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Table Major oil companies OPEC Annual Statistical Bulletin 2004
BP
132
Costs, deductions, taxation and net income as percentage of revenues of the major oil companies, 2000–2004
2000 2001 2002 2003 2004
Revenues 100 100 100 100 100
Cost of sales 90.1 91.5 94.4 93.0 92.4
Income tax (benefit) 4.1 3.6 2.4 2.6 2.8
Special deductions – – – – –
Net income (loss) 5.8 4.8 3.2 4.4 4.8
ExxonMobil
Revenues 100 100 100 100 100
Cost of sales 87.6 88.6 91.2 86.8 86.2
Income tax (benefit) 4.8 4.2 3.2 4.5 5.3
Special deductions – – – – –
Net income (loss) 7.6 7.2 5.6 8.7 8.5
Total
Revenues 100 100 100 100 100
Cost of sales 88.4 87.1 89.3 88.2 85.4
Income tax (benefit) 5.5 5.6 4.9 5.1 6.8
Special deductions – – – – –
Net income (loss) 6.0 7.3 5.8 6.7 7.8
Royal Dutch/Shell
Revenues 100 100 100 100 100
Cost of sales 87.5 88.8 92.1 91.8 90.1
Income tax (benefit) 5.9 5.0 3.5 3.5 4.5
Special deductions – – – – –
Net income (loss) 6.6 6.2 4.4 4.7 5.4
ChevronTexaco
Revenues 100 100 100 100 100
Cost of sales 88.2 92.2 95.8 89.7 86.6
Income tax (benefit) 5.3 4.1 3.1 4.4 4.8
Special deductions – 0.6 – – –
Net income (loss) 6.5 3.1 1.1 6.0 8.6
Total majors
Revenues 100 100 100 100 100
Cost of sales 88.3 89.6 92.5 90.1 88.7
Income tax (benefit) 5.1 4.4 3.3 3.8 4.6
Special deductions – 0.1 – – –
Net income (loss) 6.6 5.9 4.2 6.0 6.7
Notes: BP and Amoco, and Exxon and Mobil merged to create BP Amoco and ExxonMobil in December 1998 and November 1999, respectively. In 2003, BP
Amoco was renamed BP. Both data series have been adjusted to include the new companies. TotalFina merged with Elf Aquitaine in February 2000 to create
TotalFinaElf, which was renamed Total in 2003. The data series has been adjusted to include the new company from 1997. Chevron and Texaco merged to
create ChevronTexaco in October 2001. Data include companies’ shares in all operations in which they have an interest. Percentages may not add up to 100
due to independent rounding.