BP Annual data

BP performance versus comparatives: R&M versus indicator margin
This chart shows replacement cost profit before interest and tax of the Refining and Marketing business segment (bar format, left hand scale), compared with the BP average Global Indicator Refining Margin (line format, right hand scale).

Image with a graph of BP performance versus comparatives: R&M versus indicator margin

	Units	2001 (UK GAAP - pre-FRS17)	2002 (UK GAAP)	2003 (IFRS)	2004 (IFRS)	2005 (IFRS)
Replacement cost profit before interest and tax (1,2) - Total	$m	16,562	11,200	18,712	23,389	29,796
RCPBIT - by business - select from menu
RCPBIT - R&M	$m	4,454	1,936	3,162	5,194	4,394
Indicator - BP average Global lndicator Refining Margin (3)	$/bbl	4.36	2.27	4.08	6.31	8.6

The financial information for 2003 and 2004 has been restated to reflect the adoption of IFRS. The financial information for 2000 to 2002 has not been restated for IFRS and remains on the basis of UK GAAP. UK GAAP information for 2002 reflects the adoption by the group of Financial Reporting Standard No. 17 'Retirement Benefits' (FRS 17) with effect from 1 January 2004. Financial information for 2000 and 2001 has not been restated for FRS 17.

(3) The Global Indicator Refining Margin (GIM) is the average of six regional indicator margins weighted for BP's crude oil refining capacity in each region. Each regional indicator margin is based on a single representative crude oil with product yields characteristic of the typical level of upgrading complexity. The regional indicator margins may not be representative of the margins achieved by BP in any period because of BP's particular refinery configurations and crude and product slate. The GIM data shown above excludes the Grangemouth and Lavéra refineries.

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BP - Annual data 2001- 2005