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This excerpt taken from the BP 6-K filed Feb 3, 2009. Resegmentation
This excerpt taken from the BP 6-K filed Oct 28, 2008. Resegmentation
These excerpts taken from the BP 6-K filed Jul 29, 2008. Resegmentation
On 11 October 2007, we announced our intention to simplify the organizational structure of BP. From
1 January 2008, there are only two business segments -
Exploration and Production and Refining and Marketing. A separate business, Alternative
Energy, handles BP's low-carbon businesses and future growth options outside oil and gas.
This includes solar, wind, gas-fired power, hydrogen, biofuels and coal
conversion.
As a result, and with effect from 1 January 2008:
As a result of the transfers identified above, Other businesses and corporate has been redefined. It now consists of the Alternative Energy business, Shipping, the group's aluminium asset, Treasury (which includes interest income on the group's cash and cash equivalents) and corporate activities worldwide.
Financial information for 2003 to 2007 has been restated to
reflect the resegmentation and is available in
BP Financial and Operating Information
2003-2007 and to download from
www.bp.com/investors
. Quarterly data is provided for 2004-2007 and annual data for
2003.
Top of page 24
Resegmentation
This excerpt taken from the BP 6-K filed Mar 13, 2006. Note 4 - Resegmentation
With effect from January 1, 2005 there have been the following changes to the business segments reported by the Group:
The Olefins and Derivatives business is reported within Other businesses and corporate. This reorganization was a precursor to seeking to divest the Olefins and Derivatives business. As indicated in Note 5, during 2005 we divested Innovene and show its activities as discontinued operations in these accounts. Innovene represented the majority of the Olefins and Derivatives business.
Comparative financial and operating information is shown after resegmentation, the change in accounting policy (see Note 6) and the adoption of International Financial Reporting Standards.
- 36 -
BP p.l.c. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - continued
This excerpt taken from the BP 6-K filed Nov 17, 2005. Note 4 - Resegmentation
With effect from January 1, 2005 there have been the following changes to the business segments reported by the Group.
Comparative financial and operating information is shown after resegmentation and the adoption of International Financial Reporting Standards.
This excerpt taken from the BP 6-K filed Sep 7, 2005. Note 4 - Resegmentation
With effect from January 1, 2005 there have been the following changes to the business segments reported by the Group.
(a) The petrochemicals operations have been divided between the Refining and Marketing segment and Other businesses and corporate. The aromatics and acetyls businesses and the petrochemicals assets that are integrated with our Gelsenkirchen refinery in Germany are now part of Refining and Marketing. The olefins and derivatives business is now reported within Other businesses and corporate. This segment has also been restated to include the legacy historical results of other petrochemicals assets that have been divested during 2004. The Grangemouth and Lavéra refineries have also been combined into the olefins and derivatives business to maintain current operating synergies. These changes have been made in connection with the establishment of our olefins and derivatives business as a stand-alone entity within BP, with a view towards its divestment at a later date.
(b) A small US operation, the Hobbs fractionator, which supplies petrochemicals feedstock, has been transferred from Gas, Power and Renewables to olefins and derivatives.
(c) The Mardi Gras pipeline system in the Gulf of Mexico has been transferred from Exploration and Production to Refining and Marketing.
Comparative financial and operating information is shown after resegmentation and the adoption of International Financial Reporting Standards.
This excerpt taken from the BP 6-K filed Sep 7, 2005. Note 4 - Resegmentation
With effect from January 1, 2005 there have been the following changes to the business segments reported by the Group.
(a) The petrochemicals operations have been divided between the Refining and Marketing segment and Other businesses and corporate. The aromatics and acetyls businesses and the petrochemicals assets that are integrated with our Gelsenkirchen refinery in Germany are now part of Refining and Marketing. The olefins and derivatives business is now reported within Other businesses and corporate. This segment has also been restated to include the legacy historical results of other petrochemicals assets that have been divested during 2004. The Grangemouth and Lavéra refineries have also been combined into the olefins and derivatives business to maintain current operating synergies. These changes have been made in connection with the establishment of our olefins and derivatives business as a stand-alone entity within BP, with a view towards its divestment at a later date.
(b) A small US operation, the Hobbs fractionator, which supplies petrochemicals feedstock, has been transferred from Gas, Power and Renewables to olefins and derivatives.
(c) The Mardi Gras pipeline system in the Gulf of Mexico has been transferred from Exploration and Production to Refining and Marketing.
Comparative financial and operating information is shown after resegmentation and the adoption of International Financial Reporting Standards.
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