據8月3日BP官網報道，BP業績強勁，并在不斷改善的環境中持續減少凈債務，公司在有紀律的財務框架內增長彈性股息。2021年上半年從盈余現金流中計劃回購14億美元股票。4個重大項目的啟動、太陽能和便利設施的增長將進一步推動公司戰略開展。
一是強勁的業績和凈債務減少
公司第二季度的運營表現很有彈性，有四個主要項目啟動，經營業績表現強勁，包括便利設施毛利率的實質性增長，與2019年相比，運行節省了25億美元的現金成本。
二季度報告利潤為31億美元，而2021年第一季度的利潤為47億美元。
基礎重置成本利潤為28億美元，而上一季度為26億美元。這一結果受到油價上漲的推動，而天然氣營銷和交易的下降抵消了利潤率的上升。
54億美元的營運現金流包括墨西哥灣漏油支付的稅前12億美元和5億美元的營運資本（在調整存貨持有收益和公允價值會計影響后）。
二是凈債務在第二季度末下降到327億美元。
在對用于投資評估和使用價值減值測試的價格假設進行年度審查后，BP對2030年布倫特原油價格的預期提高了，反映出預期的供應限制，而長遠預期有所降低，因為BP預計向低碳經濟轉型的步伐將加快。
由于這些假設的改變，報告的結果包括30億美元的稅前凈減值恢復。
三是在嚴格的財務框架內實現分銷增長。
在BP嚴謹的財務框架內，彈性派息是其首要任務。
董事會宣布將第二季度普通股股息提高4%，至5.46美分，以反映業務的基本表現、環境前景的改善、對資產負債表的信心以及股份回購計劃的啟動。這一增長將在2021-2025年布倫特原油平均現款結存價格在40美元/桶，菜粕主力(RMM)約為11美元/桶，Henry Hub約為3美元/ 百萬英熱的范圍內實現。
在達到凈債務350億美元的目標后，BP第二季度產生了7億美元的盈余現金流，上半年產生了24億美元。考慮到上半年產生的盈余現金流，BP計劃在2021年第三季度業績公布前回購14億美元的股票。2021年，在保持較高投資級信用評級的前提下，董事會仍致力于將剩余現金流的60%用于股票回購，并計劃將剩余的40%用于繼續加強資產負債表。
根據英國石油公司目前的預測，在布倫特原油每桶60美元左右的情況下，根據董事會每個季度的決定，英國石油公司預計每個季度能夠回購約10億美元，并有能力每年將普通股股息增加約4%，到2025年。財務框架內的其他要素保持不變。
董事會在設定每股股息和每季度股票回購時，將考慮現金流盈余的累積水平及前景、現金平衡點及維持較高的投資級信用評級等因素。
英國石油預計將在公布第三季度業績時概述第四季度股票回購計劃。
四是向綜合能源公司轉型的出現重大進展
自一年前概述其新戰略以來，英國石油公司在向IEC轉型方面取得了巨大進展。已經交付了8個重大項目，建設了21千兆瓦的可再生能源管道，增長了便利設施和電氣化。資產重組，達到了100億美元的撤資收益，加強了財務實力，并開始股票回購。
今年第二季度，印度、埃及、安哥拉和墨西哥灣的四個主要項目開始投產。
英國石油繼續大幅擴大其可再生能源管道，在美國購買了一條9吉瓦的太陽能開發管道。Lightsource bp也繼續擴張，增長在葡萄牙，西班牙，希臘和澳大利亞的業務。英國石油公司證實，它打算與英格蘭風力發電公司（EnBW）在蘇格蘭和挪威分別與斯塔特卡夫公司（Statkraft）和阿克爾公司（Aker）競購海上風電租約。
英國石油在倫敦開設了英國首個車隊專用電動汽車快速充電中心，這是旨在面向歐洲各城市的一系列項目中的第一個。在美國，該公司同意全面擁有桑頓公司（thornton）的業務，該業務預計將于2021年第三季度完成，使bp成為美國中西部領先的便利店運營商。
BP首席執行官伯納德·魯尼表示：“我們已經實現了英國石油成為綜合能源公司的戰略一年，并且取得了良好的進展。在以有紀律的方式投資未來的同時，又取得了一個季度的強勁業績。基于我們業務的基本表現、環境前景的改善以及對我們資產負債表的信心，我們將普通股的彈性股息提高4%，此外，我們將從上半年的盈余現金流中回購14億美元。若油價在平均每桶60美元左右，我們預計每個季度能夠回購約10億美元，并有能力每年將普通股股息增加約4%，直至2025年。這表明我們在為股東創造價值的同時，在向著未來轉型的同時，我們仍在繼續努力。”
王佳晶 摘譯自 BP官網
原文如下：
Second quarter and half year 2021
Strong results and continued net debt reduction in an improving environment
Growth of resilient dividend within disciplined financial frame
Executing $1.4 billion buybacks from first half 2021 surplus cash flow
Further strategic progress with 4 major project start-ups, growth in solar and convenience
Strong results and continued net debt reduction in an improving environment
Operating performance was resilient in the second quarter with four major project* start-ups, strong momentum in the customers business, including material growth in convenience gross margin*, and delivery of $2.5 billion of cash costs* savings on a run-rate basis relative to 2019, around six months earlier than targeted.
Reported profit for the quarter was $3.1 billion, compared with $4.7 billion for the first quarter 2021.
Underlying replacement cost profit* was $2.8 billion, compared with $2.6 billion for the previous quarter. This result was driven by higher oil prices and margins offset by a lower result in gas marketing and trading.
Operating cash flow* of $5.4 billion includes $1.2 billion pre-tax of Gulf of Mexico oil spill payments within a working capital* build of $0.5 billion (after adjusting for inventory holding gains and fair value accounting effects).
Net debt* fell to $32.7 billion at the end of the second quarter.
Following the annual review of price assumptions used for investment appraisal and value-in-use impairment testing, bp's Brent oil price assumption to 2030 is increased to reflect expected supply constraints, while longer-term assumptions are lowered as bp expects an acceleration of the pace of transition to a low carbon economy.
As a result of these changed assumptions, the reported result includes a pre-tax net impairment reversal of $3.0 billion.
Distribution growth within disciplined financial frame
A resilient dividend is bp's first priority within its disciplined financial frame.
Reflecting the underlying performance of the business, an improving outlook for the environment, confidence in our balance sheet and commencement of the share buyback programme, the board has announced an increase in the second quarter dividend of 4% to 5.46 cents per ordinary share. This increase is accommodated within a 2021-5 average cash balance point* of around $40 per barrel Brent, $11 per barrel RMM and $3 per mmBtu Henry Hub (all 2020 real).
bp generated surplus cash flow* of $0.7 billion in the second quarter and $2.4 billion in the first half after having reached its net debt target of $35 billion. Taking into account surplus cash flow* generated in the first half of the year, bp intends to execute a share buyback of $1.4 billion prior to announcing its third quarter 2021 results. For 2021, and subject to maintaining a strong investment grade credit rating, the board remains committed to using 60% of surplus cash flow for share buybacks and plans to allocate the remaining 40% to continue strengthening the balance sheet.
On average, based on bp’s current forecasts, at around $60 per barrel Brent and subject to the board's discretion each quarter, bp expects to be able to deliver buybacks of around $1.0 billion per quarter and have capacity for an annual increase in the dividend per ordinary share of around 4%, through 2025. Other elements of the financial frame are unchanged.
The board will take into account factors including the cumulative level of and outlook for surplus cash flow, the cash balance point and the maintenance of a strong investment grade credit rating in setting the dividend per ordinary share and the buyback each quarter.
bp expects to outline plans for the fourth-quarter share buyback at the time of its third quarter results.
Strong progress in our transformation to an integrated energy company
Since outlining its new strategy a year ago, bp has made strong progress in its transformation to an IEC. It has delivered 8 major projects*, built a 21GW renewable pipeline, grown convenience and electrification, reorganized, reached over $10 billion of divestment proceeds, strengthened the financial frame and begun share buybacks.
Four major projects began production in the second quarter – in India, Egypt, Angola and the Gulf of Mexico.
bp has continued to significantly expand its renewables pipeline, buying a 9GW solar development pipeline in the US. Lightsource bp also continued to expand, growing in Portugal, Spain, Greece and Australia. bp confirmed its intention to bid for offshore wind leases in Scotland with EnBW and in Norway with Statkraft and Aker.
bp opened the UK’s first fleet-dedicated EV rapid charging hub in London, the first of a series intended for cities across Europe. In the US, bp agreed to take full ownership of the Thorntons business, which is expected to complete in the third quarter of 2021, positioning bp to be a leading convenience operator in the Midwest US.
Bernard Looney,chief executive officer said, we are a year into executing bp's strategy to become an integrated energy company and are making good progress - delivering another quarter of strong performance while investing for the future in a disciplined way. based on the underlying performance of our business, an improving outlook for the environment and confidence in our balance sheet, we are increasing our resilient dividend by 4% per ordinary share and in addition, we are commencing a buyback of $1.4 billion from first half surplus cash flow. On average at around $60 per barrel, we expect to be able to deliver buybacks of around $1.0 billion per quarter and to have capacity for an annual increase in the dividend per ordinary share of around 4%, through 2025. This shows we continue to perform while transforming bp - generating value for our shareholders today while we transition the company for the future.
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