|
|
 |
|
Viewing report
|
|
|
|
BP PLC Jul 03
Standard & Poors, July 2003
Abstract
Massive, diversified, and cost-competitive upstream operations with strong reserve replacement rates. Unique competitive strengths to supply the U.S. gas market and capture strong returns. Massive, diversified, and profitable refining and marketing operations. Conservative financial profile and policies. Moderate upstream growth. Significant short-term debt. High dividend payouts that absorb most free cash flow. Significant deficits on post-retirement benefits at year-end 2002. The ratings on U.K.-based oil major BP PLC (BP) reflect its extremely strong and geographically diverse business portfolio; solid financial profile; and conservative financial policy. The company's key competitive strengths include: A massive hydrocarbon reserve base--15.7 billion barrels of oil equivalent (boe) at year-end 2002; 50% crude, 54% developed--especially in North America, the U.K., and Trinidad, with particularly promising developments...
Companies mentioned in this report are: BP PLC,BP Products North America Inc.,Anaconda Co. (The),ARCO Pipeline Co.,Atlantic Richfield Co.,Standard Oil Co. Inc.,Standard Oil Co.,BP Co. North America Inc.,BP Corp. North America Inc.,Union Texas Petroleum Holdings Inc.,BP Australia Capital Markets Ltd.,Burmah Castrol Inc.,BP Capital Markets PLC,BP Capital Markets America Inc.,Burmah Castrol PLC,Amoco Argentina Oil Co.,Jupiter Insurance Ltd.,BP America Production Co.,BP Canada Finance Co.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
|
|
|
|
