BP ended 2014, which closed with a profit attributable to shareholders down by 84%, at 3,7 billion dollars compared to the 23,4 billion obtained in the previous year. As regards the fourth quarter alone, the oil company recorded a loss of 4,4 billion, while in the same period of 2013 it had recorded a profit of 1,04 billion.
The significant depreciation of oil and write-downs of around 3,5 billion dollars weighed on the company's results, as explained in the note released by the group, as well as the absence in the accounting records of extraordinary transactions such as the sale of TNK, which in 2013 had yielded about 12 billion.
Production also decreased, to 3,151 million barrels per day (mboe/d) against 3,230 mboe/d recorded in 2013. A reduction that reflects, in this case, the termination of the concession in Abu Dhabi and some divestments partially offset by a increased production of Rosneft in 2014.
For 2015, the company announced plans to contain costs, reducing investments in exploration and production and postponing a number of upstream projects. As a result, the 2015 capex should be around 20 billion dollars compared to the 24-26 billion expected.
