BP Annual Report and Form 20-F 2011 - Company Reporting

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Parent company financial statements of BP p.l.c.13. Directors’ remuneration$ millionRemuneration of directors 2011 2010Total for all directorsEmoluments 10 15Gains made on the exercise of share options – 2Amounts awarded under incentive schemes 1 4EmolumentsThese amounts comprise fees paid to the non-executive chairman and the non-executive directors and, for executive directors, salary and benefits earnedduring the relevant financial year, plus bonuses awarded for the year. There was no compensation for loss of office in 2011 (2010 $3 million and 2009 nil).Pension contributionsDuring 2011, one executive director participated in a non-contributory pension scheme established for UK staff by a separate trust fund to whichcontributions are made by BP based on actuarial advice. Two US executive directors participated in the US BP Retirement Accumulation Plan during 2011.Office facilities for former chairmen and deputy chairmenIt is customary for the company to make available to former chairmen and deputy chairmen, who were previously employed executives, the use of officeand basic secretarial facilities following their retirement. The cost involved in doing so is not significant.Further informationFull details of individual directors’ remuneration are given in the directors’ remuneration report on pages 139 to 151.The parent company financial statements of BP p.l.c. on pages PC1 – PC14 do not form part of BP’s Annual Report on Form 20-F as filed with the SEC.PC14 BP Annual Report and Form 20-F 2011
Reports and publicationsBP’s reports and publications are available to view onlineor download from bp.com/annualreportSummary Review 2011Read a summary of our financialand operating performance inBP Summary Review 2011 in printor online.bp.com/summaryreviewSustainability ReviewRead the summaryBP Sustainability Review2011 in print or read moreonline from late March 2012.bp.com/sustainabilityAcknowledgementsDesign saslondon.comTypesetting RR DonnelleyPrinting Pureprint Group Limited, UK,ISO 14001, FSC ® certified andCarbonNeutral ®Photography Mehmet Binay,Stuart Conway, Richard Davies,David Gold, Marcus Almeida Kmoedt,Rocky Kneten, Simon Kreitem,Bob Masters, Mark Morrison,Chris Moyse, Aaron Tait,Graham Trott, Bob WheelerPaper This Annual Report and Form 20-Fis printed on FSC-certified MohawkOptions 100% (cover and Groupoverview) and Revive Pure White Offset(remaining text pages). This paper hasbeen independently certified accordingto the rules of the Forest StewardshipCouncil (FSC) and was manufactured ata mill that holds ISO 14001 certification.The inks used are all vegetable oil based.© BP p.l.c. 2012You can order BP’s printed publications, free of charge, from:US and CanadaPrecision IRToll-free +1 888 301 2505Fax +1 804 327 7549bpreports@precisionir.comUK and Rest of WorldBP Distribution ServicesTel +44 (0)870 241 3269Fax +44 (0)870 240 5753bpdistributionservices@bp.com
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Cover imagePhotograph of DeepseaSta
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Cross reference to Form 20-FPageIte
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Miscellaneous termsIn this document
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6 BP Annual Report and Form 20-F 20
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Chairman’s letterCarl-Henric Svan
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During the year, the remuneration c
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Business review: Group overviewBP A
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SafetyDuring the year, we reorganiz
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In Refining and Marketing, our worl
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Crude oil and gas prices,and refini
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In detailFor more information, seeR
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Our market: Longer-term outlookThe
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BP’s distinctive capabilities and
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Technology will continue to play a
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In detailFor more information,see C
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In detailFind out more online.bp.co
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BP Annual Report and Form 20-F 2011
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Below BP has asignificant presencei
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What you can measure6 Active portfo
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Business review: Group overview2012
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Our risk management systemOur enhan
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Our current strategic priorities ar
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Our performance2011 was a year of f
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Left BP employeesat work in Prudhoe
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We continued to sell non-core asset
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Reported recordableinjury frequency
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Business reviewBP in more depth56 F
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Business reviewThe primary addition
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Business reviewRisk factorsWe urge
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Business review2010. Similar action
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Business reviewBusiness continuity
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Business reviewSafetyOver the past
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Business reviewour review of all th
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Business reviewGreenhouse gas regul
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Business reviewresources such as dr
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Business reviewExploration and Prod
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Business reviewCompleting the respo
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Business reviewgrants, which were s
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Business reviewOur performanceKey s
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Business reviewwere in Russia (Oren
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Business reviewCanadaIn Canada, BP
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Business review• In March 2011, T
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Business reviewaccess advantageous
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Business reviewBP’s vice presiden
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Business reviewhttp://www.bp.com/do
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Business reviewbalance of participa
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Business reviewAcquisitions and dis
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Business reviewLPGOur global LPG ma
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Business reviewOther businesses and
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Business reviewLiquidity and capita
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Business reviewThe group expects it
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Business reviewFrequently, work (in
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Business reviewHazardous and Noxiou
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Business reviewpart of a larger por
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Directors andsenior management114 D
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Directors and senior managementDire
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Directors and senior managementH L
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Corporate governanceCorporate gover
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Corporate governanceAntony Burgmans
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Corporate governanceBoard oversight
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Corporate governanceBoard and commi
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Corporate governancefinancial repor
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Corporate governancechairs and secr
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Corporate governance• Oversee GCR
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Corporate governanceCommittee’s r
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Corporate governanceControls and pr
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Corporate governanceThe Act require
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Directors’ remuneration reportRem
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Directors’ remuneration reportSum
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Directors’ remuneration reportSaf
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Directors’ remuneration reportRem
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Directors’ remuneration reportThe
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Directors’ remuneration reportSha
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Directors’ remuneration reportNon
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Additional informationfor sharehold
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Financial statements174 Statement o
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Consolidated financial statements o
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Notes on financial statements1. Sig
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Notes on financial statementshttp:/
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Notes on financial statements3. Bus
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Notes on financial statements5. Dis
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Notes on financial statements7. Int
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Notes on financial statements10. Im
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Notes on financial statements38. Ca
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Notes on financial statementsTotal
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BP Annual Report and Form 20-F 2011 - Company Reporting

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