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新浪体育nba比分直播:Downstream investor day 2017

Tufan Erginbilgic and members of the Downstream executive team hosted an investor day which provided a strategic update on BP’s Downstream activities and further insight into the fuels marketing, lubricants and manufacturing businesses

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A Downstream business which is safer and more resilient, with material and sustainable earnings growth potential.
Tufan ErginbilgicChief executive, Downstream.

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  • A track record of performance delivery - $3bn underlying earnings growth delivered between 2014 and 2016, with more than $3bn still to come by 2021.
  • Downstream strategy has five key priorities:
    • Safety remains our core value and first priority
    • Continue to grow our already differentiated and high returning marketing businesses
    • Further improve our top quartile refining performance and petrochemicals cash breakeven performance.
    • Continue to focus on delivering cost efficiencies and rigorous cost management.
    • Continue to develop new products, offers and new business models that support transition to lower carbon and digitally enabled future.
  • Through the rigorous execution of our strategy we expect to deliver $9-10bn of free cash flow, with returns of around 20% in 2021.
Tufan Erginbilgic, chief executive, Downstream

Fuels marketing

Our Fuels marketing business is a global business which is differentiated through its strong market positions, brands and distinctive customer offers. These are underpinned by the strength of our partnerships, technology and customer relationships.

BP forecourt
  • A material part of Downstream, contributing around 40% of Downstream earnings in 2016.
  • A track record of growth - more than $0.6bn of earnings growth between 2014 and 2016 at constant currencies.
  • A differentiated business through an advantaged portfolio of assets with good exposure to growth markets and highly attractive returns.
  • Material growth plans to deliver more than $1.4bn of earnings growth between 2016 and 2021.

Lubricants

Castrol lubricants is a business with a great heritage, globally recognised brands?and??a strong track record of delivery with good exposure to growth markets?as well as?the premium lubricants segment.

Castrol motorcycle
  • 118 year old global brand with sustained track record of innovation and technology leadership.
  • Delivered $0.4bn of earnings growth between 2014 and 2016 at constant currencies.
  • Growth plans underpinned by strong brands, differentiated technology and customer relationships.
  • More than $0.6bn of earnings growth planned between 2016 and 2021 with further expansion in growth countries and the premium lubricants segment.

Advantaged manufacturing

We have an advantaged manufacturing portfolio that is safer and more reliable with robust programs in place to further strengthen our competitive position and grow earnings.

Sunset over Cherry point refinery
  • A track record of delivery, with underlying earnings growth of $1.5bn between 2014 and 2016, and plans in place to further grow earnings by more than $1bn by 2021.?
  • Our refining portfolio is ranked within the industry top quartile on net cash margin and our plans continue to further strengthen this position.
  • In Petrochemicals we have significantly reduced the breakeven of the business and our plans reduce it further, to over 40% by 2018.
  • Delivery of these improvements are underpinned through asset by asset business improvement programs.
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