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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bp Plc | LSE:BP. | London | Ordinary Share | GB0007980591 | $0.25 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.20 | 0.61% | 528.80 | 528.80 | 528.90 | 529.00 | 521.90 | 523.30 | 17,652,885 | 13:19:29 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Petroleum Refining | 211.6B | 15.24B | 0.8934 | 5.89 | 89.83B |
From Apr 2019 to Apr 2024
TIDMBP.
RNS Number : 5460O
BP PLC
01 June 2020
BP p.l.c. Report on payments to governments Year ended 31 December 2019
CONTENTS
INTRODUCTION 3 BASIS OF PREPARATION 3 PAYMENTS OVERVIEW 6 PAYMENTS BY COUNTRY 7 OTHER SOURCES 30
Introduction
BP p.l.c. has prepared the following consolidated report ('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 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 socio-economic contribution
bp makes a broader socio-economic contribution to countries in which we operate in addition to the payments that are required to be reported under the Regulations. We also make payments to governments in connection with parts of our business other than the Upstream - for example in relation to the transporting, trading, manufacturing 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 section at the end of the report for more information on our socio-economic contribution and our position on tax and financial transparency.
bp's position on revenue transparency
bp supports the concept of transparency in revenue flows from oil and gas activities in resource-rich countries. It helps citizens of affected countries access the information they need to hold governments 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 activities are not included in this Report as they are not within the scope of extractive activities as defined by the Regulations.
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 actually 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 such as Rosneft, 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 sub category 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. Moreover, 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. Corporate income taxes, which are typically not levied at a project level, are an example of this.
Materiality threshold
The Regulations require that payments made as a single payment exceeding GBP86,000 or as part of a series of related payments within a financial year exceeding GBP86,000 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 is of any one of the types listed below:
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 entitlements 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
The Report includes taxes levied on income, production or profits or 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), environmental, property, 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 entitlement).
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 2019, 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. In the following tables because of rounding, some totals may not agree exactly with the sum of their component parts. Amounts are shown to the nearest dollar in the data submitted and 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 2019 shown by country and payment type.
Of the seven payment types required by the UK regulations, bp did not pay any relevant dividends and therefore the category is not shown.
$ million
Hot Features
Premium
Production Infrastructure
Country Entitlements Taxes Royalties Fees Bonuses Improvements Total
====================== ============= ======== ========== ===== ======== =============== =========
Algeria 127.6 0.1 127.8
====================== ============= ======== ========== ===== ======== =============== =========
Angola 1,206.7 443.8 0.7 1651.2
====================== ============= ======== ========== ===== ======== =============== =========
Argentina 0.7 0.7
====================== ============= ======== ========== ===== ======== =============== =========
Australia 349.0 129.4 478.4
====================== ============= ======== ========== ===== ======== =============== =========
Azerbaijan 10,060.8 159.7 2.8 450.3 10,673.6
====================== ============= ======== ========== ===== ======== =============== =========
Brazil 2.1 9.3 225.8 237.2
====================== ============= ======== ========== ===== ======== =============== =========
Canada 16.6 1.7 18.2
====================== ============= ======== ========== ===== ======== =============== =========
Egypt 455.9 4.4 1.0 461.3
====================== ============= ======== ========== ===== ======== =============== =========
Gambia 0.3 10.1 10.4
====================== ============= ======== ========== ===== ======== =============== =========
India 0.2 0.2
====================== ============= ======== ========== ===== ======== =============== =========
Indonesia 603.5 221.3 6.5 831.4
====================== ============= ======== ========== ===== ======== =============== =========
Iraq 112.3 1.2 1.9 115.4
====================== ============= ======== ========== ===== ======== =============== =========
Madagascar 0.8 0.8
====================== ============= ======== ========== ===== ======== =============== =========
Mauritania 1.9 5.0 6.9
====================== ============= ======== ========== ===== ======== =============== =========
Mexico 3.4 2.6 6.0
====================== ============= ======== ========== ===== ======== =============== =========
Oman 858.2 176.6 0.6 0.9 1,036.3
====================== ============= ======== ========== ===== ======== =============== =========
Russia 104.3 104.3
====================== ============= ======== ========== ===== ======== =============== =========
São Tomé
and Príncipe 3.5 3.5
====================== ============= ======== ========== ===== ======== =============== =========
Senegal 0.9 0.9
====================== ============= ======== ========== ===== ======== =============== =========
Trinidad and Tobago 342.1 1.5 343.5
====================== ============= ======== ========== ===== ======== =============== =========
United Arab Emirates 3,409.9 6.3 3,416.1
====================== ============= ======== ========== ===== ======== =============== =========
United Kingdom (20.5) 7.7 (12.7)
====================== ============= ======== ========== ===== ======== =============== =========
United States 24.2 285.0 1,107.9 9.5 32.0 1,458.5
====================== ============= ======== ========== ===== ======== =============== =========
Total 12,753.6 6,189.8 1,237.3 55.0 730.7 3.4 20,969.8
====================== ============= ======== ========== ===== ======== =============== =========
Payments BY COUNTRY
Algeria
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================= ============== ========== ========== ===== ======== =============== ======
Ministère des
Finances - Direction
Générale
des Impôts (a) 127.6 127.6
======================================= ========== ========== ===== ======== =============== ======
Sonatrach 0.1 0.1
======================================= ========== ========== ===== ======== =============== ======
Total 127.6 0.1 127.8
======================================= ========== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========== ============== ========= ========== ===== ======== =============== ======
In Amenas (b) 55.3 0.1 55.4
=========================== ========= ========== ===== ======== =============== ======
In Salah (c) 72.4 72.4
=========================== ========= ========== ===== ======== =============== ======
Total 127.6 0.1 127.8
=========================== ========= ========== ===== ======== =============== ======
Includes $114.7 million of taxes settled by Sonatrach on bp's behalf
(a) out of entitlement, pursuant to the relevant agreements.
(b) Includes $42.4 million of taxes settled by Sonatrach on bp's behalf
out of production entitlement, pursuant to the relevant agreements.
(c) Pursuant to the relevant agreements, Sonatrach paid these taxes
on bp's behalf out of revenue entitlements.
Angola
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
============================== ============= ====== ========== ===== ======== =============== ========
Adminstracao Geral
Tributaria 13.0 13.0
============================== ============= ====== ========== ===== ======== =============== ========
Finance Ministry 424.3 424.3
============================== ============= ====== ========== ===== ======== =============== ========
Ministry of Petroleum 6.5 6.5
============================== ============= ====== ========== ===== ======== =============== ========
Rise Angola 0.7 0.7
============================== ============= ====== ========== ===== ======== =============== ========
Sonangol EP (Concessionaire) (a) 483.4 483.4
============================== ============= ====== ========== ===== ======== =============== ========
Sonangol P&P (b) 723.3 723.3
============================== ============= ====== ========== ===== ======== =============== ========
Total 1,206.7 443.8 0.7 1,651.2
============================== ============= ====== ========== ===== ======== =============== ========
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========== ============= ====== ========== ===== ======== =============== ========
Block 15 97.2 97.2
========== ============= ====== ========== ===== ======== =============== ========
Block 17 203.4 203.4
========== ============= ====== ========== ===== ======== =============== ========
Block 18 (c) 340.4 61.5 0.3 402.3
========== ============= ====== ========== ===== ======== =============== ========
Block 31 (d) 866.3 81.7 0.3 948.3
========== ============= ====== ========== ===== ======== =============== ========
Total 1,206.7 443.8 0.7 1,651.2
========== ============= ====== ========== ===== ======== =============== ========
Payments in kind for 7.5 million bbls of crude oil valued per the
(a) Production Sharing Agreement.
(b) Payments in kind for 11.7 million bbls of crude oil valued per the
Production Sharing Agreement.
(c) Payments in kind for 5.2 million bbls of crude oil valued per the
Production Sharing Agreement.
(d) Payments in kind for 14.0 million bbls of crude oil valued per the
Production Sharing Agreement.
ARGENTINA
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============== ====== ========== ===== ======== =============== ======
Administracion Federal
de
------------------------ -------------- ------ ---------- ----- -------- --------------- ------
Ingresos Publicos
(AFIP) 0.7 0.7
======================================== ====== ========== ===== ======== =============== ======
Total 0.7 0.7
======================================== ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============== ====== ========== ===== ======== =============== ======
Payments not attributable
to projects 0.7 0.7
=========================================== ====== ========== ===== ======== =============== ======
Total 0.7 0.7
=========================================== ====== ========== ===== ======== =============== ======
Australia
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============== ====== ========== ===== ======== =============== ======
Australian Taxation
Office 349.0 349.0
======================================== ====== ========== ===== ======== =============== ======
Department of Mines,
Industry
------------------------ -------------- ------ ---------- ----- -------- --------------- ------
Regulation and Safety 129.4 129.4
======================================== ====== ========== ===== ======== =============== ======
Total 349.0 129.4 478.4
======================================== ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============== ====== ========== ===== ======== =============== ======
North West Shelf 27.3 129.4 156.7
=========================================== ====== ========== ===== ======== =============== ======
Payments not attributable
to projects 321.7 321.7
=========================================== ====== ========== ===== ======== =============== ======
Total 349.0 129.4 478.4
=========================================== ====== ========== ===== ======== =============== ======
Azerbaijan
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
===================== ============= ====== ========== ===== ======== =============== =========
Azerbaijan (ACG)
Ltd. (SOCAR
subsidiary) (a) 959.6 959.6
===================== ============= ====== ========== ===== ======== =============== =========
Azerbaijan (Shah
Deniz) Ltd.
(SOCAR subsidiary) (b) 330.3 330.3
===================== ============= ====== ========== ===== ======== =============== =========
Ministry of Taxes 159.7 159.7
===================== ============= ====== ========== ===== ======== =============== =========
SGC Upstream LLC (c) 220.2 220.2
===================== ============= ====== ========== ===== ======== =============== =========
State Oil Company
of Azerbaijan
Republic (SOCAR) (d) 123.6 123.6
===================== ============= ====== ========== ===== ======== =============== =========
State Oil Fund of
Azerbaijan
(SOFAZ) (e) 8,427.1 2.8 450.3 8,880.1
===================== ============= ====== ========== ===== ======== =============== =========
Total 10,060.8 159.7 2.8 450.3 10,673.6
===================== ============= ====== ========== ===== ======== =============== =========
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============= ====== ========== ===== ======== =============== =========
Azeri-Chirag-Deepwater
Guneshli - PSA (f) 8,728.3 159.7 450.0 9,338.0
======================== ============= ====== ========== ===== ======== =============== =========
Shafag-Asiman - PSA 2.1 2.1
======================== ============= ====== ========== ===== ======== =============== =========
Shah Deniz - PSA (g) 1,332.6 0.3 1,332.9
======================== ============= ====== ========== ===== ======== =============== =========
Shallow Water Absheron
Peninsula (SWAP)
PSA 0.6 0.6
========================= ============= ====== ========== ===== ======== =============== =========
Total 10,060.8 159.7 2.8 450.3 10,673.6
======================== ============= ====== ========== ===== ======== =============== =========
(a) Payments in kind for 15.2 million bbls of crude oil valued at netback
value per the Production Sharing Agreement.
(b) Includes payments in kind of $141.9 million for 2.3 million bbls
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 $94.5 million for 1.5 million bbls
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 2.1 billion cubic meters of associated residue
natural gas valued on the basis of gas prices realized in a similar
Azerbaijani project.
(e) Includes payments in kind of $7,979.9 million for 126.6 million
bbls 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 $8,604.6 million for 136.3 million
bbls of crude oil valued at netback value per the Production Sharing
Agreement and pay ments in kind of $123.6 million for 2.1 billion
cubic meters of associated residue natural gas valued on the basis
of gas prices realized in a similar Azerbaijani project.
(g) Includes payments in kind of $571.3 million for 9.3 million bbls
of crude oil valued at netback value per the Production Sharing
Agreement and the remaining production entitlement was paid in cash.
Brazil
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
================================= ============== ====== ========== ===== ======== =============== ======
Agencia Nacional
do Petroleo, Gas
Natural e Biocombustíveis
(ANP) 9.3 225.8 235.1
================================================= ====== ========== ===== ======== =============== ======
Secretaria da Receita
Federal 2.1 2.1
================================================= ====== ========== ===== ======== =============== ======
Total 2.1 9.3 225.8 237.2
================================================= ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============== ====== ========== ===== ======== =============== ======
BM-C-35 0.3 0.3
=========================================== ====== ========== ===== ======== =============== ======
BM-CAL-13 9.0 9.0
=========================================== ====== ========== ===== ======== =============== ======
C-M-477 150.4 150.4
=========================================== ====== ========== ===== ======== =============== ======
Payments not attributable
to
projects 2.1 2.1
=========================================== ====== ========== ===== ======== =============== ======
S-M-1500 75.4 75.4
=========================================== ====== ========== ===== ======== =============== ======
Total 2.1 9.3 225.8 237.2
=========================================== ====== ========== ===== ======== =============== ======
Canada
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
====================== ============== ====== ========== ===== ======== =============== ======
Canada Newfoundland
and
Labrador Offshore
Petroleum
Board (CNLOPB) 0.1 0.1
Canada Nova Scotia
Offshore
Petroleum Board
(CNSOPB) 0.8 0.8
====================================== ====== ========== ===== ======== =============== ======
Government of Canada (0.4) (0.4)
====================================== ====== ========== ===== ======== =============== ======
Natural Resources
Canada 0.3 0.3
====================================== ====== ========== ===== ======== =============== ======
Province of Alberta 17.0 0.4 17.4
====================================== ====== ========== ===== ======== =============== ======
Total 16.6 1.7 18.2
====================================== ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============== ====== ========== ===== ======== =============== ======
Newfoundland Exploration 0.3 0.3
=========================================== ====== ========== ===== ======== =============== ======
Nova Scotia Exploration 1.0 1.0
=========================================== ====== ========== ===== ======== =============== ======
Terre De Grace 0.4 0.4
=========================================== ====== ========== ===== ======== =============== ======
Payments not attributable
to projects 16.6 16.6
=========================================== ====== ========== ===== ======== =============== ======
Total 16.6 1.7 18.2
=========================================== ====== ========== ===== ======== =============== ======
EGYPT
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============== ========== ========== ===== ======== =============== ======
Egyptian General
Petroleum
Corporation (EGPC) 4.0 4.0
======================================== ========== ========== ===== ======== =============== ======
Egyptian Natural
Gas Holding
Company (EGAS) 0.4 1.0 1.4
======================================== ========== ========== ===== ======== =============== ======
Egyptian Tax Authority (a) 455.9 455.9
======================================== ========== ========== ===== ======== =============== ======
Total 455.9 4.4 1.0 461.3
======================================== ========== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
================= ============== ========== ========== ===== ======== =============== ======
Baltim (a) 8.9 8.9
================================= ========== ========== ===== ======== =============== ======
East Morgan (a) 6.5 6.5
================================= ========== ========== ===== ======== =============== ======
East Tanka (a) 1.8 1.8
================================= ========== ========== ===== ======== =============== ======
El Qaraa (a) 68.1 68.1
================================= ========== ========== ===== ======== =============== ======
Gulf Of Suez (a) 176.0 176.0
================================= ========== ========== ===== ======== =============== ======
LL 87 (Saqqara) (a) 19.5 19.5
================================= ========== ========== ===== ======== =============== ======
North Damietta (a) 135.8 1.0 136.8
================================= ========== ========== ===== ======== =============== ======
North Gamasa 0.4 0.4
================================= ========== ========== ===== ======== =============== ======
North October (a) 0.6 0.6
================================= ========== ========== ===== ======== =============== ======
Ras El Bar (a) 23.3 23.3
================================= ========== ========== ===== ======== =============== ======
South Belayim (a) 10.4 10.4
================================= ========== ========== ===== ======== =============== ======
South Gharib (a) 4.9 4.9
================================= ========== ========== ===== ======== =============== ======
West Nile Delta 4.0 4.0
================================= ========== ========== ===== ======== =============== ======
Total 455.9 4.4 1.0 461.3
================================= ========== ========== ===== ======== =============== ======
(a) Pursuant to the relevant agreements, Egyptian General Petroleum
Corporation (EGPC) paid these taxes on bp's behalf out of production
entitlement.
GAMBIA
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
===================== ============== ======= =========== ===== ======== =============== ======
Ministry of Finance
& Economic
Affairs 0.3 10.1 10.4
=========================================================== ===== ======== =============== ======
Total 0.3 10.1 10.4
=========================================================== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========== ============== ======= =========== ===== ======== =============== ======
A1 0.3 10.1 10.4
================================================ ===== ======== =============== ======
Total 0.3 10.1 10.4
================================================ ===== ======== =============== ======
India
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================= ============= ====== ========== ===== ======== =============== ======
Ministry of Petroleum
& Natural
Gas - Government
of India 0.2 0.2
======================= ============= ====== ========== ===== ======== =============== ======
Total 0.2 0.2
======================= ============= ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=================== ============= ====== ========== ===== ======== =============== ======
KG D6 KG-DWN-98/3 0.2 0.2
=================== ============= ====== ========== ===== ======== =============== ======
Total 0.2 0.2
=================== ============= ====== ========== ===== ======== =============== ======
Indonesia
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
===================== ============= ====== ========== ===== ======== =============== ======
Ministry of Finance (a) 603.5 221.3 6.5 831.4
===================== ============= ====== ========== ===== ======== =============== ======
Total 603.5 221.3 6.5 831.4
===================== ============= ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========== ============= ====== ========== ===== ======== =============== ======
Tangguh (a) 603.5 221.3 6.5 831.4
========== ============= ====== ========== ===== ======== =============== ======
Total 603.5 221.3 6.5 831.4
========== ============= ====== ========== ===== ======== =============== ======
(a) Includes payments in kind of $75.7 million for 1.4 million bbls
of condensates valued per the Production Sharing Agreement and the
remaining production entitlement for LNG was paid in cash.
Iraq
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
==================== ============== ====== ========== ===== ======== =============== ======
Basra Governorate 1.9 1.9
==================================== ====== ========== ===== ======== =============== ======
Basra Oil Company 0.9 0.9
==================================== ====== ========== ===== ======== =============== ======
General Commission
for Taxes 112.3 112.3
==================================== ====== ========== ===== ======== =============== ======
Ministry of Oil 0.3 0.3
==================================== ====== ========== ===== ======== =============== ======
Total 112.3 1.2 1.9 115.4
==================================== ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========== ============== ====== ========== ===== ======== =============== ======
Rumaila 112.3 1.2 1.9 115.4
========================== ====== ========== ===== ======== =============== ======
Total 112.3 1.2 1.9 115.4
========================== ====== ========== ===== ======== =============== ======
Madagascar
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
========================== ============== ======= =========== ===== ======== =============== ======
Office des Mines
Nationales et des
Industries Strategiques
(OMNIS) 0.8 0.8
================================================================ ===== ======== =============== ======
Total 0.8 0.8
================================================================ ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================= ============== ======= =========== ===== ======== =============== ======
Block Ampasindava 0.2 0.2
============================================================= ===== ======== =============== ======
Block Cap Saint Andre 0.2 0.2 ============================================================= ===== ======== =============== ====== Block Majunga Nord 0.2 0.2 ============================================================= ===== ======== =============== ====== Block Majunga Sud 0.2 0.2 ============================================================= ===== ======== =============== ====== Total 0.8 0.8 ============================================================= ===== ======== =============== ======
Mauritania
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============== ======= =========== ===== ======== =============== ======
Ministry of Petroleum,
Energy &
Mines 1.6 5.0 6.6
============================================================== ===== ======== =============== ======
Société
Mauritanienne des
Hydrocarbures 0.3 0.3
============================================================== ===== ======== =============== ======
Total 1.9 5.0 6.9
============================================================== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========== ============== ======= =========== ===== ======== =============== ======
Block C12 0.3 0.3
================================================= ===== ======== =============== ======
Block C13 0.3 5.0 5.3
================================================= ===== ======== =============== ======
Block C6 0.5 0.5
================================================= ===== ======== =============== ======
Block C8 0.7 0.7
================================================= ===== ======== =============== ======
Total 1.9 6.9
================================================= ===== ======== =============== ======
Mexico
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============== ====== ========== ===== ======== =============== ======
Fondo Mexicano del
Petroleo 2.6 2.6
Sistema de Administracion
Tributaria 3.4 3.4
=========================================== ====== ========== ===== ======== =============== ======
Total 3.4 2.6 6.0
=========================================== ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
===================== ============== ====== ========== ===== ======== =============== ======
Cuencas del Sureste
34 R3 0.8 0.6 1.4
===================================== ====== ========== ===== ======== =============== ======
Cuenca Salina 1 R1 2.6 2.0 4.6
===================================== ====== ========== ===== ======== =============== ======
Total 3.4 2.6 6.0
===================================== ====== ========== ===== ======== =============== ======
Oman
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
========================= ============= ========== ========== ===== ======== =============== ========
GPS 0.9 0.9
========================= ============= ========== ========== ===== ======== =============== ========
Makarim Gas Development
(MGD) (a) 561.5 561.5
========================= ============= ========== ========== ===== ======== =============== ========
Ministry of Oil &
Gas (b) 296.7 0.6 297.3
========================= ============= ========== ========== ===== ======== =============== ========
Ministry of Finance (c) 176.6 176.6
========================= ============= ========== ========== ===== ======== =============== ========
Total 858.2 176.6 0.6 0.9 1,036.3
========================= ============= ========== ========== ===== ======== =============== ========
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========== ============= ========== ========== ===== ======== =============== ========
(a)(b)
Khazzan 858.2 (c) 176.6 0.6 0.9 1,036,3
========== ============= ========== ========== ===== ======== =============== ========
Total 858.2 176.6 0.6 0.9 1,036.3
========== ============= ========== ========== ===== ======== =============== ========
(a) Comprises payments in kind of $204.1 million for 3.2 million bbls
of condensates valued at market prices; $356.1 million for 98.1
million mmBtu of gas valued per the Gas Sales Agreement and $1.2
million was paid in cash.
(b) Comprises payments in kind of $106.8 million for 1.7 million bbls
of condensates valued at market prices; $189.2 million for 52.1
million mmBtu of gas valued per the Gas Sales Agreement and $0.6
million was paid in cash.
(c) Pursuant to the relevant agreements, the Ministry of Oil and Gas
paid these taxes on bp's behalf out of their production entitlement.
Russia
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
===================== ============== ====== ========== ===== ======== =============== ======
Ministry of Finance
- Moscow 104.3 104.3
===================================== ====== ========== ===== ======== =============== ======
Total 104.3 104.3
===================================== ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============== ====== ========== ===== ======== =============== ======
Investment in Rosneft 86.0 86.0
=========================================== ====== ========== ===== ======== =============== ======
Investment in TYNGD
(Taas) 17.6 17.6
Payments not attributable
to projects 0.7 0.7
=========================================== ====== ========== ===== ======== =============== ======
Total 104.3 104.3
=========================================== ====== ========== ===== ======== =============== ======
São Tomé and Príncipe
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================= ============== ======= =========== ===== ======== =============== ======
Agência Nacional
do Petróleo 3.5 3.5
============================================================= ===== ======== =============== ======
Total 3.5 3.5
============================================================= ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========== ============== ======= =========== ===== ======== =============== ======
Block 10 1.5 1.5
================================================ ===== ======== =============== ======
Block 13 1.9 1.9
Total 3.5 3.5
================================================ ===== ======== =============== ======
Senegal
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================= ============== ======= =========== ===== ======== =============== ======
Société
des pétroles
du Sénégal 0.9 0.9
============================================================= ===== ======== =============== ======
Total 0.9 0.9
============================================================= ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============== ======= =========== ===== ======== =============== ======
Block Cayar Profond 0.4 0.4
============================================================== ===== ======== =============== ======
Block St Louis Profond 0.5 0.5
Total 0.9 0.9
============================================================== ===== ======== =============== ======
Trinidad and Tobago
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
========================= ============== ====== ========== ===== ======== =============== ======
Board of Inland Revenue 53.5 53.5
========================================= ====== ========== ===== ======== =============== ======
Ministry of Energy
and
Energy Industries 288.6 1.5 290.0
========================================= ====== ========== ===== ======== =============== ======
Total 342.1 1.5 343.5
========================================= ====== ========== ===== ======== =============== ======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
============= ============== ====== ========== ===== ======== =============== ======
Block 5B 1.5 1.5
============================= ====== ========== ===== ======== =============== ======
BPTT Blocks 342.1 342.1
============================= ====== ========== ===== ======== =============== ======
Total 342.1 1.5 343.5
============================= ====== ========== ===== ======== =============== ======
United Arab Emirates
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================= ============== ======== ========== ===== ======== =============== ========
Department of Finance
Abu Dhabi 3,409.9 4.0 3,413.9
======================================= ======== ========== ===== ======== =============== ========
ADNOC Onshore 2.3 2.3
======================================= ======== ========== ===== ======== =============== ========
Total 3,409.9 6.3 3,416.1
======================================= ======== ========== ===== ======== =============== ========
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
========================== ============== ======== ========== ===== ======== =============== ========
ADNOC Onshore Concession 3,409.9 6.3 3,416.1
========================================== ======== ========== ===== ======== =============== ========
Total 3,409.9 6.3 3,416.1
========================================== ======== ========== ===== ======== =============== ========
United Kingdom
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
======================== ============== =========== ========== ===== ======== =============== =======
Crown Estate 0.3 0.3
======================================== =========== ========== ===== ======== =============== =======
HM Revenue and Customs (a) (20.5) (20.5)
======================================== =========== ========== ===== ======== =============== =======
Oil and gas Authority 7.4 7.4
======================================== =========== ========== ===== ======== =============== =======
Total (20.5) 7.7 (12.7)
======================================== =========== ========== ===== ======== =============== =======
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
================= ============== ======== =========== ===== ======== =============== =======
Andrew 0.3 0.3
======================================================== ===== ======== =============== =======
Clair 1.2 1.2
======================================================== ===== ======== =============== =======
(a) (
Decommissioning 12.7) (12.7)
================================= ===================== ===== ======== =============== =======
ETAP 0.5 0.5
======================================================== ===== ======== =============== =======
Exploration 1.5 1.5
======================================================== ===== ======== =============== =======
Foinaven 3.3 3.3
======================================================== ===== ======== =============== =======
(a) (
Non-Operated 7.8) 0.5 (7.3)
================================= ===================== ===== ======== =============== =======
Pipelines 0.1 0.1
======================================================== ===== ======== =============== =======
Vorlich 0.4 0.4
======================================================== ===== ======== =============== =======
(a) (
Total 20.5) 7.7 (12.7)
================================= ===================== ===== ======== =============== =======
(a) Net refunds result from the carry back of tax losses, resulting
in a refund of taxes paid in prior years.
United States (USA)
$ million
Production Infrastructure
Governments Entitlements Taxes Royalties Fees Bonuses Improvements Total
California State
Controller's
(a)
Office 0.2 0.2
===================== ============= =========== ============ ======= ======== =============== ========
Colorado Dept Of
Treasury 0.8 0.8
===================== ============= =========== ============ ======= ======== =============== ========
Delaware Division (a)
of Revenue 0.7 0.7
===================== ============= =========== ============ ======= ======== =============== ========
Federal Government (b) (41.4) (41.4)
===================== ============= =========== ============ ======= ======== =============== ========
Office of Natural
Resources
Revenue 803.9 8.0 32.0 843.9
===================== ============= =========== ============ ======= ======== =============== ========
Office of Natural
Resources
Revenue - BIA 1.8 0.9 2.6
===================== ============= =========== ============ ======= ======== =============== ========
Southern Ute Indian
Tribe (c) 24.2 5.8 19.0 49.0
===================== ============= =========== ============ ======= ======== =============== ========
(d)
State of Alaska 164.9 214.9 0.3 380.1
===================== ============= =========== ============ ======= ======== =============== ========
State of Colorado 1.7 0.6 2.3
===================== ============= =========== ============ ======= ======== =============== ========
State of Louisiana 36.9 7.6 44.5
===================== ============= =========== ============ ======= ======== =============== ========
State of New Mexico 13.4 1.3 14.7
===================== ============= =========== ============ ======= ======== =============== ========
State of Oklahoma 9.7 1.6 11.4
===================== ============= =========== ============ ======= ======== =============== ========
State of Texas 84.3 54.7 0.4 139.3
===================== ============= =========== ============ ======= ======== =============== ========
State of Wyoming 9.6 0.8 10.4
===================== ============= =========== ============ ======= ======== =============== ========
Total 24,2 285.0 1,107.9 9.5 32.0 1,458.5
--------------------- ------------- ----------- ------------ ------- -------- --------------- --------
Production Infrastructure
Projects Entitlements Taxes Royalties Fees Bonuses Improvements Total
=========================== ============= =========== ========== ===== ======== =============== ========
Alaska 164.9 (d) 214.9 1.2 381.0
=========================== ============= =========== ========== ===== ======== =============== ========
Colorado (c) 24.2 7.5 21.9 53.5
=========================== ============= =========== ========== ===== ======== =============== ========
Gulf of Mexico -
Central 750.5 6.8 32.0 789.2
=========================== ============= =========== ========== ===== ======== =============== ========
Gulf of Mexico -
Western 25.1 0.8 25.9
=========================== ============= =========== ========== ===== ======== =============== ========
Louisiana 36.9 7.6 44.5
=========================== ============= =========== ========== ===== ======== =============== ========
New Mexico 13.4 1.4 14.9
=========================== ============= =========== ========== ===== ======== =============== ========
Oklahoma 9.7 1.8 11.5
=========================== ============= =========== ========== ===== ======== =============== ========
Texas 84.3 54.7 0.4 139.3
=========================== ============= =========== ========== ===== ======== =============== ========
Wyoming 9.6 0.8 10.4
=========================== ============= =========== ========== ===== ======== =============== ========
Payments not attributable
to projects (b) (41.4) 29.2 0.4 (11.7)
=========================== ============= =========== ========== ===== ======== =============== ========
Total 24.2 285.0 1,107.9 9.5 32.0 1,458.5
=========================== ============= =========== ========== ===== ======== =============== ========
(a) Payments to states where bp has no extractive activities relate
to Escheatment of Royalties.
(b) The negative amount reflects the cash payment of current year taxes
for all legal entities which was more than offset by refunds of
taxes for federal losses carried back to prior years.
(c) Payments in kind for 12.6 million mmBtu of gas valued on the basis
of gas prices realized in the area.
(d) Includes payments in kind of $56.9 million for 1.0 million bbls
of crude oil valued per the Royalty Settlement Agreement.
Other Resources
BP payments to governments 2019
Detailed data filed with UK Registrar - extractives.companieshouse.gov.uk/
BP annual and sustainability reporting
Sustainability Report - bp.com/sustainability
Annual Report and Form 20-F - bp.com/annualreport
Our positions on tax and transparency - bp.com/tax
BP economic impact reports
US Economic Impact Report - bp.com/economicimpact-us
bp's Impact on the UK Economy - bp.com/economicimpact-uk
ContactS
L o n don Ho us ton
P r e s s Off i ce D a vi d N i ch ol as Br et t Cl an ton
+ 4 4 ( 0 ) 20 7 4 96 4 + 1 2 81 366 8 3 46
7 08
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