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BP Corporate Communications – 24 February 2003 Wyoming Pipeline Authority Meeting October 28th, 2003 Dan J. Bump Director – Marketing & Origination, West.

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Presentation on theme: "BP Corporate Communications – 24 February 2003 Wyoming Pipeline Authority Meeting October 28th, 2003 Dan J. Bump Director – Marketing & Origination, West."— Presentation transcript:

1 BP Corporate Communications – 24 February 2003 Wyoming Pipeline Authority Meeting October 28th, 2003 Dan J. Bump Director – Marketing & Origination, West Region BP Energy N.A.

2 Introduction Look at BP not just as a major producer, but also as your preferred counter-party for: – physical purchases/sales – customized financial products – asset management Focused on building a long term business Strong, sophisticated risk management capabilities Excellent credit rating makes BP a preferred counter-party

3 Who We Are …market capitalization of ~$200 billion BP is an oil, gas, petrochemicals and renewables company we have operations on 6 continents and in over 100 countries …annual revenues of $179 billion (2002) …over 26,500 service stations worldwide …the 2nd largest oil company and 7th largest company in the world …serving 13 million customers every day

4 Our Assets And Markets Today Upstream Highest profitability, lowest cost of supply Upstream Highest profitability, lowest cost of supply Distinctive gas reserves Leading explorer Gas & Power Global gas monetization presence Leading NA & UK gas sales Global LNG player Gas & Power Global gas monetization presence Leading NA & UK gas sales Global LNG player Chemicals Leadership in 3 sectors Advantaged technology Biased to high growth markets Chemicals Leadership in 3 sectors Advantaged technology Biased to high growth markets Downstream Advantaged refining portfolio  World Class Lubricants  Advantaged real estate in key markets Downstream Advantaged refining portfolio  World Class Lubricants  Advantaged real estate in key markets

5 Brands We Market Under In North America

6 BP’s Growth Strategy, Strategically Asset-based BP Corporation North America, Inc.Strictly Confidential – for BP client use only BP merges with Amoco Q3 ‘98 BP acquires ARCO Q2 ‘00 BP acquires Vastar Q4 ’00 BP forms Integrated Supply & Trading Group Q3 ‘01 BP acquires IGI Q4 ‘00 BP acquires Cibola Q3 ‘01 BP JV’s with Tejas PL Q3 ‘02 Source: BP Internal Data

7 Calgary Houston North American Gas and Power (NAGP) Our Mission  To be the provider of choice for reliable gas and electric energy throughout North America, through providing exceptional levels of service, efficiency and knowledge Our Organization  Over 700 people across North America, managing 20bcf/d of gas  Linked into a global Supply & Trading (IST) organization  Pan-North American coverage, via geographically based “corridors”, focused on:  Trading, Marketing and Origination  Operations and Scheduling  Compliance across business risk, credit and control  Market analysis, risk management and structured products

8 Our North American Supply Position Trinidad Canada Wyoming San Juan Gulf of Mexico Alaska Permian Gulf Coast Louisiana Mid-Continent Gulf Coast South Texas Mackenzie Delta Cove Point LNG BP Net Production (MMbtu/d) San Juan~ 823 East Rockies (Wamsutter) ~ 145 West Rockies (SW Wyoming) ~ 275 Western Production

9 North American Gas and Power (NAGP) West Region Goals / Strategies Grow producer marketing business Expand structured products offerings Provide asset management services to the increasing base of transportation capacity holders in the West Continue growing our portfolio of transportation & storage capacity Utilize corporate financial strength (AA+ credit rating) to be the preferred counter-party for long-term transactions of all types {supply, market, transportation, etc} Continue providing services and solutions for Upstream flow assurance and financial stability Customer-Driven Focus

10 Our Commitment – Practical Solutions to Manage Your Business We believe in providing greater reliability, flexibility and choice –Our risk management services help to offer supply/market pricing structures on your terms –Our advanced supply and logistics resources draw upon continent wide networks and deep local knowledge We are committed to an increasingly stable market environment –Unlocking gas supply opportunities in North America –Supporting new infrastructure –Providing market liquidity Our aspiration is to offer increasingly tailored services that anticipate and respond to your gas supply, pricing and risk management needs

11 Stability Through….. Our scale, supply position, trading and marketing organization and a commitment to meeting the needs of our customers Financial Stability Market Cap $200 Billion Fixed Assets $105 Billion S&P AA+ Credit Rating Integrated Supply & Trading 3,000 people worldwide Multiple commodities (gas, oil, ngls, finance) Products and Services Supply infrastructure Nat.Gas Supply Position Scale, Diversity and security of supply

12 Reliability, through ……. Our advanced supply and logistics resources in the West draw upon region-wide networks and deep local knowledge  Extensive operational network; 2 bcf storage capacity; 2 bcf/d transportation capacity  Nominating and balancing over 4 bcf/d  24 Hour operational coverage  Managing and optimizing a wide range assets Socal PG&E CG Malin Stanfield Sumas Kingsgate AECO Opal Cheyenne Hub Permian San Juan Kern River PG&E Gas Trans NW Jackson Prairie Mist Aitken Creek NW Pipeline Clay Basin CIG & WIC El Paso & TW Cherry Pt Carson

13 Products and Risk Management Physical Product Purchases and Sales –natural gas –electricity –refined products, crude Risk Management –Fixed Price, –Caps/Collars, –Swaps/Options –Balance of Month pricing Customized Pricing –structured pricing –exotics –cross Commodity Assets and Optimization Asset Management –Transportation –Marketing Services –On Site Alternative Fuels –Storage Energy Management Services –Supply Management –Integrated Custom Solutions –On-site Utilities Management –Co-Generation Development Environmental Services –Green Power (Green Mountain Energy) –Solar Key Offerings

14 Key Results Firm purchases for flow assurance -- Index-related or fixed -- Imbedded structured products -- Any range of terms Optimizing contractual assets -- Maximize value of transport &/or storage capacity Managing gas price risk -- Fixed prices or Basis swaps -- Collars; (fixed price or basis collars) -- Caps, Floors -- Enhanced caps, floors (“three-way’s”) -- Participation swaps -- Cross-commodity products

15 Conclusion A web of Assets and Customers managed by experienced industry professionals located across North America enables BP to deliver… Material physical and financial liquidity Firm, multi-term transactions Proven pricing and execution capability Leading edge, creative risk products At virtually every natural gas region in North America

16 BP Corporate Communications – 24 February 2003 CONTACTS: Marketing & Origination Dan J. Bump Bob Williams Kevin Hazell Trading (Houston) Jeff Hornback Emily Huffman BP Energy N.A.


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