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BP » Topics » Note 45 - Summarized financial information on joint ventures and associated undertakings

This excerpt taken from the BP 20-F filed Jun 13, 2006.

Note 45 — Summarized financial information on joint ventures and associated undertakings

        A summarized statement of income and assets and liabilities based on latest information available, with respect to the Group's equity accounted joint ventures and associated undertakings, is set out below. These figures represent 100% of the Income Statements and Balance Sheets of the joint ventures and associated undertakings, not BP's ownership interest.

 
   Years ended December 31,
 
   2004
  2003
  2002
 
   ($ million)
Sales and other operating revenue   38,303   21,479   22,457
Gross profit   9,002   4,816   4,180
Profit for the year   5,413   2,597   2,049
   
 
 
 
   December 31,
 
 
   2004
  2003
 
 
   ($ million)
 
Fixed assets   44,695   37,095  
Current assets   13,649   11,972  
   
 
 
    58,344   49,067  
Current liabilities   (11,765 ) (10,761 )
Noncurrent liabilities   (12,552 ) (9,813 )
   
 
 
Net assets   34,027   28,493  
   
 
 

F - 86

        The more important joint ventures and associated undertakings of the Group at December 31, 2004 and the percentage of ordinary share capital owned or joint venture interest (to nearest whole number) are:

 
   %
  Country of
incorporation
  Principal activities
Associated undertakings            
Abu Dhabi            
Abu Dhabi Marine Areas   37   England   Crude oil production
Abu Dhabi Petroleum Co   24   England   Crude oil production
Azerbaijan            
The Baku-Tbilisi-Ceyhan Pipeline Co   30   Cayman Islands   Pipelines
Korea            
Samsung Petrochemical Co.   47   England   Petrochemicals
Taiwan            
China American Petrochemical Co.   61   Taiwan   Petrochemicals
 
   %
  Country of
incorporation
or registration
  Principal activities
Joint ventures            
CaTO Finance V Limited Partnership   50   England   Finance
Lukarco   46   Netherlands   Exploration and production, pipelines
Pan American Energy   60   USA   Exploration and Production
Shanghai Secco Petrochemical Co   50   China   Petrochemicals
TNK-BP   50   British Virgin Islands   Integrated oil operations
Unimar LLC   50   USA   Exploration and Production
Watson Cogeneration   51   USA   Power generation

F - 87

This excerpt taken from the BP 20-F filed Jun 30, 2005.

Note 45 — Summarized financial information on joint ventures and associated undertakings

        A summarized statement of income and assets and liabilities based on latest information available, with respect to the Group's equity accounted joint ventures and associated undertakings, is set out below. These figures represent 100% of the Income Statements and Balance Sheets of the joint ventures and associated undertakings, not BP's ownership interest.

 
   Years ended December 31,
 
   2004
  2003
  2002
 
   ($ million)
Sales and other operating revenue   38,303   21,479   22,457
Gross profit   9,002   4,816   4,180
Profit for the year   5,413   2,597   2,049
   
 
 
 
   December 31,
 
 
   2004
  2003
 
 
   ($ million)
 
Fixed assets   44,695   37,095  
Current assets   13,649   11,972  
   
 
 
    58,344   49,067  
Current liabilities   (11,765 ) (10,761 )
Noncurrent liabilities   (12,552 ) (9,813 )
   
 
 
Net assets   34,027   28,493  
   
 
 

F - 87

        The more important joint ventures and associated undertakings of the Group at December 31, 2004 and the percentage of ordinary share capital owned or joint venture interest (to nearest whole number) are:

 
   %
  Country of
incorporation
  Principal activities
Associated undertakings            
Abu Dhabi            
Abu Dhabi Marine Areas   37   England   Crude oil production
Abu Dhabi Petroleum Co   24   England   Crude oil production
Azerbaijan            
The Baku-Tbilisi-Ceyhan Pipeline Co   30   Cayman Islands   Pipelines
Korea            
Samsung Petrochemical Co.   47   England   Petrochemicals
Taiwan            
China American Petrochemical Co.   61   Taiwan   Petrochemicals
 
   %
  Country of
incorporation
or registration
  Principal activities
Joint ventures            
CaTO Finance V Limited Partnership   50   England   Finance
Lukarco   46   Netherlands   Exploration and production, pipelines
Pan American Energy   60   USA   Exploration and Production
Shanghai Secco Petrochemical Co   50   China   Petrochemicals
TNK-BP   50   British Virgin Islands   Integrated oil operations
Unimar LLC   50   USA   Exploration and Production
Watson Cogeneration   51   USA   Power generation

F - 88

EXCERPTS ON THIS PAGE:

20-F
Jun 13, 2006
20-F
Jun 30, 2005

RELATED TOPICS for BP:

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