BP - Annual F&O information - including pro forma data*

BP performance versus comparatives: R&M versus indicator margin
This chart shows replacement cost operating profit (pro forma) 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	1999	2000	2001	2002	2003
Replacement cost profit before interest and tax (pro forma) (1) - Total	$m	6,614	19,590	19,147	13,774	20,330
RCPBIT - by business - select from menu
RCPBIT (pro forma) - R&M	$m	1,280	4,061	4,814	2,327	3,144
Indicator - BP average Global lndicator Refining Margin (2)	$/bbl	1.24	4.22	4.06	2.11	3.88

All the financial data for 1999 to 2003 has been restated to reflect (i) the transfer of NGLs operations from E&P to GP&R and (ii) the impact of change in ESOP accounting. Only data for 2002 and 2003 has been restated to reflect the adoption by the group of "Retirement Benefits Reporting Standard (FRS17)"

(1) Replacement cost profit is after exceptional items and excluding stock holding gains and losses.
(2) The Global Indicator Refining Margin (GIM) is the average of seven regional indicator margins weighted for BP's crude refining capacity in each region. Each regional indicator margin is based on a single representative crude with product yields characteristic of the typical level of upgrading complexity.

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