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BP p.l.c. | | | - 2 - | |
BP Capital Markets p.l.c. | | | | |
Upon the basis of such examination, we advise you that, in our opinion, (1) assuming the Securities have been duly authorized, executed, issued and delivered by BP Capital insofar as the laws of England and Wales are concerned, the Securities constitute valid and legally binding obligations of BP Capital and (2) assuming the Guarantees have been duly authorized, executed and delivered by BP insofar as the laws of England and Wales are concerned, the Guarantees constitute valid and legally binding obligations of BP, subject, in each case, to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.
In rendering the foregoing opinion, we are not passing upon, and assume no responsibility for, any disclosure in any registration statement or any related prospectus or other offering material relating to the offer and sale of the Securities.
The foregoing opinion is limited to the Federal laws of the United States and the laws of the State of New York, and we are expressing no opinion as to the effect of the laws of any other jurisdiction. For purposes of our opinion, we have assumed that (i) each of BP and BP Capital has been duly incorporated and is an existing public limited company under laws of England and Wales and (ii) the Indenture relating to the Securities has been duly authorized, executed and delivered by each of BP and BP