BP plc Presents at UBS Global Oil and Gas Conference, May-20-2013 . Venue: Four Seasons Hotel, 98 San Jacinto Blvd., Austin, Texas, United States.

BP plc announced group unaudited earnings results for the first quarter of 2013. For the quarter, the company reported total revenues and other income of $107,214 million against $97,417 million for the same period a year ago. Profit before taxation was $19,734 million against $8,756 million a year ago. Profit for the period was $16,942 million against $5,828 million a year ago. Profit attributable to company shareholders was $16,863 million against $5,767 million a year ago. Profit for the period attributable to company shareholders per diluted share was 87.61 cents against 29.97 cents a year ago. Net cash provided by operating activities was $3,967 million against $3,406 million a year ago. Capital expenditure was $5,729 million against $5,447 million a year ago. Closing net debt was $17,663 million. Underlying replacement cost profit for the quarter was $4.2 billion, compared to $3.9 billion in the fourth quarter and $4.7 billion in the first quarter of 2012. Operating cash flow in the quarter was $4.0 billion, compared with $3.4 billion in the first quarter of 2012. The company announced a quarterly dividend of 9 cents per ordinary share ($0.54 per ADS). The dividend is due to be paid on 21 June 2013 to shareholders and ADS holders on the register on 10 May 2013. Reported production of oil and gas excluding TNK-BP and Rosneft was 2.33 million barrels of oil equivalent a day, around 2% higher than the fourth quarter but 5% lower than the same period in 2012, primarily due to divestments. Following the Rosneft transaction, total oil and gas production for the Group is over three million barrels of oil equivalent per day. Reported production in the second quarter of 2013 is expected to be lower as a result of planned seasonal turnaround activity concentrated on higher-margin assets in the Gulf of Mexico and the North Sea, together with the ongoing impact of divestments. BP remains on track for the start-up of four new upstream projects in 2013 and expects to take five final investment decisions during the year. BP expects to drill between 15 and 25 exploration wells by the end of the year, eight of which are currently in progress, including wells in Egypt, India, Jordan, Gulf of Mexico, and Indonesia.

BP plc, Q1 2013 Earnings Call, Apr 30, 2013