BAKU, Azerbaijan, Feb.4
By Leman Zeynalova – Trend:
Net debt of BP at 31 December 2019 was $45.4 billion, compared with $43.5 billion a year ago, Trend reports with reference to the company.
“Gearing at 31 December 2019 was 31.1 percent, compared with 30 percent a year ago. Net debt and gearing are non-GAAP (Generally Accepted Accounting Principles) measures,” BP said in its report.
BP’s profit for the fourth quarter and full year was $19 million and $4,026 million respectively, compared with $766 million and $9,383 million for the same periods in 2018.
Organic capital expenditure for the fourth quarter and full year was $4.0 billion and $15.2 billion respectively.
“We reported $4.4 billion and $15.1 billion for the same periods in 2018 (prior to the implementation of IFRS 16). Inorganic capital expenditure for the fourth quarter and full year was $0.2 billion and $4.2 billion respectively, including $3.5 billion for the full year relating to the BHP acquisition, compared with $8.5 billion and $9.9 billion for the same periods in 2018. Organic capital expenditure and inorganic capital expenditure are non-GAAP measures,” reads the report.
Operating cash flow excluding Gulf of Mexico oil spill payments was $7.6 billion for the fourth quarter and $28.2 billion for the full year.
“These amounts include a working capital build of $0.2 billion in the fourth quarter and a release of $0.3 billion in the full year, after adjusting for net inventory holding losses or gains and working capital effects of the Gulf of Mexico oil spill. The comparable amounts for the same periods in 2018 were $7.1 billion and $26.1 billion (prior to the implementation of IFRS 16),” said the company.
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