BAKU, Azerbaijan, Oct.29
By Leman Zeynalova – Trend:
Organic capital expenditure of BP for the third quarter and nine months was $3.9 billion and $11.3 billion respectively, Trend reports citing BP.
For comparison, organic capital expenditure was $3.7 billion in the third quarter and $10.7 billion for the first nine months of 2018.
“We reported $3.7 billion and $10.7 billion for the same periods in 2018 (prior to the implementation of International Financial Reporting Standards),” said BP.
Inorganic capital expenditure for the third quarter and nine months was $0.1 billion and $4.0 billion respectively, including $3.5 billion for the nine months relating to the BHP acquisition, compared with $0.7 billion and $1.5 billion for the same periods in 2018, reads the report.
The company’s operating cash flow, excluding Gulf of Mexico oil spill payments, was $6.5 billion for the quarter, including a $0.1 billion working capital release (after adjusting for net inventory holding losses). Gulf of Mexico oil spill payments were $0.4 billion on a post-tax basis.
“For the nine months, underlying replacement cost (RC) profit was $7,423 million, compared with $9,246 million in 2018. Underlying RC profit is after adjusting RC profit for a net charge for non-operating items of $4,044 million and net favourable fair value accounting effects of $140 million (both on a post-tax basis),” said the report.
RC profit was $3,519 million for the nine months, compared with $7,269 million in 2018.
For the third quarter, underlying RC profit was $2,254 million, compared with $3,838 million in 2018. Underlying RC profit is after adjusting RC loss for a net charge for non-operating items of $2,931 million, primarily divestment-related impairment charges and net favourable fair value accounting effects of $326 million (both on a post-tax basis).
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