BP Global November 22 2012

Presentation to the Board of Directors

Agenda Organizational Direction

Situational Analysis

Alternate Goals and Plans

Goal and Plan Evaluation

Goal and Plans Selection

Implementation

Conclusion

Organizational Direction

Organizational Direction We strive to be a safety leader in our industry, a world-class

operator, a responsible corporate citizen and a great employer.

We are working to enhance safety and risk management, earn back trust and grow value.

Keeping a relentless focus on safety is a top priority for us.

Good management of risk helps to protect the people at the frontline, the places in which we operate and the value we create.

We understand that operating in politically-complex regions and technically-demanding geographies, such as deep water and oil sands, requires particular sensitivity to local environments.

We continue to enhance our systems, processes and standards, including how we manage contractors. ("Bp", 2012)

Situational AnalysisMitigate and eliminate situations that put the

company at risk

Goal transparency is key to building trust and relationships

Simplify goals so interpretations are clear

Have a broader presence in the communities we serve

Communicating is key to building trust and relationships

Alternatives

AlternativesMistrust by the community

Lack of generated revenue

Increased injuries to our team

Lack of knowledge regarding BP

Misperceptions regarding BP

Possible increase revenue by the competition

GoalsRecognize potential for our presence to impact the

lives of indigenous communities

Sensitivity to community displacement as a result of our company projects

Complete Revenue transparency with governments, non-governmental organizations and international agencies

Manage environmental sensitivities and the potential impacts on communities

Create a culture of Safety

Oversight Day-to-day risk identification and management

occurs in the group operations and functions, with the approach varying according to the types of risk we face.

Oversight and governance occurs at board, executive and function levels to help foster effective group-wide oversight, business planning and resource allocation, intervention and knowledge sharing.

Implementation

Monitor and ControlMonitor Control

Realizing the Opportunity

Production Increasing potential to sustain growth to 2020

Efficiency Projects: improve capital efficiency Drilling: close gap to best well in each basin Production costs: maintain momentum

Refining and Marketing Safety is key Be a Pillar in the community

Costs: return to below 2004 levels Continue production to keep costs low Refining: targeting break-even in similar environment to 2009 ("Bp", N.D.)

Planning….Strategic Plan

Tactical Plan

Operational Plan

Contingency Plan

ReferencesBP. (2012). Retrieved from

http://www.bp.com/sectiongenericarticle800.do?categoryId=9036153&contentId=7066889

BP. (N.D.). Retrieved from http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/I/IC_bp_strategy_presentation_march_2010_slides.pdf