refining and Marketing $107 million (2003 $89 million and 2002 $561 million). The sale of the Cushing and other pipeline interests in the US and the churn of retail assets. In 2003, the divestment of pipeline interests in the US. For 2002, the profit on the sale of the Group's interest in the Colonial pipeline in the US and the profit on the sale of a US downstream electronic payment system.

        Gas, Power and Renewables $56 million (2003 $11 million and 2002 $1,556 million). The divestment of BP's interest in two natural gas liquids plants in Canada. For 2003, the sale and leaseback of rail cars. The major part of the profit during 2002 arises from the divestment of the Group's shareholding in Ruhrgas.

        Petrochemicals nil (2003 $55 million and 2002 $27 million). For 2003, the sale of our interest in AG International Chemical Company, a purified isophthalic acid associated undertaking in Japan and other minor divestments. In 2002, the divestment of two-thirds of our interest in the European ethylene pipeline company, ARG.

        Other businesses and corporate $1,287 million (2003 $148 million and 2002 $63 million). The divestment of the Group's investments in PetroChina and Sinopec. In 2003, the Group sold its 50% interest in Kaltim Prima Coal, an Indonesian company, and certain other investments.