BP (BP)

Regulatory

The oil industry is subject to regulation and intervention by governments throughout the world in such matters as the award of exploration and production interests, the imposition of specific drilling obligations, environmental and health and safety protection controls, controls over the development and decommissioning of a field (including restrictions on production) and, possibly, nationalization, expropriation, cancellation or non-renewal of contract rights. We buy, sell and trade oil and gas products in certain regulated commodity markets. The oil industry is also subject to the payment of royalties and taxation, which tend to be high compared with those payable in respect of other commercial activities, and operates in certain tax jurisdictions that have a degree of uncertainty relating to the interpretation of, and changes to, tax law. As a result of new laws and regulations or other factors, we could be required to curtail or cease certain operations, or we could incur additional costs.

For more information on environmental regulation, see 

The oil industry is subject to
regulation and intervention by governments throughout the world in such matters as the
award of exploration and production interests, the imposition of specific drilling
obligations, environmental and health and safety protection controls, controls over the
development and decommissioning of a field (including restrictions on production) and,
possibly, nationalization, expropriation, cancellation or non-renewal of contract rights.
We buy, sell and trade oil and gas products in certain regulated commodity markets. The oil
industry is also subject to the payment of royalties and taxation, which tend to be high
compared with those payable in respect of other commercial activities, and operates in
certain tax jurisdictions that have a degree of uncertainty relating to the interpretation
of, and changes to, tax law. As a result of new laws and regulations or other factors, we
could be required to curtail or cease certain operations, or we could incur additional
costs.

For more information on environmental
regulation, see