BP (BP)

Texas City Refinery

        On March 23, 2005, an explosion and fire occurred in the Isomerization Unit of the BP Texas City refinery as the unit was coming out of planned maintenance. Fifteen contractors involved in maintenance work died in the incident. Other contractors and employees were injured, some very seriously. The US Occupational Safety and Health Administration, the US Chemical Safety and Hazard Investigation Board and the Texas Commission on Environmental Quality, among others, are conducting investigations. BP has finalized or is in process of negotiating settlements in respect of fatalities and personal injury claims arising from the incident. BP currently expects that the total amount of these settlements will not be material to the Group's results of operations or financial position for the year 2005. However, such amount may be material to the Group's results of operations for a particular quarter.

Texas City Refinery

        On March 23, 2005, an explosion and fire occurred in the Isomerization Unit of the BP Texas City refinery as the unit was coming out of planned maintenance. Fifteen contractors involved in maintenance work died in the incident. Other contractors and employees were injured, some very seriously. The US Occupational Safety and Health Administration, the US Chemical Safety and Hazard Investigation Board and the Texas Commission on Environmental Quality, among others, are conducting investigations. BP has finalized or is in process of negotiating settlements in respect of fatalities and personal injury claims arising from the incident. BP currently expects that the total amount of these settlements will not be material to the Group's results of operations or financial position for the year 2005. However, such amount may be material to the Group's results of operations for a particular quarter.