20.06.2024 09:00:02

EQS-CMS: BP p.l.c.: Release of a capital market information

EQS Post-admission Duties announcement: BP p.l.c. / Report on Payments to Govts Part 1 of 1
BP p.l.c.: Release of a capital market information

20.06.2024 / 09:00 CET/CEST
Dissemination of a Post-admission Duties announcement transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


 

 

 
 
BP p.l.c.
Report on Payments to Governments
Year ended 31 December 2023
 
 

 

Contents

                                                                                                

 

Introduction
 
3
Basis of preparation
 
3
Payments overview
 
6
Payments by country
Algeria
Angola
Argentina
Australia
Azerbaijan
Brazil
Canada
Egypt
India
Indonesia
Iraq
Israel
Mauritania
Mexico
Oman
Senegal
Trinidad and Tobago
United Arab Emirates
United Kingdom
United States
 
7
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
 
Other resources 27

 

 

 

 

Introduction

 

BP p.l.c. has prepared the following consolidated report ('the report') on payments to governments in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209), as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928), (the 'Regulations'). The Report also addresses BP p.l.c.'s reporting obligations under DTR 4.3A of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The 'Basis of preparation' section below contains information about the content of the Report, the types of payments included and the principles that have been applied in preparing the Report.

 

bp's socioeconomic contribution

bp makes a broader socioeconomic contribution to countries in which we operate, in addition to the payments that are required to be reported under the Regulations. We make payments to governments in connection with parts of our business other than extractive activities - for example in relation to the transportation, trading, manufacture and marketing of oil and gas. As well as government payments, bp contributes to the economies of the countries in which we operate by providing jobs for employees and contractors, purchasing materials from local suppliers and undertaking social investment activities. See Other resources on page 29 for more information on our socioeconomic contribution and our position on tax and financial transparency.

 

bp's position on revenue transparency

bp supports transparency in the flow of revenue from oil and gas activities to governments. This helps citizens hold public authorities to account for the way they use funds received through taxes and other agreements.

 

Basis of preparation

 

Under the Regulations, the directors of BP p.l.c. are required to prepare a consolidated report on payments made to governments for each financial year in relation to relevant activities of both BP p.l.c. and any of its subsidiary undertakings included in the consolidated group accounts. The term 'bp' is used interchangeably within this report to indicate BP p.l.c. or any subsidiary undertaking within the scope of the report.

 

Activities within the scope of the report

Payments made to governments that relate to bp's activities involving the exploration, prospection, discovery, development, and extraction of minerals, oil, Natural Gas deposits or other materials ('extractive activities') are included in this report.

 

Payments made to governments that relate to trading, export (pipelines), refining and processing, renewables projects and other activities that are not within the scope of extractive activities as defined by the Regulations are not included in this report.

 

Where a payment relates to activities that are reportable under the Regulations as well as to activities which are not reportable, bp reports the payment in its entirety if it is not possible to disaggregate it.

 

Government

Under the Regulations, a 'government' is defined as any national, regional or local authority of a country, and includes a department, agency or undertaking that is a subsidiary undertaking controlled by such an authority. In some countries, certain local indigenous organizations fall within this definition of government. Where this is the case, payments made to such organizations have been included in this report. Where a state-owned enterprise undertakes activities outside of its home jurisdiction, then it is not considered to be a government.

 

Cash basis

Payments are reported on a cash basis, meaning that they are reported in the period in which they are paid, as opposed to being reported on an accruals basis (which would mean that they were reported in the period for which the liabilities arise). Refunds are also reported in the period they are received by bp and are shown as negative amounts in the report. Where payments in kind are made to a government, they are valued, and footnotes are included to help explain the valuation method and any related volumes.

 

Reporting principles

The Regulations require payments to be reported where they are made to governments by BP p.l.c. and its subsidiary undertakings in respect of extractive activities. In preparing a report, the Regulations also require the disclosure of payments to reflect the substance of each payment and the relevant activity or project concerned. In light of these requirements, bp has assessed its reporting obligations to be as follows:

   Where bp has made a payment to a government, such payment is reported in full, whether made in bp's sole capacity or in bp's capacity as the operator of a joint venture. Payments made to governments in connection with joint ventures are included in the report if, and to the extent that, bp makes the relevant payment. Typically, such circumstances will arise where bp is the operator of the joint venture.  Payments made by an incorporated joint venture which is not a subsidiary of bp are not included within this report.

   In some instances, bp is a partner in unincorporated joint ventures where the role of operator is performed through a non-typical operatorship model, whereby multiple entities contribute to an unincorporated body which has the role of operator. In relation to such joint ventures, payments made by bp to the government are reported and payments for which bp has direct responsibility to the government, but which are paid on its behalf, are also reported.

   bp's equity-accounted investments for the financial year ended 31 December 2023, such as Pan American Energy Group and Aker bp, are not bp subsidiaries and therefore in accordance with the Regulations, payments made by such entities are not included in this report.

 

Project definition

The Regulations require payments to be reported by project (as a subcategory within a country). They define a 'project' as the operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If these agreements are substantially interconnected, then they can be treated as a single project. Under the Regulations, 'substantially interconnected' means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government, giving rise to payment liabilities. These agreements may themselves be governed by a single contract, joint venture, production-sharing agreement, or other overarching legal agreement. Factors used to determine whether contracts or licences are operationally and geographically integrated may include their common management framework, proximity and use of common infrastructure. The number of projects will depend on the contractual arrangements within a country and not necessarily on the scale of activities. A project will only appear in this report where relevant payments occurred during the year in relation to that project.

 

The Regulations acknowledge that for some payments it may not be possible to attribute a payment to a single project and therefore such payments may be reported at the country level. For example, corporate income taxes, which are typically not levied at a project level.

 

Materiality threshold

The Regulations require that payments made as a single payment exceeding £86,000 or as part of a series of related payments within a financial year exceeding £86,000 be included in this report.

 

Reporting currency

All payments have been reported in US dollars. Payments made in currencies other than US dollars are typically translated at the exchange rate at the date of payment.

 

Payment types

The Regulations define a 'payment' as an amount paid whether in money or in kind, for relevant activities where the payment type is one of the following:

 

   Production entitlements

Under production sharing agreements (PSAs), the production is shared between the host government and the other parties to the PSA. The host government typically receives its share or entitlement in kind rather than being paid in cash. In this report such production entitlement volumes to the government are reported on a lifting basis, i.e. when the government takes possession of its share of production. A market value is applied, usually using the valuation method from the relevant PSA. For joint ventures in which bp is the operator, government production entitlements are reported in their entirety, in accordance with the notes above. Where the national oil company (NOC) is also a partner in the joint venture, their production entitlement is reported in addition to the government share of production. The NOC's entitlement as a partner will include both their share of production as investor's return as well as their entitlement for the reimbursement of their costs.

 

   Taxes

This report includes taxes levied on income, production or profits and taxes withheld from dividends, royalties and interest received by bp. In addition, taxes paid on behalf of bp by the NOC out of production entitlements are reported. Taxes levied on consumption, personnel, sales, procurement (contractor's withholding taxes), property and environmental taxes, customs and excise are not reportable under the Regulations.

 

   Royalties

These may be paid in cash or in kind (valued in the same way as production entitlements).

 

   Fees

In preparing this report, bp has included licence fees, rental fees, entry fees and all other payments that are paid in consideration for new and existing licences and/or concessions. Fees paid to governments for administrative services are excluded.

 

   Bonuses

Signature, discovery and production bonuses and other bonuses payable under licences or concession agreements are included in the report. 

                                                              

   Infrastructure improvements

Such payments include a road, or a building provided by bp that forms part of the fundamental facilities and systems serving a community or area. These payments are included in the report whether or not bp is contractually obliged to fund them and are reported when the relevant assets are handed over to the government or the local community.

 

   Dividends

These are dividends that are paid in lieu of production entitlements or royalties. Dividends paid by bp to a government as an ordinary shareholder are excluded. For the year ended 31 December 2023, there were no reportable dividend payments to a government.

 

   Other considerations

The payments shown in this report are rounded to the nearest $0.1 million. Due to rounding, some totals in the following tables may not agree exactly with the sum of their component parts. Amounts are shown to the nearest Dollar in the data submitted and are available on the UK Companies House website.

 

 

 

Payments overview

 

The table below shows the relevant payments to governments made by bp in the year ended 31 December 2023, by country and payment type.

 

Of the seven payment types required by the Regulations, bp did not pay any relevant dividends and therefore the category is not shown.

 

$ million

COUNTRY Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Algeria   30.4         30.4
Angola   2.1         2.1
Argentina   0.1         0.1
Australia   582.8 119.0 11.7     713.6
Azerbaijan 12,645.6 883.5   2.1 450.0   13,981.2
Brazil   (2.5)   1.2 1.7   0.4
Canada       1.4     1.4
Egypt   389.2   2.7 12.7   404.6
India 16.0           16.0
Indonesia 410.6 280.9   0.1     691.6
Iraq   53.7         53.7
Israel         1.7   1.7
Mauritania       1.3   0.1 1.5
Mexico   0.2   77.7     77.9
Oman 2,314.5 911.9   1.8     3,228.3
Senegal       0.7     0.7
Trinidad and Tobago   419.2   3.8     423.0
United Arab Emirates   4,913.3   6.0     4,919.2
United Kingdom   1,822.1   8.0     1,830.1
United States   104.1 1,145.0 14.1 50.6   1,313.8
Total 15,386.7 10,391.0 1,264.0 132.6 516.7 0.1 27,691.3

 

Payments by country

 

 

Algeria

 

$ million

GOVERNMENT Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Sonatrach   21.3         21.3
Treasury and Accounting
Management (of the State's
Financial Operations)
  9.2         9.2
Total   30.4         30.4

 

 

 

 

 

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure  improvements Total
BP Exploration Operating   9.2         9.2
In Amenas   10.5         10.5
In Salah   10.8         10.8
Total   30.4         30.4

 

 

Angola

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Ministry of Finance    2.1         2.1
Total    2.1         2.1

 

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Payments not attributable to
projects
   2.1          2.1
Total    2.1          2.1

 

 

Argentina

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Administracion Federal de Ingresos Publicos   0.1         0.1
Total   0.1         0.1

 

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Payments not attributable to projects   0.1         0.1
Total   0.1         0.1

 

 

 

 

 

 

Australia

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Australian Taxation Office   582.8   8.6     591.4
Department of Mines, Industry Regulation and Safety     119.0 2.2     121.3
Department of Finance       0.9     0.9
Total   582.8 119.0 11.7     713.6

 

 

PROJECTS Production entitlements Taxes  Royalties  Fee s Bonuses  Infrastructure improvements Total
North West Shelf   582.8 119.0 11.7     713.6
Total   582.8 119.0 11.7     713.6

 

Azerbaijan

 

$ million

GOVERNMENTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Azerbaijan (ACG) Ltd. (SOCAR subsidiary) 1,067.3(a)           1,067.3
Azerbaijan (Shah Deniz) Ltd.  (SOCAR subsidiary) 431.3(b)           431.3
Ministry of Taxes   883.5(h)         883.5
SGC Upstream LLC 1,395.1(c)           1,395.1
State Oil Company of Azerbaijan Republic (SOCAR) 184.7(d)           184.7
State Oil Fund of Azerbaijan (SOFAZ) 9,567.1(e)     2.1 450.0   10,019.3
Total 12,645.6 883.5   2.1 450.0   13,981.2

 

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Azeri-Chirag-Deepwater Gunashli - PSA 8,118.8(f) 103.6     450.0   8,672.4
Shafag-Asiman - PSA       2.1     2.1
Shah Deniz - PSA 4,526.8(g) 779.9(i)         5,306.7
Total 12,645.6 883.5   2.1 450.0   13,981.2

 

 

(a)       Payments in kind for 12.9 million barrels of crude oil valued at netback value per the production sharing agreement.

(b)       Includes payments in kind of $74.8 million for 1.0 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.

(c)       Includes payments in kind of $358.4 million for 4.5 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.

(d)       Payments in kind for 2.0 billion cubic metres of associated residue natural gas valued on the basis of gas prices realized in a similar Azerbaijan project.

(e)       Includes payments in kind of $7,509.3 million for 91.5 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.

(f)        Includes payments in kind of $7,934.1 million for 96.3 million barrels of crude oil valued at netback value per the production sharing agreement and payments in kind of $184.7 million for 2.0 billion cubic metres of associated residue natural gas valued on the basis of gas prices realized in a similar Azerbaijan project.

(g)       Includes payments in kind of $1,075.8 million for 13.7 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.

(h)       Includes $779.9 million of taxes settled by SOCAR on bp's behalf, out of entitlement, pursuant to the relevant agreements.

(i)        Pursuant to the relevant agreements, SOCAR paid these taxes on bp's behalf out of revenue entitlements.

 

Brazil

 

$ million

GOVERNMENTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Agencia Nacional do Petroleo, Gas Natural e Biocombustíveis (ANP)       0.9 1.7   2.6
Petrobras       0.3     0.3
Secretaria da Receita Federal    (2.5)(a)          (2.5)
Total   (2.5)   1.2 1.7   0.4

 

(a) Income tax refund related to 2011.

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Bumerangue         1.7   1.7
CM-477       0.3     0.3
CM-755       0.4     0.4
CM-793       0.4     0.4
S-M-1500       0.2     0.2
Payments not attributable to projects   (2.5)         (2.5)
Total   (2.5)   1.2 1.7   0.4

 

 

 

 

 

 

 

Canada

 

$ million

GOVERNMENTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Canada Newfoundland and Labrador Offshore Petroleum Board       0.5     0.5
Government of The Province of
Alberta
      0.5     0.5
Natural Resources Canada       0.4     0.4
Total       1.4     1.4

 

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Newfoundland Exploration       0.9     0.9
Terre De Grace       0.5     0.5
Total       1.4     1.4

 

Egypt

 

$ million

GOVERNMENTS Production entitlements Taxes  Royalties  Fees  Bonuses  Production improvements Total
Egyptian General Petroleum       2.7 12.7   15.4
Egyptian Tax Authority   389.2(a)         389.2
Total   389.2   2.7 12.7   404.6

 

 

PROJECTS Production entitlements Taxes  Royalties  Fees  Bonuses  Infrastructure improvements Total
Baltim   48.7(a)         48.7
El Qaraa   18.8(a)     0.8   19.6
North Damietta   172.2(a)         172.2
North El Hammad   19.7(a)         19.7
Ras El Bar   20.5(a)         20.5
Temsah   14.6(a)         14.6
UGDC   0.2(a)         0.2
West Mediterranean   29.0(a)         29.0
West Nile Delta       2.7 12.0   14.6
Zohr   65.4(a)         65.4
Total   389.2   2.7 12.7   404.6

 

(a) Pursuant to the relevant agreements, Egypt General Petroleum Corporation paid these taxes on bp's behalf out of production entitlement.

 

India

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Ministry of Petroleum and Natural Gas 16.0           16.0
Total 16.0           16.0

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
KG D6 KG-DWN-98/3 16.0           16.0
Total 16.0           16.0

 

 

Indonesia

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Ministry of Finance 410.6(a) 280.9         691.5
SKKMIGAS       0.1(b)     0.1
Total 410.6 280.9   0.1     691.6

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Tangguh 410.6(a) 280.9   0.1(b)     691.6
Total 410.6 280.9   0.1     691.6

 

(a) Includes payments in kind of $60.3 million for 0.9 million barrels of condensates valued per the production sharing agreement. The remaining production entitlement for LNG was paid in cash.
(b) Payments totalling $5.2 million in relation to the same North Shore Housing and clean water well programs were made in the period 2017 to 2022. Those payments were previously treated as infrastructure improvements which bp expect to report when the relevant assets are handed over to the government or local community. For 2023 bp is reporting as cash payments on a cash basis.

 

Iraq

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
General Commission for Taxes   53.7         53.7
Total   53.7         53.7

 

 

PROJECTS Production
entitlements
Taxes Royalties Fees Bonuses Infrastructure improvements Total
Rumaila   53.7         53.7
Total   53.7         53.7

 

 

Israel

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Ministry of Energy and
Infrastructure
        1.7   1.7
Total         1.7   1.7

 

 

PROJECTS Production
entitlements
Taxes Royalties Fees Bonuses Infrastructure
improvements
Total
Licences in
Zone I
        1.7   1.7
Total         1.7   1.7

 

 

Mauritania

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Ministry of Petroleum, Energy and Mines       1.0   0.1 1.1
Société Mauritanienne des    
Hydrocarbures
 
 
 
      0.4     0.4
Total       1.3   0.1 1.5

 

 

PROJECTS Production
entitlements
Taxes Royalties Fees Bonuses Infrastructure
improvements
Total
BirAllah       0.7     0.7
Block C8       0.7     0.7
Payments not attributable to projects           0.1 0.1
Total       1.3   0.1 1.5

 

 

 

 

Mexico

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Fondo Mexicano del Petróleo       77.7     77.7
Sistema de administración Tributaria   0.2         0.2
Total   0.2   77.7     77.9

 

 

PROJECTS Production
entitlements
Taxes Royalties Fees Bonuses Infrastructure improvements Total
Cuencas del Sureste 34 R3       32.8     32.8
Cuenca Salina 1 R1   0.2   44.8     45.1
Total   0.2   77.7     77.9

 

Oman

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Makarim Gas Development 564.1(a)           564.1
Ministry of Energy and Minerals 1,750.5(b)     0.4     1,750.9
Ministry of Labour       1.4     1.4
Oman Tax Authority   911.9(c)         911.9
Total 2,314.5 911.9   1.8     3,228.3

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Khazzan 2,314.5(a)(b) 911.9   1.8     3,228.3
Total 2,314.5 911.9   1.8     3,228.3

 

(a) Comprises payments in kind of $225.5 million for 2.7 million barrels of condensates valued at market prices, $337.8 million for 97.2 million mmBtu of gas valued per the Gas Sales Agreement and $0.8 million was paid in cash.
(b) Comprises payments in kind of $915.6 million for 11.1 million barrels of condensates valued at market prices, $831.9 million for 95.8 million mmBtu of gas valued per the Gas Sales Agreement and $3.0 million was paid in cash.
(c) Pursuant to the relevant agreements, the Ministry of Oil and Gas paid $671.5 million of taxes on bp's behalf out of their production entitlement.
 

 

 

 

 

 

 

 

 

Senegal

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Société des pétroles du Sénégal       0.7     0.7
Total       0.7     0.7

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Block Cayar Profond       0.4     0.4
Block St Louis Profond       0.3     0.3
Total       0.7     0.7

 

 

Trinidad and Tobago

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Board of Inland Revenue   183.2         183.2
Ministry of Energy and Energy Industries   236.0   3.8     239.8
Total   419.2   3.8     423.0

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Block 5B       1.9     1.9
Block 25A       0.9     0.9
Block 25B       0.9     0.9
BPTT Blocks   419.2   0.1     419.3
Total   419.2   3.8     423.0

 

 

United Arab Emirates

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Abu Dhabi National Oil Company       6.0     6.0
Department of Finance Abu Dhabi   4,913.3         4,913.3
Total   4,913.3   6.0     4,919.2

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
ADCO Concession (Onshore)   4,913.3   6.0     4,919.2
Total   4,913.3   6.0     4,919.2

 

 

 

United Kingdom

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
HM Revenue and Customs   1,822.1(a)(b)         1,822.1
Oil and Gas Authority       7.7     7.7
The Crown Estate       0.3     0.3
Total   1,822.1   8.0     1,830.1

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Andrew       0.4     0.4
Clair       0.4     0.4
Decommissioning    (77.3)(a)   0.2     (77.1)
ETAP       0.7     0.7
Exploration       2.0     2.0
Foinaven       2.1     2.1
Murlach       0.2     0.2
Non-Operated    (3.5)(a)   0.4     (3.0)
Pipelines       0.3     0.3
Schiehallion       1.3     1.3
Payments not attributable to projects   1,902.8(b)         1,902.8
Total   1,822.1   8.0     1,830.1

 

(a) Net refunds result from the carry back of tax losses, resulting in a refund of taxes paid in prior years.
(b) Settlement of tax which include interest over/under payments.

 

 

 

 

 

 

 

United States

 

$ million

GOVERNMENTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Office of Natural Revenue     1.0       1.0
Office of Natural Revenue/Department Interior     1,031.1 12.6 50.6   1,094.3
State of Alaska    (67.6)(a)         (67.6)
State of California     0.1(b)       0.1
State of Colorado   0.2         0.2
State of Delaware     1.9(b)       1.9
State of Louisiana   49.5 8.0(b) 0.2     57.7
State of Texas   120.6 102.9(b) 1.3     224.8
West Virginia   1.3         1.3
Total   104.1 1,145.0 14.1 50.6   1,313.8

 

 

PROJECTS Production entitlements Taxes Royalties Fees Bonuses Infrastructure improvements Total
Alaska   (67.6)         (67.6)
California     0.1       0.1
Colorado   0.2         0.2
Delaware     1.9       1.9
Gulf of Mexico
- Central
    983.1 12.2 50.6   1,045.9
Gulf of Mexico
- Western
    48.0 0.4     48.4
Louisiana   49.5 8.0 0.2     57.7
Texas   120.6 102.9 1.3     224.8
West Virginia   1.3         1.3
Payments not attributable to projects     1.0       1.0
Total   104.1 1,145.0 14.1 50.6   1,313.8

 

(a) Net refunds result from the carry back of tax losses, resulting in a refund of taxes paid in prior years.
(b) Payments to states where bp has no extractive activities relate to Escheatment of Royalties.
 

 

Other resources

 

bp payments to governments 2023

Detailed data filed with UK Registrar
extractives.companieshouse.gov.uk

 

bp annual and sustainability reporting

bp Annual Report and Form 20-F 2023

bp.com/annualreport

bp Sustainability Report 2023
bp.com/sustainability

bp Tax Report 2023
bp.com/tax

 

bp economic impact reports

bp US Economic Impact Report
bp.com/economicimpact-us

bp UK Economic Impact Report
bp.com/economicimpact-uk

bp EU Economic Impact Report

bp-european-economic-impact-report-2023.pdf

 

 

 

 

Contacts

 

Press Office
London
David Nicholas
+44 (0)20 7496 4708
Houston
Paul Takahashi
+1 713 903 9729

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.



20.06.2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: BP p.l.c.
1 St James's Square
SW1Y 4PD London
United Kingdom

 
End of News EQS News Service

1929331  20.06.2024 CET/CEST

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