BP p.l.c. (BP) 20-F 18 Mar 20 2019 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2019shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	BP PLC
Entity Central Index Key	0000313807
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	21,535,839,814
First Preference Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	7,232,838
Second Preference Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	5,473,414

Group income statement

Group income statement - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Profit (loss) [abstract]
Sales and other operating revenues		$ 278,397	$ 298,756	$ 240,208
Earnings from joint ventures – after interest and tax		576	897	1,177
Earnings from associates – after interest and tax		2,681	2,856	1,330
Interest and other income		769	773	657
Gains on sale of businesses and fixed assets		193	456	1,210
Total revenues and other income		282,616	303,738	244,582
Purchases		209,672	229,878	179,716
Production and manufacturing expenses		21,815	23,005	24,229
Production and similar taxes		1,547	1,536	1,775
Depreciation, depletion and amortization		17,780	15,457	15,584
Impairment and losses on sale of businesses and fixed assets		8,075	860	1,216
Exploration expense		964	1,445	2,080
Distribution and administration expenses		11,057	12,179	10,508
Profit before interest and taxation		11,706	19,378	9,474
Finance costs		3,489	2,528	2,074
Net finance expense relating to pensions and other post-retirement benefits		63	127	220
Profit (loss) before taxation		8,154	16,723	7,180
Taxation		3,964	7,145	3,712
Profit (loss) for the year	[1],[2]	4,190	9,578	3,468
Attributable to
BP shareholders		4,026	9,383	3,389
Non-controlling interests		$ 164	$ 195	$ 79
Ordinary Shares
Profit for the year attributable to BP shareholders
Basic earnings (loss) per share (USD per share)		$ 0.1984	$ 0.4698	$ 0.1720
Diluted earnings (loss) per share (USD per share)		0.1973	0.4667	0.1710
American Depositary Share
Profit for the year attributable to BP shareholders
Basic earnings (loss) per share (USD per share)		1.19	2.82	1.03
Diluted earnings (loss) per share (USD per share)		$ 1.18	$ 2.80	$ 1.03
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.

Group statement of comprehensiv

Group statement of comprehensive income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of comprehensive income [abstract]
Profit for the year	[1],[2]	$ 4,190	$ 9,578	$ 3,468
Items that may be reclassified subsequently to profit or loss
Currency translation differences	[1]	1,538	(3,771)	1,986
Exchange (gains) losses on translation of foreign operations reclassified to gain or loss on sale of businesses and fixed assets	[1]	880	0	(120)
Available-for-sale investments	[1]	0	0	14
Cash flow hedges marked to market	[1]	(100)	(126)	197
Cash flow hedges reclassified to the income statement	[1]	106	120	116
Cash flow hedges reclassified to the balance sheet	[1]	0	0	112
Costs of hedging marked to market	[1]	(4)	(244)	0
Costs of hedging reclassified to the income statement	[1]	57	58	0
Share of items relating to equity-accounted entities, net of tax	[1]	82	417	564
Income tax relating to items that may be reclassified	[1]	(70)	4	(196)
Total items that may be reclassified subsequently to profit or loss	[1]	2,489	(3,542)	2,673
Items that will not be reclassified to profit or loss
Remeasurements of the net pension and other post-retirement benefit liability or asset	[1]	328	2,317	3,646
Cash flow hedges that will subsequently be transferred to the balance sheet	[1]	(3)	(37)	0
Income tax relating to items that will not be reclassified	[1]	(157)	(718)	(1,303)
Total items that will not be reclassified to profit or loss	[1]	168	1,562	2,343
Other comprehensive income	[1],[2]	2,657	(1,980)	5,016
Total comprehensive income	[1],[2]	6,847	7,598	8,484
Attributable to
BP shareholders	[1]	6,674	7,444	8,353
Non-controlling interests	[1]	$ 173	$ 154	$ 131
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.

Group statement of changes in e

Group statement of changes in equity - USD ($) $ in Millions		Total		Share capital and capital reserves	Treasury shares		Foreign currency translation reserve		Fair value reserves		Profit and loss account		BP shareholders’ equity		Non- controlling interests
Equity outstanding, beginning of period at Dec. 31, 2016	[1]	$ 96,843		$ 46,122	$ (18,443)		$ (6,878)		$ (1,153)		$ 75,638		$ 95,286		$ 1,557
Profit for the year	[1]	3,468	[2]								3,389		3,389		79
Other comprehensive income	[1]	5,016	[2]				1,722		410		2,832		4,964		52
Total comprehensive income		8,484	[1],[2]				1,722	[1]	410	[1]	6,221	[1]	8,353	[1]	131
Dividends		(6,294)	[1],[3]	0							(6,153)	[1],[3]	(6,153)	[1],[3]	(141)	[1],[3]
Repurchase of ordinary share capital	[1]	(343)									(343)		(343)
Share-based payments, net of tax		687	[1]	0	1,485	[1]					(798)	[1]	687	[1]
Share of equity-accounted entities’ changes in equity, net of tax	[1]	215									215		215
Transactions involving non-controlling interests, net of tax	[1]	812									446		446		366
Equity outstanding, end of period at Dec. 31, 2017	[1]	100,404		46,122	(16,958)		(5,156)		(743)		75,226		98,491		1,913
Profit for the year	[1]	9,578	[2]								9,383		9,383		195
Other comprehensive income	[1]	(1,980)	[2]				(3,746)		(216)		2,023		(1,939)		(41)
Total comprehensive income	[1]	7,598	[2]				(3,746)		(216)		11,406		7,444		154
Dividends		(6,869)	[1],[3]	0							(6,699)	[1],[3]	(6,699)	[1],[3]	(170)	[1],[3]
Cash flow hedges transferred to the balance sheet, net of tax		26	[1]						26				26	[1]
Repurchase of ordinary share capital		(355)	[1]	0							(355)	[1]	(355)	[1]
Share-based payments, net of tax	[1]	703		230	1,191						(718)		703
Share of equity-accounted entities’ changes in equity, net of tax	[1]	14									14		14
Transactions involving non-controlling interests, net of tax		207	[1]								0		0		207	[1]
Equity outstanding, end of period at Dec. 31, 2018	[1]	101,548	[4]	46,352	(15,767)		(8,902)		(987)		78,748		99,444		2,104
Profit for the year	[1]	4,190	[2]								4,026		4,026		164
Other comprehensive income	[1]	2,657	[2]				2,407		52		189		2,648		9
Total comprehensive income	[1]	6,847	[2]				2,407		52		4,215		6,674		173
Dividends		(7,142)	[1],[3]	0							(6,929)	[1],[3]	(6,929)	[1],[3]	(213)	[1],[3]
Cash flow hedges transferred to the balance sheet, net of tax	[1]	23							23				23
Repurchase of ordinary share capital		(1,511)	[1]	0							(1,511)	[1]	(1,511)	[1]
Share-based payments, net of tax	[1]	719		173	1,355						(809)		719
Share of equity-accounted entities’ changes in equity, net of tax	[1]	5									5		5
Transactions involving non-controlling interests, net of tax	[1]	549									316		316		233
Equity outstanding, end of period at Dec. 31, 2019	[1]	$ 100,708		$ 46,525	$ (14,412)		$ (6,495)		$ (912)		$ 73,706		$ 98,412		$ 2,296
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.
[3]	See Note 10 for further information.
[4]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Group balance sheet

Group balance sheet - USD ($) $ in Millions		Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Non-current assets
Property, plant and equipment		$ 132,642	$ 143,950	$ 135,261	[1]
Goodwill		11,868		12,204	[1]
Intangible assets		15,539		17,284	[1]		$ 18,355
Investments in joint ventures		9,991		8,647	[1]
Investments in associates		20,334		17,673	[1]
Other investments		1,276		1,341	[1]
Fixed assets		191,650		192,410	[1]
Loans		630		637	[1]
Trade and other receivables		2,147	2,159	1,834	[1]
Derivative financial instruments		6,314		5,145	[1]
Prepayments		781	849	1,179	[1]
Deferred tax assets		4,560	3,736	3,706	[1]
Defined benefit pension plan surpluses		7,053		5,955	[1]
Non-current assets		213,135		210,866	[1]
Current assets
Loans		339		326	[1]
Inventories		20,880		17,988	[1]
Trade and other receivables		24,442	24,673	24,478	[1]
Derivative financial instruments		4,153		3,846	[1]
Prepayments		857	872	963	[1]
Current tax receivable		1,282		1,019	[1]
Other investments		169		222	[1]
Cash and cash equivalents		22,472		22,468	[1]	$ 25,575	25,586	$ 23,484
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		74,594		71,310	[1]
Total assets		295,194		282,176	[1]
Current liabilities
Trade and other payables		46,829	46,209	46,265	[1]
Derivative financial instruments		3,261		3,308	[1]
Accruals		5,066	4,578	4,626	[1]
Current lease liabilities		2,067	2,196	44	[1]
Finance debta		10,487	9,329	9,329
Current tax payable		2,039		2,101	[1]
Provisions		2,453	2,547	2,564	[1]
Current liabilities other than liabilities included in disposal groups classified as held for sale		72,202		68,237	[1]
Non-current liabilities
Other payables		12,626	14,013	13,830	[1]
Derivative financial instruments		5,537		5,625	[1]
Accruals		996	548	575	[1]
Non-current lease liabilities		7,655	7,704	623	[1]
Finance debta		57,237	55,803	55,803	[1]
Deferred tax liabilities		9,750	9,767	9,812	[1]
Provisions		18,498	17,657	17,732	[1]
Defined benefit pension plan and other post-retirement benefit plan deficits		8,592		8,391	[1]
Non-current liabilities		120,891		112,391	[1]
Total liabilities		194,486		180,628	[1]
Net assets		100,708	101,218	101,548	[1]
Equity
BP shareholders’ equity		98,412	99,115	99,444	[1]
Non-controlling interests		2,296	2,103	2,104	[1]
Total equity	[2]	$ 100,708	$ 101,218	$ 101,548	[1]	$ 100,224	$ 100,404	$ 96,843
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.
[2]	See Note 32 for further information.

Group cash flow statement

Group cash flow statement - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Operating activities
Profit before taxation	$ 8,154		$ 16,723		$ 7,180
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off	631		1,085		1,603
Depreciation, depletion and amortization	17,780		15,457		15,584
Impairment and (gain) loss on sale of businesses and fixed assets	7,882		404		6
Earnings from joint ventures and associates	(3,257)		(3,753)		(2,507)
Dividends received from joint ventures and associates	1,962		1,535		1,253
Interest receivable	(441)		(468)		(304)
Interest received	416		348		375
Finance costs	3,489		2,528		2,074
Interest paid	(2,870)		(1,928)		(1,572)
Net finance expense relating to pensions and other post-retirement benefits	63		127		220
Share-based payments	730		690		661
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans	(238)		(386)		(394)
Net charge for provisions, less payments	(176)		986		2,106
(Increase) decrease in inventories	(3,406)		672		(848)
(Increase) decrease in other current and non-current assets	(2,335)		(2,858)		(4,848)
Increase (decrease) in other current and non-current liabilities	2,823		(2,577)		2,344
Income taxes paid	(5,437)		(5,712)		(4,002)
Net cash provided by (used in) operating activities	25,770		22,873		18,931
Investing activities
Expenditure on property, plant and equipment, intangible and other assets	(15,418)		(16,707)		(16,562)
Acquisitions, net of cash acquired	(3,562)		(6,986)		(327)
Investment in joint ventures	(137)		(382)		(50)
Investment in associates	(304)		(1,013)		(901)
Total cash capital expenditure	(19,421)		(25,088)		(17,840)
Proceeds from disposals of fixed assets	500		940		2,936
Proceeds from disposals of businesses, net of cash disposed	1,701		1,911		478
Proceeds from loan repayments	246		666		349
Net cash used in investing activities	(16,974)		(21,571)		(14,077)
Financing activitiesa
Repurchase of shares	(1,511)		(355)	[1]	(343)	[1]
Payments of lease liabilities, classified as financing activities	(2,372)		(35)	[1]	(45)	[1]
Proceeds from long-term financing	8,597		9,038	[1]	8,712	[1]
Repayments of long-term financing	(7,118)		(7,175)	[1]	(6,231)	[1]
Net increase (decrease) in short-term debt	180		1,317	[1]	(158)	[1]
Net increase (decrease) in non-controlling interests	566		0	[1]	1,063	[1]
Dividends paid
BP shareholders	(6,946)		(6,699)	[1]	(6,153)	[1]
Non-controlling interests	(213)		(170)	[1]	(141)	[1]
Net cash provided by (used in) financing activities	(8,817)		(4,079)	[1]	(3,296)	[1]
Currency translation differences relating to cash and cash equivalents	25		(330)		544
Increase (decrease) in cash and cash equivalents	4		(3,107)		2,102
Cash and cash equivalents at beginning of year	22,468	[2]	25,586		23,484
Cash and cash equivalents at end of year	$ 22,472		$ 22,468	[2]	$ 25,586
[1]	a The presentation of financing cash flows for the comparative periods have been amended to align with the current period. See Note 1 for further information.
[2]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Significant accounting policies

Significant accounting policies, judgements, estimates and assumptions	12 Months Ended
	Dec. 31, 2019
Corporate Information And Statement Of IFRS Compliance [Abstract]
Significant accounting policies, judgements, estimates and assumptions	Significant accounting policies, judgements, estimates and assumptions Authorization of financial statements and statement of compliance with International Financial Reporting Standards The consolidated financial statements of BP p.l.c and its subsidiaries (collectively referred to as BP or the group) for the year ended 31 December 2019 were approved and signed by the chief executive officer and chairman on 18 March 2020 having been duly authorized to do so by the board of directors. BP p.l.c. is a public limited company incorporated and domiciled in England and Wales. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union (EU) and in accordance with the provisions of the UK Companies Act 2006 as applicable to companies reporting under IFRS. IFRS as adopted by the EU differs in certain respects from IFRS as issued by the IASB. The differences have no impact on the group’s consolidated financial statements for the years presented. The significant accounting policies and accounting judgements, estimates and assumptions of the group are set out below. Basis of preparation The consolidated financial statements have been prepared on a going concern basis and in accordance with IFRS and IFRS Interpretations Committee (IFRIC) interpretations issued and effective for the year ended 31 December 2019 . The accounting policies that follow have been consistently applied to all years presented, except where otherwise indicated. The consolidated financial statements are presented in US dollars and all values are rounded to the nearest million dollars ($ million), except where otherwise indicated. Significant accounting policies: use of judgements, estimates and assumptions Inherent in the application of many of the accounting policies used in preparing the consolidated financial statements is the need for BP management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual outcomes could differ from the estimates and assumptions used. The accounting judgements and estimates that have a significant impact on the results of the group are set out in boxed text below, and should be read in conjunction with the information provided in the Notes on financial statements. The areas requiring the most significant judgement and estimation in the preparation of the consolidated financial statements are: accounting for the investment in Rosneft; exploration and appraisal intangible assets; the recoverability of asset carrying values, including the estimation of reserves; derivative financial instruments; provisions and contingencies; and pensions and other post-retirement benefits. Where an estimate has a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year this is specifically noted within the boxed text. The group does not consider income taxes to represent a significant estimate or judgement for 2019, see Income taxes for more information. Basis of consolidation The group financial statements consolidate the financial statements of BP p.l.c. and its subsidiaries drawn up to 31 December each year. Subsidiaries are consolidated from the date of their acquisition, being the date on which the group obtains control, and continue to be consolidated until the date that control ceases. The financial statements of subsidiaries are prepared for the same reporting year as the parent company, using consistent accounting policies. Intra-group balances and transactions, including unrealized profits arising from intra-group transactions, have been eliminated. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Non-controlling interests represent the equity in subsidiaries that is not attributable, directly or indirectly, to BP shareholders. Interests in other entities Business combinations and goodwill Business combinations are accounted for using the acquisition method. The identifiable assets acquired and liabilities assumed are recognized at their fair values at the acquisition date. Goodwill is initially measured as the excess of the aggregate of the consideration transferred, the amount recognized for any non-controlling interest and the acquisition-date fair values of any previously held interest in the acquiree over the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date. The amount recognized for any non-controlling interest is measured at the present ownership's proportionate share in the recognized amounts of the acquiree’s identifiable net assets. At the acquisition date, any goodwill acquired is allocated to each of the cash-generating units, or groups of cash-generating units, expected to benefit from the combination’s synergies. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill arising on business combinations prior to 1 January 2003 is stated at the previous carrying amount under UK generally accepted accounting practice, less subsequent impairments. See Note 14 for further information. Goodwill may arise upon investments in joint ventures and associates, being the surplus of the cost of investment over the group’s share of the net fair value of the identifiable assets and liabilities. Any such goodwill is recorded within the corresponding investment in joint ventures and associates. Goodwill may also arise upon acquisition of interests in joint operations that meet the definition of a business. The amount of goodwill separately recognized is the excess of the consideration transferred over the group's share of the net fair value of the identifiable assets and liabilities. Interests in joint arrangements The results, assets and liabilities of joint ventures are incorporated in these consolidated financial statements using the equity method of accounting as described below. Certain of the group’s activities, particularly in the Upstream segment, are conducted through joint operations. BP recognizes, on a line-by-line basis in the consolidated financial statements, its share of the assets, liabilities and expenses of these joint operations incurred jointly with the other partners, along with the group’s income from the sale of its share of the output and any liabilities and expenses that the group has incurred in relation to the joint operation. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Interests in associates The results, assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method of accounting as described below. Significant judgement: investment in Rosneft Judgement is required in assessing the level of control or influence over another entity in which the group holds an interest. For BP, the judgement that the group has significant influence over Rosneft Oil Company (Rosneft), a Russian oil and gas company is significant. As a consequence of this judgement, BP uses the equity method of accounting for its investment and BP's share of Rosneft's oil and natural gas reserves is included in the group's estimated net proved reserves of equity-accounted entities. If significant influence was not present, the investment would be accounted for as an investment in an equity instrument measured at fair value as described under 'Financial assets' below and no share of Rosneft's oil and natural gas reserves would be reported. Significant influence is defined in IFRS as the power to participate in the financial and operating policy decisions of the investee but is not control or joint control of those policies. Significant influence is presumed when an entity owns 20% or more of the voting power of the investee. Significant influence is presumed not to be present when an entity owns less than 20% of the voting power of the investee. BP owns 19.75% of the voting shares of Rosneft. The Russian federal government, through its investment company JSC Rosneftegaz, owned 50% plus one share of the voting shares of Rosneft at 31 December 2019. IFRS identifies several indicators that may provide evidence of significant influence, including representation on the board of directors of the investee and participation in policy-making processes. BP’s group chief executive, as at 31 December 2019, Bob Dudley, has been a member of the board of directors of Rosneft since 2013 and remains one of BP's nominated directors following his resignation as BP's group chief executive. He is also chairman of the Rosneft board’s Strategic Planning Committee. A second BP-nominated director, Guillermo Quintero, has been a member of the Rosneft board and its HR and Remuneration Committee since 2015. BP also holds the voting rights at general meetings of shareholders conferred by its 19.75% stake in Rosneft. BP's management consider, therefore, that the group has significant influence over Rosneft, as defined by IFRS. The equity method of accounting Under the equity method, an investment is carried on the balance sheet at cost plus post-acquisition changes in the group’s share of net assets of the entity, less distributions received and less any impairment in value of the investment. Loans advanced to equity-accounted entities that have the characteristics of equity financing are also included in the investment on the group balance sheet. The group income statement reflects the group’s share of the results after tax of the equity-accounted entity, adjusted to account for depreciation, amortization and any impairment of the equity-accounted entity’s assets based on their fair values at the date of acquisition. The group statement of comprehensive income includes the group’s share of the equity-accounted entity’s other comprehensive income. The group’s share of amounts recognized directly in equity by an equity-accounted entity is recognized in the group’s statement of changes in equity. Financial statements of equity-accounted entities are prepared for the same reporting year as the group. Where material differences arise in the accounting policies used by the equity-accounted entity and those used by BP, adjustments are made to those financial statements to bring the accounting policies used into line with those of the group. Unrealized gains on transactions between the group and its equity-accounted entities are eliminated to the extent of the group’s interest in the equity-accounted entity. The group assesses investments in equity-accounted entities for impairment whenever there is objective evidence that the investment is impaired. If any such objective evidence of impairment exists, the carrying amount of the investment is compared with its recoverable amount, being the higher of its fair value less costs of disposal and value in use. If the carrying amount exceeds the recoverable amount, the investment is written down to its recoverable amount. Segmental reporting The group’s operating segments are established on the basis of those components of the group that are evaluated regularly by the group chief executive, BP’s chief operating decision maker, in deciding how to allocate resources and in assessing performance. The accounting policies of the operating segments are the same as the group’s accounting policies described in this note, except that IFRS requires that the measure of profit or loss disclosed for each operating segment is the measure that is provided regularly to the chief operating decision maker. For BP, this measure of profit or loss is replacement cost profit before interest and tax which reflects the replacement cost of inventories sold in the period and is arrived at by excluding inventory holding gains and losses from profit. Replacement cost profit for the group is not a recognized measure under IFRS. For further information see Note 5 . Foreign currency translation In individual subsidiaries, joint ventures and associates, transactions in foreign currencies are initially recorded in the functional currency of those entities at the spot exchange rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the functional currency at the spot exchange rate on the balance sheet date. Any resulting exchange differences are included in the income statement, unless hedge accounting is applied. Non-monetary assets and liabilities, other than those measured at fair value, are not retranslated subsequent to initial recognition. In the consolidated financial statements, the assets and liabilities of non-US dollar functional currency subsidiaries, joint ventures, associates, and related goodwill, are translated into US dollars at the spot exchange rate on the balance sheet date. The results and cash flows of non-US dollar functional currency subsidiaries, joint ventures and associates are translated into US dollars using average rates of exchange. In the consolidated financial statements, exchange adjustments arising when the opening net assets and the profits for the year retained by non-US dollar functional currency subsidiaries, joint ventures and associates are translated into US dollars are recognized in a separate component of equity and reported in other comprehensive income. Exchange gains and losses arising on long-term intra-group foreign currency borrowings used to finance the group’s non-US dollar investments are also reported in other comprehensive income if the borrowings form part of the net investment in the subsidiary, joint venture or associate. On disposal or for certain partial disposals of a non-US dollar functional currency subsidiary, joint venture or associate, the related accumulated exchange gains and losses recognized in equity are reclassified from equity to the income statement. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Non-current assets held for sale Non-current assets and disposal groups classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Significant non-current assets and disposal groups are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification as held for sale, and actions required to complete the plan of sale should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Property, plant and equipment and intangible assets are not depreciated or amortized once classified as held for sale. Intangible assets Intangible assets, other than goodwill, include expenditure on the exploration for and evaluation of oil and natural gas resources, computer software, patents, licences and trademarks and are stated at the amount initially recognized, less accumulated amortization and accumulated impairment losses. Intangible assets are carried initially at cost unless acquired as part of a business combination. Any such asset is measured at fair value at the date of the business combination and is recognized separately from goodwill if the asset is separable or arises from contractual or other legal rights. Intangible assets with a finite life, other than capitalized exploration and appraisal costs as described below, are amortized on a straight-line basis over their expected useful lives. For patents, licences and trademarks, expected useful life is the shorter of the duration of the legal agreement and economic useful life, and can range from three to fifteen years. Computer software costs generally have a useful life of three to five years. The expected useful lives of assets and the amortization method are reviewed on an annual basis and, if necessary, changes in useful lives or the amortization method are accounted for prospectively. Oil and natural gas exploration, appraisal and development expenditure Oil and natural gas exploration, appraisal and development expenditure is accounted for using the principles of the successful efforts method of accounting as described below. Licence and property acquisition costs Exploration licence and leasehold property acquisition costs are capitalized within intangible assets and are reviewed at each reporting date to confirm that there is no indication that the carrying amount exceeds the recoverable amount. This review includes confirming that exploration drilling is still under way or planned or that it has been determined, or work is under way to determine, that the discovery is economically viable based on a range of technical and commercial considerations, and sufficient progress is being made on establishing development plans and timing. If no future activity is planned, the remaining balance of the licence and property acquisition costs is written off. Lower value licences are pooled and amortized on a straight-line basis over the estimated period of exploration. Upon internal approval for development and recognition of proved reserves of oil and natural gas, the relevant expenditure is transferred to property, plant and equipment. Exploration and appraisal expenditure Geological and geophysical exploration costs are recognized as an expense as incurred. Costs directly associated with an exploration well are initially capitalized as an intangible asset until the drilling of the well is complete and the results have been evaluated. These costs include employee remuneration, materials and fuel used, rig costs and payments made to contractors. If potentially commercial quantities of hydrocarbons are not found, the exploration well costs are written off. If hydrocarbons are found and, subject to further appraisal activity, are likely to be capable of commercial development, the costs continue to be carried as an asset. If it is determined that development will not occur then the costs are expensed. Costs directly associated with appraisal activity undertaken to determine the size, characteristics and commercial potential of a reservoir following the initial discovery of hydrocarbons, including the costs of appraisal wells where hydrocarbons were not found, are initially capitalized as an intangible asset. Upon internal approval for development and recognition of proved reserves, the relevant expenditure is transferred to property, plant and equipment. The determination of whether potentially economic oil and natural gas reserves have been discovered by an exploration well is usually made within one year of well completion, but can take longer, depending on the complexity of the geological structure. Exploration wells that discover potentially economic quantities of oil and natural gas and are in areas where major capital expenditure (e.g. an offshore platform or a pipeline) would be required before production could begin, and where the economic viability of that major capital expenditure depends on the successful completion of further exploration or appraisal work in the area, remain capitalized on the balance sheet as long as such work is under way or firmly planned. Development expenditure Expenditure on the construction, installation and completion of infrastructure facilities such as platforms, pipelines and the drilling of development wells, including service and unsuccessful development or delineation wells, is capitalized within property, plant and equipment and is depreciated from the commencement of production as described below in the accounting policy for property, plant and equipment. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Significant judgement: exploration and appraisal intangible assets Judgement is required to determine whether it is appropriate to continue to carry costs associated with exploration wells and exploratory-type stratigraphic test wells on the balance sheet. This includes costs relating to exploration licences or leasehold property acquisitions. It is not unusual to have such costs remaining suspended on the balance sheet for several years while additional appraisal drilling and seismic work on the potential oil and natural gas field is performed or while the optimum development plans and timing are established.The costs are carried based on the current regulatory and political environment or any known changes to that environment. All such carried costs are subject to regular technical, commercial and management review on at least an annual basis to confirm the continued intent to develop, or otherwise extract value from, the discovery. Where this is no longer the case, the costs are immediately expensed. In scenarios where the expected time horizon for establishing the development plan is lengthy or uncertain, greater judgement is required. BP is in the exploration and appraisal phase in certain Canadian oil sands assets that require further advancement of low-carbon extraction technology in order to achieve optimum development. Sufficient technological progress is expected to be achieved and therefore BP continues to carry the capitalized costs on its balance sheet. The judgement disclosed in prior years in relation to expiring leases in the Gulf of Mexico is no longer considered to be significant following recent agreement of lease extensions with the US Bureau of Safety and Environmental Enforcement. The carrying amount of capitalized costs is included in Note 8. Property, plant and equipment Property, plant and equipment owned by the group is stated at cost, less accumulated depreciation and accumulated impairment losses. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into the location and condition necessary for it to be capable of operating in the manner intended by management, the initial estimate of any decommissioning obligation, if any, and, for assets that necessarily take a substantial period of time to get ready for their intended use, directly attributable general or specific finance costs. The purchase price or construction cost is the aggregate amount paid and the fair value of any other consideration given to acquire the asset. Expenditure on major maintenance refits or repairs comprises the cost of replacement assets or parts of assets, inspection costs and overhaul costs. Where an asset or part of an asset that was separately depreciated is replaced and it is probable that future economic benefits associated with the item will flow to the group, the expenditure is capitalized and the carrying amount of the replaced asset is derecognized. Inspection costs associated with major maintenance programmes are capitalized and amortized over the period to the next inspection. Overhaul costs for major maintenance programmes, and all other maintenance costs are expensed as incurred. Oil and natural gas properties, including certain related pipelines, are depreciated using a unit-of-production method. The cost of producing wells is amortized over proved developed reserves. Licence acquisition, common facilities and future decommissioning costs are amortized over total proved reserves. The unit-of-production rate for the depreciation of common facilities takes into account expenditures incurred to date, together with estimated future capital expenditure expected to be incurred relating to as yet undeveloped reserves expected to be processed through these common facilities. Information on the carrying amounts of the group’s oil and natural gas properties, together with the amounts recognized in the income statement as depreciation, depletion and amortization is contained in Note 12 and Note 5 respectively. Estimates of oil and natural gas reserves determined by applying US Securities and Exchange Commission regulations including the determination of prices using 12-month historical data are used to calculate depreciation, depletion and amortization charges for the group’s oil and gas properties. Therefore, the charges are not dependent on management forecasts of future oil and gas prices. The impact of changes in estimated proved reserves is dealt with prospectively by amortizing the remaining carrying value of the asset over the expected future production. Management does not believe that a reasonably possible change in the economic environment would result in a material change to the depreciation and amortization charge for other classes of assets. The estimation of oil and natural gas reserves and BP’s process to manage reserves bookings is described in Supplementary information on oil and natural gas on page 232 , which is unaudited. Details on BP’s proved reserves and production compliance and governance processes are provided on page 286. The 2019 movements in proved reserves are reflected in the tables showing movements in oil and natural gas reserves by region in Supplementary information on oil and natural gas (unaudited) on page 232 . Other property, plant and equipment is depreciated on a straight-line basis over its expected useful life. The typical useful lives of the group’s other property, plant and equipment are as follows: Land improvements 15 to 25 years Buildings 20 to 50 years Refineries 20 to 30 years Petrochemicals plants 20 to 30 years Pipelines 10 to 50 years Service stations 15 years Office equipment 3 to 7 years Fixtures and fittings 5 to 15 years The expected useful lives and depreciation method of property, plant and equipment are reviewed on an annual basis and, if necessary, changes in useful lives or the depreciation method are accounted for prospectively. An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in the income statement in the period in which the item is derecognized. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Impairment of property, plant and equipment, intangible assets, and goodwill The group assesses assets or groups of assets, called cash-generating units (CGUs), for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or CGU may not be recoverable; for example, changes in the group’s business plans, changes in the group’s assumptions about commodity prices, low plant utilization, evidence of physical damage or, for oil and gas assets, significant downward revisions of estimated reserves or increases in estimated future development expenditure or decommissioning costs. If any such indication of impairment exists, the group makes an estimate of the asset’s or CGU’s recoverable amount. Individual assets are grouped into CGUs for impairment assessment purposes at the lowest level at which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. A CGU’s recoverable amount is the higher of its fair value less costs of disposal and its value in use. If it is probable that the value of the CGU will be primarily recovered through a disposal transaction, the expected disposal proceeds are considered in determining the recoverable amount. Where the carrying amount of a CGU exceeds its recoverable amount, the CGU is considered impaired and is written down to its recoverable amount. The business segment plans, which are approved on an annual basis by senior management, are the primary source of information for the determination of value in use. They contain forecasts for oil and natural gas production, refinery throughputs, sales volumes for various types of refined products (e.g. gasoline and lubricants), revenues, costs and capital expenditure. As an initial step in the preparation of these plans, various assumptions regarding market conditions, such as oil prices, natural gas prices, refining margins, refined product margins and cost inflation rates are set by senior management. These assumptions take account of existing prices, global supply-demand equilibrium for oil and natural gas, other macroeconomic factors and historical trends and variability. In assessing value in use, the estimated future cash flows are adjusted for the risks specific to the asset group that are not reflected in the discount rate and are discounted to their present value typically using a pre-tax discount rate that reflects current market assessments of the time value of money. Fair value less costs of disposal is the price that would be received to sell the asset in an orderly transaction between market participants and does not reflect the effects of factors that may be specific to the group and not applicable to entities in general. In limited circumstances where recent market transactions are not available for reference, discounted cash flow techniques are applied. Where discounted cash flow analyses are used to calculate fair value less costs of disposal, estimates are made about the assumptions market participants would use when pricing the asset, CGU or group of CGUs containing goodwill and the test is performed on a post-tax basis. An assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to the lower of its recoverable amount and the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Impairment reversals are recognized in profit or loss. After a reversal, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life. Goodwill is reviewed for impairment annually or more frequently if events or changes in circumstances indicate the recoverable amount of the group of CGUs to which the goodwill relates should be assessed. In assessing whether goodwill has been impaired, the carrying amount of the group of CGUs to which goodwill has been allocated is compared with its recoverable amount. Where the recoverable amount of the group of CGUs is less than the carrying amount (including goodwill), an impairment loss is recognized. An impairment loss recognized for goodwill is not reversed in a subsequent period. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Significant judgements and estimates: recoverability of asset carrying values Determination as to whether, and by how much, an asset, CGU, or group of CGUs containing goodwill is impaired involves management estimates on highly uncertain matters such as the effects of inflation and deflation on operating expenses, discount rates, production profiles, reserves and resources, and future commodity prices, including the outlook for global or regional market supply-and-demand conditions for crude oil, natural gas and refined products. Judgement is required when determining the appropriate grouping of assets into a CGU or the appropriate grouping of CGUs for impairment testing purposes. For example, individual oil and gas properties may form separate CGUs whilst certain oil and gas properties with shared infrastructure may be grouped together to form a single CGU. Alternative groupings of assets or CGUs may result in a different outcome from impairment testing. See Note 14 for details on how these groupings have been determined in relation to the impairment testing of goodwill. As disclosed above, the recoverable amount of a

Non-current assets held for sal

Non-current assets held for sale (Notes)	12 Months Ended
	Dec. 31, 2019
Disclosure of non-current assets held for sale and discontinued operations [Abstract]
Disclosure of non-current assets held for sale and discontinued operations [text block]	Non-current assets held for sale The carrying amount of assets classified as held for sale at 31 December 2019 is $7,465 million , with associated liabilities of $1,393 million . These principally relate to two material disposal transactions which have been classified as held for sale in the group balance sheet. On 27 August 2019, BP announced that it had agreed to sell all its Alaska operations and interests to Hilcorp Energy for up to $5.6 billion , subject to customary closing adjustments, of which $1.6 billion is contingent on future cash flows. The sale will include BP’s entire upstream and midstream business in the state, including BP Exploration (Alaska) Inc., which owns all of BP’s upstream oil and gas interests in Alaska, and BP Pipelines (Alaska) Inc.’s 49% interest in the Trans Alaska Pipeline System (TAPS). BP will retain decommissioning liability relating to TAPS, which will be partially offset by a 30% cost reimbursement from Hilcorp. The deal, which is subject to governmental authorizations, is expected to complete during 2020. Assets of $6,518 million and associated liabilities of $969 million relating to this transaction are classified as held for sale at 31 December 2019. In November 2019, BP agreed to sell its interests in the San Juan basin in Colorado and New Mexico to IKAV. The deal is expected to complete during the first half of 2020. Assets and associated liabilities relating to this transaction are classified as held for sale at 31 December 2019. The total assets and liabilities held for sale, which are all in the Upstream segment, are set out in the table below. $ million 2019 Property, plant and equipment 6,359 Intangible assets 610 Investments in associates 43 Inventories 318 Trade and other receivables 135 Assets classified as held for sale 7,465 Trade and other payables (33 ) Lease liabilities (280 ) Provisions (1,012 ) Defined benefit pension plan and other post-retirement benefit plan deficits (68 ) Liabilities directly associated with assets classified as held for sale (1,393 )

Business combinations and other

Business combinations and other significant transactions	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Business combinations and other significant transactions	Business combinations and other significant transactions Business combinations As agreed as part of the original transaction, $3,480 million was paid in 2019 in respect of the 2018 acquisition of Petrohawk Energy Corporation from BHP Billiton that is described below. Payments on this transaction are now complete. A number of other individually insignificant business combinations were also undertaken by BP in 2019. BP undertook a number of business combinations in 2018. For the full year, total consideration paid in cash amounted to $7,100 million , offset by cash acquired of $114 million . On 31 October 2018, BP acquired from BHP Billiton Petroleum (North America) Inc. 100% of the issued share capital of Petrohawk Energy Corporation, a wholly-owned subsidiary of BHP that holds a portfolio of unconventional onshore US oil and gas assets. The acquisition brings BP extensive oil and gas production and resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana. The total consideration for the transaction, after customary closing adjustments and the effect of discounting deferred payments, was $10,302 million , which was all paid in cash. The transaction was accounted for as a business combination using the acquisition method. The fair values of the identifiable assets and liabilities acquired, as at the date of acquisition, are shown in the table below. No goodwill was recognized on the acquisition and no significant adjustments were made to the provisional fair values of the identifiable assets and liabilities acquired when those values were finalized. $ million 2018 Assets Property, plant and equipment 10,845 Intangible assets 21 Inventories 27 Trade and other receivables 493 Cash 104 Liabilities Trade and other payables (659 ) Provisions (323 ) Non-controlling interest (206 ) Total consideration 10,302 An analysis of the cash flows relating to the acquisition included within the cash flow statement for 2018 is provided below. $ million 2018 Transaction costs of the acquisition (included in cash flows from operating activities) 62 Interest on deferred payments (included in cash flows from operating activities) 21 Cash consideration paid, net of cash acquired (included in cash flows from investing activities) 6,684 Total net cash outflow for the acquisition 6,767 From the date of acquisition to 31 December 2018, the acquired activities generated revenues of $472 million and profit before tax of $49 million . If the business combination had taken place on 1 January 2018, it is estimated that the acquired activities would have generated revenues of $2,798 million and profit before tax of $431 million . In addition to the BHP transaction described above, BP undertook a number of other individually insignificant business combinations in 2018. Other significant transactions On 18 December 2018, BP purchased an additional 16.5% interest in the Clair field in the North Sea, as part of the agreements with ConocoPhillips in which ConocoPhillips simultaneously purchased BP's entire 39.2% interest in the Greater Kuparuk Area on the North Slope of Alaska. The purchase gives BP a 45.1% interest in Clair in total. Gross payments made and received of $1,739 million and $1,490 million are included in Capital expenditure and Proceeds from disposals of businesses, net of cash acquired, respectively, in the group cash flow statement for 2018. Goodwill of $804 million , resulting from the recognition of a deferred tax liability as part of the transaction accounting, was recognized on the purchase of the interest in the Clair field.

Disposals and impairment

Disposals and impairment	12 Months Ended
	Dec. 31, 2019
Impairment Of Assets [Abstract]
Disposals and impairment	Disposals and impairment The following amounts were recognized in the income statement in respect of disposals and impairments. $ million 2019 2018 2017 Gains on sale of businesses and fixed assets Upstream 143 437 526 Downstream 50 15 674 Other businesses and corporate — 4 10 193 456 1,210 $ million 2019 2018 2017 Losses on sale of businesses and fixed assets Upstream 415 707 127 Downstream 57 59 88 Other businesses and corporate 887 11 — 1,359 777 215 Impairment losses Upstream 6,752 400 1,138 Downstream 65 12 69 Other businesses and corporate 30 254 32 6,847 666 1,239 Impairment reversals Upstream (131 ) (580 ) (176 ) Downstream — (2 ) (62 ) Other businesses and corporate — (1 ) — (131 ) (583 ) (238 ) Impairment and losses on sale of businesses and fixed assets 8,075 860 1,216 Disposals Disposal proceeds and principal gains and losses on disposals by segment are described below. $ million 2019 2018 2017 Proceeds from disposals of fixed assets 500 940 2,936 Proceeds from disposals of businesses, net of cash disposed 1,701 1,911 478 2,201 2,851 3,414 By business Upstream 2,048 2,145 1,183 Downstream 152 120 2,078 Other businesses and corporate 1 586 153 2,201 2,851 3,414 At 31 December 2019 , deferred consideration relating to disposals amounted to $159 million receivable within one year ( 2018 $35 million and 2017 $259 million ) and $125 million receivable after one year ( 2018 $304 million and 2017 $268 million ). In addition, contingent consideration receivable relating to disposals amounted to $598 million at 31 December 2019 ( 2018 $893 million and 2017 $237 million ). These amounts of contingent consideration are reported within Other investments on the group balance sheet - see Note 18 for further information. Upstream In 2019, losses included $191 million fair value movements in relation to contingent consideration arising from the prior period disposal of the Bruce, Keith and Devenick assets and $171 million in relation to severance costs associated with the divestment of our Alaskan business. In 2018, gains principally resulted from the disposal of interests in the Bruce, Keith and Rhum fields in the UK North Sea, from the disposal of certain properties in the US, and from adjustments to disposals in prior periods. Losses included $335 million resulting from the disposal of our interest in the Magnus field and associated assets in the UK North Sea, $221 million from the disposal of our interest in the Greater Kuparuk Area in the US (see Note 3 for further information), and adjustments to disposals in prior periods . In 2017, gains principally resulted from the disposal of a portion of our interest in the Perdido offshore hub in the US, and further gains associated with disposals in the UK. Downstream In 2017, gains principally resulted from the disposal of our interest in the SECCO joint venture and the disposal of certain midstream assets in Europe. 4 . Disposals and impairment – continued Other businesses and corporate In 2019 losses on disposal of businesses and fixed assets were principally in respect of the reclassification of accumulated foreign exchange losses from reserves to the income statement upon the contribution of our Brazilian biofuels business to a new 50:50 joint venture BP Bunge Bioenergia. In 2018 proceeds from disposals were principally in respect of life insurance policies in the US and wind farms within our US wind business. Summarized financial information relating to the sale of businesses is shown in the table below. The principal transaction categorized as a business disposal in 2019 was the sale of our interests in the Gulf of Suez oil concessions in Egypt. The principal transaction categorized as a business disposal in 2018 was the disposal of our interest in the Greater Kuparuk Area in the US - see Note 3 for further information. The principal transaction categorized as a business disposal in 2017 was the disposal of our interest in the Forties Pipeline System in the North Sea. $ million 2019 2018 2017 Non-current assets 1,653 3,274 735 Current assets 507 173 57 Non-current liabilities (257 ) (250 ) (173 ) Current liabilities (108 ) (97 ) (86 ) Total carrying amount of net assets disposed 1,795 3,100 533 Recycling of foreign exchange on disposal 880 — — Costs on disposal 190 3 3 2,865 3,103 536 Gains (losses) on sale of businesses (1,190 ) (221 ) 44 Total consideration 1,675 2,882 580 Non-cash consideration (938 ) (282 ) (216 ) Consideration received (receivable) a 964 (689 ) 114 Proceeds from the sale of businesses, net of cash disposed b 1,701 1,911 478 a $633 million relates to deposits received in advance of the disposal of our Alaska business and certain assets in our BPX business b Proceeds are stated net of cash and cash equivalents disposed of $30 million ( 2018 $15 million and 2017 $25 million ). Impairments Impairment losses and impairment reversals in each segment are described below. For information on significant estimates and judgements made in relation to impairments see Impairment of property, plant and equipment, intangibles and goodwill within Note 1 . See also Note 12 , and Note 15 for further information on impairments by asset category. Upstream Impairment losses and reversals in all years relate primarily to producing and midstream assets. The 2019 impairment losses of $6,752 million related to various assets, with the most significant charges arising in the US. Impairment losses arose primarily as a result of the decision to dispose of certain assets, including $4,703 million in relation to completed and expected disposals in BPX Energy and $1,264 million relating to the expected disposal of our Alaskan business; of these amounts $355 million primarily relates to impairment of associated goodwill. The 2018 impairment losses of $400 million related to a number of different assets, with the most significant charges arising in Australia and the US. Impairment losses arose primarily as a result of changes to project activity, asset obsolescence and the decision to dispose of certain assets. The 2018 impairment reversals of $580 million related to a number of different assets, with the most significant reversals arising in the North Sea and Angola following a change to decommissioning cost estimates. The 2017 impairment losses of $1,138 million related to a number of different assets, with the most significant charges arising in BPX Energy (previously known as the US Lower 48 business) and the North Sea. Impairment losses within Upstream arose primarily as a result of changes in reserves estimates and the decision to dispose of certain assets, including the Forties Pipeline System business. The 2017 impairment reversals of $176 million related to a number of different assets, with the most significant reversals arising in the North Sea. Downstream Impairment losses totalling $65 million , $12 million , and $69 million were recognized in 2019 , 2018 and 2017 respectively. Other businesses and corporate Impairment losses totalling $30 million , $254 million , and $32 million were recognized in 2019 , 2018 and 2017 respectively. The amount for 2018 is in respect of assets within our US wind business in advance of their disposal in December 2018.

Segmental analysis

Segmental analysis	12 Months Ended
	Dec. 31, 2019
Operating Segments [Abstract]
Segmental analysis	Segmental analysis The group’s organizational structure reflects the various activities in which BP is engaged. At 31 December 2019 , BP had three reportable segments: Upstream, Downstream and Rosneft. Upstream’s activities include oil and natural gas exploration, field development and production; midstream transportation, storage and processing; and the marketing and trading of natural gas, including liquefied natural gas (LNG), together with power and natural gas liquids (NGLs). Downstream’s activities include the refining, manufacturing, marketing, transportation, and supply and trading of crude oil, petroleum, petrochemicals products and related services to wholesale and retail customers. BP’s interest in Rosneft is accounted for using the equity method and is reported as a separate operating segment, reflecting the way in which the investment is managed. Other businesses and corporate comprises the biofuels and wind businesses, the group’s shipping and treasury functions, and corporate activities worldwide. The accounting policies of the operating segments are the same as the group’s accounting policies described in Note 1 . However, IFRS requires that the measure of profit or loss disclosed for each operating segment is the measure that is provided regularly to the chief operating decision maker for the purposes of performance assessment and resource allocation. For BP, this measure of profit or loss is replacement cost profit or loss before interest and tax which reflects the replacement cost of supplies by excluding from profit or loss inventory holding gains and losses a . Replacement cost profit or loss for the group is not a recognized measure under IFRS. Sales between segments are made at prices that approximate market prices, taking into account the volumes involved. Segment revenues and segment results include transactions between business segments. These transactions and any unrealized profits and losses are eliminated on consolidation, unless unrealized losses provide evidence of an impairment of the asset transferred. Sales to external customers by region are based on the location of the group subsidiary which made the sale. The UK region includes the UK-based international activities of Downstream. All surpluses and deficits recognized on the group balance sheet in respect of pension and other post-retirement benefit plans are allocated to Other businesses and corporate. However, the periodic expense relating to these plans is allocated to the operating segments based upon the business in which the employees work. Certain financial information is provided separately for the US as this is an individually material country for BP, and for the UK as this is BP’s country of domicile. In February 2020, BP announced plans for a future reorganization of the group’s operating segments. The group’s current segmental reporting structure is expected to remain in place throughout 2020 with any changes coming into effect from 1 January 2021. a Inventory holding gains and losses represent the difference between the cost of sales calculated using the replacement cost of inventory and the cost of sales calculated on the first-in first-out (FIFO) method after adjusting for any changes in provisions where the net realizable value of the inventory is lower than its cost. Under the FIFO method, which we use for IFRS reporting, the cost of inventory charged to the income statement is based on its historical cost of purchase or manufacture, rather than its replacement cost. In volatile energy markets, this can have a significant distorting effect on reported income. The amounts disclosed represent the difference between the charge to the income statement for inventory on a FIFO basis (after adjusting for any related movements in net realizable value provisions) and the charge that would have arisen based on the replacement cost of inventory. For this purpose, the replacement cost of inventory is calculated using data from each operation’s production and manufacturing system, either on a monthly basis, or separately for each transaction where the system allows this approach. The amounts disclosed are not separately reflected in the financial statements as a gain or loss. No adjustment is made in respect of the cost of inventories held as part of a trading position and certain other temporary inventory positions. 5 . Segmental analysis – continued $ million 2019 By business Upstream Downstream Rosneft Other businesses and corporate Consolidation adjustment and eliminations Total group Segment revenues Sales and other operating revenues 54,501 250,897 — 1,788 (28,789 ) 278,397 Less: sales and other operating revenues between segments (27,034 ) (973 ) — (782 ) 28,789 — Third party sales and other operating revenues 27,467 249,924 — 1,006 — 278,397 Earnings from joint ventures and associates – after interest and tax 603 374 2,295 (15 ) — 3,257 Segment results Replacement cost profit (loss) before interest and taxation 4,917 6,502 2,316 (2,771 ) 75 11,039 Inventory holding gains (losses) a (8 ) 685 (10 ) — — 667 Profit (loss) before interest and taxation 4,909 7,187 2,306 (2,771 ) 75 11,706 Finance costs (3,489 ) Net finance expense relating to pensions and other post-retirement benefits (63 ) Profit before taxation 8,154 Other income statement items Depreciation, depletion and amortization US 4,672 1,335 — 55 — 6,062 Non-US 9,560 1,586 — 572 — 11,718 Charges for provisions, net of write-back of unused provisions, including change in discount rate 118 507 — 560 — 1,185 Segment assets Investments in joint ventures and associates 12,196 3,609 12,927 1,593 — 30,325 Additions to non-current assets b 16,254 4,014 — 2,345 — 22,613 a See explanation of inventory holding gains and losses on page 177 . b Includes additions to property, plant and equipment; goodwill; intangible assets; investments in joint ventures; and investments in associates. $ million 2018 By business Upstream Downstream Rosneft Other businesses and corporate Consolidation adjustment and eliminations Total group Segment revenues Sales and other operating revenues 56,399 270,689 — 1,678 (30,010 ) 298,756 Less: sales and other operating revenues between segments (28,565 ) (574 ) — (871 ) 30,010 — Third party sales and other operating revenues 27,834 270,115 — 807 — 298,756 Earnings from joint ventures and associates – after interest and tax 951 589 2,283 (70 ) — 3,753 Segment results Replacement cost profit (loss) before interest and taxation 14,328 6,940 2,221 (3,521 ) 211 20,179 Inventory holding gains (losses) a (6 ) (862 ) 67 — — (801 ) Profit (loss) before interest and taxation 14,322 6,078 2,288 (3,521 ) 211 19,378 Finance costs (2,528 ) Net finance expense relating to pensions and other post-retirement benefits (127 ) Profit before taxation 16,723 Other income statement items Depreciation, depletion and amortization US 4,211 900 — 59 — 5,170 Non-US 8,907 1,177 — 203 — 10,287 Charges for provisions, net of write-back of unused provisions, including change in discount rate 355 834 — 1,557 — 2,746 Segment assets Investments in joint ventures and associates 12,785 2,772 10,074 689 — 26,320 Additions to non-current assets b c 24,266 3,609 — 477 — 28,352 a See explanation of inventory holding gains and losses on page 177 . b Includes additions to property, plant and equipment; goodwill; intangible assets; investments in joint ventures; and investments in associates. c Amounts have been restated to include acquisitions 5 . Segmental analysis – continued $ million 2017 By business Upstream Downstream Rosneft Other businesses and corporate Consolidation adjustment and eliminations Total group Segment revenues Sales and other operating revenues 45,440 219,853 — 1,469 (26,554 ) 240,208 Less: sales and other operating revenues between segments (24,179 ) (1,800 ) — (575 ) 26,554 — Third party sales and other operating revenues 21,261 218,053 — 894 — 240,208 Earnings from joint ventures and associates – after interest and tax 930 674 922 (19 ) — 2,507 Segment results Replacement cost profit (loss) before interest and taxation 5,221 7,221 836 (4,445 ) (212 ) 8,621 Inventory holding gains (losses) a 8 758 87 — — 853 Profit (loss) before interest and taxation 5,229 7,979 923 (4,445 ) (212 ) 9,474 Finance costs (2,074 ) Net finance expense relating to pensions and other post-retirement benefits (220 ) Profit before taxation 7,180 Other income statement items Depreciation, depletion and amortization US 4,631 875 — 65 — 5,571 Non-US 8,637 1,141 — 235 — 10,013 Charges for provisions, net of write-back of unused provisions, including change in discount rate 220 304 — 2,902 — 3,426 a See explanation of inventory holding gains and losses on page 177 . $ million 2019 By geographical area US Non-US Total Revenues Third party sales and other operating revenues a 89,334 189,063 278,397 Other income statement items Production and similar taxes 315 1,232 1,547 Non-current assets Non-current assets b c 57,757 133,398 191,155 a Non-US region includes UK $63,194 million b Non-US region includes UK $22,881 million c Includes property, plant and equipment; goodwill; intangible assets; investments in joint ventures; investments in associates; and non-current prepayments. $ million 2018 By geographical area US Non-US Total Revenues Third party sales and other operating revenues a 98,066 200,690 298,756 Other income statement items Production and similar taxes 369 1,167 1,536 Non-current assets Non-current assets b c 68,188 124,060 192,248 a Non-US region includes UK $65,630 million . b Non-US region includes UK $19,426 million . c Includes property, plant and equipment; goodwill; intangible assets; investments in joint ventures; investments in associates; and non-current prepayments. 5 . Segmental analysis – continued $ million 2017 By geographical area US Non-US Total Revenues Third party sales and other operating revenues a 83,269 156,939 240,208 Other income statement items Production and similar taxes 52 1,723 1,775 a Non-US region includes UK $48,837 million .

Revenue from contracts with cus

Revenue from contracts with customers	12 Months Ended
	Dec. 31, 2019
Revenue From Contracts With Customers [Abstract]
Revenue from contracts with customers	Revenue from contracts with customers The amounts shown in the table below are included in Sales and other operating revenues in the group income statement. An analysis of total sales and other operating revenues by segment and region is provided in Note 5 . Revenue from contracts with customers, by product $ million 2019 2018 2017 Crude oil 62,130 65,276 49,670 Oil products 180,528 195,466 159,821 Natural gas, LNG and NGLs 20,167 21,745 16,196 Non-oil products and other revenues from contracts with customers 13,254 13,768 12,538 Revenues from contracts with customers 276,079 296,255 238,225 The group’s sales to customers of crude oil and oil products were substantially all made by the Downstream segment. The group’s sales to customers of natural gas, LNG and NGLs were made by the Upstream segment. A significant majority of the group’s sales of non-oil products and other revenues from contracts with customers were made by the Downstream segment. See Note 1 - impact of new International Financial Reporting Standards - Not yet adopted - IFRIC agenda decision on IFRS 9 'Financial instruments' for further information on changes to the presentation of revenue from contracts with customers that will apply from 1 January 2020.

Income statement analysis

Income statement analysis	12 Months Ended
	Dec. 31, 2019
Analysis of income and expense [abstract]
Income statement analysis	Income statement analysis $ million 2019 2018 2017 Interest and other income Interest income from Financial assets measured at amortized cost 371 421 288 Financial assets measured at fair value through profit or loss 49 39 — Other income 349 313 369 769 773 657 Currency exchange losses charged to the income statement a 37 368 83 Expenditure on research and development 364 429 391 Costs relating to the Gulf of Mexico oil spill (pre-interest and tax) b 319 714 2,687 Finance costs Interest payable on lease liabilities c 379 51 56 Interest payable on other liabilities measured at amortized cost 2,410 2,147 1,662 Capitalized at 3.50% (2018 3.56% and 2017 2.25%) d (374 ) (419 ) (297 ) Unwinding of discount on provisions e 505 210 150 Unwinding of discount on other payables measured at amortized cost 569 539 503 3,489 2,528 2,074 a Excludes exchange gains and losses arising on financial instruments measured at fair value through profit or loss. b Included within production and manufacturing expenses. c Interest payable on lease liabilities in comparative periods relate to leases previously classified as finance leases under IAS 17. d Tax relief on capitalized interest is approximately $51 million ( 2018 $55 million and 2017 $64 million ). e From 1 July 2018, the group changed its method of discounting and unwinding provisions from using real rates to using nominal rates.

Exploration for and evaluation

Exploration for and evaluation of oil and natural gas resources	12 Months Ended
	Dec. 31, 2019
Exploration For And Evaluation Of Mineral Resources [Abstract]
Exploration for and evaluation of oil and natural gas resources	Exploration for and evaluation of oil and natural gas resources The following financial information represents the amounts included within the group totals relating to activity associated with the exploration for and evaluation of oil and natural gas resources. All such activity is recorded within the Upstream segment. For information on significant judgements made in relation to oil and natural gas accounting see Intangible assets in Note 1 . $ million 2019 2018 2017 Exploration and evaluation costs Exploration expenditure written off a 631 1,085 1,603 Other exploration costs 333 360 477 Exploration expense for the year 964 1,445 2,080 Impairment losses 2 137 — Intangible assets – exploration and appraisal expenditure b 14,091 15,989 17,026 Liabilities 73 60 82 Net assets 14,018 15,929 16,944 Cash used in operating activities 333 360 477 Cash used in investing activities 1,215 1,119 1,901 a 2018 includes $447 million in the deepwater Gulf of Mexico principally relating to licence expiries. 2017 included write-offs in Angola of $574 million in relation to licence relinquishment and Egypt of $208 million following a determination that no commercial hydrocarbons had been found. 2017 also included a $145-million write-off in relation to the value ascribed to certain licences in the deepwater Gulf of Mexico as part of the accounting for the acquisition of upstream assets from Devon Energy in 2011. For further information see Upstream – Exploration on page 53 . b 2019 includes approximately $2.5 billion relating to Canadian oil sands. See Note 1 for further information. The carrying amount, by location, of exploration and appraisal expenditure capitalized as intangible assets at 31 December 2019 is shown in the table below. Carrying amount Location $1 - 2 billion Angola; Egypt; Middle East $2 - 3 billion US - Gulf of Mexico; Canada; Brazil

Taxation

Taxation	12 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Taxation	Taxation Tax on profit $ million 2019 2018 2017 Current tax Charge for the year 5,316 6,217 4,208 Adjustment in respect of prior years a (68 ) (221 ) 58 5,248 5,996 4,266 Deferred tax b Origination and reversal of temporary differences in the current year (1,190 ) 907 (503 ) Adjustment in respect of prior years (94 ) 242 (51 ) (1,284 ) 1,149 (554 ) Tax charge on profit 3,964 7,145 3,712 a The adjustments in respect of prior years reflect the reassessment of the current tax balances for prior years in light of changes in facts and circumstances during the year. b Origination and reversal of temporary differences in the current year include the impact of tax rate changes on deferred tax balances. 2018 includes a credit of $121 million (2017 $859 million charge) in respect of the reduction in the US federal corporate income tax rate from 35% to 21%, effective from 1 January 2018. The adjustments in respect of prior years reflect the reassessment of deferred tax balances for prior periods in light of all other changes in facts and circumstances during the year. In 2019 , the total tax charge recognized within other comprehensive income was $227 million ( 2018 $714 million charge and 2017 $1,499 million charge ), primarily comprising the deferred tax impact of the remeasurements of the net pension and other post-retirement benefit liability or asset. See Note 32 for further information. The total tax charge recognized directly in equity was $37 million ( 2018 $17 million charge and 2017 $263 million charge ). Reconciliation of the effective tax rate The following table provides a reconciliation of the group weighted average statutory corporate income tax rate to the effective tax rate of the group on profit before taxation. 9 . Taxation – continued $ million 2019 2018 2017 Profit before taxation 8,154 16,723 7,180 Tax charge on profit 3,964 7,145 3,712 Effective tax rate 49% 43% 52% Tax rate computed at the weighted average statutory rate a 52 43 44 Increase (decrease) resulting from Tax reported in equity-accounted entities (7 ) (5 ) (7 ) Deferred tax not recognized b (2 ) 1 6 Tax incentives for investment (3 ) (2 ) (6 ) Foreign exchange 1 3 (4 ) Items not deductible for tax purposes 4 1 5 Impact of US tax reform c — (1 ) 12 Other b 4 3 2 Effective tax rate 49 43 52 a Calculated based on the statutory corporate income tax rate applicable in the countries in which the group operates, weighted by the profits and losses before tax in the respective countries. b A minor amendment has been made to 2017 and 2018 to align with current period presentation. c Relates to the deferred tax impact of the reduction in the US federal corporate income tax rate from 35% to 21%, effective from 1 January 2018. Deferred tax $ million Analysis of movements during the year in the net deferred tax liability 2019 2018 At 31 December 6,106 3,513 Adjustment on adoption of IFRS 9 a — (36 ) Adjustment on adoption of IFRS 16 b (75 ) — At 1 January 6,031 3,477 Exchange adjustments 72 (68 ) Charge (credit) for the year in the income statement (1,284 ) 1,149 Charge for the year in other comprehensive income 233 734 Charge for the year in equity 37 17 Acquisitions, disposals and other additions c 101 797 At 31 December 5,190 6,106 a 2018 reflects the deferred tax impact of adjustments recorded by the group on adoption of IFRS 9. See BP Annual Report and Form 20-F 2018 - Financial statements - Note 1 for further information. b 2019 reflects the deferred tax impact of adjustments recorded by the group on adoption of IFRS 16. See Note 1 for further information. c 2018 relates primarily to the purchase of an additional 16.5% interest in the Clair field. See Note 3 - Other significant transactions for further information. 9 . Taxation – continued The following table provides an analysis of deferred tax in the income statement and the balance sheet by category of temporary difference: $ million Income statement ab Balance sheet ab 2019 2018 2017 2019 2018 Deferred tax liability Depreciation (1,436 ) (1,297 ) (3,971 ) 22,627 22,565 Pension plan surpluses (31 ) 65 (12 ) 2,290 1,956 Derivative financial instruments 29 (36 ) (27 ) 29 — Other taxable temporary differences 159 (57 ) (64 ) 1,496 1,224 (1,279 ) (1,325 ) (4,074 ) 26,442 25,745 Deferred tax asset Lease liabilities 264 8 (16 ) (1,380 ) (90 ) Pension plan and other post-retirement benefit plan deficits 62 (6 ) 340 (1,367 ) (1,319 ) Decommissioning, environmental and other provisions (472 ) 1,505 3,503 (7,579 ) (7,126 ) Derivative financial instruments 63 (31 ) (47 ) (24 ) (95 ) Tax credits (336 ) 123 1,476 (3,964 ) (3,626 ) Loss carry forward 12 559 (964 ) (5,834 ) (5,900 ) Other deductible temporary differences 402 316 (772 ) (1,104 ) (1,483 ) (5 ) 2,474 3,520 (21,252 ) (19,639 ) Net deferred tax charge (credit) and net deferred tax liability c (1,284 ) 1,149 (554 ) 5,190 6,106 Of which – deferred tax liabilities 9,750 9,812 – deferred tax assets 4,560 3,706 a The 2017 and 2018 income statement and 2018 balance sheet are impacted by the reduction in US federal corporate income tax rate from 35% to 21%, effective from 1 January 2018. b The 2019 balance sheet is impacted by the adoption of IFRS 16 and minor amendments have been made to the balance sheet and income statement comparatives to align with current period presentation. c Included within the net deferred tax liability is a deferred tax asset balance of $5,526 million (2018 $5,562 million ) related to the Gulf of Mexico oil spill. Of the $4,560 million of deferred tax assets recognised on the group balance sheet at 31 December 2019 ( 2018 $3,706 million ), $2,421 million ( 2018 $2,758 million ) relates to entities that have suffered a loss in either the current or preceding period. This amount is supported by forecasts that indicate sufficient future taxable profits will be available to utilize such assets. For 2019 , $2,421 million relates to the US ( 2018 $1,563 million relates to the US and $1,108 million relates to India). A summary of temporary differences, unused tax credits and unused tax losses for which deferred tax has not been recognized is shown in the table below. $ billion At 31 December 2019 2018 Unused US state tax losses a 2.3 6.6 Unused tax losses – other jurisdictions b 3.5 4.3 Unused tax credits 25.4 22.5 of which – arising in the UK c 21.5 18.7 – arising in the US d 3.9 3.8 Deductible temporary differences e 40.4 37.3 Taxable temporary differences associated with investments in subsidiaries and equity-accounted entities 1.5 1.5 a For 2019 these losses expire in the period 2020-2039 with applicable tax rates ranging from 3% to 12% . b The majority of the unused tax losses have no fixed expiry date. c The UK unused tax credits arise predominantly in overseas branches of UK entities based in jurisdictions with higher statutory corporate income tax rates than the UK. No deferred tax asset has been recognized on these tax credits as they are unlikely to have value in the future; UK taxes on these overseas branches are largely mitigated by double tax relief in respect of overseas tax. These tax credits have no fixed expiry date. d For 2019 the US unused tax credits expire in the period 2020-2029. e The majority comprises fixed asset temporary differences in the UK. Substantially all of the temporary differences have no expiry date. $ million Impact of previously unrecognized deferred tax or write-down of deferred tax assets on tax charge 2019 2018 2017 Current tax benefit relating to the utilization of previously unrecognized deferred tax assets 272 83 22 Deferred tax benefit arising from the reversal of a previous write-down of deferred tax assets 96 — — Deferred tax benefit relating to the recognition of previously unrecognized deferred tax assets 364 112 436 Deferred tax expense arising from the write-down of a previously recognized deferred tax asset 73 169 78

Dividends

Dividends	12 Months Ended
	Dec. 31, 2019
Interim Financial Reporting [Abstract]
Dividends	Dividends The quarterly dividend which is expected to be paid on 27 March 2020 in respect of the fourth quarter 2019 is 10.50 cents per ordinary share ( $0.630 per American Depositary Share (ADS)). The corresponding amount in sterling was announced on 16 March 2020. Pence per share Cents per share $ million 2019 2018 2017 2019 2018 2017 2019 2018 2017 Dividends announced and paid in cash Preference shares 1 1 1 Ordinary shares March 7.7380 7.1691 8.1587 10.25 10.00 10.00 1,435 1,828 1,303 June 8.0660 7.4435 7.7563 10.25 10.00 10.00 1,779 1,727 1,546 September 8.3480 7.9296 7.6213 10.25 10.25 10.00 1,656 1,409 1,676 December 7.8250 8.0251 7.4435 10.25 10.25 10.00 2,075 1,734 1,627 31.9770 30.5673 30.9798 41.00 40.50 40.00 6,946 6,699 6,153 Dividend announced, paid in March 2020 10.50 2,120 The details of the scrip dividends issued are shown in the table below. The board decided not to offer a scrip dividend alternative in respect of the third quarter 2019 dividend paid in December 2019 and fourth quarter 2019 dividend expected to be paid on 27 March 2020. 2019 2018 2017 Number of shares issued (thousand) 208,927 195,305 289,789 Value of shares issued ($ million) 1,387 1,381 1,714 The financial statements for the year ended 31 December 2019 do not reflect the dividend announced on 4 February 2020 and paid in March 2020 ; this will be treated as an appropriation of profit in the year ending 31 December 2020 .

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2019
Earnings per share [abstract]
Earnings per share	Earnings per share Cents per share Per ordinary share 2019 2018 2017 Basic earnings per share 19.84 46.98 17.20 Diluted earnings per share 19.73 46.67 17.10 Dollars per share Per American Depositary Share (ADS) 2019 2018 2017 Basic earnings per share 1.19 2.82 1.03 Diluted earnings per share 1.18 2.80 1.03 Basic earnings per ordinary share amounts are calculated by dividing the profit for the year attributable to BP ordinary shareholders by the weighted average number of ordinary shares outstanding during the year. The weighted average number of shares outstanding includes certain shares that will be issuable in the future under employee share-based payment plans and excludes treasury shares, which includes shares held by the Employee Share Ownership Plan trusts (ESOPs). For the diluted earnings per share calculation, the weighted average number of shares outstanding during the year is adjusted for the average number of shares that are potentially issuable in connection with employee share-based payment plans. If the inclusion of potentially issuable shares would decrease loss per share, the potentially issuable shares are excluded from the weighted average number of shares outstanding used to calculate diluted earnings per share. $ million 2019 2018 2017 Profit attributable to BP shareholders 4,026 9,383 3,389 Less: dividend requirements on preference shares 1 1 1 Profit for the year attributable to BP ordinary shareholders 4,025 9,382 3,388 Shares thousand 2019 2018 2017 Basic weighted average number of ordinary shares 20,284,859 19,970,215 19,692,613 Potential dilutive effect of ordinary shares issuable under employee share-based payment plans 114,811 132,278 123,829 Weighted average number of ordinary shares outstanding used to calculate diluted earnings per share 20,399,670 20,102,493 19,816,442 Shares thousand 2019 2018 2017 Basic weighted average number of ordinary shares – ADS equivalent 3,380,809 3,328,369 3,282,102 Potential dilutive effect of ordinary shares (ADS equivalent) issuable under employee share-based payment plans 19,136 22,046 20,638 Weighted average number of ordinary shares (ADS equivalent) outstanding used to calculate diluted earnings per share 3,399,945 3,350,415 3,302,740 11 . Earnings per share – continued The number of ordinary shares outstanding at 31 December 2019 , excluding treasury shares, and including certain shares that will be issuable in the future under employee share-based payment plans was 20,241,170,965 . Between 31 December 2019 and 27 February 2020 , the latest practicable date before the completion of these financial statements, there was a net decrease of 46,527,851 in the number of ordinary shares outstanding primarily as a result of share issues in relation to employee share-based payment plans. A further 120 million of shares have also been repurchased in January 2020 as part of the share buyback programme at a total cost of $776 million . Employee share-based payment plans The group operates share and share option plans for directors and certain employees to obtain ordinary shares and ADSs in the company. Information on these plans for directors is shown in the Directors remuneration report on pages 100-127 . The following table shows the number of shares potentially issuable under equity-settled employee share option plans, including the number of options outstanding, the number of options exercisable at the end of each year, and the corresponding weighted average exercise prices. The dilutive effect of these plans at 31 December is also shown. Share options 2019 2018 Number of options ab thousand Weighted average exercise price $ Number of options ab thousand Weighted average exercise price $ Outstanding 17,112 4.91 19,437 4.28 Exercisable 1,067 3.97 481 4.69 Dilutive effect 3,990 n/a 6,123 n/a a Numbers of options shown are ordinary share equivalents (one ADS is equivalent to six ordinary shares). b At 31 December 2019 the quoted market price of one BP ordinary share was £4.72 ( 2018 £4.96 ). In addition, the group operates a number of equity-settled employee share plans under which share units are granted to the group’s senior leaders and certain other employees. These plans typically have a three -year performance or restricted period during which the units accrue net notional dividends which are treated as having been reinvested. Leaving employment will normally preclude the conversion of units into shares, but special arrangements apply for participants that leave for qualifying reasons. The number of shares that are expected to vest each year under employee share plans are shown in the table below. The dilutive effect of the employee share plans at 31 December is also shown. Share plans 2019 2018 Number of shares a Number of shares a Vesting thousand thousand Within one year 91,105 108,934 1 to 2 years 89,939 106,337 2 to 3 years 80,844 71,407 3 to 4 years 725 588 Over 4 years 576 799 263,189 288,065 Dilutive effect 92,343 127,165 a Numbers of shares shown are ordinary share equivalents (one ADS is equivalent to six ordinary shares). There has been a net decrease of 37,497,364 in the number of potential ordinary shares relating to employee share-based payment plans between 31 December 2019 and 27 February 2020 .

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2019
Property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment $ million Land and land improvements Buildings Oil and gas properties a Plant, machinery and equipment Fittings, fixtures and office equipment Transportation b Oil depots, storage tanks and service stations Total Cost - owned property, plant and equipment (PP&E) At 1 January 2019 3,562 1,502 232,684 45,721 2,747 10,183 8,866 305,265 Exchange adjustments (22 ) 5 — (158 ) 15 (3 ) (69 ) (232 ) Additions 88 93 13,237 2,433 172 274 644 16,941 Acquisitions 51 — — — — — 8 59 Transfers from intangible assets — — 1,885 — — — — 1,885 Reclassified as assets held for sale (26 ) — (22,602 ) — (76 ) (6,708 ) — (29,412 ) Deletions (44 ) (178 ) (10,852 ) (1,272 ) (326 ) (272 ) (755 ) (13,699 ) At 31 December 2019 3,609 1,422 214,352 46,724 2,532 3,474 8,694 280,807 Depreciation - owned PP&E At 1 January 2019 626 697 133,687 20,512 2,041 7,819 5,146 170,528 Exchange adjustments (4 ) 5 — (63 ) 12 (3 ) (45 ) (98 ) Charge for the year 44 59 13,012 1,705 168 173 420 15,581 Impairment losses 1 1 5,871 64 1 404 4 6,346 Impairment reversals — — (129 ) — — (2 ) — (131 ) Reclassified as assets held for sale — — (17,764 ) — (69 ) (5,478 ) — (23,311 ) Deletions (86 ) (65 ) (9,911 ) (691 ) (147 ) (169 ) (660 ) (11,729 ) At 31 December 2019 581 697 124,766 21,527 2,006 2,744 4,865 157,186 Owned PP&E - net book amount at 31 December 2019 3,028 725 89,586 25,197 526 730 3,829 123,621 Right-of-use assets - net book amount at 31 December 2019 c — 1,196 128 1,241 16 3,385 3,055 9,021 Total PP&E - net book amount at 31 December 2019 3,028 1,921 89,714 26,438 542 4,115 6,884 132,642 Cost At 1 January 2018 3,474 1,573 226,054 46,662 2,853 10,774 8,748 300,138 Exchange adjustments (168 ) (58 ) — (892 ) (73 ) (43 ) (501 ) (1,735 ) Additions 233 40 9,712 2,323 204 (112 ) 736 13,136 Acquisitions 163 4 10,882 9 1 2 36 11,097 Remeasurements b — — 17 — — — — 17 Transfers from intangible assets — — 901 — — — — 901 Deletions (140 ) (45 ) (14,699 ) (1,810 ) (238 ) (128 ) (146 ) (17,206 ) At 31 December 2018 3,562 1,514 232,867 46,292 2,747 10,493 8,873 306,348 Depreciation At 1 January 2018 683 818 133,326 20,996 2,136 7,523 5,185 170,667 Exchange adjustments (25 ) (24 ) — (460 ) (52 ) (27 ) (279 ) (867 ) Charge for the year 92 52 12,342 1,820 189 252 384 15,131 Impairment losses 2 — 86 253 — 178 2 521 Impairment reversals — — (564 ) (1 ) — (17 ) — (582 ) Deletions (126 ) (139 ) (11,333 ) (1,733 ) (232 ) (75 ) (145 ) (13,783 ) At 31 December 2018 626 707 133,857 20,875 2,041 7,834 5,147 171,087 Net book amount at 31 December 2018 2,936 807 99,010 25,417 706 2,659 3,726 135,261 Assets held under finance leases at net book amount included above d At 31 December 2018 — 2 12 207 — 295 6 522 Assets under construction included above At 31 December 2019 23,897 At 31 December 2018 22,522 Depreciation charge for the year on right-of-use assets 2019 220 31 671 9 784 526 2,241 a For information on significant estimates and judgements made in relation to the estimation of oil and natural reserves see Property, plant and equipment within Note 1 . b Includes adjustments to decommissioning provisions; see Note 1 for further information. c $653 million of drilling rig right-of-use assets and $2,929 million of shipping vessel right-of-use assets are included in Plant, machinery and equipment and Transportation respectively. d Leases previously classified as finance leases are included within right-of-use assets following the implementation of IFRS 16 ‘Leases’; see Note 1 for further information. The reconciliation of owned property, plant and equipment for 2019 does not include right-of-use assets and, therefore, the cost and depreciation at 1 January 2019 is not equal to the cost and depreciation of total property, plant and equipment at 31 December 2018. The relevant amounts excluded are cost of $1,083 million and depreciation of $559 million relating to leases previously classified as finance leases.

Capital commitments

Capital commitments	12 Months Ended
	Dec. 31, 2019
Additional information [abstract]
Capital commitments	Capital commitments Authorized future capital expenditure for property, plant and equipment (excluding right-of-use assets) by group companies for which contracts had been signed at 31 December 2019 amounted to $11,382 million ( 2018 $8,319 million , 2017 $11,340 million ). BP has contracted capital commitments amounting to $787 million ( 2018 $1,227 million , 2017 $1,451 million ) in relation to associates. BP’s share of contracted capital commitments of joint ventures amounted to $1,024 million ( 2018 $619 million , 2017 $483 million ).

Goodwill and impairment review

Goodwill and impairment review of goodwill	12 Months Ended
	Dec. 31, 2019
Intangible Assets [Abstract]
Goodwill and impairment review of goodwill	Goodwill and impairment review of goodwill $ million 2019 2018 Cost At 1 January 12,815 12,163 Exchange adjustments 79 (210 ) Acquisitions and other additions a 26 1,046 Deletions (55 ) (184 ) At 31 December 12,865 12,815 Impairment losses At 1 January 611 612 Exchange adjustments — — Impairment losses for the year 386 — Deletions — (1 ) At 31 December 997 611 Net book amount at 31 December 11,868 12,204 Net book amount at 1 January 12,204 11,551 a 2018 principally relates to the purchase of an additional 16.5% share in the Clair field in the North Sea. See Note 3 - Other significant transactions for further information. Impairment review of goodwill Goodwill at 31 December 2019 2018 Upstream 7,958 8,346 Downstream 3,904 3,802 Other businesses and corporate 6 56 11,868 12,204 Goodwill acquired through business combinations has been allocated to groups of cash-generating units that are expected to benefit from the synergies of the acquisition. For Upstream, goodwill is allocated to all oil and gas assets in aggregate at the segment level. For Downstream, goodwill has been allocated to Lubricants and Other. For information on significant estimates and judgements made in relation to impairments see Impairment of property, plant and equipment, intangible assets and goodwill in Note 1 . Upstream 2019 2018 Goodwill 7,958 8,346 Excess of recoverable amount over carrying amount 93,250 53,391 The table above shows the carrying amount of goodwill for the segment and the excess of the recoverable amount, based on a pre-tax value-in-use calculation, over the carrying amount (headroom) at the date of the test. The increase in headroom principally arises from acquisitions (including the acquisition from BHP), new activity and discount rate changes, net of highly probable and completed divestments and price assumption changes. Goodwill impairments of $386 million , related to goodwill allocated to expected divestments, were recognized during 2019 (2018 nil ). The value in use is based on the cash flows expected to be generated by the projected oil or natural gas production profiles up to the expected dates of cessation of production of each producing field, based on current estimates of reserves and resources, appropriately risked. Midstream and supply and trading activities and equity-accounted entities are generally not included in the impairment review of goodwill, because they are not part of the grouping of cash-generating units to which the goodwill relates and which is used to monitor the goodwill for internal management purposes. Where such activities form part of a wider Upstream cash-generating unit, they are reflected in the test. As the production profile and related cash flows can be estimated from BP’s past experience, management believes that the cash flows generated over the estimated life of field is the appropriate basis upon which to assess goodwill and individual assets for impairment. The estimated date of cessation of production depends on the interaction of a number of variables, such as the recoverable quantities of hydrocarbons, the production profile of the hydrocarbons, the cost of the development of the infrastructure necessary to recover the hydrocarbons, production costs, the contractual duration of the production concession and the selling price of the hydrocarbons produced. As each producing field has specific reservoir characteristics and economic circumstances, the cash flows of the fields are computed using appropriate individual economic models and key assumptions agreed by BP management. Capital expenditure, operating costs and expected hydrocarbon production profiles are derived from the business segment plan adjusted for assumptions reflecting the price environment at the time that the test was performed. Estimated production volumes and cash flows up to the date of cessation of production on a field-by-field basis are consistent with this. The production profiles used are consistent with the reserve and resource volumes approved as part of BP’s centrally controlled process for the estimation of proved and probable reserves and total resources. 14 . Goodwill and impairment review of goodwill – continued The most recent review for impairment was carried out in the fourth quarter. The key assumptions used in the value-in-use calculation are oil and natural gas prices, production volumes and the discount rate. Oil and gas price assumptions and discount rate assumptions used were as disclosed in Note 1 . The value-in-use calculation has been prepared solely for the purposes of determining whether the goodwill balance was impaired. Estimated future cash flows were prepared on the basis of certain assumptions prevailing at the time of the test. The actual outcomes may differ from the assumptions made. For example, reserves and resources estimates and production forecasts are subject to revision as further technical information becomes available and economic conditions change. Due to economic developments, regulatory change and emissions reduction activity arising from climate concern and other factors, future commodity prices and other assumptions may differ from the forecasts used in the calculations. Sensitivities to different variables have been estimated using certain simplifying assumptions. For example, lower oil and gas price sensitivities do not fully reflect the specific impacts for each contractual arrangement and will not capture all favourable impacts that may arise from cost deflation. A detailed calculation at any given price or production profile may, therefore, produce a different result. It is estimated that no reasonable sustained fall in the oil or gas price assumption over the next 20 years would individually cause the recoverable amount to be equal to the carrying amount of goodwill and related net non-current assets of the segment. Estimated production volumes are based on detailed data for each field and take into account development plans agreed by management as part of the long-term planning process. The average production for the purposes of goodwill impairment testing over the next 15 years is 829 mmboe per year (2018 829 mmboe per year). It is estimated that no reasonably possible change in production volumes would cause the recoverable amount to be equal to the carrying amount of goodwill and related net non-current assets of the segment. It is estimated that no reasonably possible change in the pre-tax discount rate would cause the recoverable amount to be equal to the carrying amount of goodwill and related net non-current assets of the segment. The weighted average discount rate used in the test is 12% . Downstream $ million 2019 2018 Lubricants Other Total Lubricants Other Total Goodwill 2,779 1,125 3,904 2,692 1,110 3,802 Cash flows for each cash-generating unit are derived from the business segment plans, which cover a period of up to five years . To determine the value in use for each of the cash-generating units, cash flows for a period of 10 years are discounted and aggregated with a terminal value. Lubricants As permitted by IAS 36, the detailed calculations of Lubricants’ recoverable amount performed in the most recent detailed calculation in 2018 was used as the basis for the tests in 2019 as the criteria of IAS 36 were considered satisfied: the headroom was substantial in 2018; there have been no significant changes in the assets and liabilities; and the likelihood that the recoverable amount would be less than the carrying amount is remote. The key assumptions to which the calculation of value in use for the Lubricants unit is most sensitive are operating unit margins, sales volumes, and discount rate. Operating margin and sales volumes assumptions used in the detailed impairment review of goodwill calculation are consistent with the assumptions used in the Lubricants unit’s business plan and values assigned to these key assumptions reflect past experience. No reasonably possible change in any of these key assumptions would cause the unit’s carrying amount to exceed its recoverable amount. Cash flows beyond the plan period are extrapolated using a nominal 2.8% growth rate.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2019
Intangible Assets [Abstract]
Intangible assets	Intangible assets $ million 2019 2018 Exploration and appraisal expenditure a Other intangibles Total Exploration and appraisal expenditure a Other intangibles Total Cost At 1 January 17,053 4,504 21,557 17,886 4,488 22,374 Exchange adjustments — 2 2 — (128 ) (128 ) Acquisitions — 35 35 — 25 25 Additions 1,268 457 1,725 1,095 318 1,413 Transfers to property, plant and equipment (1,885 ) — (1,885 ) (901 ) — (901 ) Reclassified as assets held for sale (671 ) — (671 ) — — — Deletions (459 ) (98 ) (557 ) (1,027 ) (199 ) (1,226 ) At 31 December 15,306 4,900 20,206 17,053 4,504 21,557 Amortization At 1 January 1,064 3,209 4,273 860 3,159 4,019 Exchange adjustments — 4 4 — (77 ) (77 ) Charge for the year 631 331 962 1,085 326 1,411 Impairment losses 2 2 4 137 — 137 Reclassified as assets held for sale (61 ) — (61 ) — — — Deletions (421 ) (94 ) (515 ) (1,018 ) (199 ) (1,217 ) At 31 December 1,215 3,452 4,667 1,064 3,209 4,273 Net book amount at 31 December 14,091 1,448 15,539 15,989 1,295 17,284 Net book amount at 1 January 15,989 1,295 17,284 17,026 1,329 18,355 a For further information see Intangible assets within Note 1 and Note 8 .

Investments in joint ventures (

Investments in joint ventures (Notes)	12 Months Ended
	Dec. 31, 2019
Separate Financial Statements [Abstract]
Investments in joint ventures	Investments in joint ventures The following table provides aggregated summarized financial information relating to the group’s share of joint ventures. In December 2019, BP and Bunge both contributed their Brazilian biofuels and biopower businesses into a new joint venture, BP Bunge Bioenergia. BP owns 50% of the new entity. $ million 2019 2018 2017 Sales and other operating revenues 14,139 13,258 11,380 Profit before interest and taxation 975 1,396 1,394 Finance costs 111 85 100 Profit before taxation 864 1,311 1,294 Taxation 288 414 117 Profit for the year 576 897 1,177 Other comprehensive income (6 ) 6 8 Total comprehensive income 570 903 1,185 Non-current assets 13,408 10,399 Current assets 3,738 2,935 Total assets 17,146 13,334 Current liabilities 2,514 1,715 Non-current liabilities 4,676 3,017 Total liabilities 7,190 4,732 Net assets 9,956 8,602 Group investment in joint ventures Group share of net assets (as above) 9,956 8,602 Loans made by group companies to joint ventures 35 45 9,991 8,647 Transactions between the group and its joint ventures are summarized below. $ million Sales to joint ventures 2019 2018 2017 Product Sales Amount receivable at 31 December Sales Amount receivable at 31 December Sales Amount receivable at LNG, crude oil and oil products, natural gas 4,884 431 4,603 251 3,578 352 $ million Purchases from joint ventures 2019 2018 2017 Product Purchases Amount payable at 31 December Purchases Amount payable at 31 December Purchases Amount LNG, crude oil and oil products, natural gas, refinery operating costs, plant processing fees 1,812 225 1,336 300 1,257 176 The terms of the outstanding balances receivable from joint ventures are typically 30 to 45 days . The balances are unsecured and will be settled in cash. There are no significant provisions for doubtful debts relating to these balances and no significant expense recognized in the income statement in respect of bad or doubtful debts. Dividends receivable are not included in the table above.

Investments in associates

Investments in associates	12 Months Ended
	Dec. 31, 2019
Interest In Other Entities [Abstract]
Investments in associates	Investments in associates The following table provides aggregated summarized financial information for the group’s associates as it relates to the amounts recognized in the group income statement and on the group balance sheet. $ million Income statement Balance sheet Earnings from associates - after interest and tax Investments in associates 2019 2018 2017 2019 2018 Rosneft 2,295 2,283 922 12,927 10,074 Other associates 386 573 408 7,407 7,599 2,681 2,856 1,330 20,334 17,673 The associate that is material to the group at both 31 December 2019 and 2018 is Rosneft. BP owns 19.75% of the voting shares of Rosneft which are listed on the MICEX stock exchange in Moscow and its global depository receipts are listed on the London Stock Exchange. The Russian federal government, through its investment company JSC Rosneftegaz, owned 50.0% plus one share of the voting shares of Rosneft at 31 December 2019 . BP classifies its investment in Rosneft as an associate because, in management’s judgement, BP has significant influence over Rosneft; see Interests in other entities within Note 1 for further information. The group’s investment in Rosneft is a foreign operation whose functional currency is the Russian rouble. The increase in the group's equity-accounted investment balance for Rosneft at 31 December 2019 compared with 31 December 2018 principally relates to earnings from Rosneft and foreign exchange effects, which have been recognized in other comprehensive income, offset by dividends. 17 . Investments in associates – continued The value of BP’s 19.75% shareholding in Rosneft based on the quoted market share price of $7.21 per share ( 2018 $6.18 per share) was $15,090 million at 31 December 2019 ( 2018 $12,934 million ). The following table provides summarized financial information relating to Rosneft. This information is presented on a 100% basis and reflects adjustments made by BP to Rosneft’s own results in applying the equity method of accounting. BP adjusts Rosneft’s results for the accounting required under IFRS relating to BP’s purchase of its interest in Rosneft and the amortization of the deferred gain relating to the disposal of BP’s interest in TNK-BP. These adjustments have increased the reported profit for 2019 , as shown in the table below, compared with the amounts reported in Rosneft's IFRS financial statements. In particular, in 2018 these adjustments resulted in BP reporting a lower amount relating to impairment charges of downstream goodwill than the equivalent amounts reported by Rosneft. $ million Gross amount 2019 2018 2017 Sales and other operating revenues 134,046 131,322 103,028 Profit before interest and taxation 17,473 18,886 9,949 Finance costs 1,281 2,785 2,228 Profit before taxation 16,192 16,101 7,721 Taxation 3,058 2,957 1,742 Non-controlling interests 1,514 1,585 1,311 Profit for the year 11,620 11,559 4,668 Other comprehensive income 572 2,086 2,810 Total comprehensive income 12,192 13,645 7,478 Non-current assets 161,327 137,038 Current assets 38,657 43,438 Total assets 199,984 180,476 Current liabilities 44,459 41,311 Non-current liabilities 79,327 78,754 Total liabilities 123,786 120,065 Net assets 76,198 60,411 Less: non-controlling interests 10,744 9,403 65,454 51,008 The group received dividends, net of withholding tax, of $785 million from Rosneft in 2019 ( 2018 $620 million and 2017 $314 million ). Summarized financial information for the group’s share of associates is shown below. $ million BP share 2019 2018 2017 Rosneft a Other Total Rosneft a Other Total Rosneft a Other Total Sales and other operating revenues 26,474 7,934 34,408 25,936 9,134 35,070 20,348 7,600 27,948 Profit before interest and taxation 3,451 788 4,239 3,730 1,150 4,880 1,965 626 2,591 Finance costs 253 87 340 550 78 628 440 54 494 Profit before taxation 3,198 701 3,899 3,180 1,072 4,252 1,525 572 2,097 Taxation 604 315 919 584 499 1,083 344 164 508 Non-controlling interests 299 — 299 313 — 313 259 — 259 Profit for the year 2,295 386 2,681 2,283 573 2,856 922 408 1,330 Other comprehensive income 113 (25 ) 88 412 (1 ) 411 555 1 556 Total comprehensive income 2,408 361 2,769 2,695 572 3,267 1,477 409 1,886 Non-current assets 31,862 11,504 43,366 27,065 10,787 37,852 Current assets 7,635 1,924 9,559 8,579 2,398 10,977 Total assets 39,497 13,428 52,925 35,644 13,185 48,829 Current liabilities 8,781 1,908 10,689 8,159 2,232 10,391 Non-current liabilities 15,667 4,577 20,244 15,554 3,817 19,371 Total liabilities 24,448 6,485 30,933 23,713 6,049 29,762 Net assets 15,049 6,943 21,992 11,931 7,136 19,067 Less: non-controlling interests 2,122 — 2,122 1,857 — 1,857 12,927 6,943 19,870 10,074 7,136 17,210 Group investment in associates Group share of net assets (as above) 12,927 6,943 19,870 10,074 7,136 17,210 Loans made by group companies to associates — 464 464 — 463 463 12,927 7,407 20,334 10,074 7,599 17,673 a From 1 October 2014, Rosneft adopted hedge accounting in relation to a portion of highly probable future export revenue denominated in US dollars over a five -year period. Foreign exchange gains and losses arising on the retranslation of borrowings denominated in currencies other than the Russian rouble and designated as hedging instruments are recognized initially in other comprehensive income, and are reclassified to the income statement as the hedged revenue is recognized. 17 . Investments in associates – continued Transactions between the group and its associates are summarized below. $ million Sales to associates 2019 2018 2017 Product Sales Amount receivable at Sales Amount receivable at Sales Amount receivable at LNG, crude oil and oil products, natural gas 1,544 243 2,064 393 1,612 216 $ million Purchases from associates 2019 2018 2017 Product Purchases Amount payable at Purchases Amount payable at Purchases Amount payable at Crude oil and oil products, natural gas, transportation tariff 9,503 1,641 14,112 2,069 11,613 1,681 In addition to the transactions shown in the table above, in 2018 BP acquired a 49% stake in LLC Kharampurneftegaz, a Rosneft subsidiary, which develops resources within the Kharampurskoe and Festivalnoye licence areas in Yamalo-Nenets in northern Russia. BP’s interest in LLC Kharampurneftegaz is accounted for as an associate. The terms of the outstanding balances receivable from associates are typically 30 to 45 days . The balances are unsecured and will be settled in cash. There are no significant provisions for doubtful debts relating to these balances and no significant expense recognized in the income statement in respect of bad or doubtful debts. Dividends receivable are not included in the table above. The majority of purchases from associates relate to crude oil and oil products transactions with Rosneft. Sales to associates are related to various entities. BP has commitments amounting to $11,198 million ( 2018 $11,303 million ), primarily in relation to contracts with its associates for the purchase of transportation capacity. For information on capital commitments in relation to associates see Note 13 .

Other investments

Other investments	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Other investments	Other investments $ million 2019 2018 Current Non-current Current Non-current Equity investments a — 571 1 482 Other 169 705 221 859 169 1,276 222 1,341 a The majority of equity investments are unlisted. Other investments includes $598 million relating to contingent consideration amounts arising on disposals (2018 $893 million ) which are financial assets classified as measured at fair value through profit or loss. The fair value is determined using an estimate of discounted future cash flows that are expected to be received and is considered a level 3 valuation under the fair value hierarchy. Future cash flows are estimated based on inputs including oil and natural gas prices, production volumes and operating costs related to the disposed operations. The discount rate used is based on a risk-free rate adjusted for asset-specific risks. The accounting classification of each category of financial instruments and their carrying amounts are set out below. $ million At 31 December 2019 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying amount Financial assets Other investments 18 — 1,445 — 1,445 Loans 906 63 — 969 Trade and other receivables 20 24,271 — — 24,271 Derivative financial instruments 30 — 9,984 483 10,467 Cash and cash equivalents 25 18,183 4,289 — 22,472 Financial liabilities Trade and other payables 22 (55,891 ) — — (55,891 ) Derivative financial instruments 30 — (8,122 ) (676 ) (8,798 ) Accruals (6,062 ) — — (6,062 ) Lease liabilities 28 (9,722 ) — — (9,722 ) Finance debt a 26 (67,724 ) — — (67,724 ) (96,039 ) 7,659 (193 ) (88,573 ) 29 . Financial instruments and financial risk factors – continued $ million At 31 December 2018 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying Financial assets Other investments 18 — 1,563 — 1,563 Loans 839 124 — 963 Trade and other receivables 20 24,080 — — 24,080 Derivative financial instruments 30 — 8,564 427 8,991 Cash and cash equivalents 25 20,366 2,102 — 22,468 Financial liabilities Trade and other payables 22 (56,790 ) — — (56,790 ) Derivative financial instruments 30 — (7,685 ) (1,248 ) (8,933 ) Accruals (5,201 ) — — (5,201 ) Lease liabilities 28 (667 ) — — (667 ) Finance debt a 26 (65,132 ) — — (65,132 ) (82,505 ) 4,668 (821 ) (78,658 ) a As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt and lease liabilities have been amended to be on a consistent basis with amounts presented for 2019. The previously disclosed amounts for finance debt for 2018 was $65,799 million .

Inventories

Inventories	12 Months Ended
	Dec. 31, 2019
Inventories [Abstract]
Inventories	Inventories $ million 2019 2018 Crude oil 5,610 4,878 Natural gas 222 322 Refined petroleum and petrochemical products 12,907 10,419 18,739 15,619 Trading inventories 182 282 18,921 15,901 Supplies 1,959 2,087 20,880 17,988 Cost of inventories expensed in the income statement 209,672 229,878 The inventory valuation at 31 December 2019 is stated net of a provision of $650 million (2018 $1,009 million ) to write down inventories to their net realizable value, of which $290 million ( 2018 $604 million ) relates to hydrocarbon inventories. The net credit to the income statement in the year in respect of inventory net realizable value provisions was $348 million (2018 $552 million charge ), of which $309 million credit ( 2018 $553 million charge ) related to hydrocarbon inventories. Trading inventories are valued using quoted benchmark prices adjusted as appropriate for location and quality differentials. They are predominantly categorized within level 2 of the fair value hierarchy.

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables	Trade and other receivables $ million 2019 2018 Current Non-current Current Non-current Financial assets Trade receivables 19,424 22 19,414 7 Amounts receivable from joint ventures and associates 672 2 642 2 Other receivables 3,325 826 3,275 740 23,421 850 23,331 749 Non-financial assets Gulf of Mexico oil spill trust fund reimbursement asset 201 — 214 — Sales taxes and production taxes 640 538 790 482 Other receivables 180 759 143 603 1,021 1,297 1,147 1,085 24,442 2,147 24,478 1,834 In both 2019 and 2018 the group entered into non-recourse arrangements to discount certain receivables in support of supply and trading activities and the management of credit risk. Trade and other receivables are predominantly non-interest bearing. See Note 29 for further information.

Valuation and qualifying accoun

Valuation and qualifying accounts (Notes)	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and qualifying accounts	Valuation and qualifying accounts $ million 2019 2018 2017 Trade and other receivables Fixed asset investments Trade and other receivables Fixed asset investments Trade and other receivables Fixed asset investments At 1 January – IAS 39 416 235 335 314 392 335 Adjustment on adoption of IFRS 9 — — 115 (85 ) — — At 1 January – IFRS 9 416 235 450 229 392 335 Charged to costs and expenses 206 28 30 10 68 47 Charged to other accounts a (2 ) — (12 ) (1 ) 13 3 Deductions (111 ) (14 ) (52 ) (3 ) (138 ) (71 ) At 31 December 509 249 416 235 335 314 a Principally exchange adjustments . Valuation and qualifying accounts relating to trade and other receivables comprise expected credit loss allowances in 2019 and 2018 and impairment provisions recognized on an incurred loss basis in 2017. The adjustment on adoption of IFRS 9 relates to the additional loss allowance required by IFRS 9's expected credit loss model. The expected credit loss allowance comprises $414 million ( 2018 $327 million ) relating to receivables that were credit-impaired at the end of the year and $95 million ( 2018 $89 million ) relating to receivables that were not credit-impaired at the end of the year. There were no significant changes to the gross carrying amounts of trade and other receivables during the year that affected the estimation of the loss allowance at 31 December 2019 . Valuation and qualifying accounts relating to fixed asset investments comprise impairment provisions for investments in equity-accounted entities in 2019 and 2018. This includes expected credit loss allowances of $2 million ( 2018 $44 million ) relating to loans that form part of the net investment in equity-accounted entities. The adjustment on adoption of IFRS 9 primarily relates to amounts provided against investments in equity instruments that were held at cost less impairment losses under IAS 39 but that are classified as measured at fair value through profit or loss under IFRS 9. In addition to the amounts presented above, expected loss allowances on cash and cash equivalents classified as measured at amortized cost totalled $11 million ( 2018 $11 million ). For further information on the group's credit risk management policies and how the group recognizes and measures expected losses see Note 29 . Valuation and qualifying accounts are deducted in the balance sheet from the assets to which they apply.

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Trade and other payables	Trade and other payables $ million 2019 2018 Current Non-current Current Non-current Financial liabilities Trade payables 30,538 — 26,252 — Amounts payable to joint ventures and associates 1,866 — 2,369 — Payables for capital expenditure and acquisitions a 3,868 1,196 7,325 1,345 Payables related to the Gulf of Mexico oil spill 1,617 10,863 2,279 11,922 Other payables 5,810 133 4,980 318 43,699 12,192 43,205 13,585 Non-financial liabilities Sales taxes, customs duties, production taxes and social security 2,381 33 2,272 35 Other payables 749 401 788 210 3,130 434 3,060 245 46,829 12,626 46,265 13,830 a 2018 includes $3,514 million deferred consideration relating to the acquisition of Petrohawk Energy Corporation from BHP Billiton Petroleum (North America) Inc. See Note 3 for further information. Materially all of BP's trade payables have payment terms in the range of 30 to 60 days and give rise to operating cash flows. Trade and other payables, other than those relating to the Gulf of Mexico oil spill, are predominantly interest free. See Note 29 (c) for further information. Payables related to the Gulf of Mexico oil spill include amounts payable under the 2016 consent decree and settlement agreement with the United States and five Gulf coast states, including amounts payable for natural resource damages, state claims and Clean Water Act penalties. On a discounted basis the amounts included in other payables for these elements of the agreements are $5,166 million payable over 13 years, $2,742 million payable over 14 years and $3,782 million payable over 13 years respectively at 31 December 2019 . Reported within net cash provided by operating activities in the group cash flow statement is a net cash outflow of $2,694 million (2018 outflow of $3,531 million , 2017 outflow of $5,336 million ) related to the Gulf of Mexico oil spill, which includes payments made in relation to these agreements. For 2018 and 2017 payments under the 2012 agreement with the US government to resolve all federal criminal claims arising from the incident are also included. For full details of these agreements, see BP Annual Report and Form 20-F 2015 . Payables related to the Gulf of Mexico oil spill at 31 December 2019 also include amounts payable for settled economic loss and property damage claims which are payable over a period of up to eight years.

Provisions

Provisions	12 Months Ended
	Dec. 31, 2019
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Provisions	Provisions $ million Decommissioning Environmental Litigation and claims Other Total At 1 January 2019 a 13,613 1,567 1,718 3,306 20,204 Exchange adjustments 74 (1 ) — (19 ) 54 Acquisitions 13 — 47 22 82 Increase (decrease) in existing provisions 1,045 272 290 960 2,567 Write-back of unused provisions (22 ) (43 ) (15 ) (361 ) (441 ) Unwinding of discount 415 45 28 17 505 Change in discount rate 1,360 40 31 11 1,442 Utilization (9 ) (252 ) (674 ) (665 ) (1,600 ) Reclassified to other payables (187 ) — (139 ) (328 ) (654 ) Reclassified as liabilities directly associated with assets held for sale (1,004 ) (8 ) — — (1,012 ) Deletions (188 ) — (5 ) (3 ) (196 ) At 31 December 2019 15,110 1,620 1,281 2,940 20,951 Of which – current 317 280 558 1,298 2,453 – non-current 14,793 1,340 723 1,642 18,498 Of which – Gulf of Mexico oil spill — — 189 — 189 a Includes adjustment of $92 million for the implementation of IFRS 16. See Note 1 for further information. The decommissioning provision comprises the future cost of decommissioning oil and natural gas wells, facilities and related pipelines. The environmental provision includes provisions for costs related to the control, abatement, clean-up or elimination of environmental pollution relating to soil, groundwater, surface water and sediment contamination. The litigation and claims category includes provisions for matters related to, for example, commercial disputes, product liability, and allegations of exposures of third parties to toxic substances. Included within the other category at 31 December 2019 are provisions for deferred employee compensation of $311 million ( 2018 $338 million ). For information on significant estimates and judgements made in relation to provisions, see Provisions and contingencies within Note 1 . 23 . Provisions – continued Gulf of Mexico oil spill The group has recognized certain assets, payables and provisions and incurs certain residual costs relating to the Gulf of Mexico oil spill that occurred in 2010. In addition to the Litigation and claims narrative provided in this note, for further information see Notes 7, 9, 20, 22, 29, 33 and Legal proceedings on pages 319-320 . Litigation and claims - PSC settlements The Economic and Property Damages Settlement Agreement (EPD Settlement Agreement) with the Plaintiff's Steering Committee (PSC) provides for a court-supervised settlement programme ,the DHCSSP, which commenced operation on 4 June 2012. A separate claims administrator was appointed to pay medical claims and to implement other aspects of the Medical Benefits Class Action Settlement. For further information on the PSC settlements, see Legal proceedings on page 319 . The litigation and claims provision reflects the latest estimate for the remaining costs associated with the PSC settlements. These costs relate predominantly to business economic loss (BEL) claims and associated administration costs. Only a very small number of claims remained to be determined by the end of 2019 however certain BEL claims determined by the DHCSSP have been and continue to be appealed by BP and/or the claimants. Claims under appeal will ultimately only be resolved once the full judicial appeals process has been concluded, including appeals to the Federal District Court and Fifth Circuit, as may be the case, or when settlements are reached with individual claimants. Depending upon the ultimate resolution of these claims, the amounts payable may differ from those currently provided. Payments to resolve outstanding claims under the PSC settlements are expected to be made over the next couple of years. The timing of payments, however, is uncertain, and, in particular, will be impacted by how long it takes to resolve claims that have been appealed and may be appealed in the future.

Pensions and other post-retirem

Pensions and other post-retirement benefits	12 Months Ended
	Dec. 31, 2019
Employee Benefits [Abstract]
Pensions and other post-retirement benefits	Pensions and other post-retirement benefits Most group companies have pension plans, the forms and benefits of which vary with conditions and practices in the countries concerned. Pension benefits may be provided through defined contribution plans (money purchase schemes) or defined benefit plans (final salary and other types of schemes with committed pension benefit payments). For defined contribution plans, retirement benefits are determined by the value of funds arising from contributions paid in respect of each employee. For defined benefit plans, retirement benefits are based on such factors as an employee’s pensionable salary and length of service. Defined benefit plans may be funded or unfunded. The assets of funded plans are generally held in separately administered trusts. For information on significant estimates and judgements made in relation to accounting for these plans see Pensions and other post-retirement benefits in Note 1 . The primary pension arrangement in the UK is a funded final salary pension plan under which retired employees draw the majority of their benefit as an annuity. This pension plan is governed by a corporate trustee whose board is composed of four member-nominated directors, four company-nominated directors, an independent director and an independent chairman nominated by the company. The trustee board is required by law to act in the best interests of the plan participants and is responsible for setting certain policies, such as investment policies of the plan. The UK plan is closed to new joiners but remains open to ongoing accrual for current members. New joiners in the UK are eligible for membership of a defined contribution plan. In the US, all pension benefits now accrue under a cash balance formula. Benefits previously accrued under final salary formulas are legally protected. Retiring US employees typically take their pension benefit in the form of a lump sum payment upon retirement. The plan is funded and its assets are overseen by a fiduciary Investment Committee. During 2019 the committee was composed of six BP employees appointed by the president of BP Corporation North America Inc. (the appointing officer). A seventh BP employee was added to the committee on 1 January 2020. The Investment Committee is required by law to act in the best interests of the plan participants and is responsible for setting certain policies, such as the investment policies of the plan. US employees are also eligible to participate in a defined contribution (401k) plan in which employee contributions are matched with company contributions. In the US, group companies also provide post-retirement healthcare to retired employees and their dependants (and, in certain cases, life insurance coverage); the entitlement to these benefits is usually based on the employee remaining in service until a specified age and completion of a minimum period of service. In the Eurozone, there are defined benefit pension plans in Germany, France, the Netherlands and other countries. In Germany and France, the majority of the pensions are unfunded, in line with market practice. In Germany, the group’s largest Eurozone plan, employees receive a pension and also have a choice to supplement their core pension through salary sacrifice. For employees who joined since 2002, the core pension benefit is a career average plan with retirement benefits based on such factors as an employee’s pensionable salary and length of service. The returns on the notional contributions made by both the company and employees are based on the interest rate which is set out in German tax law. Retired German employees take their pension benefit typically in the form of an annuity. The German plans are governed by legal agreements between BP and the works council or between BP and the trade union. The level of contributions to funded defined benefit plans is the amount needed to provide adequate funds to meet pension obligations as they fall due. During 2019 the aggregate level of contributions was $349 million ( 2018 $610 million and 2017 $637 million ). The aggregate level of contributions in 2020 is expected to be approximately $550 million , and includes contributions in all countries that we expect to be required to make contributions by law or under contractual agreements, as well as an allowance for discretionary funding. For the primary UK plan there is a funding agreement between the group and the trustee. On an annual basis the latest funding position is reviewed and a schedule of contributions is agreed covering the next five years . Contractually committed funding amounted to $1,276 million at 31 December 2019 , all of which relates to future service. This amount is included in the group’s committed cash flows relating to pensions and other post-retirement benefit plans as set out in the table of contractual obligations on page 302 . The surplus relating to the primary UK pension plan is recognized on the balance sheet on the basis that the company is entitled to a refund of any remaining assets once all members have left the plan. Pension contributions in the US are determined by legislation and are supplemented by discretionary contributions. No contributions were made into the primary US pension plan in 2019 and no statutory funding requirement is expected in the next 12 months. The surplus relating to the primary US fund is recognized on the balance sheet on the basis that economic benefit can be gained from the surplus through a reduction in future contributions. There was no minimum funding requirement for the US plan, and no significant minimum funding requirements in other countries at 31 December 2019 . 24 . Pensions and other post-retirement benefits – continued The obligation and cost of providing pensions and other post-retirement benefits is assessed annually using the projected unit credit method. The date of the most recent actuarial review was 31 December 2019 . The UK plans are subject to a formal actuarial valuation every three years; valuations are required more frequently in many other countries. The most recent formal actuarial valuation of the UK pension plans was as at 31 December 2017. A valuation of the US plan and largest Eurozone plans are carried out annually. The material financial assumptions used to estimate the benefit obligations of the various plans are set out below. The assumptions are reviewed by management at the end of each year, and are used to evaluate the accrued benefit obligation at 31 December and pension expense for the following year. % Financial assumptions used to determine benefit obligation UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rate for plan liabilities 2.1 2.9 2.5 3.1 4.1 3.5 1.3 2.0 1.9 Rate of increase in salaries 3.4 3.8 4.1 3.9 3.9 4.1 3.1 3.1 3.0 Rate of increase for pensions in payment 2.7 3.0 2.9 — — — 1.5 1.5 1.4 Rate of increase in deferred pensions 2.7 3.0 2.9 — — — 0.5 0.5 0.6 Inflation for plan liabilities 2.7 3.1 3.1 1.5 1.5 1.7 1.7 1.7 1.6 % Financial assumptions used to determine benefit expense UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rate for plan service cost 3.0 2.6 2.7 4.2 3.6 4.1 2.5 2.4 2.1 Discount rate for plan other finance expense 2.9 2.5 2.7 4.1 3.5 3.9 2.0 1.9 1.7 Inflation for plan service cost 3.1 3.1 3.2 1.5 1.7 1.8 1.7 1.6 1.6 The discount rate assumptions are based on third-party AA corporate bond indices and for our largest plans in the UK, US and the Eurozone we use yields that reflect the maturity profile of the expected benefit payments. The inflation rate assumptions for our UK and US plans are based on the difference between the yields on index-linked and fixed-interest long-term government bonds. In other countries, including the Eurozone, we use this approach, or advice from the local actuary depending on the information available. The inflation assumptions are used to determine the rate of increase for pensions in payment and the rate of increase in deferred pensions where there is such an increase. The assumptions for the rate of increase in salaries are based on the inflation assumption plus an allowance for expected long-term real salary growth. These include an allowance for promotion-related salary growth, of up to 0.8% depending on country. In addition to the financial assumptions, we regularly review the demographic and mortality assumptions. The mortality assumptions reflect best practice in the countries in which we provide pensions, and have been chosen with regard to applicable published tables adjusted where appropriate to reflect the experience of the group and an extrapolation of past longevity improvements into the future. BP’s most substantial pension liabilities are in the UK, the US and the Eurozone where our mortality assumptions are as follows: Years Mortality assumptions UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Life expectancy at age 60 for a male currently aged 60 27.3 27.4 27.4 24.9 25.1 25.1 25.7 25.6 25.1 Life expectancy at age 60 for a male currently aged 40 28.9 28.9 29.0 26.7 26.9 26.8 28.3 28.1 27.6 Life expectancy at age 60 for a female currently aged 60 28.7 28.8 28.8 28.0 28.5 28.4 29.1 29.0 29.0 Life expectancy at age 60 for a female currently aged 40 30.5 30.6 30.5 29.7 30.1 30.0 31.2 31.2 31.4 Pension plan assets are generally held in trusts, the primary objective of which is to accumulate assets sufficient to meet the obligations of the plans. The assets of the trusts are invested in a manner consistent with fiduciary obligations and principles that reflect current practices in portfolio management. A significant proportion of the assets are held in equities, which are expected to generate a higher level of return over the long term, with an acceptable level of risk. In order to provide reasonable assurance that no single security or type of security has an unwarranted impact on the total portfolio, the investment portfolios are highly diversified. The trustee’s long-term investment objective for the primary UK plan as it matures is to invest in assets whose value changes in the same way as the plan liabilities, in order to reduce the level of funding risk. To move towards this objective, the UK plan uses a liability driven investment (LDI) approach for part of the portfolio, investing primarily in government bonds to achieve this matching effect for the most significant plan liability assumptions of interest rate and inflation rate. This is partly funded by short-term sale and repurchase agreements, whereby the plan borrows money using existing bonds as security and which will be bought back at a specified price at an agreed future date. The funds raised are used to invest in further bonds to increase the proportion of assets which match the plan liabilities. The borrowings are shown separately in the analysis of pension plan assets in the table below. For the primary UK pension plan there is an agreement with the trustee to increase the proportion of assets with liability matching characteristics over time primarily by reducing the proportion of plan assets held as equities and increasing the proportion held as bonds. There is a similar agreement in place for the primary US plan. During 2019 , the UK and the US plans switched 2% and nil of plan assets respectively from equities to bonds (2018 12.5% and 10% respectively). 24 . Pensions and other post-retirement benefits – continued The current asset allocation policy for the major plans at 31 December 2019 was as follows: UK US Asset category % % Total equity (including private equity) 28 40 Bonds/cash (including LDI) 65 60 Property/real estate 7 — The amounts invested under the LDI programme by the primary UK pension plan as at 31 December 2019 were $4,804 million ( 2018 $4,197 million ) of government-issued nominal bonds and $19,462 million ( 2018 $17,491 million ) of index-linked bonds. Some of the group’s pension plans in the Eurozone and other countries use derivative financial instruments as part of their asset mix to manage the level of risk. The fair value of these instruments are included in other assets in the table below. The UK and US plans do not use derivative financial instruments. The group’s main pension plans do not invest directly in either securities or property/real estate of the company or of any subsidiary. The fair values of the various categories of assets held by the defined benefit plans at 31 December are presented in the table below, including the effects of derivative financial instruments. Movements in the fair value of plan assets during the year are shown in detail in the table on page 197 . $ million UK a US b Eurozone Other Total Fair value of pension plan assets At 31 December 2019 Listed equities – developed markets 6,285 1,290 495 371 8,441 – emerging markets 1,096 124 61 64 1,345 Private equity c 2,675 1,474 — 3 4,152 Government issued nominal bonds d 4,884 2,100 959 572 8,515 Government issued index-linked bonds d 19,462 — 100 — 19,562 Corporate bonds d 6,132 2,304 569 256 9,261 Property e 2,507 — 96 27 2,630 Cash 426 289 33 93 841 Other 98 74 30 26 228 Debt (repurchase agreements) used to fund liability driven investments (7,436 ) — — — (7,436 ) 36,129 7,655 2,343 1,412 47,539 At 31 December 2018 Listed equities – developed markets 5,191 1,238 413 306 7,148 – emerging markets 950 63 65 56 1,134 Private equity c 2,792 1,495 — 4 4,291 Government issued nominal bonds d 4,263 2,072 895 533 7,763 Government issued index-linked bonds d 17,491 — 102 — 17,593 Corporate bonds d 4,606 2,184 506 243 7,539 Property e 2,311 6 57 25 2,399 Cash 376 73 42 83 574 Other 116 64 32 40 252 Debt (repurchase agreements) used to fund liability driven investments (6,011 ) — — — (6,011 ) 32,085 7,195 2,112 1,290 42,682 At 31 December 2017 Listed equities – developed markets 9,548 2,158 537 376 12,619 – emerging markets 2,220 220 83 53 2,576 Private equity c 2,679 1,461 — — 4,140 Government issued nominal bonds d 2,663 1,777 941 545 5,926 Government issued index-linked bonds d 16,177 — 2 — 16,179 Corporate bonds d 4,682 2,024 546 272 7,524 Property e 2,211 6 71 30 2,318 Cash 390 80 21 98 589 Other 104 53 23 45 225 Debt (repurchase agreements) used to fund liability driven investments (5,583 ) — — — (5,583 ) 35,091 7,779 2,224 1,419 46,513 a Bonds held by the UK pension plans are denominated in sterling. Property held by the UK pension plans is in the United Kingdom. b Bonds held by the US pension plans are denominated in US dollars. c Private equity is valued at fair value based on the most recent transaction price or third-party net asset, revenue or earnings based valuations that generally result in the use of significant unobservable inputs. d Bonds held by pension plans are valued using quoted prices in active markets. e Properties are valued based on an analysis of recent market transactions supported by market knowledge derived from third-party professional valuers that generally result in the use of significant unobservable inputs. 24 . Pensions and other post-retirement benefits – continued $ million 2019 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 227 263 81 38 609 Past service cost b 2 — 5 (1 ) 6 Settlement b — (13 ) 8 — (5 ) Operating charge relating to defined benefit plans 229 250 94 37 610 Payments to defined contribution plans 42 188 7 38 275 Total operating charge 271 438 101 75 885 Interest income on plan assets a (909 ) (285 ) (43 ) (46 ) (1,283 ) Interest on plan liabilities 757 387 133 69 1,346 Other finance (income) expense (152 ) 102 90 23 63 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets 2,945 1,079 220 97 4,341 Change in financial assumptions underlying the present value of the plan liabilities (2,294 ) (1,036 ) (748 ) (92 ) (4,170 ) Change in demographic assumptions underlying the present value of the plan liabilities 136 91 3 (4 ) 226 Experience gains and losses arising on the plan liabilities (57 ) (22 ) 6 4 (69 ) Remeasurements recognized in other comprehensive income 730 112 (519 ) 5 328 Movements in benefit obligation during the year Benefit obligation at 1 January 26,830 9,696 6,906 1,686 45,118 Exchange adjustments 942 — (142 ) 26 826 Operating charge relating to defined benefit plans 229 250 94 37 610 Interest cost 757 387 133 69 1,346 Contributions by plan participants c 20 — 2 6 28 Benefit payments (funded plans) d (1,207 ) (830 ) (76 ) (75 ) (2,188 ) Benefit payments (unfunded plans) d (6 ) (205 ) (273 ) (15 ) (499 ) Reclassified as assets held for sale — (146 ) — — (146 ) Disposals — — (30 ) — (30 ) Remeasurements 2,215 967 739 92 4,013 Benefit obligation at 31 December a e 29,780 10,119 7,353 1,826 49,078 Movements in fair value of plan assets during the year Fair value of plan assets at 1 January 32,085 7,195 2,112 1,290 42,682 Exchange adjustments 1,141 — (43 ) 24 1,122 Interest income on plan assets a f 909 285 43 46 1,283 Contributions by plan participants c 20 — 2 6 28 Contributions by employers (funded plans) 236 4 85 24 349 Benefit payments (funded plans) d (1,207 ) (830 ) (76 ) (75 ) (2,188 ) Reclassified as assets held for sale — (78 ) — — (78 ) Remeasurements f 2,945 1,079 220 97 4,341 Fair value of plan assets at 31 December g 36,129 7,655 2,343 1,412 47,539 Surplus (deficit) at 31 December 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) Represented by Asset recognized 6,588 387 27 51 7,053 Liability recognized (239 ) (2,851 ) (5,037 ) (465 ) (8,592 ) 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) The surplus (deficit) may be analysed between funded and unfunded plans as follows Funded 6,588 387 (136 ) (87 ) 6,752 Unfunded (239 ) (2,851 ) (4,874 ) (327 ) (8,291 ) 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) The defined benefit obligation may be analysed between funded and unfunded plans as follows Funded (29,541 ) (7,268 ) (2,479 ) (1,499 ) (40,787 ) Unfunded (239 ) (2,851 ) (4,874 ) (327 ) (8,291 ) (29,780 ) (10,119 ) (7,353 ) (1,826 ) (49,078 ) a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs and settlements in the Eurozone have arisen from restructuring programmes and represent charges for special termination benefits reflecting the increased liability arising as a result of early retirements. Settlements in the US are the result of a buy-out transaction for the pensions of a group of low value annuitants. c Most of the contributions made by plan participants into UK pension plans were made under salary sacrifice. d The benefit payments amount shown above comprises $2,304 million benefits and $346 million settlements, plus $37 million of plan expenses incurred in the administration of the benefit. e The benefit obligation for the US is made up of $7,789 million for pension liabilities and $2,330 million for other post-retirement benefit liabilities (which are unfunded and are primarily retiree medical liabilities). The benefit obligation for the Eurozone includes $4,567 million for pension liabilities in Germany which is largely unfunded. f The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above. g The fair value of plan assets includes borrowings related to the LDI programme as described on page 196 . 24 . Pensions and other post-retirement benefits – continued $ million 2018 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 295 299 84 43 721 Past service cost b 15 — 9 4 28 Settlement b — — 17 — 17 Operating charge relating to defined benefit plans 310 299 110 47 766 Payments to defined contribution plans 38 178 5 40 261 Total operating charge 348 477 115 87 1,027 Interest income on plan assets a (868 ) (262 ) (44 ) (45 ) (1,219 ) Interest on plan liabilities 774 369 136 67 1,346 Other finance (income) expense (94 ) 107 92 22 127 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets (722 ) (256 ) (69 ) (36 ) (1,083 ) Change in financial assumptions underlying the present value of the plan liabilities 1,770 945 14 65 2,794 Change in demographic assumptions underlying the present value of the plan liabilities 123 (9 ) (42 ) 7 79 Experience gains and losses arising on the plan liabilities 520 41 (43 ) 9 527 Remeasurements recognized in other comprehensive income 1,691 721 (140 ) 45 2,317 Movements in benefit obligation during the year Benefit obligation at 1 January 31,513 10,820 7,275 1,873 51,481 Exchange adjustments (1,589 ) — (303 ) (113 ) (2,005 ) Operating charge relating to defined benefit plans 310 299 110 47 766 Interest cost 774 369 136 67 1,346 Contributions by plan participants c 21 — 2 7 30 Benefit payments (funded plans) d (1,780 ) (597 ) (84 ) (83 ) (2,544 ) Benefit payments (unfunded plans) d (6 ) (218 ) (301 ) (17 ) (542 ) Disposals — — — (14 ) (14 ) Remeasurements (2,413 ) (977 ) 71 (81 ) (3,400 ) Benefit obligation at 31 December a e 26,830 9,696 6,906 1,686 45,118 Movements in fair value of plan assets during the year Fair value of plan assets at 1 January 35,091 7,779 2,224 1,419 46,513 Exchange adjustments (1,883 ) — (93 ) (73 ) (2,049 ) Interest income on plan assets a f 868 262 44 45 1,219 Contributions by plan participants c 21 — 2 7 30 Contributions by employers (funded plans) 490 7 88 25 610 Benefit payments (funded plans) d (1,780 ) (597 ) (84 ) (83 ) (2,544 ) Disposals — — — (14 ) (14 ) Remeasurements f (722 ) (256 ) (69 ) (36 ) (1,083 ) Fair value of plan assets at 31 December g 32,085 7,195 2,112 1,290 42,682 Surplus (deficit) at 31 December 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) Represented by Asset recognized 5,473 418 29 35 5,955 Liability recognized (218 ) (2,919 ) (4,823 ) (431 ) (8,391 ) 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) The surplus (deficit) may be analysed between funded and unfunded plans as follows Funded 5,473 396 (152 ) (97 ) 5,620 Unfunded (218 ) (2,897 ) (4,642 ) (299 ) (8,056 ) 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) The defined benefit obligation may be analysed between funded and unfunded plans as follows Funded (26,612 ) (6,799 ) (2,264 ) (1,387 ) (37,062 ) Unfunded (218 ) (2,897 ) (4,642 ) (299 ) (8,056 ) (26,830 ) (9,696 ) (6,906 ) (1,686 ) (45,118 ) a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs and settlements have arisen from restructuring programmes and represent charges for special termination benefits representing the increased liability arising as a result of early retirements mostly in the UK and Eurozone. c Most of the contributions made by plan participants into UK pension plans were made under salary sacrifice. d The benefit payments amount shown above comprises $3,046 million benefits and $2 million settlements, plus $38 million of plan expenses incurred in the administration of the benefit. e The benefit obligation for the US is made up of $7,290 million for pension liabilities and $2,406 million for other post-retirement benefit liabilities (which are unfunded and are primarily retiree medical liabilities). The benefit obligation for the Eurozone includes $4,328 million for pension liabilities in Germany which is largely unfunded. f The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above. g The fair value of plan assets includes borrowings related to the LDI programme as described on page 196 . 24 . Pensions and other post-retirement benefits – continued $ million 2017 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 357 292 85 46 780 Past service cost b 12 — 5 (1 ) 16 Settlement — — 13 — 13 Operating charge relating to defined benefit plans 369 292 103 45 809 Payments to defined contribution plans 31 191 7 38 267 Total operating charge 400 483 110 83 1,076 Interest income on plan assets a (845 ) (266 ) (37 ) (48 ) (1,196 ) Interest on plan liabilities 831 393 121 71 1,416 Other finance (income) expense (14 ) 127 84 23 220 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets 2,396 826 30 43 3,295 Change in financial assumptions underlying the present value of the plan liabilities (236 ) (514 ) 336 (47 ) (461 ) Change in demographic assumptions underlying the present value of the plan liabilities 734 72 — (23 ) 783 Experience gains and losses arising on the plan liabilities 91 (40 ) (36 ) 14 29 Remeasurements recognized in other comprehensive income 2,985 344 330 (13 ) 3,646 a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs have arisen from restructuring programmes and represent a combination of credits as a result of the curtailment in the pension arrangements of a number of employees mostly in the US and charges for special termination benefits representing the increased liability arising as a result of early retirements mostly in the UK and Eurozone. Sensitivity analysis The discount rate, inflation, salary growth and the mortality assumptions all have a significant effect on the amounts reported. A one-percentage point change, in isolation, in certain assumptions as at 31 December 2019 for the group’s pensions and other post-retirement benefit expense would have had the effects shown in the tables below. The effects shown for the expense in 2020 comprise the total of current service cost and net finance income or expense. $ million One percentage point UK US Eurozone Increase Decrease Increase Decrease Increase Decrease Discount rate a Effect on expense in 2020 (274 ) 227 (66 ) 58 (1 ) (11 ) Effect on obligation at 31 December 2019 (4,729 ) 6,364 (1,191 ) 1,478 (1,060 ) 1,347 Inflation rate b Effect on expense in 2020 171 (134 ) 11 (9 ) 35 (27 ) Effect on obligation at 31 December 2019 4,711 (3,890 ) 67 (54 ) 978 (824 ) Salary growth Effect on expense in 2020 42 (36 ) 13 (11 ) 7 (7 ) Effect on obligation at 31 December 2019 604 (525 ) 80 (67 ) 93 (89 ) a The amounts presented reflect that the discount rate is used to determine the asset interest income as well as the interest cost on the obligation. b The amounts presented reflect the total impact of an inflation rate change on the assumptions for rate of increase in salaries, pensions in payment and deferred pensions. $ million One year increase UK US Eurozone Longevity Effect on expense in 2020 31 6 9 Effect on obligation at 31 December 2019 1,140 147 306 Estimated future benefit payments and the weighted average duration of defined benefit obligations The expected benefit payments, which reflect expected future service, as appropriate, but exclude plan expenses, up until 2029 and the weighted average duration of the defined benefit obligations at 31 December 2019 are as follows: $ million Estimated future benefit payments UK US Eurozone Other Total 2020 1,065 743 333 104 2,245 2021 1,078 789 323 98 2,288 2022 1,098 711 319 101 2,229 2023 1,138 718 314 98 2,268 2024 1,151 699 300 99 2,249 2025-2029 5,895 3,277 1,438 489 11,099 Years Weighted average duration 18.3 13.2 16.4 13.0 Employee costs and numbers $ million Employee costs 2019 2018 2017 Wages and salaries a 7,497 7,931 7,572 Social security costs 733 743 711 Share-based payments b 694 669 624 Pension and other post-retirement benefit costs 948 1,154 1,296 9,872 10,497 10,203 2019 2018 2017 Average number of employees c US Non-US Total US Non-US Total US Non-US Total Upstream 5,800 11,000 16,800 5,900 11,500 17,400 6,200 12,200 18,400 Downstream d 5,700 37,300 43,000 6,000 36,300 42,300 6,100 35,900 42,000 Other businesses and corporate e 2,100 10,600 12,700 1,900 12,100 14,000 1,900 12,400 14,300 13,600 58,900 72,500 13,800 59,900 73,700 14,200 60,500 74,700 a Includes termination costs of $182 million ( 2018 $493 million and 2017 $189 million ). b The group provides certain employees with shares and share options as part of their remuneration packages. The majority of these share-based payment arrangements are equity-settled. c Reported to the nearest 100. d Includes 18,100 ( 2018 17,100 and 2017 16,500 ) service station staff. e Includes 2,500 ( 2018 4,000 and 2017 4,700 ) agricultural, operational and seasonal workers in Brazil.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Cash and cash equivalents	Cash and cash equivalents $ million 2019 2018 Cash 6,462 6,148 Term bank deposits 10,296 13,105 Cash equivalents (excluding term bank deposits) 5,714 3,215 22,472 22,468 Cash and cash equivalents comprise cash in hand; current balances with banks and similar institutions; term deposits of three months or less with banks and similar institutions; money market funds and commercial paper. The carrying amounts of cash and term bank deposits approximate their fair values. Substantially all of the other cash equivalents are categorized within level 1 of the fair value hierarchy. Cash and cash equivalents at 31 December 2019 includes $1,676 million ( 2018 $1,350 million ) that is restricted. The restricted cash balances include amounts required to cover initial margin on trading exchanges and certain cash balances which are subject to exchange controls. The group holds $4,678 million ( 2018 $4,693 million ) of cash and cash equivalents outside the UK and it is not expected that any significant tax will arise on repatriation.

Finance debt

Finance debt	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Finance debt	Finance debt $ million 2019 2018 Current Non-current Total Current Non-current Total Borrowings 10,487 57,237 67,724 9,329 55,803 65,132 As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt has been amended to be on a consistent basis with amounts presented for 2019. See Note 1 and Note 27 for further information. The main elements of current borrowings are the current portion of long-term borrowings that is due to be repaid in the next 12 months of $8,166 million ( 2018 $7,175 million ) and issued commercial paper of $2,279 million ( 2018 $2,040 million ). Finance debt does not include accrued interest, which is reported within other payables. The following table shows the weighted-average interest rates achieved through a combination of borrowings and derivative financial instruments entered into to manage interest rate and currency exposures. Fixed rate debt Floating rate debt Total Weighted average interest rate % Weighted average time for which rate is fixed Years Amount $ million Weighted average interest rate % Amount $ million Amount $ million 2019 US dollar 4 5 25,634 3 41,871 67,505 Other currencies 6 10 183 7 36 219 25,817 41,907 67,724 2018 US dollar 4 4 17,264 4 47,461 64,725 Other currencies 5 5 323 8 84 407 17,587 47,545 65,132 Comparative information in the table above has been amended to exclude previously classified finance lease liabilities of $667 million from US dollar and other currencies, primarily from fixed-rate debt. The calculation of the comparative weighted-average interest rate and time for which rate is fixed is unchanged for US dollar fixed-rate debt and was previously 7% and 18 years respectively for other currencies fixed-rate debt. Fair values The estimated fair value of finance debt is shown in the table below together with the carrying amount as reflected in the balance sheet. Long-term borrowings in the table below include the portion of debt that matures in the 12 months from 31 December 2019 , whereas in the group balance sheet the amount is reported within current finance debt. The carrying amount of the group’s short-term borrowings, comprising mainly of commercial paper, approximates their fair value. The fair values of the significant majority of the group’s long-term borrowings are determined using quoted prices in active markets, and so fall within level 1 of the fair value hierarchy. Where quoted prices are not available, quoted prices for similar instruments in active markets are used and such measurements are therefore categorized in level 2 of the fair value hierarchy. $ million 2019 2018 Fair value Carrying amount Fair value Carrying amount Short-term borrowings 2,321 2,321 2,153 2,153 Long-term borrowings 67,055 65,403 63,213 62,979 Total finance debt 69,376 67,724 65,366 65,132

Capital disclosures and net deb

Capital disclosures and net debt	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Capital disclosures and analysis of changes in net debt	Capital disclosures and net debt The group defines capital as total equity. We maintain our financial framework to support the pursuit of value growth for shareholders, while ensuring a secure financial base. The group monitors capital on basis of gearing (previously termed 'net debt ratio'), that is, the ratio of net debt to net debt plus equity. Net debt is calculated as finance debt, as shown in the balance sheet, plus the fair value of associated derivative financial instruments that are used to hedge foreign exchange and interest rate risks relating to finance debt for which hedge accounting is applied, less cash and cash equivalents. Net debt and gearing are non-GAAP measures. BP believes these measures provide useful information to investors. Net debt enables investors to see the economic effect of finance debt, related hedges and cash and cash equivalents in total. Gearing enables investors to see how significant net debt is relative to equity from shareholders. The derivatives are reported on the balance sheet within the headings ‘Derivative financial instruments’. All components of equity are included in the denominator of the calculation. We aim to manage the gearing within a 20-30% band and maintain a significant liquidity buffer. At 31 December 2019 , gearing was 31.1% ( 2018 30.0% ). As a result of the adoption of IFRS 16 ‘Leases’ from 1 January 2019, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt (previously also termed ‘gross debt’), net debt and gearing have been amended to be on a consistent basis with amounts presented for 2019. The relevant amount for finance lease liabilities that has been excluded from comparative information for 2018 is $667 million . The previously disclosed amounts for finance debt and net debt for 2018 were $65,799 million and $44,144 million respectively. The previously disclosed gearing for 2018 was 30.3% . $ million At 31 December 2019 2018 Finance debt 67,724 65,132 Less: fair value asset (liability) of hedges related to finance debt a (190 ) (813 ) 67,914 65,945 Less: cash and cash equivalents 22,472 22,468 Net debt 45,442 43,477 Equity 100,708 101,548 Gearing 31.1 % 30.0 % a Derivative financial instruments entered into for the purpose of managing interest rate and foreign currency exchange risk associated with net debt with a fair value liability position of $601 million ( 2018 liability of $827 million ) are not included in the calculation of net debt shown above as hedge accounting was not applied for these instruments. The movement in the year is attributable to a net cash out flow of $ 286 million ( 2018 net cash flow $ nil ) and fair value loss of $60 million ( 2018 fair value losses of $ 193 million ). Net debt including leases is shown in the table below. $ million At 31 December 2019 2018 Net debt 45,442 43,477 Lease liabilities 9,722 667 Net partner (receivable) payable for leases entered into on behalf of joint operations (158 ) — Net debt including leases 55,006 44,144 An analysis of changes in liabilities arising from financing activities is provided below. $ million Finance debt Hedge- accounted derivatives Lease liabilities Net partner payable for leases entered into on behalf of joint operations Total liabilities arising from financing activities At 1 January 2019 65,132 813 667 — 66,612 Adjustment on adoption of IFRS 16 a — — 9,233 217 9,450 Exchange adjustments (62 ) — (4 ) 8 (58 ) Net financing cash flow 1,671 2 (2,372 ) (14 ) (713 ) Fair value (gains) losses 924 (1,104 ) — — (180 ) New and remeasured leases/joint operation payables — — 2,614 82 2,696 Other movements 59 479 (416 ) (3 ) 119 At 31 December 2019 67,724 190 9,722 290 77,926 At 1 January 2018 62,574 175 656 — 63,405 Exchange adjustments (237 ) — (22 ) — (259 ) Net financing cash flow 3,540 (360 ) (35 ) — 3,145 Fair value (gains) losses (856 ) 998 — — 142 New leases — — 74 — 74 Other movements 111 — (6 ) — 105 At 31 December 2018 65,132 813 667 — 66,612 a See Note 1 for information on adoption of IFRS 16 'Leases'.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Disclosure of leases [Abstract]
Leases	Leases The group leases a number of assets as part of its activities. This primarily includes drilling rigs in the Upstream segment and retail service stations, oil depots and storage tanks in the Downstream segment as well as office accommodation and vessel charters across the group. The weighted-average remaining lease term for the total lease portfolio is around 9 years . Some leases will have payments that vary with market interest or inflation rates. Certain leases contain residual value guarantees, which may be triggered in certain circumstances such as if market values have significantly declined at the conclusion of the lease. The table below shows the timing of the undiscounted cash outflows for the lease liabilities included on the balance sheet. $ million 2019 2018 a Undiscounted lease liability cash flows due: Within 1 year 2,514 98 1 to 2 years 1,839 97 2 to 3 years 1,364 95 3 to 4 years 1,105 94 4 to 5 years 876 86 5 to 10 years 2,427 309 Over 10 years 1,174 571 11,299 1,350 Impact of discounting (1,577 ) (683 ) Lease liabilities at 31 December 9,722 667 Of which – current 2,067 44 – non-current 7,655 623 a Comparative information represents finance leases accounted for under IAS 17 The group may enter into lease arrangements a number of years before taking control of the underlying asset due to construction lead times or to secure future operational requirements. The total undiscounted amount for future commitments for leases not yet commenced as at 31 December 2019 is $5,688 million . The majority of this future commitment relates to the floating LNG vessel to service the Greater Tortue Ahmeyim project from 2022. $ million 2019 Total cash outflow for amounts included in lease liabilities a 2,709 Expense for variable payments not included in the lease liability 67 Short-term lease expense 331 Additions to right-of-use assets in the period 2,542 a The cash outflows for amounts not included in lease liabilities approximate the income statement expense disclosed above An analysis of right-of-use assets and depreciation is provided in Note 12 . An analysis of lease interest expense is provided in Note 7 .

Financial instruments and finan

Financial instruments and financial risk factors	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Financial instruments and financial risk factors	Financial instruments and financial risk factors The accounting classification of each category of financial instruments and their carrying amounts are set out below. $ million At 31 December 2019 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying amount Financial assets Other investments 18 — 1,445 — 1,445 Loans 906 63 — 969 Trade and other receivables 20 24,271 — — 24,271 Derivative financial instruments 30 — 9,984 483 10,467 Cash and cash equivalents 25 18,183 4,289 — 22,472 Financial liabilities Trade and other payables 22 (55,891 ) — — (55,891 ) Derivative financial instruments 30 — (8,122 ) (676 ) (8,798 ) Accruals (6,062 ) — — (6,062 ) Lease liabilities 28 (9,722 ) — — (9,722 ) Finance debt a 26 (67,724 ) — — (67,724 ) (96,039 ) 7,659 (193 ) (88,573 ) 29 . Financial instruments and financial risk factors – continued $ million At 31 December 2018 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying Financial assets Other investments 18 — 1,563 — 1,563 Loans 839 124 — 963 Trade and other receivables 20 24,080 — — 24,080 Derivative financial instruments 30 — 8,564 427 8,991 Cash and cash equivalents 25 20,366 2,102 — 22,468 Financial liabilities Trade and other payables 22 (56,790 ) — — (56,790 ) Derivative financial instruments 30 — (7,685 ) (1,248 ) (8,933 ) Accruals (5,201 ) — — (5,201 ) Lease liabilities 28 (667 ) — — (667 ) Finance debt a 26 (65,132 ) — — (65,132 ) (82,505 ) 4,668 (821 ) (78,658 ) a As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt and lease liabilities have been amended to be on a consistent basis with amounts presented for 2019. The previously disclosed amounts for finance debt for 2018 was $65,799 million . The fair value of finance debt is shown in Note 26 . For all other financial instruments within the scope of IFRS 9, the carrying amount is either the fair value, or approximates the fair value. Information on gains and losses on derivative financial assets and financial liabilities classified as measured at fair value through profit or loss is provided in the derivative gains and losses section of Note 30 . Fair value gains and losses related to other assets and liabilities classified as measured at fair value through profit or loss totalled a net loss of $129 million . Dividend income of $20 million (2018 $8 million ) from investments in equity instruments classified as measured at fair value through profit or loss is presented within other income - see Note 7 . Interest income and expenses arising on financial instruments are disclosed in Note 7 . Financial risk factors The group is exposed to a number of different financial risks arising from natural business exposures as well as its use of financial instruments including market risks relating to commodity prices; foreign currency exchange rates and interest rates; credit risk; and liquidity risk. The group financial risk committee (GFRC) advises the group chief financial officer (CFO) who oversees the management of these risks. The GFRC is chaired by the CFO and consists of a group of senior managers including the group treasurer and the heads of the group finance, tax and the integrated supply and trading functions. The purpose of the committee is to advise on financial risks and the appropriate financial risk governance framework for the group. The committee provides assurance to the CFO and the group chief executive (GCE), and via the GCE to the board, that the group’s financial risk-taking activity is governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with group policies and group risk appetite. The group’s trading activities in the oil, natural gas, LNG and power markets are managed within the integrated supply and trading function. Treasury holds foreign exchange and interest-rate products in the financial markets to hedge group exposures related to debt issuance; the compliance, control, and risk management processes for these activities are managed within the treasury function. All other foreign exchange and interest rate activities within financial markets are performed within the integrated supply and trading function and are also underpinned by the compliance, control and risk management infrastructure common to the activities of BP’s integrated supply and trading function. All derivative activity is carried out by specialist teams that have the appropriate skills, experience and supervision. These teams are subject to close financial and management control. The integrated supply and trading function maintains formal governance processes that provide oversight of market risk, credit risk and operational risk associated with trading activity. A policy and risk committee approves value-at-risk delegations, reviews incidents and validates risk-related policies, methodologies and procedures. A commitments committee approves the trading of new products, instruments and strategies and material commitments. In addition, the integrated supply and trading function undertakes derivative activity for risk management purposes under a control framework as described more fully below. (a) Market risk Market risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. The primary commodity price risks that the group is exposed to include oil, natural gas and power prices that could adversely affect the value of the group’s financial assets, liabilities or expected future cash flows. The group enters into derivatives in a well-established entrepreneurial trading operation. In addition, the group has developed a control framework aimed at managing the volatility inherent in certain of its natural business exposures. In accordance with the control framework the group enters into various transactions using derivatives for risk management purposes. The major components of market risk are commodity price risk, foreign currency exchange risk and interest rate risk, each of which is discussed below. 29 . Financial instruments and financial risk factors – continued (i) Commodity price risk The group’s integrated, supply and trading function is responsible for delivering value across the overall crude, oil products, gas and power supply chains. As such, it routinely enters into spot and term physical commodity contracts in addition to optimising physical storage, pipeline and transportation capacity. These activities expose the group to commodity price risk which is managed by entering into oil and natural gas swaps, options and futures. The group measures market risk exposure arising from its trading positions in liquid periods using value-at-risk techniques based on Variance/Covariance or Monte Carlo simulation models. These techniques make a statistical assessment of the market risk arising from possible future changes in market prices over a one-day holding period within a 95% confidence level. The value-at-risk measure is supplemented by stress testing and scenario analysis through simulating the financial impact of certain physical, economic and geo-political scenarios. Trading activity occurring in liquid periods is subject to value-at-risk and other limits for each trading activity and the aggregate of all trading activity. The board has delegated a limit of $100 million (2018 $100 million ) value at risk in support of this trading activity. Alternative measures are used to monitor exposures which are outside liquid periods and for which value-at-risk techniques are not appropriate. (ii) Foreign currency exchange risk Since BP has global operations, fluctuations in foreign currency exchange rates can have a significant effect on the group’s reported results and future expenditure commitments. The effects of most exchange rate fluctuations are absorbed in business operating results through changing cost competitiveness, lags in market adjustment to movements in rates and translation differences accounted for on specific transactions. For this reason, the total effect of exchange rate fluctuations is not identifiable separately in the group’s reported results. The main underlying economic currency of the group’s cash flows is the US dollar. This is because BP’s major product, oil, is priced internationally in US dollars. BP’s foreign currency exchange management policy is to limit economic and material transactional exposures arising from currency movements against the US dollar. The group co-ordinates the handling of foreign currency exchange risks centrally, by netting off naturally-occurring opposite exposures wherever possible and then managing any material residual foreign currency exchange risks. Most of the group’s borrowings are in US dollars or are hedged with respect to the US dollar. At 31 December 2019 , the total foreign currency borrowings not swapped into US dollars amounted to $219 million ( 2018 $407 million excludes leases). The group manages the net residual foreign currency exposures by constantly reviewing the foreign currency economic value at risk and aims to manage such risk to keep the 12-month foreign currency value at risk below $400 million . At no point over the past three years did the value at risk exceed the maximum risk limit. A continuous assessment is made in respect to the group’s foreign currency exposures to capture hedging requirements. During the year, hedge accounting was applied to foreign currency exposure to highly probable forecast capital expenditure commitments. The group fixes the US dollar cost of non-US dollar supplies by using currency forwards for the highly probable forecast capital expenditure; the exposures are in sterling, euro, Australian dollar and Korean won. At 31 December 2019 the most significant open contracts in place were for $106 million sterling ( 2018 $434 million sterling). Where the group enters into foreign currency exchange contracts for entrepreneurial trading purposes the activity is controlled using trading value-at-risk techniques as explained in (i) commodity price risk above. (iii) Interest rate risk BP is also exposed to interest rate risk from the possibility that changes in interest rates will affect future cash flows or the fair values of its financial instruments, principally finance debt. While the group issues debt in a variety of currencies based on market opportunities, it uses derivatives to swap the debt to a floating rate exposure, mainly to US dollar floating, but in certain defined circumstances maintains a US dollar fixed rate exposure for a proportion of debt. The proportion of floating rate debt net of interest rate swaps at 31 December 2019 was 62% of total finance debt outstanding ( 2018 73% excludes leases). The weighted average interest rate on finance debt at 31 December 2019 was 3% ( 2018 4% ) and the weighted average maturity of fixed rate debt was five years ( 2018 four years excludes leases). The group’s earnings are sensitive to changes in interest rates on the floating rate element of the group’s finance debt. If the interest rates applicable to floating rate instruments were to have changed by one percentage point on 1 January 2020 , it is estimated that the group’s finance costs for 2020 would change by approximately $419 million ( 2018 $475 million ). (b) Credit risk Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts due causing financial loss to the group and arises from cash and cash equivalents, derivative financial instruments and deposits with financial institutions and principally from credit exposures to customers relating to outstanding receivables. Credit exposure also exists in relation to guarantees issued by group companies under which the outstanding exposure incremental to that recognized on the balance sheet at 31 December 2019 was $692 million ( 2018 $696 million ) in respect of liabilities of joint ventures and associates and $523 million ( 2018 $432 million ) in respect of liabilities of other third parties. The group has a credit policy, approved by the CFO that is designed to ensure that consistent processes are in place throughout the group to measure and control credit risk. Credit risk is considered as part of the risk-reward balance of doing business. On entering into any business contract the extent to which the arrangement exposes the group to credit risk is considered. Key requirements of the policy include segregation of credit approval authorities from any sales, marketing or trading teams authorized to incur credit risk; the establishment of credit systems and processes to ensure that all counterparty exposure is rated and that all counterparty exposure and limits can be monitored and reported; and the timely identification and reporting of any non-approved credit exposures and credit losses. While each segment is responsible for its own credit risk management and reporting consistent with group policy, the treasury function holds group-wide credit risk authority and oversight responsibility for exposure to banks and financial institutions. 29 . Financial instruments and financial risk factors – continued For the purposes of financial reporting the group calculates expected loss allowances based on the maximum contractual period over which the group is exposed to credit risk. Lifetime expected credit losses are recognized for trade receivables and the credit risk associated with the significant majority of financial assets measured at amortized cost is considered to be low. Since the tenor of substantially all of the group's in-scope financial assets is less than 12 months there is no significant difference between the measurement of 12-month and lifetime expected credit losses. Expected loss allowances for financial guarantee contracts are typically lower than their fair value less, where appropriate, amortization. Financial assets are considered to be credit-impaired when there is reasonable and supportable evidence that one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. This includes observable data concerning significant financial difficulty of the counterparty; a breach of contract; concession being granted to the counterparty for economic or contractual reasons relating to the counterparty’s financial difficulty, that would not otherwise be considered; it becoming probable that the counterparty will enter bankruptcy or other financial re-organization or an active market for the financial asset disappearing because of financial difficulties. The group also applies a rebuttable presumption that an asset is credit-impaired when contractual payments are more than 30 days past due. Where the group has no reasonable expectation of recovering a financial asset in its entirety or a portion thereof, for example where all legal avenues for collection of amounts due have been exhausted, the financial asset (or relevant portion) is written off. The measurement of expected credit losses is a function of the probability of default, loss given default (i.e. the magnitude of the loss after recovery if there is a default) and the exposure at default (i.e. the asset's carrying amount). The group allocates a credit risk rating to exposures based on data that is determined to be predictive of the risk of loss, including but not limited to external ratings. Probabilities of default derived from historical, current and future-looking market data are assigned by credit risk rating with a loss given default based on historical experience and relevant market and academic research applied by exposure type. Experienced credit judgement is applied to ensure probabilities of default are reflective of the credit risk associated with the group's exposures. Credit enhancements that would reduce the group's credit losses in the event of default are reflected in the calculation when they are considered integral to the related asset. The maximum credit exposure associated with financial assets is equal to the carrying amount. The group does not aim to remove credit risk entirely but expects to experience a certain level of credit losses. As at 31 December 2019 , the group had in place credit enhancements designed to mitigate approximately $7.0 billion (2018 $7.3 billion ) of credit risk, of which substantially all relates to assets in the scope of IFRS 9's impairment requirements. Credit enhancements include standby and documentary letters of credit, bank guarantees, insurance and liens which are typically taken out with financial institutions who have investment grade credit ratings, or are liens over assets held by the counterparty of the related receivables. Reports are regularly prepared and presented to the GFRC that cover the group’s overall credit exposure and expected loss trends, exposure by segment, and overall quality of the portfolio. Management information used to monitor credit risk, which reflects the impact of credit enhancements, indicates that the risk profile of financial assets which are subject to review for impairment under IFRS 9 is as set out below. % As at 31 December 2019 2018 AAA to AA- 16 % 22 % A+ to A- 51 % 41 % BBB+ to BBB- 13 % 16 % BB+ to BB- 7 % 8 % B+ to B- 11 % 11 % CCC+ and below 2 % 2 % Movements in the impairment provision for trade and other receivables are shown in Note 21 . Financial instruments subject to offsetting, enforceable master netting arrangements and similar agreements The following table shows the amounts recognized for financial assets and liabilities which are subject to offsetting arrangements on a gross basis, and the amounts offset in the balance sheet. Amounts which cannot be offset under IFRS, but which could be settled net under the terms of master netting agreements if certain conditions arise, and collateral received or pledged, are also presented in the table to show the total net exposure of the group. $ million Gross amounts of recognized financial assets (liabilities) Amounts set off Net amounts presented on the balance sheet Related amounts not set off in the balance sheet Net amount At 31 December 2019 Master netting arrangements Cash collateral (received) pledged Derivative assets 13,191 (2,724 ) 10,467 (1,971 ) (206 ) 8,290 Derivative liabilities (11,445 ) 2,724 (8,721 ) 1,971 — (6,750 ) Trade and other receivables 10,661 (5,211 ) 5,450 (961 ) (190 ) 4,299 Trade and other payables (10,266 ) 5,211 (5,055 ) 961 — (4,094 ) At 31 December 2018 Derivative assets 11,502 (2,511 ) 8,991 (2,079 ) (299 ) 6,613 Derivative liabilities (11,337 ) 2,511 (8,826 ) 2,079 — (6,747 ) Trade and other receivables 11,296 (5,390 ) 5,906 (1,020 ) (169 ) 4,717 Trade and other payables (10,797 ) 5,390 (5,407 ) 1,020 — (4,387 ) 29 . Financial instruments and financial risk factors – continued (c) Liquidity risk Liquidity risk is the risk that suitable sources of funding for the group’s business activities may not be available. The group’s liquidity is managed centrally with operating units forecasting their cash and currency requirements to the central treasury function. Unless restricted by local regulations, generally subsidiaries pool their cash surpluses to the treasury function, which will then arrange to fund other subsidiaries’ requirements, or invest any net surplus in the market or arrange for necessary external borrowings, while managing the group’s overall net currency positions. The group benefits from open credit provided by suppliers who generally sell on five to 60-day payment terms in accordance with industry norms. BP utilizes various arrangements in order to manage its working capital and reduce volatility in cash flow. This includes discounting of receivables and, in the supply and trading business, managing inventory, collateral and supplier payment terms within a maximum of 60 days. It is normal practice in the oil and gas supply and trading business for customers and suppliers to utilise letter of credit (LC) facilities to mitigate credit and non-performance risk. Consequently, LCs facilitate active trading in a global market where credit and performance risk can be significant. In common with the industry, BP routinely provides LCs to some of its suppliers. The group has committed LC facilities totalling $12,175 million (2018 $12,175 million ), allowing LCs to be issued for a maximum 24 -month duration. There were also uncommitted secured LC facilities in place at 31 December 2019 for $4,440 million (2018 $4,190 million ), which are secured against inventories or receivables when utilized. The facilities are held with over 20 international banks. The uncommitted secured LC facilities can only be terminated by either party giving a stipulated termination notice to the other. In certain circumstances, the supplier has the option to request accelerated payment from the LC provider in order to further reduce their exposure. BP’s payments are made to the provider of the LC rather than the supplier according to the original contractual payment terms. At 31 December 2019, $4,755 million (2018 $3,705 million ) of the group’s trade payables subject to these arrangements were payable to LC providers, with no material exposure to any individual provider. Standard & Poor’s Ratings long-term credit rating for BP is A- (positive outlook) and Moody’s Investors Service rating is A1 (stable outlook). During 2019 , $8 billion (2018 $9 billion ) of long-term taxable bonds were issued with terms ranging from one to thirty years . Commercial paper is issued at competitive rates to meet short-term borrowing requirements as and when needed. As a further liquidity measure, the group continues to maintain suitable levels of cash and cash equivalents, amounting to $22.5 billion at 31 December 2019 ( 2018 $22.5 billion ), primarily invested with highly rated banks or money market funds and readily accessible at immediate and short notice. At 31 December 2019 , the group had substantial amounts of undrawn borrowing facilities available, consisting of $7,625 million (2018 $7,625 million ) of standby facilities, all of which is available to draw and repay up to the first half of 2022. These facilities are with 25 international banks, and borrowings under them would be at pre-agreed rates. On 13 th March the group entered into a committed $10,000 million credit facility which is available for two years at pre-agreed margins. The table below shows the timing of cash outflows relating to finance debt, trade and other payables and accruals. $ million 2019 2018 Trade and other payables a Accruals Finance debt Interest on finance debt Trade and other payables a Accruals Finance debt b Interest on finance debt b Within one year 43,699 5,066 10,065 2,037 43,230 4,626 9,257 2,350 1 to 2 years 1,937 261 6,726 1,641 2,232 146 6,743 1,904 2 to 3 years 1,465 146 7,949 1,409 1,662 95 6,758 1,653 3 to 4 years 1,409 181 7,022 1,172 1,484 64 8,005 1,379 4 to 5 years 1,332 108 7,554 942 1,406 89 7,009 1,101 5 to 10 years 5,863 231 23,540 1,970 6,058 113 25,187 2,250 Over 10 years 3,957 69 2,497 249 5,001 68 983 9 59,662 6,062 65,353 9,420 61,073 5,201 63,942 10,646 a 2019 includes $16,129 million ( 2018 $18,360 million ) in relation to the Gulf of Mexico oil spill, of which $14,501 million (2018 $16,058 million ) matures in greater than one year. b As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt and interest on finance debt has been amended to be on a consistent basis with amounts presented for 2019. $667 million and $683 million relating to finance lease liabilities have been excluded from the comparative information for finance debt and interest on finance debt respectively for 2018. The previously disclosed amounts for finance debt and interest on finance debt for 2018 was $64,608 million and $11,329 million respectively. The timing of cash outflows relating to lease liabilities reported on the balance sheet are now shown in Note 28 . The group manages liquidity risk associated with derivative contracts, other than derivative hedging instruments, based on the expected maturities of both derivative assets and liabilities as indicated in Note 30 . Management does not currently anticipate any cash flows that could be of a significantly different amount or could occur earlier than the expected maturity analysis provided. 29 . Financial instruments and financial risk factors – continued The table below shows the timing of cash outflows for derivative financial instruments entered into for the purpose of managing interest rate and foreign currency exchange risk associated with finance debt, whether or not hedge accounting is applied, based upon contractual payment dates. The amounts reflect the gross settlement amount where the pay leg of a derivative will be settled separately from the receive leg, as in the case of cross-currency swaps hedging non-US dollar finance debt. The swaps are with high investment-grade counterparties and therefore the settlement-day risk exposure is considered to be negligible. Not shown in the table are the gross settlement amounts (inflows) for the receive leg of derivatives that are settled separately from the pay leg, which amount to $24,787 million at 31 December 2019 ( 2018 $22,453 million ) to be received on the same day as the related cash outflows. For further information on our derivative financial instruments, see Note 30 . $ million Cash outflows for derivative financial instruments at 31 December 2019 2018 Within one year 1,678 1,700 1 to 2 years 2,384 1,678 2 to 3 years 2,838 2,384 3 to 4 years 2,906 2,838 4 to 5 years 3,321 2,906 5 to 10 years 10,633 11,475 Over 10 years 2,224 724 25,984 23,705

Derivative financial instrument

Derivative financial instruments	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Derivative financial instruments	Derivative financial instruments In the normal course of business the group enters into derivative financial instruments (derivatives) to manage its normal business exposures in relation to commodity prices, foreign currency exchange rates and interest rates, including management of the balance between floating rate and fixed rate debt, consistent with risk management policies and objectives. An outline of the group’s financial risks and the objectives and policies pursued in relation to those risks is set out in Note 29 . Additionally, the group has a well-established entrepreneurial trading operation that is undertaken in conjunction with these activities using a similar range of contracts. For information on significant estimates and judgements made in relation to the valuation of derivatives see Derivative financial instruments within Note 1 . The fair values of derivative financial instruments at 31 December are set out below. Exchange traded derivatives are valued using closing prices provided by the exchange as at the balance sheet date. These derivatives are categorized within level 1 of the fair value hierarchy. Exchange traded derivatives are typically considered settled through the (normally daily) payment or receipt of variation margin. Over-the-counter (OTC) financial swaps and physical commodity sale and purchase contracts are generally valued using readily available information in the public markets and quotations provided by brokers and price index developers. These quotes are corroborated with market data and are categorized within level 2 of the fair value hierarchy. In certain less liquid markets, or for longer-term contracts, forward prices are not as readily available. In these circumstances, OTC financial swaps and physical commodity sale and purchase contracts are valued using internally developed methodologies that consider historical relationships between various commodities, and that result in management’s best estimate of fair value. These contracts are categorized within level 3 of the fair value hierarchy. 30 . Derivative financial instruments – continued Financial OTC and physical commodity options are valued using industry standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and contractual prices for the underlying instruments, as well as other relevant economic factors. The degree to which these inputs are observable in the forward markets determines whether the option is categorized within level 2 or level 3 of the fair value hierarchy. $ million 2019 2018 Fair value asset Fair value liability Fair value asset Fair value liability Derivatives held for trading Currency derivatives 81 (744 ) 69 (898 ) Oil price derivatives 1,918 (1,478 ) 2,361 (1,849 ) Natural gas price derivatives 6,569 (4,871 ) 4,787 (3,888 ) Power price derivatives 1,306 (952 ) 1,240 (943 ) Other derivatives 110 — 107 — 9,984 (8,045 ) 8,564 (7,578 ) Embedded derivatives Other embedded derivatives — (77 ) — (107 ) — (77 ) — (107 ) Cash flow hedges Currency forwards 1 (4 ) 5 (14 ) Gas price futures — — 2 — 1 (4 ) 7 (14 ) Fair value hedges Currency swaps 344 (637 ) 158 (789 ) Interest rate swaps 138 (35 ) 262 (445 ) 482 (672 ) 420 (1,234 ) 10,467 (8,798 ) 8,991 (8,933 ) Of which – current 4,153 (3,261 ) 3,846 (3,308 ) – non-current 6,314 (5,537 ) 5,145 (5,625 ) Derivatives held for trading The group maintains active trading positions in a variety of derivatives. The contracts may be entered into for risk management purposes, to satisfy supply requirements or for entrepreneurial trading. Certain contracts are classified as held for trading, regardless of their original business objective, and are recognized at fair value with changes in fair value recognized in the income statement. Trading activities are undertaken by using a range of contract types in combination to create incremental gains by arbitraging prices between markets, locations and time periods. The net of these exposures is monitored using market value-at-risk techniques as described in Note 29 . The following tables show further information on the fair value of derivatives and other financial instruments held for trading purposes. Derivative assets held for trading have the following fair values and maturities. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives 48 23 9 1 — — 81 Oil price derivatives 1,619 114 76 53 45 11 1,918 Natural gas price derivatives 1,889 824 615 489 433 2,319 6,569 Power price derivatives 556 269 146 94 67 174 1,306 Other derivatives 33 — — 77 — — 110 4,145 1,230 846 714 545 2,504 9,984 $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives 48 12 9 — — — 69 Oil price derivatives 1,916 363 53 25 4 — 2,361 Natural gas price derivatives 1,333 708 542 452 352 1,400 4,787 Power price derivatives 540 276 158 79 55 132 1,240 Other derivatives — — — — 107 — 107 3,837 1,359 762 556 518 1,532 8,564 30 . Derivative financial instruments – continued Derivative liabilities held for trading have the following fair values and maturities. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives (166 ) (283 ) (201 ) (1 ) (23 ) (70 ) (744 ) Oil price derivatives (1,405 ) (56 ) (14 ) (2 ) (1 ) — (1,478 ) Natural gas price derivatives (1,070 ) (522 ) (446 ) (399 ) (363 ) (2,071 ) (4,871 ) Power price derivatives (395 ) (165 ) (104 ) (76 ) (51 ) (161 ) (952 ) (3,036 ) (1,026 ) (765 ) (478 ) (438 ) (2,302 ) (8,045 ) $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives (299 ) (71 ) (256 ) (171 ) (3 ) (98 ) (898 ) Oil price derivatives (1,560 ) (232 ) (43 ) (12 ) (2 ) — (1,849 ) Natural gas price derivatives (1,030 ) (557 ) (391 ) (338 ) (285 ) (1,287 ) (3,888 ) Power price derivatives (401 ) (213 ) (95 ) (54 ) (47 ) (133 ) (943 ) (3,290 ) (1,073 ) (785 ) (575 ) (337 ) (1,518 ) (7,578 ) The following table shows the fair value of derivative assets and derivative liabilities held for trading, analysed by maturity period and by methodology of fair value estimation. This information is presented on a gross basis, that is, before netting by counterparty. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Fair value of derivative assets Level 1 63 6 2 — 2 1 74 Level 2 5,344 1,014 439 210 120 42 7,169 Level 3 779 501 485 540 452 2,708 5,465 6,186 1,521 926 750 574 2,751 12,708 Less: netting by counterparty (2,041 ) (291 ) (80 ) (36 ) (29 ) (247 ) (2,724 ) 4,145 1,230 846 714 545 2,504 9,984 Fair value of derivative liabilities Level 1 (49 ) (8 ) (4 ) (1 ) (2 ) (1 ) (65 ) Level 2 (4,522 ) (932 ) (458 ) (146 ) (113 ) (101 ) (6,272 ) Level 3 (506 ) (377 ) (383 ) (367 ) (352 ) (2,447 ) (4,432 ) (5,077 ) (1,317 ) (845 ) (514 ) (467 ) (2,549 ) (10,769 ) Less: netting by counterparty 2,041 291 80 36 29 247 2,724 (3,036 ) (1,026 ) (765 ) (478 ) (438 ) (2,302 ) (8,045 ) Net fair value 1,109 204 81 236 107 202 1,939 $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Fair value of derivative assets Level 1 111 14 3 — — — 128 Level 2 5,000 1,362 504 262 120 72 7,320 Level 3 491 385 353 331 427 1,640 3,627 5,602 1,761 860 593 547 1,712 11,075 Less: netting by counterparty (1,765 ) (402 ) (98 ) (37 ) (29 ) (180 ) (2,511 ) 3,837 1,359 762 556 518 1,532 8,564 Fair value of derivative liabilities Level 1 (156 ) (11 ) (2 ) (2 ) — — (171 ) Level 2 (4,562 ) (1,161 ) (576 ) (308 ) (67 ) (163 ) (6,837 ) Level 3 (337 ) (303 ) (305 ) (302 ) (299 ) (1,535 ) (3,081 ) (5,055 ) (1,475 ) (883 ) (612 ) (366 ) (1,698 ) (10,089 ) Less: netting by counterparty 1,765 402 98 37 29 180 2,511 (3,290 ) (1,073 ) (785 ) (575 ) (337 ) (1,518 ) (7,578 ) Net fair value 547 286 (23 ) (19 ) 181 14 986 30 . Derivative financial instruments – continued Level 3 derivatives The following table shows the changes during the year in the net fair value of derivatives held for trading purposes within level 3 of the fair value hierarchy. $ million Oil price Natural gas price Power price Other Total Fair value contracts at 1 January 2019 23 (13 ) (148 ) 107 (31 ) Gains (losses) recognized in the income statement 128 82 244 2 456 Gains (losses) recognized in other comprehensive income — — (18 ) — (18 ) Settlements (79 ) (21 ) (179 ) — (279 ) Transfers out of level 3 (1 ) (20 ) (24 ) 1 (44 ) Net fair value of contracts at 31 December 2019 71 28 (125 ) 110 84 Deferred day-one gains (losses) 949 Derivative asset (liability) 1,033 $ million Oil price Natural gas price Power price Other Total Fair value contracts at 1 January 2018 67 65 (226 ) 115 21 Gains (losses) recognized in the income statement 58 (26 ) 209 (8 ) 233 Settlements (107 ) (32 ) (97 ) — (236 ) Transfers out of level 3 5 (20 ) (34 ) — (49 ) Net fair value of contracts at 31 December 2018 23 (13 ) (148 ) 107 (31 ) Deferred day-one gains (losses) 577 Derivative asset (liability) 546 The amount recognized in the income statement for the year relating to level 3 held-for-trading derivatives still held at 31 December 2019 was a $250-million gain ( 2018 $123-million gain related to derivatives still held at 31 December 2018 ). Derivative gains and losses The group enters into derivative contracts including futures, options, swaps and certain forward sales and forward purchases contracts, relating to both currency and commodity trading activities. Gains or losses arise on contracts entered into for risk management purposes, optimization activity and entrepreneurial trading. They also arise on certain contracts that are for normal procurement or sales activity for the group but that are required to be fair valued under accounting standards. These gains and losses are included within sales and other operating revenues in the income statement. Also included within this line item are gains and losses on inventory held for trading purposes. The total amount relating to all these items was a net gain of $2,153 million ( 2018 $2,504 million net gain and 2017 $1,983 million net gain ). This number does not include gains and losses on realized physical derivative contracts that have been reflected gross in the income statement within sales and purchases or the change in value of transportation and storage contracts which are not recognized under IFRS, but does include the associated financially settled contracts. The net amounts for actual gains and losses relating to these derivative contracts and all related items therefore differ significantly from the amounts disclosed above. The group also enters into derivative contracts relating to foreign currency risk management activities. Gains and losses on these contracts are included within production and manufacturing expenses in the income statement. The change in the unrealized value of these contracts was a net gain of $160 million (2018 $351 million net loss and 2017 $1,420 million net gain), however the gains and losses in each year are largely offset by opposing net foreign exchange differences on retranslation of the associated non-US dollar debt. The net amounts for actual gains and losses relating to these derivative contracts and all related items therefore differ significantly from the amounts disclosed above. Cash flow hedges (i) Foreign currency risk of highly probable forecast capital expenditure At 31 December 2019 , the group held currency forwards designated as hedging instruments in cash flow hedge relationships of highly probable forecast non-US dollar capital expenditure. Note 29 outlines the group’s approach to foreign currency exchange risk management. When the highly probable forecast capital expenditure designated as a hedged item occurs, a non-financial asset is recognized and is presented within the fixed asset section of the balance sheet. The group claims hedge accounting only for the spot value of the currency exposure in line with the strategy to fix the volatility in the spot exchange rate element. The fair value on the instrument attributable to forward points and foreign currency basis spreads is taken immediately to the income statement. The group applies hedge accounting where there is an economic relationship between the hedged item and hedging instrument. The existence of an economic relationship is determined at inception and prospectively by comparing the critical terms of the hedging instrument and those of the hedged item. The group enters into hedging derivatives that match the currency and notional of the hedged items on a 1:1 hedge ratio basis. The hedge ratio is determined by comparing the notional amount of the derivative with the notional designated on the forecast transaction. The group determines the extent to which it hedges highly probable forecast capital expenditures on a project by project basis. The group has identified the following sources of ineffectiveness, which are not expected to be material: • counterparty's credit risk, the group mitigates counterparty credit risk by entering into derivative transactions with high credit quality counterparties; and • differences in settlement timing between the derivative and hedged items. The latter impacts the discount factor used in the calculation of the hedge ineffectiveness. The group mitigates differences in timing between the derivatives and hedged items by applying a rolling strategy and by hedging currency pairs from stable economies (i.e. sterling/US dollar, Euro/US dollar, Korean won/US dollar). The group's cash flow hedge designations are highly effective as the sources of ineffectiveness identified are expected to result in minimal hedge ineffectiveness. The group has not designated any net positions as hedged items in cash flow hedges of foreign currency risk. 30 . Derivative financial instruments – continued (ii) Commodity price risk of highly probable forecast sales During the period the group held Henry Hub NYMEX futures designated as hedging instruments in cash flow hedge relationships of certain highly probable forecast future sales. At 31 December 2019, these hedging instruments and highly probably forecast sales had been realised and the corresponding amounts recognised in the cash flow hedge reserve were released to the income statement during the period. The group is exposed to the variability in the gas price, but only applied hedge accounting to the risk of Henry Hub price movements for a percentage of future gas sales from its BPX Energy business (previously known as US Lower 48 business). The group applied hedge accounting in relation to these highly probable future sales where there was an economic relationship between the hedged item and hedging instrument. The existence of an economic relationship was determined at inception and prospectively by comparing the critical terms of the hedging instrument and those of the hedged item. The group entered into hedging derivatives that matched the notional amounts of the hedged items on a 1:1 hedge ratio basis. The hedge ratio was determined by comparing the notional amount of the derivative with the notional amount designated on the forecast transaction. The hedge was highly effective due to the price index of the hedging instruments matching the price index of the hedged item. The group did not designate any net positions as hedged items in cash flow hedges of commodity price risk. The tables below summarize the change in the fair value of hedging instruments and the hedged item used to calculate ineffectiveness in the period. $ million Change in fair value of hedging instrument used to calculate ineffectiveness Change in fair value of hedged item used to calculate ineffectiveness Hedge ineffectiveness recognized in profit or (loss) At 31 December 2019 Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure (1 ) 1 — Commodity price risk Highly probable forecast sales (100 ) 100 — At 31 December 2018 Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure (5 ) 5 — Commodity price risk Highly probable forecast sales (126 ) 126 — The tables below summarize the carrying amount and nominal amount of the derivatives designated as hedging instruments in cash flow hedge relationships. Carrying amount of hedging instrument Nominal amounts of hedging instruments Assets Liabilities At 31 December 2019 $ million $ million $ million mmBtu Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure 1 (4 ) 150 At 31 December 2018 Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure 5 (14 ) 386 Commodity price risk Highly probable forecast sales 2 — 145 All hedging instruments are presented within derivative financial instruments on the group balance sheet. Of the nominal amount of hedging instruments at 31 December relating to highly probably forecast capital expenditure $150 million (2018 $304 million ) matures within 12 months and $nil (2018 $82 million ) within one to two years. All of the hedging instruments relating to highly probable forecast sales at 31 December 2018 matured in 2019. 30 . Derivative financial instruments – continued The table below summarizes the weighted average exchange rates and the weighted average sales price in relation to the derivatives designated as hedging instruments in cash flow hedge relationships at 31 December. Weighted average price/rate 2019 2018 At 31 December Forecast capital expenditure Forecast capital expenditure Forecast sales Sterling/US dollar 1.35 1.34 Euro/US dollar 1.11 1.14 Australian dollar/US dollar — 0.72 Norwegian krone/US dollar — 8.67 Korean won/US dollar 1,115.66 1,107.90 Henry Hub $/mmBtu 2.86 Fair value hedges At 31 December 2019 , the group held interest rate and cross-currency interest rate swap contracts as fair value hedges of the interest rate risk and foreign currency risk arising from group fixed rate debt issuances. The interest rate swaps are used to convert US dollar denominated fixed rate borrowings into floating rate debt. The cross-currency interest rate swaps are used to convert sterling, euro, Swiss franc, Canadian dollar and Norwegian krone denominated fixed rate borrowings into US dollar floating rate debt. The group manages all risks derived from debt issuance, such as credit risk, however, the group applies hedge accounting only to certain components of interest rate and foreign currency risk in order to minimize hedge ineffectiveness. Note 29 outlines the group’s approach to interest rate and foreign currency exchange risk management. The interest rate and foreign currency exposures are identified and hedged on an instrument-by-instrument basis. For interest rate exposures, the group designates as a fair value hedge the benchmark interest rate component only. This is an observable and reliably measurable component of interest rate risk. For foreign currency exposures, the group excludes from the designation the foreign currency basis spread component implicit in the cross-currency interest rate swaps. This is separately calculated at hedge designation, is recognized in other comprehensive income over the life of the hedge and amortized to the income statement on a straight-line basis, in accordance with the group’s policy on costs of hedging. The group applies hedge accounting where there is an economic relationship between the hedged item and the hedging instrument. The existence of an economic relationship is determined initially by comparing the critical terms of the hedging instrument and those of the hedged item and it is prospectively assessed using linear regression analysis. The group issues fixed rate debt and enters into interest rate and cross-currency interest rate swaps with critical terms that match those of the debt and on a 1:1 hedge ratio basis. The hedge ratio is determined by comparing the notional amount of the derivative with the notional amount of the debt. The hedge relationship is designated for the full term and notional value of the debt. Both the hedging instrument and the hedged item are expected to be held to maturity. The group has identified the following sources of ineffectiveness, which are not expected to be material: • derivative counterparty’s credit risk which is not offset by the hedged item. This risk is mitigated by entering into derivative transactions only with high credit quality counterparties; and • sensitivity to interest rate between the hedged item and the derivatives. This is driven by differences in payment frequencies between the instrument and the bond. The tables below summarize the change in the fair value of hedging instruments and the hedged item used to calculate ineffectiveness in the period. The signage convention for changes in fair value presented in this table is consistent with that presented in Note 27. $ million Change in fair value of hedging instrument used to calculate ineffectiveness Change in fair value of hedged item used to calculate ineffectiveness Hedge ineffectiveness recognized in profit or (loss) At 31 December 2019 Fair value hedges Interest rate risk on finance debt (764 ) 737 27 Interest rate and foreign currency risk on finance debt (336 ) 286 50 At 31 December 2018 Fair value hedges Interest rate risk on finance debt (70 ) 69 (1 ) Interest rate and foreign currency risk on finance debt 812 (809 ) 3 30 . Derivative financial instruments – continued The tables below summarize the carrying amount of the derivatives designated as hedging instruments in fair value hedge relationships at 31 December. $ million Carrying amount of hedging instrument Nominal amounts of hedging instruments At 31 December 2019 Assets Liabilities Fair value hedges Interest rate risk on finance debt 138 (35 ) 13,442 Interest rate and foreign currency risk on finance debt 344 (637 ) 21,296 At 31 December 2018 Fair value hedges Interest rate risk on finance debt 262 (445 ) 24,513 Interest rate and foreign currency risk on finance debt 158 (789 ) 16,580 All hedging instruments are presented within derivative financial instruments on the group balance sheet. Ineffectiveness arising on fair value hedges is included within the production and manufacturing expenses section of the income statement. The tables below summarize the profile by tenor of the nominal amount of the derivatives designated as hedging instruments in fair value hedge relationships at 31 December. The weighted average floating interest rate of these interest rate swaps and cross-currency interest rate swaps was 2.36% (2018 3.04%) and 3.27% (2018 4.07%) respectively. $ million At 31 December 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Over 10 years Total Fair value hedges Interest rate risk on finance debt 3,000 2,576 4,039 1,200 206 2,421 — 13,442 Interest rate and foreign currency risk on finance debt 882 672 1,400 2,777 3,109 10,216 2,240 21,296 At 31 December 2018 Fair value hedges Interest rate risk on finance debt 2,694 2,324 2,597 4,923 1,700 10,275 — 24,513 Interest rate and foreign currency risk on finance debt — 1,245 1,167 707 2,921 10,254 286 16,580 The tables below summarize the carrying amount, and the accumulated fair value adjustments included within the carrying amount, of the hedged items designated in fair value hedge relationships at 31 December. $ million Carrying amount of hedged item Accumulated fair value adjustment included in the carrying amount of hedged items At 31 December 2019 Assets Liabilities Assets Liabilities Discontinued hedges Fair value hedges Interest rate risk on finance debt — (13,441 ) — (100 ) (714 ) Interest rate and foreign currency risk on finance debt — (21,240 ) — (525 ) — At 31 December 2018 Fair value hedges Interest rate risk on finance debt — (24,747 ) 175 — (360 ) Interest rate and foreign currency risk on finance debt — (16,883 ) — (62 ) — The hedged item for all fair value hedges is presented within finance debt on the group balance sheet. 30 . Derivative financial instruments – continued Movement in reserves related to hedge accounting The table below provides a reconciliation of the cash flow hedge and costs of hedging reserves on a pre-tax basis by risk category. The signage convention of this table is consistent with that presented in Note 32 . $ million Cash flow hedge reserve Costs of hedging reserve Highly probable forecast capital expenditure Highly probable forecast sales Purchase of equity a Interest rate and foreign currency risk on finance debt Total At 1 January 2019 (21 ) (6 ) (651 ) (223 ) (901 ) Recognized in other comprehensive income Cash flow hedges marked to market (3 ) (100 ) — — (103 ) Cash flow hedges reclassified to the income statement - hedged item affected profit or loss — 106 — — 106 Costs of hedging marked to market — — — (4 ) (4 ) Costs of hedging reclassified to the income statement — — — 57 57 (3 ) 6 — 53 56 Cash flow hedges transferred to the balance sheet 23 — — — 23 At 31 December 2019 (1 ) — (651 ) (170 ) (822 ) $ million Cash flow hedge reserve Costs of hedging reserve Highly probable forecast capital expenditure Highly probable forecast sales Purchase of equity a Interest rate and foreign currency risk on finance debt Total At 31 December 2017 (10 ) — (651 ) — (661 ) Adjustment on adoption of IFRS 9 — — — (37 ) (37 ) At 1 January 2018 (10 ) — (651 ) (37 ) (698 ) Recognized in other comprehensive income Cash flow hedges marked to market (37 ) (126 ) — — (163 ) Cash flow hedges reclassified to the income statement - hedged item affected profit or loss — 120 — — 120 Costs of hedging marked to market — — — (244 ) (244 ) Costs of hedging reclassified to the income statement — — — 58 58 (37 ) (6 ) — (186 ) (229 ) Cash flow hedges transferred to the balance sheet 26 — — — 26 At 31 December 2018 (21 ) (6 ) (651 ) (223 ) (901 ) a See Note 32 for further information on the cash flow hedge reserve relating to the purchase of equity Substantially all of the cash flow hedge reserve balances and all of the amounts reclassified into profit or loss during the year relate to continuing hedge relationships. Amounts deferred in the cash flow hedge reserve that have been reclassified to profit or loss are presented in sales and other operating revenues in the income statement. Costs of hedging relates to the foreign currency basis spreads of hedging instruments used to hedge the group's interest rate and foreign currency risk on debt which is a time-period related item.

Called-up share capital

Called-up share capital	12 Months Ended
	Dec. 31, 2019
Share Capital, Reserves And Other Equity Interest [Abstract]
Called-up share capital	Called-up share capital The allotted, called up and fully paid share capital at 31 December was as follows: 2019 2018 2017 Issued Shares thousand $ million Shares thousand $ million Shares thousand $ million 8% cumulative first preference shares of £1 each a 7,233 12 7,233 12 7,233 12 9% cumulative second preference shares of £1 each a 5,473 9 5,473 9 5,473 9 21 21 21 Ordinary shares of 25 cents each At 1 January 21,525,464 5,381 21,288,193 5,322 21,049,696 5,263 Issue of new shares for the scrip dividend programme 208,927 52 195,305 49 289,789 72 Issue of new shares for employee share-based payment plans 37,400 9 92,168 23 — — Issue of new shares – other — — — — — — Repurchase of ordinary share capital (235,951 ) (59 ) (50,202 ) (13 ) (51,292 ) (13 ) At 31 December 21,535,840 5,383 21,525,464 5,381 21,288,193 5,322 5,404 5,402 5,343 a The nominal amount of 8% cumulative first preference shares and 9% cumulative second preference shares that can be in issue at any time shall not exceed £10,000,000 for each class of preference shares. Voting on substantive resolutions tabled at a general meeting is on a poll. On a poll, shareholders present in person or by proxy have two votes for every £5 in nominal amount of the first and second preference shares held and one vote for every ordinary share held. On a show-of-hands vote on other resolutions (procedural matters) at a general meeting, shareholders present in person or by proxy have one vote each. In the event of the winding up of the company, preference shareholders would be entitled to a sum equal to the capital paid up on the preference shares, plus an amount in respect of accrued and unpaid dividends and a premium equal to the higher of (i) 10% of the capital paid up on the preference shares and (ii) the excess of the average market price of such shares on the London Stock Exchange during the previous six months over par value. During 2019 the company repurchased 236 million ordinary shares for a total consideration of $1,511 million , including transaction costs of $8 million , as part of the share repurchase programme announced on 31 October 2017. All shares purchased were for cancellation. The repurchased shares represented 1.1% of ordinary share capital. A further 120 million of shares have been repurchased in January 2020 at a total cost of $776 million . The number of shares in issue is reduced when shares are repurchased. Treasury shares a 2019 2018 2017 Shares thousand Nominal value $ million Shares thousand Nominal value $ million Shares thousand Nominal value $ million At 1 January 1,426,265 356 1,482,072 370 1,614,657 403 Purchases for settlement of employee share plans 1,118 — 757 — 4,423 1 Issue of new shares for employee share-based payment plans 37,400 9 92,168 23 — — Shares re-issued for employee share-based payment plans (167,927 ) (42 ) (148,732 ) (37 ) (137,008 ) (34 ) At 31 December 1,296,856 323 1,426,265 356 1,482,072 370 Of which – shares held in treasury by BP 1,163,077 290 1,264,732 316 1,472,343 368 – shares held in ESOP trusts 133,707 33 161,518 40 9,705 2 – shares held by BP’s US share plan administrator b 72 — 15 — 24 — a See Note 32 for definition of treasury shares. b Held in the form of ADSs to meet the requirements of employee share-based payment plans in the US. For each year presented, the balance at 1 January represents the maximum number of shares held in treasury by BP during the year, representing 5.9% ( 2018 6.9% and 2017 7.5% ) of the called-up ordinary share capital of the company. During 2019 , the movement in shares held in treasury by BP represented less than 0.5% ( 2018 less than 1.0% and 2017 less than 0.5% ) of the ordinary share capital of the company. Capital and reserves Share capital Share premium account Capital redemption reserve Merger reserve Total share capital and capital reserves At 31 December 2018 5,402 12,305 1,439 27,206 46,352 Adjustment on adoption of IFRS 16, net of tax — — — — — At 1 January 2019 5,402 12,305 1,439 27,206 46,352 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Cash flow hedges and costs of hedging (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Cash flow hedges that will subsequently be transferred to the balance sheet — — — — — Total comprehensive income — — — — — Dividends 52 (52 ) — — — Cash flow hedges transferred to the balance sheet, net of tax — — — — — Repurchases of ordinary share capital (59 ) — 59 — — Share-based payments, net of tax b 9 164 — — 173 Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax c — — — — — At 31 December 2019 5,404 12,417 1,498 27,206 46,525 At 31 December 2017 5,343 12,147 1,426 27,206 46,122 Adjustment on adoption of IFRS 9, net of tax — — — — — At 1 January 2018 5,343 12,147 1,426 27,206 46,122 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Cash flow hedges and costs of hedging (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Cash flow hedges that will subsequently be transferred to the balance sheet — — — — — Total comprehensive income — — — — — Dividends 49 (49 ) — — — Cash flow hedges transferred to the balance sheet, net of tax — — — — — Repurchases of ordinary share capital (13 ) — 13 — — Share-based payments, net of tax b 23 207 — — 230 Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax — — — — — At 31 December 2018 5,402 12,305 1,439 27,206 46,352 At 1 January 2017 5,284 12,219 1,413 27,206 46,122 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Available-for-sale investments (including reclassifications) — — — — — Cash flow hedges (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Total comprehensive income — — — — — Dividends 72 (72 ) — — — Repurchases of ordinary share capital (13 ) — 13 — — Share-based payments, net of tax b — — — — — Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax d — — — — — At 31 December 2017 5,343 12,147 1,426 27,206 46,122 a Principally foreign exchange effects relating to the Russian rouble. b Movements in treasury shares relate to employee share-based payment plans. 32 . Capital and reserves – continued $ million Treasury shares Foreign currency translation reserve Available- for-sale investments Cash flow hedges Costs of hedging Total fair value reserves Profit and loss account BP shareholders’ equity Non- controlling interests Total equity (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,748 99,444 2,104 101,548 — — — — — — (329 ) (329 ) (1 ) (330 ) (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,419 99,115 2,103 101,218 — — — — — — 4,026 4,026 164 4,190 — 2,407 — — — — — 2,407 9 2,416 — — — 5 50 55 — 55 — 55 — — — — — — 82 82 — 82 — — — — — — (64 ) (64 ) — (64 ) — — — — — — 171 171 — 171 — — — (3 ) — (3 ) — (3 ) — (3 ) — 2,407 — 2 50 52 4,215 6,674 173 6,847 — — — — — — (6,929 ) (6,929 ) (213 ) (7,142 ) — — — 23 — 23 — 23 — 23 — — — — — — (1,511 ) (1,511 ) — (1,511 ) 1,355 — — — — — (809 ) 719 — 719 — — — — — — 5 5 — 5 — — — — — — 316 316 233 549 (14,412 ) (6,495 ) — (752 ) (160 ) (912 ) 73,706 98,412 2,296 100,708 (16,958 ) (5,156 ) 17 (760 ) — (743 ) 75,226 98,491 1,913 100,404 — — (17 ) — (37 ) (54 ) (126 ) (180 ) — (180 ) (16,958 ) (5,156 ) — (760 ) (37 ) (797 ) 75,100 98,311 1,913 100,224 — — — — — — 9,383 9,383 195 9,578 — (3,746 ) — — — — — (3,746 ) (41 ) (3,787 ) — — — (6 ) (173 ) (179 ) — (179 ) — (179 ) — — — — — — 417 417 — 417 — — — — — — 7 7 — 7 — — — — — — 1,599 1,599 — 1,599 — — — (37 ) — (37 ) — (37 ) — (37 ) — (3,746 ) — (43 ) (173 ) (216 ) 11,406 7,444 154 7,598 — — — — — — (6,699 ) (6,699 ) (170 ) (6,869 ) — — — 26 — 26 — 26 — 26 — — — — — — (355 ) (355 ) — (355 ) 1,191 — — — — — (718 ) 703 — 703 — — — — — — 14 14 — 14 — — — — — — — — 207 207 (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,748 99,444 2,104 101,548 (18,443 ) (6,878 ) 3 (1,156 ) — (1,153 ) 75,638 95,286 1,557 96,843 — — — — — — 3,389 3,389 79 3,468 — 1,722 — — — — (3 ) 1,719 52 1,771 — — 14 — — 14 — 14 — 14 — — — 396 — 396 — 396 — 396 — — — — — — 564 564 — 564 — — — — — — (72 ) (72 ) — (72 ) — — — — — — 2,343 2,343 — 2,343 — 1,722 14 396 — 410 6,221 8,353 131 8,484 — — — — — — (6,153 ) (6,153 ) (141 ) (6,294 ) — — — — — — (343 ) (343 ) — (343 ) 1,485 — — — — — (798 ) 687 — 687 — — — — — — 215 215 — 215 — — — — — — 446 446 366 812 (16,958 ) (5,156 ) 17 (760 ) — (743 ) 75,226 98,491 1,913 100,404 c Principally relates to the sale of a 49% interest in BP's retail property portfolio in Australia. d Principally relates to the initial public offering of common units in BP Midstream Partners LP for which net proceeds of $811 million were received. 32 . Capital and reserves – continued Share capital The balance on the share capital account represents the aggregate nominal value of all ordinary and preference shares in issue, including treasury shares. Share premium account The balance on the share premium account represents the amounts received in excess of the nominal value of the ordinary and preference shares. Capital redemption reserve The balance on the capital redemption reserve represents the aggregate nominal value of all the ordinary shares repurchased and cancelled. Merger reserve The balance on the merger reserve represents the fair value of the consideration given in excess of the nominal value of the ordinary shares issued in an acquisition made by the issue of shares. Treasury shares Treasury shares represent BP shares repurchased and available for specific and limited purposes. For accounting purposes shares held in Employee Share Ownership Plans (ESOPs) and BP’s US share plan administrator to meet the future requirements of the employee share-based payment plans are treated in the same manner as treasury shares and are, therefore, included in the financial statements as treasury shares. The ESOPs are funded by the group and have waived their rights to dividends in respect of such shares held for future awards. Until such time as the shares held by the ESOPs vest unconditionally to employees, the amount paid for those shares is shown as a reduction in shareholders’ equity. Assets and liabilities of the ESOPs are recognized as assets and liabilities of the group. Foreign currency translation reserve The foreign currency translation reserve records exchange differences arising from the translation of the financial statements of foreign operations. Upon disposal of foreign operations, the related accumulated exchange differences are reclassified to the income statement. Available-for-sale investments This reserve recorded the changes in fair value of investments classified as available-for-sale under IAS 39 except for impairment losses, foreign exchange gains or losses, or changes arising from revised estimates of future cash flows. On adoption of IFRS 9 the balance in this reserve was transferred to the profit and loss account reserve. Under the new standard the group recognizes fair value gains and losses on these investments in profit or loss. Cash flow hedges This reserve records the portion of the gain or loss on a hedging instrument in a cash flow hedge that is determined to be an effective hedge. It includes $651 million relating to the acquisition of an 18.5% interest in Rosneft in 2013 which will only be reclassified to the income statement if the investment in Rosneft is either sold or impaired. For further information on the accounting for cash flow hedges see Note 1 - Derivative financial instruments and hedging activities. Costs of hedging This reserve records the change in fair value of the foreign currency basis spread of financial instruments to which cost of hedge accounting has been applied. The accumulated amount relates to time-period related hedged items and is amortized to profit or loss over the term of the hedging relationship. Prior to the group’s adoption of IFRS 9 changes in the fair value of such foreign currency basis spreads were recognized in profit or loss. On adoption of the new standard a transfer from the profit and loss account reserve to the costs of hedging reserve was made in order to reflect the opening reserves position for relevant hedging instruments existing on transition. For further information on the accounting for costs of hedging see Note 1 - Derivative financial instruments and hedging activities. Profit and loss account The balance held on this reserve is the accumulated retained profits of the group. 32 . Capital and reserves – continued The pre-tax amounts of each component of other comprehensive income, and the related amounts of tax, are shown in the table below. $ million 2019 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) 2,418 (2 ) 2,416 Cash flow hedges (including reclassifications) 6 (1 ) 5 Costs of hedging (including reclassifications) 53 (3 ) 50 Share of items relating to equity-accounted entities, net of tax 82 — 82 Other — (64 ) (64 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 328 (157 ) 171 Cash flow hedges that will subsequently be transferred to the balance sheet (3 ) — (3 ) Other comprehensive income 2,884 (227 ) 2,657 $ million 2018 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) (3,771 ) (16 ) (3,787 ) Cash flow hedges (including reclassifications) (6 ) — (6 ) Costs of hedging (including reclassifications) (186 ) 13 (173 ) Share of items relating to equity-accounted entities, net of tax 417 — 417 Other — 7 7 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 2,317 (718 ) 1,599 Cash flow hedges that will subsequently be transferred to the balance sheet (37 ) — (37 ) Other comprehensive income (1,266 ) (714 ) (1,980 ) $ million 2017 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) 1,866 (95 ) 1,771 Available-for-sale investments (including reclassifications) 14 — 14 Cash flow hedges (including reclassifications) 425 (29 ) 396 Share of items relating to equity-accounted entities, net of tax 564 — 564 Other — (72 ) (72 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 3,646 (1,303 ) 2,343 Other comprehensive income 6,515 (1,499 ) 5,016

Capital and reserves

Capital and reserves	12 Months Ended
	Dec. 31, 2019
Share Capital, Reserves And Other Equity Interest [Abstract]
Capital and reserves	Called-up share capital The allotted, called up and fully paid share capital at 31 December was as follows: 2019 2018 2017 Issued Shares thousand $ million Shares thousand $ million Shares thousand $ million 8% cumulative first preference shares of £1 each a 7,233 12 7,233 12 7,233 12 9% cumulative second preference shares of £1 each a 5,473 9 5,473 9 5,473 9 21 21 21 Ordinary shares of 25 cents each At 1 January 21,525,464 5,381 21,288,193 5,322 21,049,696 5,263 Issue of new shares for the scrip dividend programme 208,927 52 195,305 49 289,789 72 Issue of new shares for employee share-based payment plans 37,400 9 92,168 23 — — Issue of new shares – other — — — — — — Repurchase of ordinary share capital (235,951 ) (59 ) (50,202 ) (13 ) (51,292 ) (13 ) At 31 December 21,535,840 5,383 21,525,464 5,381 21,288,193 5,322 5,404 5,402 5,343 a The nominal amount of 8% cumulative first preference shares and 9% cumulative second preference shares that can be in issue at any time shall not exceed £10,000,000 for each class of preference shares. Voting on substantive resolutions tabled at a general meeting is on a poll. On a poll, shareholders present in person or by proxy have two votes for every £5 in nominal amount of the first and second preference shares held and one vote for every ordinary share held. On a show-of-hands vote on other resolutions (procedural matters) at a general meeting, shareholders present in person or by proxy have one vote each. In the event of the winding up of the company, preference shareholders would be entitled to a sum equal to the capital paid up on the preference shares, plus an amount in respect of accrued and unpaid dividends and a premium equal to the higher of (i) 10% of the capital paid up on the preference shares and (ii) the excess of the average market price of such shares on the London Stock Exchange during the previous six months over par value. During 2019 the company repurchased 236 million ordinary shares for a total consideration of $1,511 million , including transaction costs of $8 million , as part of the share repurchase programme announced on 31 October 2017. All shares purchased were for cancellation. The repurchased shares represented 1.1% of ordinary share capital. A further 120 million of shares have been repurchased in January 2020 at a total cost of $776 million . The number of shares in issue is reduced when shares are repurchased. Treasury shares a 2019 2018 2017 Shares thousand Nominal value $ million Shares thousand Nominal value $ million Shares thousand Nominal value $ million At 1 January 1,426,265 356 1,482,072 370 1,614,657 403 Purchases for settlement of employee share plans 1,118 — 757 — 4,423 1 Issue of new shares for employee share-based payment plans 37,400 9 92,168 23 — — Shares re-issued for employee share-based payment plans (167,927 ) (42 ) (148,732 ) (37 ) (137,008 ) (34 ) At 31 December 1,296,856 323 1,426,265 356 1,482,072 370 Of which – shares held in treasury by BP 1,163,077 290 1,264,732 316 1,472,343 368 – shares held in ESOP trusts 133,707 33 161,518 40 9,705 2 – shares held by BP’s US share plan administrator b 72 — 15 — 24 — a See Note 32 for definition of treasury shares. b Held in the form of ADSs to meet the requirements of employee share-based payment plans in the US. For each year presented, the balance at 1 January represents the maximum number of shares held in treasury by BP during the year, representing 5.9% ( 2018 6.9% and 2017 7.5% ) of the called-up ordinary share capital of the company. During 2019 , the movement in shares held in treasury by BP represented less than 0.5% ( 2018 less than 1.0% and 2017 less than 0.5% ) of the ordinary share capital of the company. Capital and reserves Share capital Share premium account Capital redemption reserve Merger reserve Total share capital and capital reserves At 31 December 2018 5,402 12,305 1,439 27,206 46,352 Adjustment on adoption of IFRS 16, net of tax — — — — — At 1 January 2019 5,402 12,305 1,439 27,206 46,352 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Cash flow hedges and costs of hedging (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Cash flow hedges that will subsequently be transferred to the balance sheet — — — — — Total comprehensive income — — — — — Dividends 52 (52 ) — — — Cash flow hedges transferred to the balance sheet, net of tax — — — — — Repurchases of ordinary share capital (59 ) — 59 — — Share-based payments, net of tax b 9 164 — — 173 Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax c — — — — — At 31 December 2019 5,404 12,417 1,498 27,206 46,525 At 31 December 2017 5,343 12,147 1,426 27,206 46,122 Adjustment on adoption of IFRS 9, net of tax — — — — — At 1 January 2018 5,343 12,147 1,426 27,206 46,122 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Cash flow hedges and costs of hedging (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Cash flow hedges that will subsequently be transferred to the balance sheet — — — — — Total comprehensive income — — — — — Dividends 49 (49 ) — — — Cash flow hedges transferred to the balance sheet, net of tax — — — — — Repurchases of ordinary share capital (13 ) — 13 — — Share-based payments, net of tax b 23 207 — — 230 Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax — — — — — At 31 December 2018 5,402 12,305 1,439 27,206 46,352 At 1 January 2017 5,284 12,219 1,413 27,206 46,122 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Available-for-sale investments (including reclassifications) — — — — — Cash flow hedges (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Total comprehensive income — — — — — Dividends 72 (72 ) — — — Repurchases of ordinary share capital (13 ) — 13 — — Share-based payments, net of tax b — — — — — Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax d — — — — — At 31 December 2017 5,343 12,147 1,426 27,206 46,122 a Principally foreign exchange effects relating to the Russian rouble. b Movements in treasury shares relate to employee share-based payment plans. 32 . Capital and reserves – continued $ million Treasury shares Foreign currency translation reserve Available- for-sale investments Cash flow hedges Costs of hedging Total fair value reserves Profit and loss account BP shareholders’ equity Non- controlling interests Total equity (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,748 99,444 2,104 101,548 — — — — — — (329 ) (329 ) (1 ) (330 ) (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,419 99,115 2,103 101,218 — — — — — — 4,026 4,026 164 4,190 — 2,407 — — — — — 2,407 9 2,416 — — — 5 50 55 — 55 — 55 — — — — — — 82 82 — 82 — — — — — — (64 ) (64 ) — (64 ) — — — — — — 171 171 — 171 — — — (3 ) — (3 ) — (3 ) — (3 ) — 2,407 — 2 50 52 4,215 6,674 173 6,847 — — — — — — (6,929 ) (6,929 ) (213 ) (7,142 ) — — — 23 — 23 — 23 — 23 — — — — — — (1,511 ) (1,511 ) — (1,511 ) 1,355 — — — — — (809 ) 719 — 719 — — — — — — 5 5 — 5 — — — — — — 316 316 233 549 (14,412 ) (6,495 ) — (752 ) (160 ) (912 ) 73,706 98,412 2,296 100,708 (16,958 ) (5,156 ) 17 (760 ) — (743 ) 75,226 98,491 1,913 100,404 — — (17 ) — (37 ) (54 ) (126 ) (180 ) — (180 ) (16,958 ) (5,156 ) — (760 ) (37 ) (797 ) 75,100 98,311 1,913 100,224 — — — — — — 9,383 9,383 195 9,578 — (3,746 ) — — — — — (3,746 ) (41 ) (3,787 ) — — — (6 ) (173 ) (179 ) — (179 ) — (179 ) — — — — — — 417 417 — 417 — — — — — — 7 7 — 7 — — — — — — 1,599 1,599 — 1,599 — — — (37 ) — (37 ) — (37 ) — (37 ) — (3,746 ) — (43 ) (173 ) (216 ) 11,406 7,444 154 7,598 — — — — — — (6,699 ) (6,699 ) (170 ) (6,869 ) — — — 26 — 26 — 26 — 26 — — — — — — (355 ) (355 ) — (355 ) 1,191 — — — — — (718 ) 703 — 703 — — — — — — 14 14 — 14 — — — — — — — — 207 207 (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,748 99,444 2,104 101,548 (18,443 ) (6,878 ) 3 (1,156 ) — (1,153 ) 75,638 95,286 1,557 96,843 — — — — — — 3,389 3,389 79 3,468 — 1,722 — — — — (3 ) 1,719 52 1,771 — — 14 — — 14 — 14 — 14 — — — 396 — 396 — 396 — 396 — — — — — — 564 564 — 564 — — — — — — (72 ) (72 ) — (72 ) — — — — — — 2,343 2,343 — 2,343 — 1,722 14 396 — 410 6,221 8,353 131 8,484 — — — — — — (6,153 ) (6,153 ) (141 ) (6,294 ) — — — — — — (343 ) (343 ) — (343 ) 1,485 — — — — — (798 ) 687 — 687 — — — — — — 215 215 — 215 — — — — — — 446 446 366 812 (16,958 ) (5,156 ) 17 (760 ) — (743 ) 75,226 98,491 1,913 100,404 c Principally relates to the sale of a 49% interest in BP's retail property portfolio in Australia. d Principally relates to the initial public offering of common units in BP Midstream Partners LP for which net proceeds of $811 million were received. 32 . Capital and reserves – continued Share capital The balance on the share capital account represents the aggregate nominal value of all ordinary and preference shares in issue, including treasury shares. Share premium account The balance on the share premium account represents the amounts received in excess of the nominal value of the ordinary and preference shares. Capital redemption reserve The balance on the capital redemption reserve represents the aggregate nominal value of all the ordinary shares repurchased and cancelled. Merger reserve The balance on the merger reserve represents the fair value of the consideration given in excess of the nominal value of the ordinary shares issued in an acquisition made by the issue of shares. Treasury shares Treasury shares represent BP shares repurchased and available for specific and limited purposes. For accounting purposes shares held in Employee Share Ownership Plans (ESOPs) and BP’s US share plan administrator to meet the future requirements of the employee share-based payment plans are treated in the same manner as treasury shares and are, therefore, included in the financial statements as treasury shares. The ESOPs are funded by the group and have waived their rights to dividends in respect of such shares held for future awards. Until such time as the shares held by the ESOPs vest unconditionally to employees, the amount paid for those shares is shown as a reduction in shareholders’ equity. Assets and liabilities of the ESOPs are recognized as assets and liabilities of the group. Foreign currency translation reserve The foreign currency translation reserve records exchange differences arising from the translation of the financial statements of foreign operations. Upon disposal of foreign operations, the related accumulated exchange differences are reclassified to the income statement. Available-for-sale investments This reserve recorded the changes in fair value of investments classified as available-for-sale under IAS 39 except for impairment losses, foreign exchange gains or losses, or changes arising from revised estimates of future cash flows. On adoption of IFRS 9 the balance in this reserve was transferred to the profit and loss account reserve. Under the new standard the group recognizes fair value gains and losses on these investments in profit or loss. Cash flow hedges This reserve records the portion of the gain or loss on a hedging instrument in a cash flow hedge that is determined to be an effective hedge. It includes $651 million relating to the acquisition of an 18.5% interest in Rosneft in 2013 which will only be reclassified to the income statement if the investment in Rosneft is either sold or impaired. For further information on the accounting for cash flow hedges see Note 1 - Derivative financial instruments and hedging activities. Costs of hedging This reserve records the change in fair value of the foreign currency basis spread of financial instruments to which cost of hedge accounting has been applied. The accumulated amount relates to time-period related hedged items and is amortized to profit or loss over the term of the hedging relationship. Prior to the group’s adoption of IFRS 9 changes in the fair value of such foreign currency basis spreads were recognized in profit or loss. On adoption of the new standard a transfer from the profit and loss account reserve to the costs of hedging reserve was made in order to reflect the opening reserves position for relevant hedging instruments existing on transition. For further information on the accounting for costs of hedging see Note 1 - Derivative financial instruments and hedging activities. Profit and loss account The balance held on this reserve is the accumulated retained profits of the group. 32 . Capital and reserves – continued The pre-tax amounts of each component of other comprehensive income, and the related amounts of tax, are shown in the table below. $ million 2019 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) 2,418 (2 ) 2,416 Cash flow hedges (including reclassifications) 6 (1 ) 5 Costs of hedging (including reclassifications) 53 (3 ) 50 Share of items relating to equity-accounted entities, net of tax 82 — 82 Other — (64 ) (64 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 328 (157 ) 171 Cash flow hedges that will subsequently be transferred to the balance sheet (3 ) — (3 ) Other comprehensive income 2,884 (227 ) 2,657 $ million 2018 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) (3,771 ) (16 ) (3,787 ) Cash flow hedges (including reclassifications) (6 ) — (6 ) Costs of hedging (including reclassifications) (186 ) 13 (173 ) Share of items relating to equity-accounted entities, net of tax 417 — 417 Other — 7 7 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 2,317 (718 ) 1,599 Cash flow hedges that will subsequently be transferred to the balance sheet (37 ) — (37 ) Other comprehensive income (1,266 ) (714 ) (1,980 ) $ million 2017 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) 1,866 (95 ) 1,771 Available-for-sale investments (including reclassifications) 14 — 14 Cash flow hedges (including reclassifications) 425 (29 ) 396 Share of items relating to equity-accounted entities, net of tax 564 — 564 Other — (72 ) (72 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 3,646 (1,303 ) 2,343 Other comprehensive income 6,515 (1,499 ) 5,016

Contingent liabilities

Contingent liabilities	12 Months Ended
	Dec. 31, 2019
Disclosure Of Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Contingent liabilities	Contingent liabilities There were contingent liabilities at 31 December 2019 in respect of guarantees and indemnities entered into as part of the ordinary course of the group’s business. No material losses are likely to arise from such contingent liabilities. Further information on financial guarantees is included in Note 29 . In the normal course of the group’s business, BP group entities are subject to legal and regulatory proceedings arising out of current and past operations, including matters related to commercial disputes, product liability, antitrust, commodities trading, premises-liability claims, consumer protection, general health, safety, climate change and environmental claims and allegations of exposures of third parties to toxic substances, such as lead pigment in paint, asbestos and other chemicals. The amounts claimed could be significant and could be material to the group’s results of operations, financial position or liquidity. While it is difficult to predict the ultimate outcome in some cases, BP expects that the impact of current legal and regulatory proceedings on the group‘s results of operations, liquidity or financial position will not be material. The group files tax returns in many jurisdictions throughout the world. Various tax authorities are currently examining the group’s tax returns. Tax returns contain matters that could be subject to differing interpretations of applicable tax laws and regulations including the tax deductibility of certain intercompany charges. The resolution of tax positions through negotiations with relevant tax authorities, or through litigation, can take several years to complete and the amounts could be significant and could, in aggregate, be material to the group’s results of operations, financial position or liquidity. While it is difficult to predict the ultimate outcome in some cases, BP does not expect there to be any material impact upon the group‘s results of operations, financial position or liquidity. 33 . Contingent liabilities – continued The group is subject to numerous national and local health, safety and environmental laws and regulations concerning its products, operations and other activities. These laws and regulations may require the group to take future action to remediate the effects on the environment of prior disposal or release of chemicals or petroleum substances by the group or other parties. Such contingencies may exist for various sites including refineries, chemical plants, oil fields, commodities extraction sites, service stations, terminals and waste disposal sites. In addition, the group may have obligations relating to prior asset sales or closed facilities. The ultimate requirement for remediation and its costs are inherently difficult to estimate. However, the estimated cost of environmental obligations has been provided in these accounts in accordance with the group‘s accounting policies. While the amounts of future possible costs that are not provided for could be significant and material to the group‘s results of operations in the period in which they are recognized, it is not possible to estimate the amounts involved. BP does not expect these costs to have a material impact on the group’s results of operations, financial position or liquidity. If oil and natural gas production facilities and pipelines are sold to third parties and the subsequent owner is unable to meet their decommissioning obligations it is possible that, in certain circumstances, BP could be partially or wholly responsible for decommissioning. While the amounts associated with decommissioning provisions reverting to the group could be significant and could be material, BP is not currently aware of any such cases that have a greater than remote chance of reverting to the group. Furthermore, as described in Provisions and contingencies within Note 1 , decommissioning provisions associated with downstream and petrochemical facilities are not generally recognized as the potential obligations cannot be measured given their indeterminate settlement dates. See also Legal proceedings on pages 319-320 . Contingent liabilities related to the Gulf of Mexico oil spill For information on legal proceedings relating to the Deepwater Horizon oil spill, see Legal proceedings on pages 319-320 . Any further outstanding Deepwater Horizon related claims are not expected to have a material impact on the group's financial performance.

Remuneration of senior manageme

Remuneration of senior management and non-executive directors	12 Months Ended
	Dec. 31, 2019
Related Party [Abstract]
Remuneration of senior management and non-executive directors	Remuneration of senior management and non-executive directors Remuneration of directors $ million 2019 2018 2017 Total for all directors Emoluments 9 8 9 Amounts received under incentive schemes a 20 16 9 Total 29 24 18 a Excludes amounts relating to past directors. Emoluments These amounts comprise fees paid to the non-executive chairman and the non-executive directors and, for executive directors, salary and benefits earned during the relevant financial year, plus cash bonuses awarded for the year. Pension contributions During 2019 one executive director participated in a UK final salary pension plan in respect of service prior to 1 April 2011. During 2019, one executive director participated in retirement savings plans established for US employees and in a US defined benefit pension plan in respect of service prior to 1 September 2016. Further information Full details of individual directors’ remuneration are given in the Directors’ remuneration report on page 100 . See also Related-party transactions on page 321 . Remuneration of directors and senior management $ million 2019 2018 2017 Total for all senior management and non-executive directors Short-term employee benefits 30 25 29 Pensions and other post-retirement benefits 2 2 2 Share-based payments 32 32 29 Total 64 59 60 Senior management comprises members of the executive team, see pages 78-79 for further information. Short-term employee benefits These amounts comprise fees and benefits paid to the non-executive chairman and non-executive directors, as well as salary, benefits and cash bonuses for senior management. Deferred annual bonus awards, to be settled in shares, are included in share-based payments. Short term employee benefits includes compensation for loss of office of $nil in 2019 ( 2018 $nil and 2017 $nil ). Pensions and other post-retirement benefits The amounts represent the estimated cost to the group of providing pensions and other post-retirement benefits to senior management in respect of the current year of service measured in accordance with IAS 19 ‘Employee Benefits’. Share-based payments This is the cost to the group of senior management’s participation in share-based payment plans, as measured by the fair value of options and shares granted, accounted for in accordance with IFRS 2 ‘Share-based Payments’.

Employee costs and numbers

Employee costs and numbers	12 Months Ended
	Dec. 31, 2019
Additional information [abstract]
Employee costs and numbers	Pensions and other post-retirement benefits Most group companies have pension plans, the forms and benefits of which vary with conditions and practices in the countries concerned. Pension benefits may be provided through defined contribution plans (money purchase schemes) or defined benefit plans (final salary and other types of schemes with committed pension benefit payments). For defined contribution plans, retirement benefits are determined by the value of funds arising from contributions paid in respect of each employee. For defined benefit plans, retirement benefits are based on such factors as an employee’s pensionable salary and length of service. Defined benefit plans may be funded or unfunded. The assets of funded plans are generally held in separately administered trusts. For information on significant estimates and judgements made in relation to accounting for these plans see Pensions and other post-retirement benefits in Note 1 . The primary pension arrangement in the UK is a funded final salary pension plan under which retired employees draw the majority of their benefit as an annuity. This pension plan is governed by a corporate trustee whose board is composed of four member-nominated directors, four company-nominated directors, an independent director and an independent chairman nominated by the company. The trustee board is required by law to act in the best interests of the plan participants and is responsible for setting certain policies, such as investment policies of the plan. The UK plan is closed to new joiners but remains open to ongoing accrual for current members. New joiners in the UK are eligible for membership of a defined contribution plan. In the US, all pension benefits now accrue under a cash balance formula. Benefits previously accrued under final salary formulas are legally protected. Retiring US employees typically take their pension benefit in the form of a lump sum payment upon retirement. The plan is funded and its assets are overseen by a fiduciary Investment Committee. During 2019 the committee was composed of six BP employees appointed by the president of BP Corporation North America Inc. (the appointing officer). A seventh BP employee was added to the committee on 1 January 2020. The Investment Committee is required by law to act in the best interests of the plan participants and is responsible for setting certain policies, such as the investment policies of the plan. US employees are also eligible to participate in a defined contribution (401k) plan in which employee contributions are matched with company contributions. In the US, group companies also provide post-retirement healthcare to retired employees and their dependants (and, in certain cases, life insurance coverage); the entitlement to these benefits is usually based on the employee remaining in service until a specified age and completion of a minimum period of service. In the Eurozone, there are defined benefit pension plans in Germany, France, the Netherlands and other countries. In Germany and France, the majority of the pensions are unfunded, in line with market practice. In Germany, the group’s largest Eurozone plan, employees receive a pension and also have a choice to supplement their core pension through salary sacrifice. For employees who joined since 2002, the core pension benefit is a career average plan with retirement benefits based on such factors as an employee’s pensionable salary and length of service. The returns on the notional contributions made by both the company and employees are based on the interest rate which is set out in German tax law. Retired German employees take their pension benefit typically in the form of an annuity. The German plans are governed by legal agreements between BP and the works council or between BP and the trade union. The level of contributions to funded defined benefit plans is the amount needed to provide adequate funds to meet pension obligations as they fall due. During 2019 the aggregate level of contributions was $349 million ( 2018 $610 million and 2017 $637 million ). The aggregate level of contributions in 2020 is expected to be approximately $550 million , and includes contributions in all countries that we expect to be required to make contributions by law or under contractual agreements, as well as an allowance for discretionary funding. For the primary UK plan there is a funding agreement between the group and the trustee. On an annual basis the latest funding position is reviewed and a schedule of contributions is agreed covering the next five years . Contractually committed funding amounted to $1,276 million at 31 December 2019 , all of which relates to future service. This amount is included in the group’s committed cash flows relating to pensions and other post-retirement benefit plans as set out in the table of contractual obligations on page 302 . The surplus relating to the primary UK pension plan is recognized on the balance sheet on the basis that the company is entitled to a refund of any remaining assets once all members have left the plan. Pension contributions in the US are determined by legislation and are supplemented by discretionary contributions. No contributions were made into the primary US pension plan in 2019 and no statutory funding requirement is expected in the next 12 months. The surplus relating to the primary US fund is recognized on the balance sheet on the basis that economic benefit can be gained from the surplus through a reduction in future contributions. There was no minimum funding requirement for the US plan, and no significant minimum funding requirements in other countries at 31 December 2019 . 24 . Pensions and other post-retirement benefits – continued The obligation and cost of providing pensions and other post-retirement benefits is assessed annually using the projected unit credit method. The date of the most recent actuarial review was 31 December 2019 . The UK plans are subject to a formal actuarial valuation every three years; valuations are required more frequently in many other countries. The most recent formal actuarial valuation of the UK pension plans was as at 31 December 2017. A valuation of the US plan and largest Eurozone plans are carried out annually. The material financial assumptions used to estimate the benefit obligations of the various plans are set out below. The assumptions are reviewed by management at the end of each year, and are used to evaluate the accrued benefit obligation at 31 December and pension expense for the following year. % Financial assumptions used to determine benefit obligation UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rate for plan liabilities 2.1 2.9 2.5 3.1 4.1 3.5 1.3 2.0 1.9 Rate of increase in salaries 3.4 3.8 4.1 3.9 3.9 4.1 3.1 3.1 3.0 Rate of increase for pensions in payment 2.7 3.0 2.9 — — — 1.5 1.5 1.4 Rate of increase in deferred pensions 2.7 3.0 2.9 — — — 0.5 0.5 0.6 Inflation for plan liabilities 2.7 3.1 3.1 1.5 1.5 1.7 1.7 1.7 1.6 % Financial assumptions used to determine benefit expense UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rate for plan service cost 3.0 2.6 2.7 4.2 3.6 4.1 2.5 2.4 2.1 Discount rate for plan other finance expense 2.9 2.5 2.7 4.1 3.5 3.9 2.0 1.9 1.7 Inflation for plan service cost 3.1 3.1 3.2 1.5 1.7 1.8 1.7 1.6 1.6 The discount rate assumptions are based on third-party AA corporate bond indices and for our largest plans in the UK, US and the Eurozone we use yields that reflect the maturity profile of the expected benefit payments. The inflation rate assumptions for our UK and US plans are based on the difference between the yields on index-linked and fixed-interest long-term government bonds. In other countries, including the Eurozone, we use this approach, or advice from the local actuary depending on the information available. The inflation assumptions are used to determine the rate of increase for pensions in payment and the rate of increase in deferred pensions where there is such an increase. The assumptions for the rate of increase in salaries are based on the inflation assumption plus an allowance for expected long-term real salary growth. These include an allowance for promotion-related salary growth, of up to 0.8% depending on country. In addition to the financial assumptions, we regularly review the demographic and mortality assumptions. The mortality assumptions reflect best practice in the countries in which we provide pensions, and have been chosen with regard to applicable published tables adjusted where appropriate to reflect the experience of the group and an extrapolation of past longevity improvements into the future. BP’s most substantial pension liabilities are in the UK, the US and the Eurozone where our mortality assumptions are as follows: Years Mortality assumptions UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Life expectancy at age 60 for a male currently aged 60 27.3 27.4 27.4 24.9 25.1 25.1 25.7 25.6 25.1 Life expectancy at age 60 for a male currently aged 40 28.9 28.9 29.0 26.7 26.9 26.8 28.3 28.1 27.6 Life expectancy at age 60 for a female currently aged 60 28.7 28.8 28.8 28.0 28.5 28.4 29.1 29.0 29.0 Life expectancy at age 60 for a female currently aged 40 30.5 30.6 30.5 29.7 30.1 30.0 31.2 31.2 31.4 Pension plan assets are generally held in trusts, the primary objective of which is to accumulate assets sufficient to meet the obligations of the plans. The assets of the trusts are invested in a manner consistent with fiduciary obligations and principles that reflect current practices in portfolio management. A significant proportion of the assets are held in equities, which are expected to generate a higher level of return over the long term, with an acceptable level of risk. In order to provide reasonable assurance that no single security or type of security has an unwarranted impact on the total portfolio, the investment portfolios are highly diversified. The trustee’s long-term investment objective for the primary UK plan as it matures is to invest in assets whose value changes in the same way as the plan liabilities, in order to reduce the level of funding risk. To move towards this objective, the UK plan uses a liability driven investment (LDI) approach for part of the portfolio, investing primarily in government bonds to achieve this matching effect for the most significant plan liability assumptions of interest rate and inflation rate. This is partly funded by short-term sale and repurchase agreements, whereby the plan borrows money using existing bonds as security and which will be bought back at a specified price at an agreed future date. The funds raised are used to invest in further bonds to increase the proportion of assets which match the plan liabilities. The borrowings are shown separately in the analysis of pension plan assets in the table below. For the primary UK pension plan there is an agreement with the trustee to increase the proportion of assets with liability matching characteristics over time primarily by reducing the proportion of plan assets held as equities and increasing the proportion held as bonds. There is a similar agreement in place for the primary US plan. During 2019 , the UK and the US plans switched 2% and nil of plan assets respectively from equities to bonds (2018 12.5% and 10% respectively). 24 . Pensions and other post-retirement benefits – continued The current asset allocation policy for the major plans at 31 December 2019 was as follows: UK US Asset category % % Total equity (including private equity) 28 40 Bonds/cash (including LDI) 65 60 Property/real estate 7 — The amounts invested under the LDI programme by the primary UK pension plan as at 31 December 2019 were $4,804 million ( 2018 $4,197 million ) of government-issued nominal bonds and $19,462 million ( 2018 $17,491 million ) of index-linked bonds. Some of the group’s pension plans in the Eurozone and other countries use derivative financial instruments as part of their asset mix to manage the level of risk. The fair value of these instruments are included in other assets in the table below. The UK and US plans do not use derivative financial instruments. The group’s main pension plans do not invest directly in either securities or property/real estate of the company or of any subsidiary. The fair values of the various categories of assets held by the defined benefit plans at 31 December are presented in the table below, including the effects of derivative financial instruments. Movements in the fair value of plan assets during the year are shown in detail in the table on page 197 . $ million UK a US b Eurozone Other Total Fair value of pension plan assets At 31 December 2019 Listed equities – developed markets 6,285 1,290 495 371 8,441 – emerging markets 1,096 124 61 64 1,345 Private equity c 2,675 1,474 — 3 4,152 Government issued nominal bonds d 4,884 2,100 959 572 8,515 Government issued index-linked bonds d 19,462 — 100 — 19,562 Corporate bonds d 6,132 2,304 569 256 9,261 Property e 2,507 — 96 27 2,630 Cash 426 289 33 93 841 Other 98 74 30 26 228 Debt (repurchase agreements) used to fund liability driven investments (7,436 ) — — — (7,436 ) 36,129 7,655 2,343 1,412 47,539 At 31 December 2018 Listed equities – developed markets 5,191 1,238 413 306 7,148 – emerging markets 950 63 65 56 1,134 Private equity c 2,792 1,495 — 4 4,291 Government issued nominal bonds d 4,263 2,072 895 533 7,763 Government issued index-linked bonds d 17,491 — 102 — 17,593 Corporate bonds d 4,606 2,184 506 243 7,539 Property e 2,311 6 57 25 2,399 Cash 376 73 42 83 574 Other 116 64 32 40 252 Debt (repurchase agreements) used to fund liability driven investments (6,011 ) — — — (6,011 ) 32,085 7,195 2,112 1,290 42,682 At 31 December 2017 Listed equities – developed markets 9,548 2,158 537 376 12,619 – emerging markets 2,220 220 83 53 2,576 Private equity c 2,679 1,461 — — 4,140 Government issued nominal bonds d 2,663 1,777 941 545 5,926 Government issued index-linked bonds d 16,177 — 2 — 16,179 Corporate bonds d 4,682 2,024 546 272 7,524 Property e 2,211 6 71 30 2,318 Cash 390 80 21 98 589 Other 104 53 23 45 225 Debt (repurchase agreements) used to fund liability driven investments (5,583 ) — — — (5,583 ) 35,091 7,779 2,224 1,419 46,513 a Bonds held by the UK pension plans are denominated in sterling. Property held by the UK pension plans is in the United Kingdom. b Bonds held by the US pension plans are denominated in US dollars. c Private equity is valued at fair value based on the most recent transaction price or third-party net asset, revenue or earnings based valuations that generally result in the use of significant unobservable inputs. d Bonds held by pension plans are valued using quoted prices in active markets. e Properties are valued based on an analysis of recent market transactions supported by market knowledge derived from third-party professional valuers that generally result in the use of significant unobservable inputs. 24 . Pensions and other post-retirement benefits – continued $ million 2019 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 227 263 81 38 609 Past service cost b 2 — 5 (1 ) 6 Settlement b — (13 ) 8 — (5 ) Operating charge relating to defined benefit plans 229 250 94 37 610 Payments to defined contribution plans 42 188 7 38 275 Total operating charge 271 438 101 75 885 Interest income on plan assets a (909 ) (285 ) (43 ) (46 ) (1,283 ) Interest on plan liabilities 757 387 133 69 1,346 Other finance (income) expense (152 ) 102 90 23 63 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets 2,945 1,079 220 97 4,341 Change in financial assumptions underlying the present value of the plan liabilities (2,294 ) (1,036 ) (748 ) (92 ) (4,170 ) Change in demographic assumptions underlying the present value of the plan liabilities 136 91 3 (4 ) 226 Experience gains and losses arising on the plan liabilities (57 ) (22 ) 6 4 (69 ) Remeasurements recognized in other comprehensive income 730 112 (519 ) 5 328 Movements in benefit obligation during the year Benefit obligation at 1 January 26,830 9,696 6,906 1,686 45,118 Exchange adjustments 942 — (142 ) 26 826 Operating charge relating to defined benefit plans 229 250 94 37 610 Interest cost 757 387 133 69 1,346 Contributions by plan participants c 20 — 2 6 28 Benefit payments (funded plans) d (1,207 ) (830 ) (76 ) (75 ) (2,188 ) Benefit payments (unfunded plans) d (6 ) (205 ) (273 ) (15 ) (499 ) Reclassified as assets held for sale — (146 ) — — (146 ) Disposals — — (30 ) — (30 ) Remeasurements 2,215 967 739 92 4,013 Benefit obligation at 31 December a e 29,780 10,119 7,353 1,826 49,078 Movements in fair value of plan assets during the year Fair value of plan assets at 1 January 32,085 7,195 2,112 1,290 42,682 Exchange adjustments 1,141 — (43 ) 24 1,122 Interest income on plan assets a f 909 285 43 46 1,283 Contributions by plan participants c 20 — 2 6 28 Contributions by employers (funded plans) 236 4 85 24 349 Benefit payments (funded plans) d (1,207 ) (830 ) (76 ) (75 ) (2,188 ) Reclassified as assets held for sale — (78 ) — — (78 ) Remeasurements f 2,945 1,079 220 97 4,341 Fair value of plan assets at 31 December g 36,129 7,655 2,343 1,412 47,539 Surplus (deficit) at 31 December 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) Represented by Asset recognized 6,588 387 27 51 7,053 Liability recognized (239 ) (2,851 ) (5,037 ) (465 ) (8,592 ) 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) The surplus (deficit) may be analysed between funded and unfunded plans as follows Funded 6,588 387 (136 ) (87 ) 6,752 Unfunded (239 ) (2,851 ) (4,874 ) (327 ) (8,291 ) 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) The defined benefit obligation may be analysed between funded and unfunded plans as follows Funded (29,541 ) (7,268 ) (2,479 ) (1,499 ) (40,787 ) Unfunded (239 ) (2,851 ) (4,874 ) (327 ) (8,291 ) (29,780 ) (10,119 ) (7,353 ) (1,826 ) (49,078 ) a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs and settlements in the Eurozone have arisen from restructuring programmes and represent charges for special termination benefits reflecting the increased liability arising as a result of early retirements. Settlements in the US are the result of a buy-out transaction for the pensions of a group of low value annuitants. c Most of the contributions made by plan participants into UK pension plans were made under salary sacrifice. d The benefit payments amount shown above comprises $2,304 million benefits and $346 million settlements, plus $37 million of plan expenses incurred in the administration of the benefit. e The benefit obligation for the US is made up of $7,789 million for pension liabilities and $2,330 million for other post-retirement benefit liabilities (which are unfunded and are primarily retiree medical liabilities). The benefit obligation for the Eurozone includes $4,567 million for pension liabilities in Germany which is largely unfunded. f The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above. g The fair value of plan assets includes borrowings related to the LDI programme as described on page 196 . 24 . Pensions and other post-retirement benefits – continued $ million 2018 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 295 299 84 43 721 Past service cost b 15 — 9 4 28 Settlement b — — 17 — 17 Operating charge relating to defined benefit plans 310 299 110 47 766 Payments to defined contribution plans 38 178 5 40 261 Total operating charge 348 477 115 87 1,027 Interest income on plan assets a (868 ) (262 ) (44 ) (45 ) (1,219 ) Interest on plan liabilities 774 369 136 67 1,346 Other finance (income) expense (94 ) 107 92 22 127 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets (722 ) (256 ) (69 ) (36 ) (1,083 ) Change in financial assumptions underlying the present value of the plan liabilities 1,770 945 14 65 2,794 Change in demographic assumptions underlying the present value of the plan liabilities 123 (9 ) (42 ) 7 79 Experience gains and losses arising on the plan liabilities 520 41 (43 ) 9 527 Remeasurements recognized in other comprehensive income 1,691 721 (140 ) 45 2,317 Movements in benefit obligation during the year Benefit obligation at 1 January 31,513 10,820 7,275 1,873 51,481 Exchange adjustments (1,589 ) — (303 ) (113 ) (2,005 ) Operating charge relating to defined benefit plans 310 299 110 47 766 Interest cost 774 369 136 67 1,346 Contributions by plan participants c 21 — 2 7 30 Benefit payments (funded plans) d (1,780 ) (597 ) (84 ) (83 ) (2,544 ) Benefit payments (unfunded plans) d (6 ) (218 ) (301 ) (17 ) (542 ) Disposals — — — (14 ) (14 ) Remeasurements (2,413 ) (977 ) 71 (81 ) (3,400 ) Benefit obligation at 31 December a e 26,830 9,696 6,906 1,686 45,118 Movements in fair value of plan assets during the year Fair value of plan assets at 1 January 35,091 7,779 2,224 1,419 46,513 Exchange adjustments (1,883 ) — (93 ) (73 ) (2,049 ) Interest income on plan assets a f 868 262 44 45 1,219 Contributions by plan participants c 21 — 2 7 30 Contributions by employers (funded plans) 490 7 88 25 610 Benefit payments (funded plans) d (1,780 ) (597 ) (84 ) (83 ) (2,544 ) Disposals — — — (14 ) (14 ) Remeasurements f (722 ) (256 ) (69 ) (36 ) (1,083 ) Fair value of plan assets at 31 December g 32,085 7,195 2,112 1,290 42,682 Surplus (deficit) at 31 December 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) Represented by Asset recognized 5,473 418 29 35 5,955 Liability recognized (218 ) (2,919 ) (4,823 ) (431 ) (8,391 ) 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) The surplus (deficit) may be analysed between funded and unfunded plans as follows Funded 5,473 396 (152 ) (97 ) 5,620 Unfunded (218 ) (2,897 ) (4,642 ) (299 ) (8,056 ) 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) The defined benefit obligation may be analysed between funded and unfunded plans as follows Funded (26,612 ) (6,799 ) (2,264 ) (1,387 ) (37,062 ) Unfunded (218 ) (2,897 ) (4,642 ) (299 ) (8,056 ) (26,830 ) (9,696 ) (6,906 ) (1,686 ) (45,118 ) a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs and settlements have arisen from restructuring programmes and represent charges for special termination benefits representing the increased liability arising as a result of early retirements mostly in the UK and Eurozone. c Most of the contributions made by plan participants into UK pension plans were made under salary sacrifice. d The benefit payments amount shown above comprises $3,046 million benefits and $2 million settlements, plus $38 million of plan expenses incurred in the administration of the benefit. e The benefit obligation for the US is made up of $7,290 million for pension liabilities and $2,406 million for other post-retirement benefit liabilities (which are unfunded and are primarily retiree medical liabilities). The benefit obligation for the Eurozone includes $4,328 million for pension liabilities in Germany which is largely unfunded. f The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above. g The fair value of plan assets includes borrowings related to the LDI programme as described on page 196 . 24 . Pensions and other post-retirement benefits – continued $ million 2017 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 357 292 85 46 780 Past service cost b 12 — 5 (1 ) 16 Settlement — — 13 — 13 Operating charge relating to defined benefit plans 369 292 103 45 809 Payments to defined contribution plans 31 191 7 38 267 Total operating charge 400 483 110 83 1,076 Interest income on plan assets a (845 ) (266 ) (37 ) (48 ) (1,196 ) Interest on plan liabilities 831 393 121 71 1,416 Other finance (income) expense (14 ) 127 84 23 220 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets 2,396 826 30 43 3,295 Change in financial assumptions underlying the present value of the plan liabilities (236 ) (514 ) 336 (47 ) (461 ) Change in demographic assumptions underlying the present value of the plan liabilities 734 72 — (23 ) 783 Experience gains and losses arising on the plan liabilities 91 (40 ) (36 ) 14 29 Remeasurements recognized in other comprehensive income 2,985 344 330 (13 ) 3,646 a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs have arisen from restructuring programmes and represent a combination of credits as a result of the curtailment in the pension arrangements of a number of employees mostly in the US and charges for special termination benefits representing the increased liability arising as a result of early retirements mostly in the UK and Eurozone. Sensitivity analysis The discount rate, inflation, salary growth and the mortality assumptions all have a significant effect on the amounts reported. A one-percentage point change, in isolation, in certain assumptions as at 31 December 2019 for the group’s pensions and other post-retirement benefit expense would have had the effects shown in the tables below. The effects shown for the expense in 2020 comprise the total of current service cost and net finance income or expense. $ million One percentage point UK US Eurozone Increase Decrease Increase Decrease Increase Decrease Discount rate a Effect on expense in 2020 (274 ) 227 (66 ) 58 (1 ) (11 ) Effect on obligation at 31 December 2019 (4,729 ) 6,364 (1,191 ) 1,478 (1,060 ) 1,347 Inflation rate b Effect on expense in 2020 171 (134 ) 11 (9 ) 35 (27 ) Effect on obligation at 31 December 2019 4,711 (3,890 ) 67 (54 ) 978 (824 ) Salary growth Effect on expense in 2020 42 (36 ) 13 (11 ) 7 (7 ) Effect on obligation at 31 December 2019 604 (525 ) 80 (67 ) 93 (89 ) a The amounts presented reflect that the discount rate is used to determine the asset interest income as well as the interest cost on the obligation. b The amounts presented reflect the total impact of an inflation rate change on the assumptions for rate of increase in salaries, pensions in payment and deferred pensions. $ million One year increase UK US Eurozone Longevity Effect on expense in 2020 31 6 9 Effect on obligation at 31 December 2019 1,140 147 306 Estimated future benefit payments and the weighted average duration of defined benefit obligations The expected benefit payments, which reflect expected future service, as appropriate, but exclude plan expenses, up until 2029 and the weighted average duration of the defined benefit obligations at 31 December 2019 are as follows: $ million Estimated future benefit payments UK US Eurozone Other Total 2020 1,065 743 333 104 2,245 2021 1,078 789 323 98 2,288 2022 1,098 711 319 101 2,229 2023 1,138 718 314 98 2,268 2024 1,151 699 300 99 2,249 2025-2029 5,895 3,277 1,438 489 11,099 Years Weighted average duration 18.3 13.2 16.4 13.0 Employee costs and numbers $ million Employee costs 2019 2018 2017 Wages and salaries a 7,497 7,931 7,572 Social security costs 733 743 711 Share-based payments b 694 669 624 Pension and other post-retirement benefit costs 948 1,154 1,296 9,872 10,497 10,203 2019 2018 2017 Average number of employees c US Non-US Total US Non-US Total US Non-US Total Upstream 5,800 11,000 16,800 5,900 11,500 17,400 6,200 12,200 18,400 Downstream d 5,700 37,300 43,000 6,000 36,300 42,300 6,100 35,900 42,000 Other businesses and corporate e 2,100 10,600 12,700 1,900 12,100 14,000 1,900 12,400 14,300 13,600 58,900 72,500 13,800 59,900 73,700 14,200 60,500 74,700 a Includes termination costs of $182 million ( 2018 $493 million and 2017 $189 million ). b The group provides certain employees with shares and share options as part of their remuneration packages. The majority of these share-based payment arrangements are equity-settled. c Reported to the nearest 100. d Includes 18,100 ( 2018 17,100 and 2017 16,500 ) service station staff. e Includes 2,500 ( 2018 4,000 and 2017 4,700 ) agricultural, operational and seasonal workers in Brazil.

Auditor_s remuneration

Auditor’s remuneration	12 Months Ended
	Dec. 31, 2019
Additional information [abstract]
Auditor's remuneration	Auditor’s remuneration $ million Fees 2019 2018 2017 The audit of the company annual accounts a 32 25 26 The audit of accounts of subsidiaries of the company 11 10 11 Total audit 43 35 37 Audit-related assurance services b 4 4 7 Total audit and audit-related assurance services 47 39 44 Non-audit and other assurance services 1 2 3 Total non-audit or non-audit-related assurance services 1 2 3 Services relating to BP pension plans 1 1 — 49 42 47 a Fees in respect of the audit of the accounts of BP p.l.c. including the group’s consolidated financial statements. b Includes interim reviews and audit of internal control over financial reporting and non-statutory audit services. With effect from 2018, following a competitive tender process, Deloitte LLP (Deloitte) was appointed as auditor of the Company, replacing Ernst & Young LLP (EY). In the table above, auditor’s remuneration for services provided during the years ended 31 December 2019 and 31 December 2018 thus relates to Deloitte and for the year ended 31 December 2017 EY. 2019 includes $3.6 million of additional fees for 2018. In addition to the amounts shown in the table above, in 2018 $0.75 million of additional fees were paid to EY in respect of their audit for 2017 . Auditor's remuneration is included in the income statement within distribution and administration expenses. Tax services (in relation to income tax, indirect tax compliance, employee tax services and tax advisory services) were $nil in all periods presented. The audit committee has established pre-approval policies and procedures for the engagement of Deloitte to render audit and certain assurance and other services. The audit fees payable to Deloitte were considered as part of the audit tender process in 2016 and challenged by the audit committee through comparison with the audit pricing proposals of the other bidding firms, before being approved. Deloitte performed further assurance services that were not prohibited by regulatory or other professional requirements and were pre-approved by the Committee. Deloitte is engaged for these services when its expertise and experience of BP are important. Most of this work is of an audit-related or assurance nature. Under SEC regulations, the remuneration of the auditor of $49 million ( 2018 $42 million and 2017 $47 million ) is required to be presented as follows: audit $43 million ( 2018 $35 million and 2017 $37 million ); other audit-related $4 million ( 2018 $4 million and 2017 $7 million ); tax $nil ( 2018 $nil and 2017 $nil ); and all other fees $3 million ( 2018 $3 million and 2017 $3 million ).

Subsidiaries, joint arrangement

Subsidiaries, joint arrangements and associates	12 Months Ended
	Dec. 31, 2019
Interest In Other Entities [Abstract]
Subsidiaries, joint arrangements and associates	Subsidiaries, joint arrangements and associates The more important subsidiaries and associates of the group at 31 December 2019 and the group percentage of ordinary share capital (to nearest whole number) are set out below. There are no individually significant incorporated joint arrangements. The group's share of the assets and liabilities of the more important unincorporated joint arrangements are held by subsidiaries listed in the table below. Those subsidiaries held directly by the parent company are marked with an asterisk (*), the percentage owned being that of the group unless otherwise indicated. A complete list of undertakings of the group is included in Note 14 in the parent company financial statements of BP p.l.c. which are filed with the Registrar of Companies in the UK, along with the group’s annual report. Subsidiaries % Country of incorporation Principal activities International BP Corporate Holdings 100 England & Wales Investment holding BP Exploration Operating Company 100 England & Wales Exploration and production *BP Global Investments 100 England & Wales Investment holding *BP International 100 England & Wales Integrated oil operations BP Oil International 100 England & Wales Integrated oil operations *Burmah Castrol 100 Scotland Lubricants Angola BP Exploration (Angola) 100 England & Wales Exploration and production Azerbaijan BP Exploration (Caspian Sea) 100 England & Wales Exploration and production BP Exploration (Azerbaijan) 100 England & Wales Exploration and production Canada *BP Holdings Canada 100 England & Wales Investment holding Egypt BP Exploration (Delta) 100 England & Wales Exploration and production Germany BP Europa SE 100 Germany Refining and marketing India BP Exploration (Alpha) 100 England & Wales Exploration and production Trinidad & Tobago BP Trinidad and Tobago 70 US Exploration and production UK BP Capital Markets 100 England & Wales Finance US *BP Holdings North America 100 England & Wales Investment holding Atlantic Richfield Company 100 US Exploration and production, refining and marketing BP America 100 US BP America Production Company 100 US BP Company North America 100 US BP Corporation North America 100 US BP Exploration (Alaska) 100 US BP Products North America 100 US Standard Oil Company 100 US BP Capital Markets America 100 US Finance Associates % Country of incorporation Principal activities Russia Rosneft Oil Company 19.75 Russia Integrated oil operations

Condensed consolidating informa

Condensed consolidating information on certain US subsidiaries	12 Months Ended
	Dec. 31, 2019
Disclosure Of Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed consolidating information on certain US subsidiaries	Condensed consolidating information on certain US subsidiaries BP p.l.c. fully and unconditionally guarantees the payment obligations of its 100% -owned subsidiary BP Exploration (Alaska) Inc. under the BP Prudhoe Bay Royalty Trust. As described in Note 2, in 2020 BP expects, subject to governmental authorizations, to complete the sale of all of its Alaska operations, including its interest in BP Exploration (Alaska) Inc., to Hilcorp Energy. Following completion of the sale, BP will continue to fully and unconditionally guarantee the payment obligations of BP Exploration (Alaska) Inc. to the BP Prudhoe Bay Royalty Trust. The following financial information for BP p.l.c., BP Exploration (Alaska) Inc. and all other subsidiaries on a condensed consolidating basis is intended to provide investors with meaningful and comparable financial information about BP p.l.c. and its subsidiary issuers of registered securities and is provided pursuant to Rule 3-10 of Regulation S-X in lieu of the separate financial statements of each subsidiary issuer of public debt securities. Non-current assets for BP p.l.c. includes investments in subsidiaries recorded under the equity method for the purposes of the condensed consolidating financial information. Equity-accounted income of subsidiaries is the group’s share of profit related to such investments. The eliminations and reclassifications column includes the necessary amounts to eliminate the intercompany balances and transactions between BP p.l.c., BP Exploration (Alaska) Inc. and other subsidiaries. The financial information presented in the following tables for BP Exploration (Alaska) Inc. incorporates subsidiaries of BP Exploration (Alaska) Inc. using the equity method of accounting and excludes the BP group’s midstream operations in Alaska that are reported through different legal entities and that are included within the ‘other subsidiaries’ column in these tables. BP p.l.c. also fully and unconditionally guarantees securities issued by BP Capital Markets p.l.c. and BP Capital Markets America Inc. These companies are 100% -owned finance subsidiaries of BP p.l.c. Income statement $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 4,413 — 278,111 (4,127 ) 278,397 Earnings from joint ventures - after interest and tax — — 576 — 576 Earnings from associates - after interest and tax — — 2,681 — 2,681 Equity-accounted income of subsidiaries - after interest and tax — 5,916 — (5,916 ) — Interest and other income 42 385 2,284 (1,942 ) 769 Gains on sale of businesses and fixed assets 4 — 189 — 193 Total revenues and other income 4,459 6,301 283,841 (11,985 ) 282,616 Purchases 2,361 — 211,438 (4,127 ) 209,672 Production and manufacturing expenses 907 — 20,908 — 21,815 Production and similar taxes 163 — 1,384 — 1,547 Depreciation, depletion and amortization 169 — 17,611 — 17,780 Impairment and losses on sale of businesses and fixed assets 747 — 7,328 — 8,075 Exploration expense — — 964 — 964 Distribution and administration expenses 75 803 10,333 (154 ) 11,057 Profit (loss) before interest and taxation 37 5,498 13,875 (7,704 ) 11,706 Finance costs 17 1,569 3,691 (1,788 ) 3,489 Net finance (income) expense relating to pensions and other post-retirement benefits — (153 ) 216 — 63 Profit (loss) before taxation 20 4,082 9,968 (5,916 ) 8,154 Taxation (40 ) 56 3,948 — 3,964 Profit (loss) for the year 60 4,026 6,020 (5,916 ) 4,190 Attributable to BP shareholders 60 4,026 5,856 (5,916 ) 4,026 Non-controlling interests — — 164 — 164 60 4,026 6,020 (5,916 ) 4,190 38 . Condensed consolidating information on certain US subsidiaries – continued Income statement continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 4,315 — 298,620 (4,179 ) 298,756 Earnings from joint ventures - after interest and tax — — 897 — 897 Earnings from associates - after interest and tax — — 2,856 — 2,856 Equity-accounted income of subsidiaries - after interest and tax — 10,942 — (10,942 ) — Interest and other income 42 373 2,081 (1,723 ) 773 Gains on sale of businesses and fixed assets — — 456 — 456 Total revenues and other income 4,357 11,315 304,910 (16,844 ) 303,738 Purchases 1,507 — 232,550 (4,179 ) 229,878 Production and manufacturing expenses 1,015 — 21,990 — 23,005 Production and similar taxes 282 — 1,254 — 1,536 Depreciation, depletion and amortization 377 — 15,080 — 15,457 Impairment and losses on sale of businesses and fixed assets 66 — 794 — 860 Exploration expense — — 1,445 — 1,445 Distribution and administration expenses 22 642 11,673 (158 ) 12,179 Profit (loss) before interest and taxation 1,088 10,673 20,124 (12,507 ) 19,378 Finance costs 8 1,326 2,759 (1,565 ) 2,528 Net finance (income) expense relating to pensions and other post-retirement benefits — (95 ) 222 — 127 Profit (loss) before taxation 1,080 9,442 17,143 (10,942 ) 16,723 Taxation 164 59 6,922 — 7,145 Profit (loss) for the year 916 9,383 10,221 (10,942 ) 9,578 Attributable to BP shareholders 916 9,383 10,026 (10,942 ) 9,383 Non-controlling interests — — 195 — 195 916 9,383 10,221 (10,942 ) 9,578 Income statement continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 3,264 — 240,177 (3,233 ) 240,208 Earnings from joint ventures - after interest and tax — — 1,177 — 1,177 Earnings from associates - after interest and tax — — 1,330 — 1,330 Equity-accounted income of subsidiaries - after interest and tax — 4,436 — (4,436 ) — Interest and other income 11 369 1,470 (1,193 ) 657 Gains on sale of businesses and fixed assets 71 9 1,139 (9 ) 1,210 Total revenues and other income 3,346 4,814 245,293 (8,871 ) 244,582 Purchases 1,010 — 181,939 (3,233 ) 179,716 Production and manufacturing expenses 1,156 — 23,073 — 24,229 Production and similar taxes a (18 ) — 1,793 — 1,775 Depreciation, depletion and amortization 735 — 14,849 — 15,584 Impairment and losses on sale of businesses and fixed assets — — 1,216 — 1,216 Exploration expense — — 2,080 — 2,080 Distribution and administration expenses 19 616 10,022 (149 ) 10,508 Profit (loss) before interest and taxation 444 4,198 10,321 (5,489 ) 9,474 Finance costs 6 826 2,286 (1,044 ) 2,074 Net finance (income) expense relating to pensions and other post-retirement benefits — (15 ) 235 — 220 Profit (loss) before taxation 438 3,387 7,800 (4,445 ) 7,180 Taxation (392 ) (11 ) 4,115 — 3,712 Profit (loss) for the year 830 3,398 3,685 (4,445 ) 3,468 Attributable to BP shareholders 830 3,398 3,606 (4,445 ) 3,389 Non-controlling interests — — 79 — 79 830 3,398 3,685 (4,445 ) 3,468 a Includes revised non-cash provision adjustments; actual cash payments for Production and similar taxes remain in line with prior year. 38 . Condensed consolidating information on certain US subsidiaries – continued Statement of comprehensive income $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 60 4,026 6,020 (5,916 ) 4,190 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — 200 1,338 — 1,538 Exchange (gains) or losses on translation of foreign operations transferred to gain or loss on sale of businesses and fixed assets — — 880 — 880 Cash flow hedges marked to market — — (100 ) — (100 ) Cash flow hedges - recycled to the income statement — — 106 — 106 Costs of hedging market to market — — (4 ) — (4 ) Costs of hedging reclassified to the income statement — — 57 — 57 Share of items relating to equity-accounted entities, net of tax — — 82 — 82 Income tax relating to items that may be reclassified — — (70 ) — (70 ) — 200 2,289 — 2,489 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 732 (404 ) — 328 Cash flow hedges that will subsequently be transferred to the balance sheet — — (3 ) — (3 ) Income tax relating to items that will not be reclassified — (331 ) 174 — (157 ) — 401 (233 ) — 168 Other comprehensive income — 601 2,056 — 2,657 Equity-accounted other comprehensive income of subsidiaries — 2,047 — (2,047 ) — Total comprehensive income 60 6,674 8,076 (7,963 ) 6,847 Attributable to BP shareholders 60 6,674 7,903 (7,963 ) 6,674 Non-controlling interests — — 173 — 173 60 6,674 8,076 (7,963 ) 6,847 Statement of comprehensive income continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 916 9,383 10,221 (10,942 ) 9,578 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — (296 ) (3,475 ) — (3,771 ) Cash flow hedges (including reclassifications) — — (6 ) — (6 ) Costs of hedging (including reclassifications) — — (186 ) — (186 ) Share of items relating to equity-accounted entities, net of tax — — 417 — 417 Income tax relating to items that may be reclassified — — 4 — 4 — (296 ) (3,246 ) — (3,542 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 1,689 628 — 2,317 Cash flow hedges that will subsequently be transferred to the balance sheet — — (37 ) — (37 ) Income tax relating to items that will not be reclassified — (511 ) (207 ) — (718 ) — 1,178 384 — 1,562 Other comprehensive income — 882 (2,862 ) — (1,980 ) Equity-accounted other comprehensive income of subsidiaries — (2,821 ) — 2,821 — Total comprehensive income 916 7,444 7,359 (8,121 ) 7,598 Attributable to BP shareholders 916 7,444 7,205 (8,121 ) 7,444 Non-controlling interests — — 154 — 154 916 7,444 7,359 (8,121 ) 7,598 38 . Condensed consolidating information on certain US subsidiaries – continued Statement of comprehensive income continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 830 3,398 3,685 (4,445 ) 3,468 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — 166 1,820 — 1,986 Exchange (gains) losses on translation of foreign operations transferred to gain or loss on sale of businesses and fixed assets — — (120 ) — (120 ) Available-for-sale investments marked to market — — 14 — 14 Cash flow hedges marked to market — — 197 — 197 Cash flow hedges reclassified to the income statement — — 116 — 116 Cash flow hedges reclassified to the balance sheet — — 112 — 112 Share of items relating to equity-accounted entities, net of tax — — 564 — 564 Income tax relating to items that may be reclassified — — (196 ) — (196 ) — 166 2,507 — 2,673 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 2,984 662 — 3,646 Income tax relating to items that will not be reclassified — (1,169 ) (134 ) — (1,303 ) — 1,815 528 — 2,343 Other comprehensive income — 1,981 3,035 — 5,016 Equity-accounted other comprehensive income of subsidiaries — 2,983 — (2,983 ) — Total comprehensive income 830 8,362 6,720 (7,428 ) 8,484 Attributable to BP shareholders 830 8,362 6,589 (7,428 ) 8,353 Non-controlling interests — — 131 — 131 830 8,362 6,720 (7,428 ) 8,484 38 . Condensed consolidating information on certain US subsidiaries – continued Balance sheet $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Non-current assets Property, plant and equipment — — 132,642 — 132,642 Goodwill — — 11,868 — 11,868 Intangible assets — — 15,539 — 15,539 Investments in joint ventures — — 9,991 — 9,991 Investments in associates — 2 20,332 — 20,334 Other investments — — 1,276 — 1,276 Subsidiaries - equity-accounted basis — 167,895 — (167,895 ) — Fixed assets — 167,897 191,648 (167,895 ) 191,650 Loans — — 32,524 (31,894 ) 630 Trade and other receivables — 2,771 2,147 (2,771 ) 2,147 Derivative financial instruments — — 6,314 — 6,314 Prepayments — — 781 — 781 Deferred tax assets — — 4,560 — 4,560 Defined benefit pension plan surpluses — 6,588 465 — 7,053 — 177,256 238,439 (202,560 ) 213,135 Current assets Loans — — 339 — 339 Inventories 44 — 20,836 — 20,880 Trade and other receivables 690 135 42,157 (18,540 ) 24,442 Derivative financial instruments — — 4,153 — 4,153 Prepayments — — 857 — 857 Current tax receivable 45 — 1,237 — 1,282 Other investments — — 169 — 169 Cash and cash equivalents — — 22,472 — 22,472 779 135 92,220 (18,540 ) 74,594 Assets classified as held for sale 5,023 — 2,442 — 7,465 5,802 135 94,662 (18,540 ) 82,059 Total assets 5,802 177,391 333,101 (221,100 ) 295,194 Current liabilities Trade and other payables 436 17,986 46,947 (18,540 ) 46,829 Derivative financial instruments — — 3,261 — 3,261 Accruals 347 21 4,698 — 5,066 Lease liabilities — — 2,067 — 2,067 Finance debt — — 10,487 — 10,487 Current tax payable — — 2,039 — 2,039 Provisions — — 2,453 — 2,453 783 18,007 71,952 (18,540 ) 72,202 Liabilities directly associated with assets classified as held for sale 706 — 687 — 1,393 1,489 18,007 72,639 (18,540 ) 73,595 Non-current liabilities Other payables — 31,927 15,364 (34,665 ) 12,626 Derivative financial instruments — — 5,537 — 5,537 Accruals — — 996 — 996 Lease liabilities — — 7,655 — 7,655 Finance debt — — 57,237 — 57,237 Deferred tax liabilities 456 2,293 7,001 — 9,750 Provisions 114 — 18,384 — 18,498 Defined benefit pension plan and other post-retirement benefit plan deficits — 202 8,390 — 8,592 570 34,422 120,564 (34,665 ) 120,891 Total liabilities 2,059 52,429 193,203 (53,205 ) 194,486 Net assets 3,743 124,962 139,898 (167,895 ) 100,708 Equity BP shareholders’ equity 3,743 124,962 137,602 (167,895 ) 98,412 Non-controlling interests — — 2,296 — 2,296 3,743 124,962 139,898 (167,895 ) 100,708 38 . Condensed consolidating information on certain US subsidiaries – continued Balance sheet continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Non-current assets Property, plant and equipment 4,445 — 130,816 — 135,261 Goodwill — — 12,204 — 12,204 Intangible assets 598 — 16,686 — 17,284 Investments in joint ventures — — 8,647 — 8,647 Investments in associates — 2 17,671 — 17,673 Other investments — — 1,341 — 1,341 Subsidiaries - equity-accounted basis — 166,311 — (166,311 ) — Fixed assets 5,043 166,313 187,365 (166,311 ) 192,410 Loans — — 32,402 (31,765 ) 637 Trade and other receivables — 2,600 1,834 (2,600 ) 1,834 Derivative financial instruments — — 5,145 — 5,145 Prepayments — — 1,179 — 1,179 Deferred tax assets — — 3,706 — 3,706 Defined benefit pension plan surpluses — 5,473 482 — 5,955 5,043 174,386 232,113 (200,676 ) 210,866 Current assets Loans — — 326 — 326 Inventories 302 — 17,686 — 17,988 Trade and other receivables 2,536 151 38,931 (17,140 ) 24,478 Derivative financial instruments — — 3,846 — 3,846 Prepayments 7 — 956 — 963 Current tax receivable — — 1,019 — 1,019 Other investments — — 222 — 222 Cash and cash equivalents — 13 22,455 — 22,468 2,845 164 85,441 (17,140 ) 71,310 Total assets 7,888 174,550 317,554 (217,816 ) 282,176 Current liabilities Trade and other payables 413 14,634 48,358 (17,140 ) 46,265 Derivative financial instruments — — 3,308 — 3,308 Accruals 89 31 4,506 — 4,626 Lease liabilities — — 44 — 44 Finance debt — — 9,329 — 9,329 Current tax payable 310 — 1,791 — 2,101 Provisions 1 — 2,563 — 2,564 813 14,665 69,899 (17,140 ) 68,237 Non-current liabilities Other payables — 31,800 16,395 (34,365 ) 13,830 Derivative financial instruments — — 5,625 — 5,625 Accruals — — 575 — 575 Lease liabilities — — 623 — 623 Finance debt — — 55,803 — 55,803 Deferred tax liabilities 586 1,907 7,319 — 9,812 Provisions 670 — 17,062 — 17,732 Defined benefit pension plan and other post-retirement benefit plan deficits — 184 8,207 — 8,391 1,256 33,891 111,609 (34,365 ) 112,391 Total liabilities 2,069 48,556 181,508 (51,505 ) 180,628 Net assets 5,819 125,994 136,046 (166,311 ) 101,548 Equity BP shareholders’ equity 5,819 125,994 133,942 (166,311 ) 99,444 Non-controlling interests — — 2,104 — 2,104 5,819 125,994 136,046 (166,311 ) 101,548 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 20 4,082 9,968 (5,916 ) 8,154 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 631 — 631 Depreciation, depletion and amortization 169 — 17,611 — 17,780 Impairment and (gain) loss on sale of businesses and fixed assets 743 — 7,139 — 7,882 Earnings from joint ventures and associates — — (3,257 ) — (3,257 ) Dividends received from joint ventures and associates — — 1,962 — 1,962 Equity accounted income of subsidiaries - after interest and tax — (5,916 ) — 5,916 — Dividends received from subsidiaries — 6,360 — (6,360 ) — Interest receivable (1 ) — (2,228 ) 1,788 (441 ) Interest received 1 12 2,191 (1,788 ) 416 Finance costs 17 — 5,260 (1,788 ) 3,489 Interest paid (6 ) — (4,652 ) 1,788 (2,870 ) Net finance expense relating to pensions and other post-retirement benefits — (153 ) 216 — 63 Share-based payments — 739 (9 ) — 730 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (10 ) (228 ) — (238 ) Net charge for provisions, less payments 21 — (197 ) — (176 ) (Increase) decrease in inventories (31 ) — (3,375 ) — (3,406 ) (Increase) decrease in other current and non-current assets (132 ) (155 ) (2,048 ) — (2,335 ) Increase (decrease) in other current and non-current liabilities 1,954 3,469 (2,600 ) — 2,823 Income taxes paid (444 ) (1 ) (4,992 ) — (5,437 ) Net cash provided by (used in) operating activities 2,311 8,427 21,392 (6,360 ) 25,770 Investing activities Expenditure on property, plant and equipment, intangible and other assets (173 ) — (15,245 ) — (15,418 ) Acquisitions, net of cash acquired — — (3,562 ) — (3,562 ) Investment in joint ventures — — (137 ) — (137 ) Investment in associates — — (304 ) — (304 ) Total cash capital expenditure (173 ) — (19,248 ) — (19,421 ) Proceeds from disposals of fixed assets 19 — 481 — 500 Proceeds from disposals of businesses, net of cash disposed — — 1,701 — 1,701 Proceeds from loan repayments 21 — 225 — 246 Net cash provided by (used in) investing activities (133 ) — (16,841 ) — (16,974 ) Financing activities Repurchase of shares — (1,511 ) — — (1,511 ) Lease liability payments (46 ) — (2,326 ) — (2,372 ) Proceeds from long-term financing — — 8,597 — 8,597 Repayments of long-term financing — — (7,118 ) — (7,118 ) Net increase (decrease) in short-term debt — — 180 — 180 Net increase (decrease) in non-controlling interests — — 566 — 566 Dividends paid BP shareholders (2,132 ) (6,929 ) (4,245 ) 6,360 (6,946 ) Non-controlling interests — — (213 ) — (213 ) Net cash provided by (used in) financing activities (2,178 ) (8,440 ) (4,559 ) 6,360 (8,817 ) Currency translation differences relating to cash and cash equivalents — — 25 — 25 Increase (decrease) in cash and cash equivalents — (13 ) 17 — 4 Cash and cash equivalents at beginning of year — 13 22,455 — 22,468 Cash and cash equivalents at end of year — — 22,472 — 22,472 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 1,080 9,442 17,143 (10,942 ) 16,723 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 1,085 — 1,085 Depreciation, depletion and amortization 377 — 15,080 — 15,457 Impairment and (gain) loss on sale of businesses and fixed assets 66 — 338 — 404 Earnings from joint ventures and associates — — (3,753 ) — (3,753 ) Dividends received from joint ventures and associates — — 1,535 — 1,535 Equity accounted income of subsidiaries - after interest and tax — (10,942 ) — 10,942 — Dividends received from subsidiaries — 3,490 — (3,490 ) — Interest receivable (42 ) (215 ) (1,776 ) 1,565 (468 ) Interest received 42 215 1,656 (1,565 ) 348 Finance costs 8 1,326 2,759 (1,565 ) 2,528 Interest paid (8 ) (1,326 ) (2,159 ) 1,565 (1,928 ) Net finance expense relating to pensions and other post-retirement benefits — (95 ) 222 — 127 Share-based payments — 671 19 — 690 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (183 ) (203 ) — (386 ) Net charge for provisions, less payments 33 — 953 — 986 (Increase) decrease in inventories (62 ) — 734 — 672 (Increase) decrease in other current and non-current assets (72 ) 165 (951 ) (2,000 ) (2,858 ) Increase (decrease) in other current and non-current liabilities (491 ) 4,509 (6,595 ) — (2,577 ) Income taxes paid (133 ) — (5,579 ) — (5,712 ) Net cash provided by operating activities 798 7,057 20,508 (5,490 ) 22,873 Investing activities Expenditure on property, plant and equipment, intangible and other assets (273 ) — (16,434 ) — (16,707 ) Acquisitions, net of cash acquired — — (6,986 ) — (6,986 ) Investment in joint ventures — — (382 ) — (382 ) Investment in associates — — (1,013 ) — (1,013 ) Total cash capital expenditure (273 ) — (24,815 ) — (25,088 ) Proceeds from disposals of fixed assets — — 940 — 940 Proceeds from disposals of businesses, net of cash disposed 1,475 — 436 — 1,911 Proceeds from loan repayments — — 666 — 666 Net cash provided by (used in) investing activities 1,202 — (22,773 ) — (21,571 ) Financing activities Repurchase of shares — (355 ) — — (355 ) Lease liability payments — — (35 ) — (35 ) Proceeds from long-term financing — — 9,038 — 9,038 Repayments of long-term financing — — (7,175 ) — (7,175 ) Net increase (decrease) in short-term debt — — 1,317 — 1,317 Dividends paid BP shareholders (2,000 ) (6,699 ) (3,490 ) 5,490 (6,699 ) Non-controlling interests — — (170 ) — (170 ) Net cash provided by (used in) financing activities (2,000 ) (7,054 ) (515 ) 5,490 (4,079 ) Currency translation differences relating to cash and cash equivalents — — (330 ) — (330 ) Increase (decrease) in cash and cash equivalents — 3 (3,110 ) — (3,107 ) Cash and cash equivalents at beginning of year — 10 25,565 — 25,575 Cash and cash equivalents at end of year — 13 22,455 — 22,468 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 438 3,387 7,800 (4,445 ) 7,180 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 1,603 — 1,603 Depreciation, depletion and amortization 735 — 14,849 — 15,584 Impairment and (gain) loss on sale of businesses and fixed assets (71 ) (9 ) 77 9 6 Earnings from joint ventures and associates — — (2,507 ) — (2,507 ) Dividends received from joint ventures and associates — — 1,253 — 1,253 Equity accounted income of subsidiaries - after interest and tax — (4,436 ) — 4,436 — Dividends received from (paid to) subsidiaries — 3,183 — (3,183 ) — Interest receivable (11 ) (220 ) (1,117 ) 1,044 (304 ) Interest received 11 220 1,188 (1,044 ) 375 Finance costs 6 826 2,286 (1,044 ) 2,074 Interest paid (6 ) (826 ) (1,784 ) 1,044 (1,572 ) Net finance expense relating to pensions and other post-retirement benefits — (15 ) 235 — 220 Share-based payments — 595 66 — 661 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (145 ) (249 ) — (394 ) Net charge for provisions, less payments (128 ) — 2,234 — 2,106 (Increase) decrease in inventories (25 ) — (823 ) — (848 ) (Increase) decrease in other current and non-current assets 108 522 (5,478 ) — (4,848 ) Increase (decrease) in other current and non-current liabilities (830 ) 3,374 (200 ) — 2,344 Income taxes paid — — (4,002 ) — (4,002 ) Net cash provided by operating activities 227 6,456 15,431 (3,183 ) 18,931 Investing activities Expenditure on property, plant and equipment, intangible and other assets (321 ) — (16,241 ) — (16,562 ) Acquisitions, net of cash acquired — — (327 ) — (327 ) Investment in joint ventures — — (50 ) — (50 ) Investment in associates — — (901 ) — (901 ) Total cash capital expenditure (321 ) — (17,519 ) — (17,840 ) Proceeds from disposals of fixed assets 94 — 2,842 — 2,936 Proceeds from disposals of businesses, net of cash disposed — — 478 — 478 Proceeds from loan repayments — — 349 — 349 Net cash provided by (used in) investing activities (227 ) — (13,850 ) — (14,077 ) Financing activities Net issue (repurchase) of shares — (343 ) — — (343 ) Lease liability payments — — (45 ) — (45 ) Proceeds from long-term financing — — 8,712 — 8,712 Repayments of long-term financing — — (6,231 ) — (6,231 ) Net increase (decrease) in short-term debt — — (158 ) — (158 ) Net increase (decrease) in non-controlling interests — — 1,063 — 1,063 Dividends paid BP shareholders — (6,153 ) (3,183 ) 3,183 (6,153 ) Non-controlling interests — — (141 ) — (141 ) Net cash provided by (used in) financing activities — (6,496 ) 17 3,183 (3,296 ) Currency translation differences relating to cash and cash equivalents — — 544 — 544 Increase (decrease) in cash and cash equivalents — (40 ) 2,142 — 2,102 Cash and cash equivalents at beginning of year — 50 23,434 — 23,484 Cash and cash equivalents at end of year — 10 25,576 — 25,586

Significant accounting polici_2

Significant accounting policies, judgements, estimates and assumptions (Policies)	12 Months Ended
	Dec. 31, 2019
Corporate Information And Statement Of IFRS Compliance [Abstract]
Authorization of financial statements and statement of compliance with International Financial Reporting Standards and Basis of preparation	Authorization of financial statements and statement of compliance with International Financial Reporting Standards The consolidated financial statements of BP p.l.c and its subsidiaries (collectively referred to as BP or the group) for the year ended 31 December 2019 were approved and signed by the chief executive officer and chairman on 18 March 2020 having been duly authorized to do so by the board of directors. BP p.l.c. is a public limited company incorporated and domiciled in England and Wales. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union (EU) and in accordance with the provisions of the UK Companies Act 2006 as applicable to companies reporting under IFRS. IFRS as adopted by the EU differs in certain respects from IFRS as issued by the IASB. The differences have no impact on the group’s consolidated financial statements for the years presented. The significant accounting policies and accounting judgements, estimates and assumptions of the group are set out below. Basis of preparation The consolidated financial statements have been prepared on a going concern basis and in accordance with IFRS and IFRS Interpretations Committee (IFRIC) interpretations issued and effective for the year ended 31 December 2019 . The accounting policies that follow have been consistently applied to all years presented, except where otherwise indicated. The consolidated financial statements are presented in US dollars and all values are rounded to the nearest million dollars ($ million), except where otherwise indicated.
Use of judgements, estimates and assumptions	Significant accounting policies: use of judgements, estimates and assumptions Inherent in the application of many of the accounting policies used in preparing the consolidated financial statements is the need for BP management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual outcomes could differ from the estimates and assumptions used. The accounting judgements and estimates that have a significant impact on the results of the group are set out in boxed text below, and should be read in conjunction with the information provided in the Notes on financial statements. The areas requiring the most significant judgement and estimation in the preparation of the consolidated financial statements are: accounting for the investment in Rosneft; exploration and appraisal intangible assets; the recoverability of asset carrying values, including the estimation of reserves; derivative financial instruments; provisions and contingencies; and pensions and other post-retirement benefits. Where an estimate has a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year this is specifically noted within the boxed text. The group does not consider income taxes to represent a significant estimate or judgement for 2019, see Income taxes for more information.
Basis of consolidation	Basis of consolidation The group financial statements consolidate the financial statements of BP p.l.c. and its subsidiaries drawn up to 31 December each year. Subsidiaries are consolidated from the date of their acquisition, being the date on which the group obtains control, and continue to be consolidated until the date that control ceases. The financial statements of subsidiaries are prepared for the same reporting year as the parent company, using consistent accounting policies. Intra-group balances and transactions, including unrealized profits arising from intra-group transactions, have been eliminated. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Non-controlling interests represent the equity in subsidiaries that is not attributable, directly or indirectly, to BP shareholders.
Business combinations and goodwill	Business combinations and goodwill Business combinations are accounted for using the acquisition method. The identifiable assets acquired and liabilities assumed are recognized at their fair values at the acquisition date. Goodwill is initially measured as the excess of the aggregate of the consideration transferred, the amount recognized for any non-controlling interest and the acquisition-date fair values of any previously held interest in the acquiree over the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date. The amount recognized for any non-controlling interest is measured at the present ownership's proportionate share in the recognized amounts of the acquiree’s identifiable net assets. At the acquisition date, any goodwill acquired is allocated to each of the cash-generating units, or groups of cash-generating units, expected to benefit from the combination’s synergies. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill arising on business combinations prior to 1 January 2003 is stated at the previous carrying amount under UK generally accepted accounting practice, less subsequent impairments. See Note 14 for further information. Goodwill may arise upon investments in joint ventures and associates, being the surplus of the cost of investment over the group’s share of the net fair value of the identifiable assets and liabilities. Any such goodwill is recorded within the corresponding investment in joint ventures and associates. Goodwill may also arise upon acquisition of interests in joint operations that meet the definition of a business. The amount of goodwill separately recognized is the excess of the consideration transferred over the group's share of the net fair value of the identifiable assets and liabilities.
Interests in joint arrangements and associates	Interests in joint arrangements The results, assets and liabilities of joint ventures are incorporated in these consolidated financial statements using the equity method of accounting as described below. Certain of the group’s activities, particularly in the Upstream segment, are conducted through joint operations. BP recognizes, on a line-by-line basis in the consolidated financial statements, its share of the assets, liabilities and expenses of these joint operations incurred jointly with the other partners, along with the group’s income from the sale of its share of the output and any liabilities and expenses that the group has incurred in relation to the joint operation. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Interests in associates The results, assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method of accounting as described below. Significant judgement: investment in Rosneft Judgement is required in assessing the level of control or influence over another entity in which the group holds an interest. For BP, the judgement that the group has significant influence over Rosneft Oil Company (Rosneft), a Russian oil and gas company is significant. As a consequence of this judgement, BP uses the equity method of accounting for its investment and BP's share of Rosneft's oil and natural gas reserves is included in the group's estimated net proved reserves of equity-accounted entities. If significant influence was not present, the investment would be accounted for as an investment in an equity instrument measured at fair value as described under 'Financial assets' below and no share of Rosneft's oil and natural gas reserves would be reported. Significant influence is defined in IFRS as the power to participate in the financial and operating policy decisions of the investee but is not control or joint control of those policies. Significant influence is presumed when an entity owns 20% or more of the voting power of the investee. Significant influence is presumed not to be present when an entity owns less than 20% of the voting power of the investee. BP owns 19.75% of the voting shares of Rosneft. The Russian federal government, through its investment company JSC Rosneftegaz, owned 50% plus one share of the voting shares of Rosneft at 31 December 2019. IFRS identifies several indicators that may provide evidence of significant influence, including representation on the board of directors of the investee and participation in policy-making processes. BP’s group chief executive, as at 31 December 2019, Bob Dudley, has been a member of the board of directors of Rosneft since 2013 and remains one of BP's nominated directors following his resignation as BP's group chief executive. He is also chairman of the Rosneft board’s Strategic Planning Committee. A second BP-nominated director, Guillermo Quintero, has been a member of the Rosneft board and its HR and Remuneration Committee since 2015. BP also holds the voting rights at general meetings of shareholders conferred by its 19.75% stake in Rosneft. BP's management consider, therefore, that the group has significant influence over Rosneft, as defined by IFRS. The equity method of accounting Under the equity method, an investment is carried on the balance sheet at cost plus post-acquisition changes in the group’s share of net assets of the entity, less distributions received and less any impairment in value of the investment. Loans advanced to equity-accounted entities that have the characteristics of equity financing are also included in the investment on the group balance sheet. The group income statement reflects the group’s share of the results after tax of the equity-accounted entity, adjusted to account for depreciation, amortization and any impairment of the equity-accounted entity’s assets based on their fair values at the date of acquisition. The group statement of comprehensive income includes the group’s share of the equity-accounted entity’s other comprehensive income. The group’s share of amounts recognized directly in equity by an equity-accounted entity is recognized in the group’s statement of changes in equity. Financial statements of equity-accounted entities are prepared for the same reporting year as the group. Where material differences arise in the accounting policies used by the equity-accounted entity and those used by BP, adjustments are made to those financial statements to bring the accounting policies used into line with those of the group. Unrealized gains on transactions between the group and its equity-accounted entities are eliminated to the extent of the group’s interest in the equity-accounted entity. The group assesses investments in equity-accounted entities for impairment whenever there is objective evidence that the investment is impaired. If any such objective evidence of impairment exists, the carrying amount of the investment is compared with its recoverable amount, being the higher of its fair value less costs of disposal and value in use. If the carrying amount exceeds the recoverable amount, the investment is written down to its recoverable amount.
Segmental reporting	Segmental reporting The group’s operating segments are established on the basis of those components of the group that are evaluated regularly by the group chief executive, BP’s chief operating decision maker, in deciding how to allocate resources and in assessing performance. The accounting policies of the operating segments are the same as the group’s accounting policies described in this note, except that IFRS requires that the measure of profit or loss disclosed for each operating segment is the measure that is provided regularly to the chief operating decision maker. For BP, this measure of profit or loss is replacement cost profit before interest and tax which reflects the replacement cost of inventories sold in the period and is arrived at by excluding inventory holding gains and losses from profit. Replacement cost profit for the group is not a recognized measure under IFRS. For further information see Note 5 . The accounting policies of the operating segments are the same as the group’s accounting policies described in Note 1 . However, IFRS requires that the measure of profit or loss disclosed for each operating segment is the measure that is provided regularly to the chief operating decision maker for the purposes of performance assessment and resource allocation. For BP, this measure of profit or loss is replacement cost profit or loss before interest and tax which reflects the replacement cost of supplies by excluding from profit or loss inventory holding gains and losses a . Replacement cost profit or loss for the group is not a recognized measure under IFRS. Sales between segments are made at prices that approximate market prices, taking into account the volumes involved. Segment revenues and segment results include transactions between business segments. These transactions and any unrealized profits and losses are eliminated on consolidation, unless unrealized losses provide evidence of an impairment of the asset transferred. Sales to external customers by region are based on the location of the group subsidiary which made the sale. The UK region includes the UK-based international activities of Downstream. All surpluses and deficits recognized on the group balance sheet in respect of pension and other post-retirement benefit plans are allocated to Other businesses and corporate. However, the periodic expense relating to these plans is allocated to the operating segments based upon the business in which the employees work. Certain financial information is provided separately for the US as this is an individually material country for BP, and for the UK as this is BP’s country of domicile. The group’s organizational structure reflects the various activities in which BP is engaged. At 31 December 2019 , BP had three reportable segments: Upstream, Downstream and Rosneft.
Foreign currency translation	Foreign currency translation In individual subsidiaries, joint ventures and associates, transactions in foreign currencies are initially recorded in the functional currency of those entities at the spot exchange rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the functional currency at the spot exchange rate on the balance sheet date. Any resulting exchange differences are included in the income statement, unless hedge accounting is applied. Non-monetary assets and liabilities, other than those measured at fair value, are not retranslated subsequent to initial recognition. In the consolidated financial statements, the assets and liabilities of non-US dollar functional currency subsidiaries, joint ventures, associates, and related goodwill, are translated into US dollars at the spot exchange rate on the balance sheet date. The results and cash flows of non-US dollar functional currency subsidiaries, joint ventures and associates are translated into US dollars using average rates of exchange. In the consolidated financial statements, exchange adjustments arising when the opening net assets and the profits for the year retained by non-US dollar functional currency subsidiaries, joint ventures and associates are translated into US dollars are recognized in a separate component of equity and reported in other comprehensive income. Exchange gains and losses arising on long-term intra-group foreign currency borrowings used to finance the group’s non-US dollar investments are also reported in other comprehensive income if the borrowings form part of the net investment in the subsidiary, joint venture or associate. On disposal or for certain partial disposals of a non-US dollar functional currency subsidiary, joint venture or associate, the related accumulated exchange gains and losses recognized in equity are reclassified from equity to the income statement.
Non-current assets held for sale	Non-current assets held for sale Non-current assets and disposal groups classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Significant non-current assets and disposal groups are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification as held for sale, and actions required to complete the plan of sale should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Property, plant and equipment and intangible assets are not depreciated or amortized once classified as held for sale.
Intangible assets	Intangible assets Intangible assets, other than goodwill, include expenditure on the exploration for and evaluation of oil and natural gas resources, computer software, patents, licences and trademarks and are stated at the amount initially recognized, less accumulated amortization and accumulated impairment losses. Intangible assets are carried initially at cost unless acquired as part of a business combination. Any such asset is measured at fair value at the date of the business combination and is recognized separately from goodwill if the asset is separable or arises from contractual or other legal rights. Intangible assets with a finite life, other than capitalized exploration and appraisal costs as described below, are amortized on a straight-line basis over their expected useful lives. For patents, licences and trademarks, expected useful life is the shorter of the duration of the legal agreement and economic useful life, and can range from three to fifteen years. Computer software costs generally have a useful life of three to five years. The expected useful lives of assets and the amortization method are reviewed on an annual basis and, if necessary, changes in useful lives or the amortization method are accounted for prospectively. Oil and natural gas exploration, appraisal and development expenditure Oil and natural gas exploration, appraisal and development expenditure is accounted for using the principles of the successful efforts method of accounting as described below. Licence and property acquisition costs Exploration licence and leasehold property acquisition costs are capitalized within intangible assets and are reviewed at each reporting date to confirm that there is no indication that the carrying amount exceeds the recoverable amount. This review includes confirming that exploration drilling is still under way or planned or that it has been determined, or work is under way to determine, that the discovery is economically viable based on a range of technical and commercial considerations, and sufficient progress is being made on establishing development plans and timing. If no future activity is planned, the remaining balance of the licence and property acquisition costs is written off. Lower value licences are pooled and amortized on a straight-line basis over the estimated period of exploration. Upon internal approval for development and recognition of proved reserves of oil and natural gas, the relevant expenditure is transferred to property, plant and equipment.
Exploration, appraisal, and development expenditure	Exploration and appraisal expenditure Geological and geophysical exploration costs are recognized as an expense as incurred. Costs directly associated with an exploration well are initially capitalized as an intangible asset until the drilling of the well is complete and the results have been evaluated. These costs include employee remuneration, materials and fuel used, rig costs and payments made to contractors. If potentially commercial quantities of hydrocarbons are not found, the exploration well costs are written off. If hydrocarbons are found and, subject to further appraisal activity, are likely to be capable of commercial development, the costs continue to be carried as an asset. If it is determined that development will not occur then the costs are expensed. Costs directly associated with appraisal activity undertaken to determine the size, characteristics and commercial potential of a reservoir following the initial discovery of hydrocarbons, including the costs of appraisal wells where hydrocarbons were not found, are initially capitalized as an intangible asset. Upon internal approval for development and recognition of proved reserves, the relevant expenditure is transferred to property, plant and equipment. The determination of whether potentially economic oil and natural gas reserves have been discovered by an exploration well is usually made within one year of well completion, but can take longer, depending on the complexity of the geological structure. Exploration wells that discover potentially economic quantities of oil and natural gas and are in areas where major capital expenditure (e.g. an offshore platform or a pipeline) would be required before production could begin, and where the economic viability of that major capital expenditure depends on the successful completion of further exploration or appraisal work in the area, remain capitalized on the balance sheet as long as such work is under way or firmly planned. Development expenditure Expenditure on the construction, installation and completion of infrastructure facilities such as platforms, pipelines and the drilling of development wells, including service and unsuccessful development or delineation wells, is capitalized within property, plant and equipment and is depreciated from the commencement of production as described below in the accounting policy for property, plant and equipment. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Significant judgement: exploration and appraisal intangible assets Judgement is required to determine whether it is appropriate to continue to carry costs associated with exploration wells and exploratory-type stratigraphic test wells on the balance sheet. This includes costs relating to exploration licences or leasehold property acquisitions. It is not unusual to have such costs remaining suspended on the balance sheet for several years while additional appraisal drilling and seismic work on the potential oil and natural gas field is performed or while the optimum development plans and timing are established.The costs are carried based on the current regulatory and political environment or any known changes to that environment. All such carried costs are subject to regular technical, commercial and management review on at least an annual basis to confirm the continued intent to develop, or otherwise extract value from, the discovery. Where this is no longer the case, the costs are immediately expensed. In scenarios where the expected time horizon for establishing the development plan is lengthy or uncertain, greater judgement is required. BP is in the exploration and appraisal phase in certain Canadian oil sands assets that require further advancement of low-carbon extraction technology in order to achieve optimum development. Sufficient technological progress is expected to be achieved and therefore BP continues to carry the capitalized costs on its balance sheet. The judgement disclosed in prior years in relation to expiring leases in the Gulf of Mexico is no longer considered to be significant following recent agreement of lease extensions with the US Bureau of Safety and Environmental Enforcement. The carrying amount of capitalized costs is included in Note 8.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment owned by the group is stated at cost, less accumulated depreciation and accumulated impairment losses. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into the location and condition necessary for it to be capable of operating in the manner intended by management, the initial estimate of any decommissioning obligation, if any, and, for assets that necessarily take a substantial period of time to get ready for their intended use, directly attributable general or specific finance costs. The purchase price or construction cost is the aggregate amount paid and the fair value of any other consideration given to acquire the asset. Expenditure on major maintenance refits or repairs comprises the cost of replacement assets or parts of assets, inspection costs and overhaul costs. Where an asset or part of an asset that was separately depreciated is replaced and it is probable that future economic benefits associated with the item will flow to the group, the expenditure is capitalized and the carrying amount of the replaced asset is derecognized. Inspection costs associated with major maintenance programmes are capitalized and amortized over the period to the next inspection. Overhaul costs for major maintenance programmes, and all other maintenance costs are expensed as incurred. Oil and natural gas properties, including certain related pipelines, are depreciated using a unit-of-production method. The cost of producing wells is amortized over proved developed reserves. Licence acquisition, common facilities and future decommissioning costs are amortized over total proved reserves. The unit-of-production rate for the depreciation of common facilities takes into account expenditures incurred to date, together with estimated future capital expenditure expected to be incurred relating to as yet undeveloped reserves expected to be processed through these common facilities. Information on the carrying amounts of the group’s oil and natural gas properties, together with the amounts recognized in the income statement as depreciation, depletion and amortization is contained in Note 12 and Note 5 respectively. Estimates of oil and natural gas reserves determined by applying US Securities and Exchange Commission regulations including the determination of prices using 12-month historical data are used to calculate depreciation, depletion and amortization charges for the group’s oil and gas properties. Therefore, the charges are not dependent on management forecasts of future oil and gas prices. The impact of changes in estimated proved reserves is dealt with prospectively by amortizing the remaining carrying value of the asset over the expected future production. Management does not believe that a reasonably possible change in the economic environment would result in a material change to the depreciation and amortization charge for other classes of assets. The estimation of oil and natural gas reserves and BP’s process to manage reserves bookings is described in Supplementary information on oil and natural gas on page 232 , which is unaudited. Details on BP’s proved reserves and production compliance and governance processes are provided on page 286. The 2019 movements in proved reserves are reflected in the tables showing movements in oil and natural gas reserves by region in Supplementary information on oil and natural gas (unaudited) on page 232 . Other property, plant and equipment is depreciated on a straight-line basis over its expected useful life. The typical useful lives of the group’s other property, plant and equipment are as follows: Land improvements 15 to 25 years Buildings 20 to 50 years Refineries 20 to 30 years Petrochemicals plants 20 to 30 years Pipelines 10 to 50 years Service stations 15 years Office equipment 3 to 7 years Fixtures and fittings 5 to 15 years The expected useful lives and depreciation method of property, plant and equipment are reviewed on an annual basis and, if necessary, changes in useful lives or the depreciation method are accounted for prospectively. An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in the income statement in the period in which the item is derecognized.
Impairment of property, plant and equipment, intangible assets, and goodwill	Impairment of property, plant and equipment, intangible assets, and goodwill The group assesses assets or groups of assets, called cash-generating units (CGUs), for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or CGU may not be recoverable; for example, changes in the group’s business plans, changes in the group’s assumptions about commodity prices, low plant utilization, evidence of physical damage or, for oil and gas assets, significant downward revisions of estimated reserves or increases in estimated future development expenditure or decommissioning costs. If any such indication of impairment exists, the group makes an estimate of the asset’s or CGU’s recoverable amount. Individual assets are grouped into CGUs for impairment assessment purposes at the lowest level at which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. A CGU’s recoverable amount is the higher of its fair value less costs of disposal and its value in use. If it is probable that the value of the CGU will be primarily recovered through a disposal transaction, the expected disposal proceeds are considered in determining the recoverable amount. Where the carrying amount of a CGU exceeds its recoverable amount, the CGU is considered impaired and is written down to its recoverable amount. The business segment plans, which are approved on an annual basis by senior management, are the primary source of information for the determination of value in use. They contain forecasts for oil and natural gas production, refinery throughputs, sales volumes for various types of refined products (e.g. gasoline and lubricants), revenues, costs and capital expenditure. As an initial step in the preparation of these plans, various assumptions regarding market conditions, such as oil prices, natural gas prices, refining margins, refined product margins and cost inflation rates are set by senior management. These assumptions take account of existing prices, global supply-demand equilibrium for oil and natural gas, other macroeconomic factors and historical trends and variability. In assessing value in use, the estimated future cash flows are adjusted for the risks specific to the asset group that are not reflected in the discount rate and are discounted to their present value typically using a pre-tax discount rate that reflects current market assessments of the time value of money. Fair value less costs of disposal is the price that would be received to sell the asset in an orderly transaction between market participants and does not reflect the effects of factors that may be specific to the group and not applicable to entities in general. In limited circumstances where recent market transactions are not available for reference, discounted cash flow techniques are applied. Where discounted cash flow analyses are used to calculate fair value less costs of disposal, estimates are made about the assumptions market participants would use when pricing the asset, CGU or group of CGUs containing goodwill and the test is performed on a post-tax basis. An assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to the lower of its recoverable amount and the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Impairment reversals are recognized in profit or loss. After a reversal, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life. Goodwill is reviewed for impairment annually or more frequently if events or changes in circumstances indicate the recoverable amount of the group of CGUs to which the goodwill relates should be assessed. In assessing whether goodwill has been impaired, the carrying amount of the group of CGUs to which goodwill has been allocated is compared with its recoverable amount. Where the recoverable amount of the group of CGUs is less than the carrying amount (including goodwill), an impairment loss is recognized. An impairment loss recognized for goodwill is not reversed in a subsequent period. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Significant judgements and estimates: recoverability of asset carrying values Determination as to whether, and by how much, an asset, CGU, or group of CGUs containing goodwill is impaired involves management estimates on highly uncertain matters such as the effects of inflation and deflation on operating expenses, discount rates, production profiles, reserves and resources, and future commodity prices, including the outlook for global or regional market supply-and-demand conditions for crude oil, natural gas and refined products. Judgement is required when determining the appropriate grouping of assets into a CGU or the appropriate grouping of CGUs for impairment testing purposes. For example, individual oil and gas properties may form separate CGUs whilst certain oil and gas properties with shared infrastructure may be grouped together to form a single CGU. Alternative groupings of assets or CGUs may result in a different outcome from impairment testing. See Note 14 for details on how these groupings have been determined in relation to the impairment testing of goodwill. As disclosed above, the recoverable amount of an asset is the higher of its value in use and its fair value less costs of disposal. Fair value less costs of disposal may be determined based on expected sales proceeds or similar recent market transaction data. Details of impairment charges and reversals recognized in the income statement are provided in Note 4 and details on the carrying amounts of assets are shown in Note 12, Note 14 and Note 15. The estimates for assumptions made in impairment tests in 2019 relating to discount rates and oil and gas properties are discussed below. Changes in the economic environment or other facts and circumstances may necessitate revisions to these assumptions and could result in a material change to the carrying values of the group's assets within the next financial year. Discount rates For discounted cash flow calculations, future cash flows are adjusted for risks specific to the CGU. Value-in-use calculations are typically discounted using a pre-tax discount rate based upon the cost of funding the group derived from an established model, adjusted to a pre-tax basis and incorporating a market participant capital structure. Fair value less costs of disposal calculations use the post-tax discount rate. The discount rates applied in impairment tests are reassessed each year. In 2019 the post-tax discount rate was 6% (2018 6%) and the pre-tax discount rate typically ranged from 7% to 13% (2018 9%) depending on the applicable tax rate in the geographic location of the CGU. Where the CGU is located in a country that is judged to be higher risk an additional premium of 1% to 4% was added to the discount rates (2018 2%). The judgement of classifying a country as higher risk and the applicable premium takes into account various economic and geopolitical factors. Oil and natural gas properties For oil and natural gas properties, expected future cash flows are estimated using management’s best estimate of future oil and natural gas prices and production and reserves volumes. The estimated future level of production in all impairment tests is based on assumptions about future commodity prices, production and development costs, field decline rates, current fiscal regimes and other factors. The recoverable amount of oil and gas properties is primarily sensitive to changes in the oil and gas price assumptions. Further sensitivity analysis may be performed if a specific oil and gas property is identified to have low headroom above its carrying amount. In 2019, the group identified oil and gas properties with carrying amounts totalling $25,092 million (2018 $22,000 million) where the headroom, as at the dates of the last impairment test performed on those assets, was less than or equal to 20% of the carrying value, including $1,256 million (2018 $1,345 million) in relation to equity-accounted entities. A change in the discount rate, reserves, resources or the oil and gas price assumptions in the next financial year may result in the recoverable amount of one or more of these assets falling below the current carrying amount. The recoverability of intangible exploration and appraisal expenditure is covered under Oil and natural gas exploration, appraisal and development expenditure above. Oil and natural gas prices The long-term price assumptions used for investment appraisal are recommended by the group chief economist after considering a range of external price, and supply and demand forecasts under various energy transition scenarios. They are reviewed and approved by management. As a result of the current uncertainty over the pace of transition to lower-carbon supply and demand and the social, political and environmental actions that will be taken to meet the goals of the Paris climate change agreement, the forecasts and scenarios considered include those where those goals are met as well as those where they are not met. The assumptions below represent management’s best estimate of future prices; they do not reflect a specific scenario and sit within the range of the external forecasts considered. The long-term price assumptions used to determine recoverable amount based on value-in-use impairments tests are derived from the central case investment appraisal assumptions (see page 19) of $70 per barrel for Brent and $4 per mmBtu for Henry Hub gas, both in 2015 prices (2018 $75 per barrel and $4 per mmBtu respectively, in 2015 prices). These long-term prices are applied from 2025 and 2032 respectively (2018 both from 2024) and continue to be inflated for the remaining life of the asset. The price assumptions used over the periods to 2025 and 2032 have been set such that there is a linear progression from our best estimate of 2020 prices, which were set by reference to 2019 average prices, to the long-term assumptions. The majority of BP’s reserves and resources that support the carrying value of the group’s oil and gas properties are expected to be produced over the next 10 years. Average prices (in real 2015 terms) used to estimate cash flows over this period are $67 per barrel for Brent and $3.1 per mmBtu for Henry Hub gas. Oil prices fell 10% in 2019 from 2018 due to trade tensions, a macroeconomic downturn, and a slight slowdown in oil demand. OPEC+ production restraint, unplanned outages, and sanctions on Venezuela and Iran kept prices from falling further. BP's long-term assumption for oil prices is higher than the 2019 price average, based on the judgement that current price levels would not encourage sufficient investment to meet global oil demand sustainably in the longer term, especially given the financial requirements of key low-cost oil producing economies. US gas prices dropped by around 15% in 2019 compared to 2018. After an initial spike in January, they remained relatively low for much of the year due to a combination of strong associated gas production growth, and storage levels coming back to normal. US gas demand growth was much lower than the exceptional increase in 2018, while LNG exports continued to expand. BP's long-term price assumption for US gas is higher than recent market prices due to forecast rising domestic demand, rapidly increasing pipeline and LNG exports, and lowest cost resources being absorbed leading to production of more expensive gas, as well as requiring increased investment in infrastructure. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Management tested the impact of a reduction in prices of 15% against the best estimate for Brent oil and Henry Hub gas in all future years. These price reductions in isolation could indicatively lead to a reduction in the carrying amount of BP’s oil and gas properties in the range of $2-3 billion, which is approximately 1-2% of the net book value of property, plant and equipment as at 31 December 2019. Management also tested the impact of a scenario where Brent oil and Henry Hub gas prices start 15% lower than the best estimate and gradually reduce to 25% lower than the best estimate by 2040. Although this is not considered to be a reasonably possible change in the long-term assumptions within the next financial year, it reflects the inherent uncertainty in forecasting long-term prices. These price reductions in isolation could indicatively lead to a reduction in the carrying amount of BP’s oil and gas properties in the range of $4-5 billion which is approximately 3-4% of the net book value of property, plant and equipment as at 31 December 2019. Additionally, such a price reduction does not indicate a reduction in the carrying amount of the Upstream goodwill balance. These sensitivity analyses do not, however, represent management’s best estimate of any impairments that might be recognized as they do not fully incorporate consequential changes that may arise, such as reductions in costs and changes to business plans, phasing of development, levels of reserves and resources, and production volumes. As the extent of a price reduction increases, the more likely it is that costs would decrease across the industry. The above sensitivity analyses therefore do not reflect a linear relationship between price and value that can be extrapolated. Past experience of performing impairment tests suggests that any impairment arising from such price reductions is likely to be lower once all these factors are taken into consideration. The interdependency of these inputs and risk factors plus the diverse characteristics of our oil and gas properties limits the practicability of estimating the probability or extent to which the overall recoverable amount is impacted by changes to the price assumptions. The decline in oil and natural gas prices in the first quarter of 2020 is not expected to materially impact the recoverable amount of the group’s oil and natural gas properties. Oil and natural gas reserves In addition to oil and natural gas prices, significant technical and commercial assessments are required to determine the group’s estimated oil and natural gas reserves. Reserves estimates are regularly reviewed and updated. Factors such as the availability of geological and engineering data, reservoir performance data, acquisition and divestment activity and drilling of new wells all impact on the determination of the group’s estimates of its oil and natural gas reserves. BP bases its proved reserves estimates on the requirement of reasonable certainty with rigorous technical and commercial assessments based on conventional industry practice and regulatory requirements. Reserves assumptions for value-in-use tests reflect the reserves and resources that management currently intend to develop. The recoverable amount of oil and gas properties is determined using a combination of inputs including reserves, resources and production volumes. Risk factors may be applied to reserves and resources which do not meet the criteria to be treated as proved. Goodwill Irrespective of whether there is any indication of impairment, BP is required to test annually for impairment of goodwill acquired in business combinations. The group carries goodwill of approximately $11.9 billion on its balance sheet (2018 $12.2 billion), principally relating to the Atlantic Richfield, Burmah Castrol, Devon Energy and Reliance transactions. Sensitivities and additional information relating to impairment testing of goodwill in the Upstream segment are provided in Note 14.
Inventories	Inventories Inventories, other than inventories held for short-term trading purposes, are stated at the lower of cost and net realizable value. Cost is determined by the first-in first-out method and comprises direct purchase costs, cost of production, transportation and manufacturing expenses. Net realizable value is determined by reference to prices existing at the balance sheet date, adjusted where the sale of inventories after the reporting period gives evidence about their net realizable value at the end of the period. Inventories held for short-term trading purposes are stated at fair value less costs to sell and any changes in fair value are recognized in the income statement. Supplies are valued at the lower of cost on a weighted average basis and net realizable value.
Leases	Leases Agreements that convey the right to control the use of an identified asset for a period of time in exchange for consideration are accounted for as leases. The right to control is conveyed if BP has both the right to obtain substantially all of the economic benefits from, and the right to direct the use of, the identified asset throughout the period of use. An asset is identified if it is explicitly or implicitly specified by the agreement and any substitution rights held by the lessor over the asset are not considered substantive. Agreements that convey the right to control the use of an intangible asset including rights to explore for or use hydrocarbons are not accounted for as leases. See significant accounting policy: intangible assets. A lease liability is recognized on the balance sheet on the lease commencement date at the present value of future lease payments over the lease term. The discount rate applied is the rate implicit in the lease if readily determinable, otherwise an incremental borrowing rate is used. The incremental borrowing rate is determined based on factors such as the group’s cost of borrowing, lessee legal entity credit risk, currency and lease term. The lease term is the non-cancellable period of a lease together with any periods covered by an extension option that BP is reasonably certain to exercise, or periods covered by a termination option that BP is reasonably certain not to exercise. The future lease payments included in the present value calculation are any fixed payments, payments that vary depending on an index or rate, payments due for the reasonably certain exercise of options and expected residual value guarantee payments. Payments that vary based on factors other than an index or a rate such as usage, sales volumes or revenues are not included in the present value calculation and are recognized in the income statement. The lease liability is recognized on an amortized cost basis with interest expense recognized in the income statement over the lease term, except for where capitalized as exploration, appraisal or development expenditure. The right-of-use asset is recognized on the balance sheet as property, plant and equipment at a value equivalent to the initial measurement of the lease liability adjusted for lease prepayments, lease incentives, initial direct costs and any restoration obligations. The right-of-use asset is depreciated typically on a straight-line basis over the lease term. The depreciation charge is recognized in the income statement except for where capitalized as exploration, appraisal or development expenditure. Right-of-use assets are assessed for impairment in line with the accounting policy for impairment of property, plant and equipment, intangible assets, and goodwill. Agreements may include both lease and non-lease components. Payments for lease and non-lease components are allocated on a relative stand-alone selling price basis except for leases of retail service stations where the group has elected not to separate non-lease payments from the calculation of the lease liability and right-of-use asset. 1 . Significant accounting policies, judgements, estimates and assumptions – continued If the lease term at commencement of the agreement is less than 12 months, a lease liability and right-of-use asset are not recognized, and a lease expense is recognized in the income statement on a straight-line basis. If a significant event or change in circumstances, within the control of BP, arises that affects the reasonably certain lease term or there are changes to the lease payments, the present value of the lease liability is remeasured using the revised term and payments, with the right-of-use asset adjusted by an equivalent amount. Modifications to a lease agreement beyond the original terms and conditions are accounted for as a re-measurement of the lease liability with a corresponding adjustment to the right-of-use asset. Any gain or loss on modification is recognized in the income statement. Modifications that increase the scope of the lease at a price commensurate with the stand-alone selling price are accounted for as a separate new lease. The group recognizes the full lease liability, rather than its working interest share, for leases entered into on behalf of a joint operation if the group has the primary responsibility for making the lease payments. In such cases, BP’s working interest share of the right-of-use asset is recognized if it is jointly controlled by the group and the other joint operators, and a receivable is recognized for the share of the asset transferred to the other joint operators. If BP is a non-operator, a payable to the operator is recognized if they have the primary responsibility for making the lease payments and BP has joint control over the right-of-use asset, otherwise no balances are recognized. As noted in ‘Impact of new International Financial Reporting Standards - IFRS 16 ‘Leases’, BP elected to apply the ‘modified retrospective’ transition approach on adoption of IFRS 16. Under this approach, comparative periods’ financial information is not restated. The accounting policy applicable for leases in the comparative periods only is disclosed in the following paragraphs. Agreements under which payments are made to owners in return for the right to use a specific asset are accounted for as leases. Leases that transfer substantially all the risks and rewards of ownership are recognized as finance leases. All other leases are accounted for as operating leases. Finance leases are capitalized at the commencement of the lease term at the fair value of the leased item or, if lower, at the present value of the minimum lease payments. Finance charges are allocated to each period so as to achieve a constant rate of interest on the remaining balance of the liability and are charged directly against income. Capitalized leased assets are depreciated over the shorter of the estimated useful life of the asset or the lease term. Operating lease payments are recognized as an expense on a straight-line basis over the lease term except where capitalized as exploration or appraisal expenditure. See significant accounting policy: Exploration and appraisal expenditure.
Financial assets	Financial assets Financial assets are recognized initially at fair value, normally being the transaction price. In the case of financial assets not at fair value through profit or loss, directly attributable transaction costs are also included. The subsequent measurement of financial assets depends on their classification, as set out below. The group derecognizes financial assets when the contractual rights to the cash flows expire or the rights to receive cash flows have been transferred to a third party along with either substantially all of the risks and rewards or control of the asset. This includes the derecognition of receivables for which discounting arrangements are entered into. The group classifies its financial asset debt instruments as measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss. The classification depends on the business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. Financial assets measured at amortized cost Financial assets are classified as measured at amortized cost when they are held in a business model the objective of which is to collect contractual cash flows and the contractual cash flows represent solely payments of principal and interest. Such assets are carried at amortized cost using the effective interest method if the time value of money is significant. Gains and losses are recognized in profit or loss when the assets are derecognized or impaired and when interest is recognized using the effective interest method. This category of financial assets includes trade and other receivables. Financial assets measured at fair value through other comprehensive income Financial assets are classified as measured at fair value through other comprehensive income when they are held in a business model the objective of which is both to collect contractual cash flows and sell the financial assets, and the contractual cash flows represent solely payments of principal and interest. The group does not have any financial assets classified in this category. Financial assets measured at fair value through profit or loss Financial assets are classified as measured at fair value through profit or loss when the asset does not meet the criteria to be measured at amortized cost or fair value through other comprehensive income. Such assets are carried on the balance sheet at fair value with gains or losses recognized in the income statement. Derivatives, other than those designated as effective hedging instruments, are included in this category. Investments in equity instruments Investments in equity instruments are subsequently measured at fair value through profit or loss unless an election is made on an instrument-by-instrument basis to recognise fair value gains and losses in other comprehensive income. The group does not have any investments for which this election has been made. Derivatives designated as hedging instruments in an effective hedge Derivatives designated as hedging instruments in an effective hedge are carried on the balance sheet at fair value. The treatment of gains and losses arising from revaluation is described below in the accounting policy for derivative financial instruments and hedging activities. Cash equivalents Cash equivalents are short-term highly liquid investments that are readily convertible to known amounts of cash, are subject to insignificant risk of changes in value and generally have a maturity of three months or less from the date of acquisition. Cash equivalents are classified as financial assets measured at amortized cost or, in the case of certain money market funds, fair value through profit or loss. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Impairment of financial assets measured at amortized cost The group assesses on a forward-looking basis the expected credit losses associated with financial assets classified as measured at amortized cost at each balance sheet date. Expected credit losses are measured based on the maximum contractual period over which the group is exposed to credit risk. As lifetime expected credit losses are recognized for trade receivables and the tenor of substantially all of other in-scope financial assets is less than 12 months there is no significant difference between the measurement of 12-month and lifetime expected credit losses for the group. The measurement of expected credit losses is a function of the probability of default, loss given default and exposure at default. The expected credit loss is estimated as the difference between the asset’s carrying amount and the present value of the future cash flows the group expects to receive discounted at the financial asset’s original effective interest rate. The carrying amount of the asset is adjusted, with the amount of the impairment gain or loss recognized in the income statement. A financial asset or group of financial assets classified as measured at amortized cost is considered to be credit-impaired if there is reasonable and supportable evidence that one or more events that have a detrimental impact on the estimated future cash flows of the financial asset (or group of financial assets) have occurred. Financial assets are written off where the group has no reasonable expectation of recovering amounts due.
Financial liabilities	Financial liabilities The measurement of financial liabilities depends on their classification, as follows: Financial liabilities measured at fair value through profit or loss Financial liabilities that meet the definition of held for trading are classified as measured at fair value through profit or loss. Such liabilities are carried on the balance sheet at fair value with gains or losses recognized in the income statement. Derivatives, other than those designated as effective hedging instruments, are included in this category. Derivatives designated as hedging instruments in an effective hedge Derivatives designated as hedging instruments in an effective hedge are carried on the balance sheet at fair value. The treatment of gains and losses arising from revaluation is described below in the accounting policy for derivative financial instruments and hedging activities. Financial liabilities measured at amortized cost All other financial liabilities are initially recognized at fair value, net of directly attributable transaction costs. For interest-bearing loans and borrowings this is typically equivalent to the fair value of the proceeds received, net of issue costs associated with the borrowing. After initial recognition, other financial liabilities are subsequently measured at amortized cost using the effective interest method. Amortized cost is calculated by taking into account any issue costs and any discount or premium on settlement. Gains and losses arising on the repurchase, settlement or cancellation of liabilities are recognized in interest and other income and finance costs respectively. This category of financial liabilities includes trade and other payables and finance debt. The group’s trade payables include some supplier arrangements that utilize letter of credit facilities (see Note 29 - Liquidity risk for further information). The group assesses the payables subject to these arrangements to determine whether they should continue to be classified as trade payables and give rise to operating cash flows or finance debt and financing cash flows. The criteria used in making this assessment include the payment terms for the amount due relative to terms commonly seen in the markets in which BP operates. Liabilities subject to these arrangements with payment terms of up to approximately 60 days are generally considered to be trade payables and give rise to operating cash flows. Derivative financial instruments and hedging activities The group uses derivative financial instruments to manage certain exposures to fluctuations in foreign currency exchange rates, interest rates and commodity prices, as well as for trading purposes. These derivative financial instruments are recognized initially at fair value on the date on which a derivative contract is entered into and subsequently remeasured at fair value. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Contracts to buy or sell a non-financial item (for example, oil, oil products, gas or power) that can be settled net in cash, with the exception of contracts that were entered into and continue to be held for the purpose of the receipt or delivery of a non-financial item in accordance with the group’s expected purchase, sale or usage requirements, are accounted for as financial instruments. Gains or losses arising from changes in the fair value of derivatives that are not designated as effective hedging instruments are recognized in the income statement. If, at inception of a contract, the valuation cannot be supported by observable market data, any gain or loss determined by the valuation methodology is not recognized in the income statement but is deferred on the balance sheet and is commonly known as ‘day-one gain or loss’. This deferred gain or loss is recognized in the income statement over the life of the contract until substantially all the remaining contract term can be valued using observable market data at which point any remaining deferred gain or loss is recognized in the income statement. Changes in valuation subsequent to the initial valuation at inception of a contract are recognized immediately in the income statement. For the purpose of hedge accounting, hedges are classified as: • Fair value hedges when hedging exposure to changes in the fair value of a recognized asset or liability. • Cash flow hedges when hedging exposure to variability in cash flows that is attributable to either a particular risk associated with a recognized asset or liability or a highly probable forecast transaction. Hedge relationships are formally designated and documented at inception, together with the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, the existence at inception of an economic relationship and subsequent measurement of the hedging instrument's effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows attributable to the hedged risk, the hedge ratio and sources of hedge ineffectiveness. Hedges meeting the criteria for hedge accounting are accounted for as follows: 1 . Significant accounting policies, judgements, estimates and assumptions – continued Fair value hedges The change in fair value of a hedging derivative is recognized in profit or loss. The change in the fair value of the hedged item attributable to the risk being hedged is recorded as part of the carrying value of the hedged item and is also recognized in profit or loss, where it offsets. The group applies fair value hedge accounting when hedging interest rate risk and certain currency risks on fixed rate finance debt. Fair value hedge accounting is discontinued only when the hedging relationship or a part thereof ceases to meet the qualifying criteria. This includes when the risk management objective changes or when the hedging instrument is sold, terminated or exercised. The accumulated adjustment to the carrying amount of a hedged item at such time is then amortized prospectively to profit or loss as finance interest expense over the hedged item's remaining period to maturity. Cash flow hedges The effective portion of the gain or loss on a cash flow hedging instrument is reported in other comprehensive income, while the ineffective portion is recognized in profit or loss. Amounts reported in other comprehensive income are reclassified to the income statement when the hedged transaction affects profit or loss. Where the hedged item is a highly probably forecast transaction that results in the recognition of a non-financial asset or liability, such as a forecast foreign currency transaction for the purchase of property, plant and equipment, the amounts recognized within other comprehensive income are transferred to the initial carrying amount of the non-financial asset or liability. Where the hedged item is an equity investment, the amounts recognized in other comprehensive income remain in the separate component of equity until the hedged cash flows affect profit or loss. Where the hedged item is recognized directly in profit or loss, the amounts recognized in other comprehensive income are reclassified to production and manufacturing expenses or sales and other operating revenues as appropriate. Cash flow hedge accounting is discontinued only when the hedging relationship or a part thereof ceases to meet the qualifying criteria. This includes when the designated hedged forecast transaction or part thereof is no longer considered to be highly probable to occur, or when the hedging instrument is sold, terminated or exercised without replacement or rollover. When cash flow hedge accounting is discontinued amounts previously recognized within other comprehensive income remain in equity until the forecast transaction occurs and are reclassified to profit or loss or transferred to the initial carrying amount of a non-financial asset or liability as above. If the forecast transaction is no longer expected to occur, amounts previously recognized within other comprehensive income will be immediately reclassified to profit or loss. Costs of hedging The foreign currency basis spread of cross-currency interest rate swaps are excluded from hedge designations and accounted for as costs of hedging. Changes in fair value of the foreign currency basis spread are recognized in other comprehensive income to the extent that they relate to the hedged item. For time-period related hedged items, the amount recognized in other comprehensive income is amortized to profit or loss on a straight line basis over the term of the hedging relationship.
Fair value measurement	Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The group categorizes assets and liabilities measured at fair value into one of three levels depending on the ability to observe inputs employed in their measurement. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs that are observable, either directly or indirectly, other than quoted prices included within level 1 for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability reflecting significant modifications to observable related market data or BP’s assumptions about pricing by market participants. Significant estimate and judgement: derivative financial instruments In some cases the fair values of derivatives are estimated using internal models due to the absence of quoted prices or other observable, market-corroborated data. This primarily applies to the group’s longer-term derivative contracts. The majority of these contracts are valued using models with inputs that include price curves for each of the different products that are built up from available active market pricing data (including volatility and correlation) and modelled using the maximum available external information. Additionally, where limited data exists for certain products, prices are determined using historical and long-term pricing relationships. The use of alternative assumptions or valuation methodologies may result in significantly different values for these derivatives. A reasonably possible change in the price assumptions used in the models relating to index price would not have a material impact on net assets and the Group income statement primarily as a result of offsetting movements between derivative assets and liabilities. For more information, including the carrying amounts of level 3 derivatives, see Note 30. In some cases, judgement is required to determine whether contracts to buy or sell commodities meet the definition of a derivative. In particular longer -term contracts to buy and sell LNG are not considered to meet the definition as they are not considered capable of being net settled due to a lack of liquidity in the LNG market and so are accounted for on an accruals basis, rather than as a derivative.
Offsetting of financial assets and liabilities	Offsetting of financial assets and liabilities Financial assets and liabilities are presented gross in the balance sheet unless both of the following criteria are met: the group currently has a legally enforceable right to set off the recognized amounts; and the group intends to either settle on a net basis or realize the asset and settle the liability simultaneously. A right of set off is the group’s legal right to settle an amount payable to a creditor by applying against it an amount receivable from the same counterparty. The relevant legal jurisdiction and laws applicable to the relationships between the parties are considered when assessing whether a current legally enforceable right to set off exists.
Provisions and contingencies, Decommissioning, Environmental expenditures and liabilities	Provisions and contingencies Provisions are recognized when the group has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Where appropriate, the future cash flow estimates are adjusted to reflect risks specific to the liability. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax risk-free rate that reflects current market assessments of the time value of money. Where discounting is used, the increase in the provision due to the passage of time is recognized within finance costs. Provisions are discounted using a nominal discount rate of 2.5% ( 2018 3.0% ). Provisions are split between amounts expected to be settled within 12 months of the balance sheet date (current) and amounts expected to be settled later (non-current). 1 . Significant accounting policies, judgements, estimates and assumptions – continued Contingent liabilities are possible obligations whose existence will only be confirmed by future events not wholly within the control of the group, or present obligations where it is not probable that an outflow of resources will be required or the amount of the obligation cannot be measured with sufficient reliability. Contingent liabilities are not recognized in the consolidated financial statements but are disclosed unless the possibility of an outflow of economic resources is considered remote. Decommissioning Liabilities for decommissioning costs are recognized when the group has an obligation to plug and abandon a well, dismantle and remove a facility or an item of plant and to restore the site on which it is located, and when a reliable estimate of that liability can be made. Where an obligation exists for a new facility or item of plant, such as oil and natural gas production or transportation facilities, this liability will be recognized on construction or installation. Similarly, where an obligation exists for a well, this liability is recognized when it is drilled. An obligation for decommissioning may also crystallize during the period of operation of a well, facility or item of plant through a change in legislation or through a decision to terminate operations; an obligation may also arise in cases where an asset has been sold but the subsequent owner is no longer able to fulfil its decommissioning obligations, for example due to bankruptcy. The amount recognized is the present value of the estimated future expenditure determined in accordance with local conditions and requirements. The provision for the costs of decommissioning wells, production facilities and pipelines at the end of their economic lives is estimated using existing technology, at future prices, depending on the expected timing of the activity, and discounted using the nominal discount rate. An amount equivalent to the decommissioning provision is recognized as part of the corresponding intangible asset (in the case of an exploration or appraisal well) or property, plant and equipment. The decommissioning portion of the property, plant and equipment is subsequently depreciated at the same rate as the rest of the asset. Other than the unwinding of discount on or utilisation of the provision, any change in the present value of the estimated expenditure is reflected as an adjustment to the provision and the corresponding asset where that asset is generating or is expected to generate future economic benefits. Environmental expenditures and liabilities Environmental expenditures that are required in order for the group to obtain future economic benefits from its assets are capitalized as part of those assets. Expenditures that relate to an existing condition caused by past operations that do not contribute to future earnings are expensed. Liabilities for environmental costs are recognized when a clean-up is probable and the associated costs can be reliably estimated. Generally, the timing of recognition of these provisions coincides with the commitment to a formal plan of action or, if earlier, on divestment or on closure of inactive sites. The amount recognized is the best estimate of the expenditure required to settle the obligation. Provisions for environmental liabilities have been estimated using existing technology, at future prices and discounted using a nominal discount rate. Significant judgements and estimates: provisions The group holds provisions for the future decommissioning of oil and natural gas production facilities and pipelines at the end of their economic lives. The largest decommissioning obligations facing BP relate to the plugging and abandonment of wells and the removal and disposal of oil and natural gas platforms and pipelines around the world. Most of these decommissioning events are many years in the future and the precise requirements that will have to be met when the removal event occurs are uncertain. Decommissioning technologies and costs are constantly changing, as are political, environmental, safety and public expectations. The timing and amounts of future cash flows are subject to significant uncertainty and estimation is required in determining the amounts of provisions to be recognized. Any changes in the expected future costs are reflected in both the provision and the asset. If oil and natural gas production facilities and pipelines are sold to third parties, judgement is required to assess whether the new owner will be unable to meet their decommissioning obligations, whether BP would then be responsible for decommissioning, and if so the extent of that responsibility. The group has assessed that no material decommissioning provisions should be recognized as at 31 December 2019 (2018 no material provisions) for assets sold to third parties where the sale transferred the decommissioning obligation to the new owner. Decommissioning provisions associated with downstream refineries and petrochemicals facilities are generally not recognized, as the potential obligations cannot be measured, given their indeterminate settlement dates. The group performs periodic reviews of its downstream refineries and petrochemicals long-lived assets for any changes in facts and circumstances that might require the recognition of a decommissioning provision. The provision for environmental liabilities is estimated based on current legal and constructive requirements, technology, price levels and expected plans for remediation. Actual costs and cash outflows can differ from current estimates because of changes in laws and regulations, public expectations, prices, discovery and analysis of site conditions and changes in clean-up technology. The timing and amount of future expenditures relating to decommissioning and environmental liabilities are reviewed annually, together with the interest rate used in discounting the cash flows. The interest rate used to determine the balance sheet obligations at the end of 2019 was a nominal rate of 2.5% (2018 a nominal rate of 3.0%), which was based on long-dated US government bonds. The weighted average period over which decommissioning and environmental costs are generally expected to be incurred is estimated to be approximately 18 years (2018 18 years) and 6 years (2018 6 years) respectively. Further information about the group’s provisions is provided in Note 23. Changes in assumptions in relation to the group's provisions could result in a material change in their carrying amounts within the next financial year. A 0.5% change in the nominal discount rate could have an impact of approximately $1.4 billion (2018 $1.3 billion) on the value of the group’s provisions. A two-year change in the timing of expected future decommissioning expenditures does not have a material impact on the value of the group’s decommissioning provision. Management do not consider a change of greater than two years to be reasonably possible either in the next financial year or as a result of changes in the longer-term economic environment. As described in Note 33, the group is subject to claims and actions for which no provisions have been recognized. The facts and circumstances relating to particular cases are evaluated regularly in determining whether a provision relating to a specific litigation should be recognized or revised. Accordingly, significant management judgement relating to provisions and contingent liabilities is required, since the outcome of litigation is difficult to predict.
Employee benefits and Pensions and other post-retirement benefits	Pensions and other post-retirement benefits The cost of providing benefits under the group’s defined benefit plans is determined separately for each plan using the projected unit credit method, which attributes entitlement to benefits to the current period to determine current service cost and to the current and prior periods to determine the present value of the defined benefit obligation. Past service costs, resulting from either a plan amendment or a curtailment (a reduction in future obligations as a result of a material reduction in the plan membership), are recognized immediately when the company becomes committed to a change. Net interest expense relating to pensions and other post-retirement benefits, which is recognized in the income statement, represents the net change in present value of plan obligations and the value of plan assets resulting from the passage of time, and is determined by applying the discount rate to the present value of the benefit obligation at the start of the year, and to the fair value of plan assets at the start of the year, taking into account expected changes in the obligation or plan assets during the year. Remeasurements of the defined benefit liability and asset, comprising actuarial gains and losses, and the return on plan assets (excluding amounts included in net interest described above) are recognized within other comprehensive income in the period in which they occur and are not subsequently reclassified to profit and loss. The defined benefit pension plan surplus or deficit recognized on the balance sheet for each plan comprises the difference between the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds) and the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information and, in the case of quoted securities, is the published bid price. Defined benefit pension plan surpluses are only recognized to the extent they are recoverable, either by way of a refund from the plan or reductions in future contributions to the plan. Contributions to defined contribution plans are recognized in the income statement in the period in which they become payable. Significant estimate: pensions and other post-retirement benefits Accounting for defined benefit pensions and other post-retirement benefits involves making significant estimates when measuring the group's pension plan surpluses and deficits. These estimates require assumptions to be made about many uncertainties. Pensions and other post-retirement benefit assumptions are reviewed by management at the end of each year. These assumptions are used to determine the projected benefit obligation at the year end and hence the surpluses and deficits recorded on the group's balance sheet, and pension and other post-retirement benefit expense for the following year. The assumptions that are the most significant to the amounts reported are the discount rate, inflation rate, salary growth and mortality levels. Assumptions about these variables are based on the environment in each country. The assumptions used vary from year to year, with resultant effects on future net income and net assets. Changes to some of these assumptions, in particular the discount rate and inflation rate, could result in material changes to the carrying amounts of the group's pension and other post-retirement benefit obligations within the next financial year, in particular for the UK, US and Eurozone plans. Any differences between these assumptions and the actual outcome will also affect future net income and net assets. The values ascribed to these assumptions and a sensitivity analysis of the impact of changes in the assumptions on the benefit expense and obligation used are provided in Note 24. Employee benefits Wages, salaries, bonuses, social security contributions, paid annual leave and sick leave are accrued in the period in which the associated services are rendered by employees of the group. Deferred bonus arrangements that have a vesting date more than 12 months after the balance sheet date are valued on an actuarial basis using the projected unit credit method and amortized on a straight-line basis over the service period until the award vests. The accounting policies for share-based payments and for pensions and other post-retirement benefits are described below.
Share-based payments	Share-based payments Equity-settled transactions The cost of equity-settled transactions with employees is measured by reference to the fair value of the equity instruments on the date on which they are granted and is recognized as an expense over the vesting period, which ends on the date on which the employees become fully entitled to the award. A corresponding credit is recognized within equity. Fair value is determined by using an appropriate, widely used, valuation model. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions). Non-vesting conditions, such as the condition that employees contribute to a savings-related plan, are taken into account in the grant-date fair value, and failure to meet a non-vesting condition, where this is within the control of the employee is treated as a cancellation and any remaining unrecognized cost is expensed. For other equity-settled share-based payment transactions, the goods or services received and the corresponding increase in equity are measured at the fair value of the goods or services received unless their fair value cannot be reliably estimated. If the fair value of the goods and services received cannot be reliably estimated, the transaction is measured by reference to the fair value of the equity instruments granted. Cash-settled transactions The cost of cash-settled transactions is recognized as an expense over the vesting period, measured by reference to the fair value of the corresponding liability which is recognized on the balance sheet. The liability is remeasured at fair value at each balance sheet date until settlement, with changes in fair value recognized in the income statement.
Income taxes	Income taxes Income tax expense represents the sum of current tax and deferred tax. Income tax is recognized in the income statement, except to the extent that it relates to items recognized in other comprehensive income or directly in equity, in which case the related tax is recognized in other comprehensive income or directly in equity. Current tax is based on the taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it is determined in accordance with the rules established by the applicable taxation authorities. It therefore excludes items of income or expense that are taxable or deductible in other periods as well as items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 1 . Significant accounting policies, judgements, estimates and assumptions – continued Deferred tax is provided, using the liability method, on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognized for all taxable temporary differences except: • Where the deferred tax liability arises on the initial recognition of goodwill. • Where the deferred tax liability arises on the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither accounting profit nor taxable profit or loss. • In respect of taxable temporary differences associated with investments in subsidiaries and associates and interests in joint arrangements, where the group is able to control the timing of the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognized for deductible temporary differences, carry-forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry-forward of unused tax credits and unused tax losses can be utilized, except where the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither accounting profit nor taxable profit or loss. In respect of deductible temporary differences associated with investments in subsidiaries and associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable or increased to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted. Deferred tax assets and liabilities are offset only when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the current tax assets and liabilities on a net basis or to realize the assets and settle the liabilities simultaneously. Where tax treatments are uncertain, if it is considered probable that a taxation authority will accept the group's proposed tax treatment, income taxes are recognized consistent with the group's income tax filings. If it is not considered probable, the uncertainty is reflected within the carrying amount of the applicable tax asset or liability using either the most likely amount or an expected value, depending on which method better predicts the resolution of the uncertainty. The computation of the group’s income tax expense and liability involves the interpretation of applicable tax laws and regulations in many jurisdictions throughout the world. The resolution of tax positions taken by the group, through negotiations with relevant tax authorities or through litigation, can take several years to complete and in some cases it is difficult to predict the ultimate outcome. Therefore, judgement is required to determine whether provisions for income taxes are required and, if so, estimation is required of the amounts that could be payable. In addition, the group has carry-forward tax losses and tax credits in certain taxing jurisdictions that are available to offset against future taxable profit. However, deferred tax assets are recognized only to the extent that it is probable that taxable profit will be available against which the unused tax losses or tax credits can be utilized. Management judgement is exercised in assessing whether this is the case and estimates are required to be made of the amount of future taxable profits that will be available. Management do not assess there to be a significant risk of a material change to the group’s tax provisioning or recognition of deferred tax assets within the next financial year, however the tax position remains inherently uncertain and therefore subject to change. To the extent that actual outcomes differ from management’s estimates, income tax charges or credits, and changes in current and deferred tax assets or liabilities, may arise in future periods. For more information see Note 9 and Note 33. Judgement is also required when determining whether a particular tax is an income tax or another type of tax (for example a production tax). Accounting for deferred tax is applied to income taxes as described above, but is not applied to other types of taxes; rather such taxes are recognized in the income statement in accordance with the applicable accounting policy such as Provisions and contingencies. No new significant judgements were made in 2019 in this regard.
Customs duties and sales taxes	Customs duties and sales taxes Customs duties and sales taxes that are passed on or charged to customers are excluded from revenues and expenses. Assets and liabilities are recognized net of the amount of customs duties or sales tax except: • Customs duties or sales taxes incurred on the purchase of goods and services which are not recoverable from the taxation authority are recognized as part of the cost of acquisition of the asset. • Receivables and payables are stated with the amount of customs duty or sales tax included. The net amount of sales tax recoverable from, or payable to, the taxation authority is included within receivables or payables in the balance sheet.
Own equity instruments - treasury shares	Own equity instruments – treasury shares The group’s holdings in its own equity instruments are shown as deductions from shareholders’ equity. Treasury shares represent BP shares repurchased and available for specific and limited purposes. For accounting purposes, shares held in Employee Share Ownership Plans (ESOPs) to meet the future requirements of the employee share-based payment plans are treated in the same manner as treasury shares and are, therefore, included in the consolidated financial statements as treasury shares. The cost of treasury shares subsequently sold or reissued is calculated on a weighted-average basis. Consideration, if any, received for the sale of such shares is also recognized in equity. No gain or loss is recognized in the income statement on the purchase, sale, issue or cancellation of equity shares. Shares repurchased under the share buy-back programme which are immediately cancelled are not shown as treasury shares, but are shown as a deduction from the profit and loss account reserve in the group statement of changes in equity.
Revenue and other income	Revenue and other income Revenue from contracts with customers is recognized when or as the group satisfies a performance obligation by transferring control of a promised good or service to a customer. The transfer of control of oil, natural gas, natural gas liquids, LNG, petroleum and chemical products, and other items usually coincides with title passing to the customer and the customer taking physical possession. The group principally satisfies its performance obligations at a point in time; the amounts of revenue recognized relating to performance obligations satisfied over time are not significant. When, or as, a performance obligation is satisfied, the group recognizes as revenue the amount of the transaction price that is allocated to that performance obligation. The transaction price is the amount of consideration to which the group expects to be entitled. The transaction price is allocated to the performance obligations in the contract based on standalone selling prices of the goods or services promised. Contracts for the sale of commodities are typically priced by reference to quoted prices. Revenue from term commodity contracts is recognized based on the contractual pricing provisions for each delivery. Certain of these contracts have pricing terms based on prices at a point in time after delivery has been made. Revenue from such contracts is initially recognized based on relevant prices at the time of delivery and subsequently adjusted as appropriate. All revenue from these contracts, both that recognized at the time of delivery and that from post-delivery price adjustments, is disclosed as revenue from contracts with customers. Certain contracts entered into by the group that result in physical delivery of products such as crude oil, natural gas and refined products are required by IFRS 9 to be accounted for as derivative financial instruments. The group's counterparties in these transactions may, however, meet the IFRS 15 definition of a customer. Revenue recognized relating to such contracts when physical delivery occurs is, therefore, measured at the contractual transaction price and presented together with revenue from contracts with customers. Changes in the fair value of derivative assets and liabilities prior to physical delivery are excluded from revenue from contracts with customers and are classified as other operating revenues. See also Impact of new International Financial Reporting Standards - Not yet adopted - IFRIC agenda decision on IFRS 9 'Financial instruments' below. Where forward sale and purchase contracts for oil, natural gas or power have been determined to be for short-term trading purposes, the associated sales and purchases are reported net within sales and other operating revenues whether or not physical delivery has occurred. Physical exchanges with counterparties in the same line of business in order to facilitate sales to customers are reported net, as are sales and purchases made with a common counterparty, as part of an arrangement similar to a physical exchange. Where the group acts as agent on behalf of a third party to procure or market energy commodities, any associated fee income is recognized but no purchase or sale is recorded. Interest income is recognized as the interest accrues (using the effective interest rate, that is, the rate that exactly discounts estimated future cash receipts through the expected life of the financial instrument to the net carrying amount of the financial asset). Dividend income from investments is recognized when the shareholders’ right to receive the payment is established. Contract asset and contract liability balances are included within amounts presented for trade receivables and other payables respectively.
Finance costs	Finance costs Finance costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use, are added to the cost of those assets until such time as the assets are substantially ready for their intended use. All other finance costs are recognized in the income statement in the period in which they are incurred.
Impact of new International Financial Reporting Standards	Impact of new International Financial Reporting Standards BP adopted IFRS 16 ‘Leases’, which replaced IAS 17 ‘Leases’ and IFRIC 4 ‘Determining whether an arrangement contains a lease’, with effect from 1 January 2019. There are no other new or amended standards or interpretations adopted during the year that have a significant impact on the consolidated financial statements. IFRS 16 ‘Leases’ IFRS 16 ‘Leases’ provides a new model for lessee accounting in which the majority of leases will be accounted for by the recognition on the balance sheet of a right-of-use asset and a lease liability. The subsequent amortization of the right-of-use asset and the interest expense related to the lease liability is recognized in profit or loss over the lease term. BP elected to apply the modified retrospective transition approach in which the cumulative effect of initial application is recognized in opening retained earnings at the date of initial application with no restatement of comparative periods’ financial information. Comparative information in the group balance sheet and group cash flow statement has, however, been re-presented to align with current year presentation, showing lease liabilities and lease liability payments as separate line items. These were previously included within finance debt and repayments of long-term financing line items respectively. Amounts presented in these line items for the comparative periods relate to leases accounted for as finance leases under IAS 17. We do not consider any of the judgements or estimates made on transition to IFRS 16 to be significant. IFRS 16 introduces a revised definition of a lease. As permitted by the standard, BP elected not to reassess the existing population of leases under the new definition and only applies the new definition for the assessment of contracts entered into after the transition date. On transition the standard permitted, on a lease-by-lease basis, the right-of-use asset to be measured either at an amount equal to the lease liability (as adjusted for prepaid or accrued lease payments), or on a historical basis as if the standard had always applied. BP elected to use the historical asset measurement for its more material leases and used the asset equals liability approach for the remainder of the population. In measuring the right-of-use asset BP applied the transition practical expedient to exclude initial direct costs. BP also elected to adjust the carrying amounts of the right-of-use assets as at 1 January 2019 for onerous lease provisions that had been recognized on the group balance sheet as at 31 December 2018, rather than performing impairment tests on transition. The effect on the group’s balance sheet is set out further below. The presentation and timing of recognition of charges in the income statement has changed following the adoption of IFRS 16. The operating lease expense previously reported under IAS 17, typically on a straight-line basis, has been replaced by depreciation of the right-of-use asset and interest on the lease liability. In the cash flow statement payments are now presented as financing cash flows, representing repayments of principal, and as operating cash flows, representing payments of interest. Variable lease payments that do not depend on an index or rate are not included in the lease liability and will continue to be presented as operating cash flows. In prior years, operating lease payments were principally presented within cash flows from operating activities. 1 . Significant accounting policies, judgements, estimates and assumptions – continued The following table provides a reconciliation of the operating lease commitments as at 31 December 2018 to the total lease liability recognized on the group balance sheet in accordance with IFRS 16 as at 1 January 2019, with explanations below. $ million Operating lease commitments at 31 December 2018 11,979 Leases not yet commenced (1,372 ) Leases below materiality threshold (86 ) Short-term leases (91 ) Effect of discounting (1,512 ) Impact on leases in joint operations 836 Variable lease payments (58 ) Redetermination of lease term (252 ) Other (22 ) Total additional lease liabilities recognized on adoption of IFRS 16 9,422 Finance lease obligations at 31 December 2018 667 Adjustment for finance leases in joint operations (189 ) Total lease liabilities at 1 January 2019 9,900 Leases not yet commenced: The operating lease commitments disclosed as at 31 December 2018 include amounts relating to leases entered into by the group that had not yet commenced as at 31 December 2018. In accordance with IFRS 16 assets and liabilities will not be recognized on the group balance sheet in relation to these leases until the dates of commencement of the leases. Commitments for leases not yet commenced as at 31 December 2019 are disclosed in note 28. Short-term leases and leases below materiality threshold: As part of the transition to IFRS 16, BP elected not to recognize assets and liabilities relating to short-term leases i.e. leases with a term of less than 12 months and also applied a materiality threshold for the recognition of assets and liabilities related to leases. The disclosed operating lease commitments as at 31 December 2018 include amounts related to such leases. Effect of discounting: The amount of the lease liability recognized in accordance with IFRS 16 is on a discounted basis whereas the operating lease commitments information as at 31 December 2018 is presented on an undiscounted basis. The discount rates used on transition were incremental borrowing rates as appropriate for each lease based on factors such as the lessee legal entity, lease term and currency. The weighted average discount rate used on transition was around 3.5% , with a weighted average remaining lease term of around nine years. For new leases commencing after 1 January 2019 the discount rate used will be the interest rate implicit in the lease, if this is readily determinable, or the incremental borrowing rate if the implicit rate cannot be readily determined. Impact on leases in joint operations: The operating lease commitments for leases within joint operations as at 31 December 2018 were included on the basis of BP’s net working interest, irrespective of whether BP is the operator and whether the lease has been co-signed by the joint operators or not. However, for transition to IFRS 16, the facts and circumstances of each lease in a joint operation were assessed to determine the group’s rights and obligations and to recognize assets and liabilities on the group balance sheet accordingly. This relates mainly to leases of drilling rigs within joint operations in the Upstream segment. Where all parties to a joint operation jointly have the right to control the use of the identified asset and all parties have a legal obligation to make lease payments to the lessor, the group’s share of the right-of-use asset and its share of the lease liability will be recognized on the group balance sheet. This may arise in cases where the lease is signed by all parties to the joint operation. However, in cases where BP is the only party with the legal obligation to make lease payments to the lessor, the full lease liability will be recognized on the group balance sheet. This may be the case if for example BP, as operator of the joint operation, is the sole signatory to the lease. If, however, the underlying asset is jointly controlled by all parties to the joint operation BP will recognize its net share of the right-of-use asset on the group balance sheet along with a receivable representing the amounts to be recovered from the other parties. If BP is not legally obliged to make lease payments to the lessor but jointly controls the asset, the net share of the right-of-use asset will be recognized on the group balance sheet along with a payable representing amounts to be paid to the other parties. Variable lease payments: Where there are lease payments that vary depending on an index or rate, the measurement of the operating lease commitments as at 31 December 2018 was based on the variable factor as at inception of the lease and was not updated to reflect subsequent changes in the variable factor. Such subsequent changes in the lease payments were treated as contingent rentals and charged to profit or loss as and when paid. Under IFRS 16 the lease liability is adjusted whenever the lease payments are changed in response to changes in the variable factor, and for transition the liability was measured on the basis of the prevailing variable factor on 1 January 2019. Redetermination of lease term: Under the transition provisions of IFRS 16, the remaining terms of certain leases were redetermined with the benefit of hindsight, on the basis that BP was reasonably certain to exercise its option to terminate those leases before the full term. Under IAS 17 finance leases were recognized on the group balance sheet and continue to be recognized in accordance with IFRS 16. The amounts recognized on the group balance sheet as at 1 January 2019 in relation to the right-of-use assets and liabilities for previous finance leases within joint operations are on a net or gross basis as appropriate as described above. 1 . Significant accounting policies, judgements, estimates and assumptions – continued In addition to the lease liability, other line items on the group balance sheet adjusted on transition to IFRS 16 include property, plant and equipment for the right-of-use assets, lease related prepayments, receivables from joint operation partners, accruals, payables to operators of joint operations, onerous lease provisions and deferred tax balances, as set out below. $ million 31 December 2018 1 January 2019 Adjustment on adoption of IFRS 16 Non-current assets Property, plant and equipment 135,261 143,950 8,689 Trade and other receivables 1,834 2,159 325 Prepayments 1,179 849 (330 ) Deferred tax assets 3,706 3,736 30 Current assets Trade and other receivables 24,478 24,673 195 Prepayments 963 872 (91 ) Current liabilities Trade and other payables 46,265 46,209 (56 ) Accruals 4,626 4,578 (48 ) Lease liabilities 44 2,196 2,152 Finance debt 9,329 9,329 — Provisions 2,564 2,547 (17 ) Non-current liabilities Other payables 13,830 14,013 183 Accruals 575 548 (27 ) Lease liabilities 623 7,704 7,081 Finance debt 55,803 55,803 — Deferred tax liabilities 9,812 9,767 (45 ) Provisions 17,732 17,657 (75 ) Net assets a 101,548 101,218 (330 ) Equity BP shareholders' equity 99,444 99,115 (329 ) Non-controlling interests 2,104 2,103 (1 ) 101,548 101,218 (330 ) a Net assets also includes the line items not affected by the transition to IFRS 16 that are not presented separately in the table The total adjustments to the group's lease liabilities at 1 January 2019 are reconciled as follows: $ million Total additional lease liabilities recognized on adoption of IFRS 16 9,422 Less: adjustment for finance leases in joint operations (189 ) Total adjustment to lease liabilities 9,233 Of which – current 2,152 – non-current 7,081 Not yet adopted The following pronouncements from the IASB have not been adopted by the group in these financial statements as they will only become effective for future financial reporting periods. In addition, the group is voluntarily changing certain accounting policies from 1 January 2020 following an IFRIC agenda decision on IFRS 9 ' Financial instruments '. There are no other standards, amendments or interpretations in issue but not yet adopted that the directors anticipate will have a material effect on the reported income or net assets of the group. IFRS 17 ' Insurance Contracts' IFRS 17 'Insurance Contracts' provides a new general model for accounting for contracts where the issuer accepts significant insurance risk from another party and agrees to compensate that party if a future uncertain event adversely affects them. IFRS 17 replaces IFRS 4 'Insurance Contracts' and will be effective for BP for the financial reporting period commencing 1 January 2022 subject to endorsement by the UK and the EU. BP has commenced an assessment of the impact of IFRS 17 but it is not expected to have a significant effect on future financial reporting. Interest Rate Benchmark Reform: Amendments to IFRS 9 'Financial instruments' Amendments to IFRS 9 were issued in September 2019 to provide temporary relief from applying specific hedge accounting requirements to hedging relationships directly affected by interest rate benchmark reforms. The reliefs have the effect that the uncertainty over the interest rate benchmark reforms should not generally result in discontinuation of hedge accounting. The amendments have been endorsed by the EU. BP will adopt the IFRS 9 amendments in the financial reporting period commencing 1 January 2020. The reliefs provided by the amendments would allow BP to assume that: • the interest rate benchmark component at initial designation of fair value hedges is separately identifiable; and • the interest rate benchmark is not altered for the purposes of assessing the economic relationship between the hedged item and the hedging instrument for fair value hedges. The amendments are applicable to all of the group's fair value hedges disclosed in note 30. 1 . Significant accounting policies, judgements, estimates and assumptions – continued IFRIC agenda decision on IFRS 9 In March 2019, the IFRIC issued an agenda decision on the application of IFRS 9 to the physical settlement of contracts to buy or sell a non-financial item such as commodities that are not accounted for as 'own-use' contracts. The IFRIC concluded that such contracts are settled by the delivery or receipt of a non-financial item in exchange for both cash and the settlement of the derivative asset or liability. BP regularly enters into forward sale and purchase contracts. As described in the group's accounting policy for revenue, revenue recognized at the time such contracts are physically settled is measured at the contractual transaction price and is presented together with revenue from contracts with customers in these financial statements. From 1 January 2020, however, the group has changed its accounting policy for these contracts in accordance with the conclusions included in the agenda decision. Purchases and revenues from such contracts will be measured at the contractual transaction price plus the carrying amount of the related derivative at the date of settlement. Furthermore, revenues on such sales contracts will no longer be presented together with the group's revenue from contracts with customers but will be included in other revenues. This change will have a significant effect on the group's disclosures in relation to revenue from contracts with customers. For 2019, it is currently estimated that the amount of revenue measured at the contractual transaction price presented together with revenue from contracts with customers in these financial statements that would be presented as other revenues following application of this change in accounting policy is approximately $130 billion . Comparative information for revenue from contracts with customers (see Note 6) will be restated in BP's 2020 financial statements. Gains and losses on these realized physically settled derivative contracts will also be included in other revenues. The group expects there to be no material effect on reported profit as presented in the group income statement or on net assets as a result of these changes.

Significant accounting polici_3

Significant accounting policies, judgements, estimates and assumptions (Tables)	12 Months Ended
	Dec. 31, 2019
Corporate Information And Statement Of IFRS Compliance [Abstract]
Summary of typical useful lives of other property, plant and equipment	The typical useful lives of the group’s other property, plant and equipment are as follows: Land improvements 15 to 25 years Buildings 20 to 50 years Refineries 20 to 30 years Petrochemicals plants 20 to 30 years Pipelines 10 to 50 years Service stations 15 years Office equipment 3 to 7 years Fixtures and fittings 5 to 15 years $ million Land and land improvements Buildings Oil and gas properties a Plant, machinery and equipment Fittings, fixtures and office equipment Transportation b Oil depots, storage tanks and service stations Total Cost - owned property, plant and equipment (PP&E) At 1 January 2019 3,562 1,502 232,684 45,721 2,747 10,183 8,866 305,265 Exchange adjustments (22 ) 5 — (158 ) 15 (3 ) (69 ) (232 ) Additions 88 93 13,237 2,433 172 274 644 16,941 Acquisitions 51 — — — — — 8 59 Transfers from intangible assets — — 1,885 — — — — 1,885 Reclassified as assets held for sale (26 ) — (22,602 ) — (76 ) (6,708 ) — (29,412 ) Deletions (44 ) (178 ) (10,852 ) (1,272 ) (326 ) (272 ) (755 ) (13,699 ) At 31 December 2019 3,609 1,422 214,352 46,724 2,532 3,474 8,694 280,807 Depreciation - owned PP&E At 1 January 2019 626 697 133,687 20,512 2,041 7,819 5,146 170,528 Exchange adjustments (4 ) 5 — (63 ) 12 (3 ) (45 ) (98 ) Charge for the year 44 59 13,012 1,705 168 173 420 15,581 Impairment losses 1 1 5,871 64 1 404 4 6,346 Impairment reversals — — (129 ) — — (2 ) — (131 ) Reclassified as assets held for sale — — (17,764 ) — (69 ) (5,478 ) — (23,311 ) Deletions (86 ) (65 ) (9,911 ) (691 ) (147 ) (169 ) (660 ) (11,729 ) At 31 December 2019 581 697 124,766 21,527 2,006 2,744 4,865 157,186 Owned PP&E - net book amount at 31 December 2019 3,028 725 89,586 25,197 526 730 3,829 123,621 Right-of-use assets - net book amount at 31 December 2019 c — 1,196 128 1,241 16 3,385 3,055 9,021 Total PP&E - net book amount at 31 December 2019 3,028 1,921 89,714 26,438 542 4,115 6,884 132,642 Cost At 1 January 2018 3,474 1,573 226,054 46,662 2,853 10,774 8,748 300,138 Exchange adjustments (168 ) (58 ) — (892 ) (73 ) (43 ) (501 ) (1,735 ) Additions 233 40 9,712 2,323 204 (112 ) 736 13,136 Acquisitions 163 4 10,882 9 1 2 36 11,097 Remeasurements b — — 17 — — — — 17 Transfers from intangible assets — — 901 — — — — 901 Deletions (140 ) (45 ) (14,699 ) (1,810 ) (238 ) (128 ) (146 ) (17,206 ) At 31 December 2018 3,562 1,514 232,867 46,292 2,747 10,493 8,873 306,348 Depreciation At 1 January 2018 683 818 133,326 20,996 2,136 7,523 5,185 170,667 Exchange adjustments (25 ) (24 ) — (460 ) (52 ) (27 ) (279 ) (867 ) Charge for the year 92 52 12,342 1,820 189 252 384 15,131 Impairment losses 2 — 86 253 — 178 2 521 Impairment reversals — — (564 ) (1 ) — (17 ) — (582 ) Deletions (126 ) (139 ) (11,333 ) (1,733 ) (232 ) (75 ) (145 ) (13,783 ) At 31 December 2018 626 707 133,857 20,875 2,041 7,834 5,147 171,087 Net book amount at 31 December 2018 2,936 807 99,010 25,417 706 2,659 3,726 135,261 Assets held under finance leases at net book amount included above d At 31 December 2018 — 2 12 207 — 295 6 522 Assets under construction included above At 31 December 2019 23,897 At 31 December 2018 22,522 Depreciation charge for the year on right-of-use assets 2019 220 31 671 9 784 526 2,241 a For information on significant estimates and judgements made in relation to the estimation of oil and natural reserves see Property, plant and equipment within Note 1 . b Includes adjustments to decommissioning provisions; see Note 1 for further information. c $653 million of drilling rig right-of-use assets and $2,929 million of shipping vessel right-of-use assets are included in Plant, machinery and equipment and Transportation respectively. d Leases previously classified as finance leases are included within right-of-use assets following the implementation of IFRS 16 ‘Leases’; see Note 1 for further information. The reconciliation of owned property, plant and equipment for 2019 does not include right-of-use assets and, therefore, the cost and depreciation at 1 January 2019 is not equal to the cost and depreciation of total property, plant and equipment at 31 December 2018. The relevant amounts excluded are cost of $1,083 million and depreciation of $559 million relating to leases previously classified as finance leases.
Disclosure of initial application of standards or interpretations [text block]	The following table provides a reconciliation of the operating lease commitments as at 31 December 2018 to the total lease liability recognized on the group balance sheet in accordance with IFRS 16 as at 1 January 2019, with explanations below. $ million Operating lease commitments at 31 December 2018 11,979 Leases not yet commenced (1,372 ) Leases below materiality threshold (86 ) Short-term leases (91 ) Effect of discounting (1,512 ) Impact on leases in joint operations 836 Variable lease payments (58 ) Redetermination of lease term (252 ) Other (22 ) Total additional lease liabilities recognized on adoption of IFRS 16 9,422 Finance lease obligations at 31 December 2018 667 Adjustment for finance leases in joint operations (189 ) Total lease liabilities at 1 January 2019 9,900 In addition to the lease liability, other line items on the group balance sheet adjusted on transition to IFRS 16 include property, plant and equipment for the right-of-use assets, lease related prepayments, receivables from joint operation partners, accruals, payables to operators of joint operations, onerous lease provisions and deferred tax balances, as set out below. $ million 31 December 2018 1 January 2019 Adjustment on adoption of IFRS 16 Non-current assets Property, plant and equipment 135,261 143,950 8,689 Trade and other receivables 1,834 2,159 325 Prepayments 1,179 849 (330 ) Deferred tax assets 3,706 3,736 30 Current assets Trade and other receivables 24,478 24,673 195 Prepayments 963 872 (91 ) Current liabilities Trade and other payables 46,265 46,209 (56 ) Accruals 4,626 4,578 (48 ) Lease liabilities 44 2,196 2,152 Finance debt 9,329 9,329 — Provisions 2,564 2,547 (17 ) Non-current liabilities Other payables 13,830 14,013 183 Accruals 575 548 (27 ) Lease liabilities 623 7,704 7,081 Finance debt 55,803 55,803 — Deferred tax liabilities 9,812 9,767 (45 ) Provisions 17,732 17,657 (75 ) Net assets a 101,548 101,218 (330 ) Equity BP shareholders' equity 99,444 99,115 (329 ) Non-controlling interests 2,104 2,103 (1 ) 101,548 101,218 (330 ) a Net assets also includes the line items not affected by the transition to IFRS 16 that are not presented separately in the table The total adjustments to the group's lease liabilities at 1 January 2019 are reconciled as follows: $ million Total additional lease liabilities recognized on adoption of IFRS 16 9,422 Less: adjustment for finance leases in joint operations (189 ) Total adjustment to lease liabilities 9,233 Of which – current 2,152 – non-current 7,081

Non-current assets held for s_2

Non-current assets held for sale (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of assets and liabilities held for sale [Abstract]
Disclosure of assets and liabilities held for sale	The total assets and liabilities held for sale, which are all in the Upstream segment, are set out in the table below. $ million 2019 Property, plant and equipment 6,359 Intangible assets 610 Investments in associates 43 Inventories 318 Trade and other receivables 135 Assets classified as held for sale 7,465 Trade and other payables (33 ) Lease liabilities (280 ) Provisions (1,012 ) Defined benefit pension plan and other post-retirement benefit plan deficits (68 ) Liabilities directly associated with assets classified as held for sale (1,393 )

Business combinations and oth_2

Business combinations and other significant transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Summary of fair values of identifiable assets and liabilities acquired	The fair values of the identifiable assets and liabilities acquired, as at the date of acquisition, are shown in the table below. No goodwill was recognized on the acquisition and no significant adjustments were made to the provisional fair values of the identifiable assets and liabilities acquired when those values were finalized. $ million 2018 Assets Property, plant and equipment 10,845 Intangible assets 21 Inventories 27 Trade and other receivables 493 Cash 104 Liabilities Trade and other payables (659 ) Provisions (323 ) Non-controlling interest (206 ) Total consideration 10,302
Analysis of the cash flows related to acquisition	An analysis of the cash flows relating to the acquisition included within the cash flow statement for 2018 is provided below. $ million 2018 Transaction costs of the acquisition (included in cash flows from operating activities) 62 Interest on deferred payments (included in cash flows from operating activities) 21 Cash consideration paid, net of cash acquired (included in cash flows from investing activities) 6,684 Total net cash outflow for the acquisition 6,767

Disposals and impairment (Table

Disposals and impairment (Tables)	12 Months Ended
	Dec. 31, 2019
Impairment Of Assets [Abstract]
Summary of amounts recognized in the income statement in respect of disposals and impairments	The following amounts were recognized in the income statement in respect of disposals and impairments. $ million 2019 2018 2017 Gains on sale of businesses and fixed assets Upstream 143 437 526 Downstream 50 15 674 Other businesses and corporate — 4 10 193 456 1,210 $ million 2019 2018 2017 Losses on sale of businesses and fixed assets Upstream 415 707 127 Downstream 57 59 88 Other businesses and corporate 887 11 — 1,359 777 215 Impairment losses Upstream 6,752 400 1,138 Downstream 65 12 69 Other businesses and corporate 30 254 32 6,847 666 1,239 Impairment reversals Upstream (131 ) (580 ) (176 ) Downstream — (2 ) (62 ) Other businesses and corporate — (1 ) — (131 ) (583 ) (238 ) Impairment and losses on sale of businesses and fixed assets 8,075 860 1,216
Summary of disposal proceeds and principal gains and losses on disposals by segment	Disposal proceeds and principal gains and losses on disposals by segment are described below. $ million 2019 2018 2017 Proceeds from disposals of fixed assets 500 940 2,936 Proceeds from disposals of businesses, net of cash disposed 1,701 1,911 478 2,201 2,851 3,414 By business Upstream 2,048 2,145 1,183 Downstream 152 120 2,078 Other businesses and corporate 1 586 153 2,201 2,851 3,414
Summary financial information relating to the sale of business	Summarized financial information relating to the sale of businesses is shown in the table below. The principal transaction categorized as a business disposal in 2019 was the sale of our interests in the Gulf of Suez oil concessions in Egypt. The principal transaction categorized as a business disposal in 2018 was the disposal of our interest in the Greater Kuparuk Area in the US - see Note 3 for further information. The principal transaction categorized as a business disposal in 2017 was the disposal of our interest in the Forties Pipeline System in the North Sea. $ million 2019 2018 2017 Non-current assets 1,653 3,274 735 Current assets 507 173 57 Non-current liabilities (257 ) (250 ) (173 ) Current liabilities (108 ) (97 ) (86 ) Total carrying amount of net assets disposed 1,795 3,100 533 Recycling of foreign exchange on disposal 880 — — Costs on disposal 190 3 3 2,865 3,103 536 Gains (losses) on sale of businesses (1,190 ) (221 ) 44 Total consideration 1,675 2,882 580 Non-cash consideration (938 ) (282 ) (216 ) Consideration received (receivable) a 964 (689 ) 114 Proceeds from the sale of businesses, net of cash disposed b 1,701 1,911 478 a $633 million relates to deposits received in advance of the disposal of our Alaska business and certain assets in our BPX business b Proceeds are stated net of cash and cash equivalents disposed of $30 million ( 2018 $15 million and 2017 $25 million ).

Segmental analysis (Tables)

Segmental analysis (Tables)	12 Months Ended
	Dec. 31, 2019
Operating Segments [Abstract]
Summary of financial information, by segment	$ million 2019 By business Upstream Downstream Rosneft Other businesses and corporate Consolidation adjustment and eliminations Total group Segment revenues Sales and other operating revenues 54,501 250,897 — 1,788 (28,789 ) 278,397 Less: sales and other operating revenues between segments (27,034 ) (973 ) — (782 ) 28,789 — Third party sales and other operating revenues 27,467 249,924 — 1,006 — 278,397 Earnings from joint ventures and associates – after interest and tax 603 374 2,295 (15 ) — 3,257 Segment results Replacement cost profit (loss) before interest and taxation 4,917 6,502 2,316 (2,771 ) 75 11,039 Inventory holding gains (losses) a (8 ) 685 (10 ) — — 667 Profit (loss) before interest and taxation 4,909 7,187 2,306 (2,771 ) 75 11,706 Finance costs (3,489 ) Net finance expense relating to pensions and other post-retirement benefits (63 ) Profit before taxation 8,154 Other income statement items Depreciation, depletion and amortization US 4,672 1,335 — 55 — 6,062 Non-US 9,560 1,586 — 572 — 11,718 Charges for provisions, net of write-back of unused provisions, including change in discount rate 118 507 — 560 — 1,185 Segment assets Investments in joint ventures and associates 12,196 3,609 12,927 1,593 — 30,325 Additions to non-current assets b 16,254 4,014 — 2,345 — 22,613 a See explanation of inventory holding gains and losses on page 177 . b Includes additions to property, plant and equipment; goodwill; intangible assets; investments in joint ventures; and investments in associates. $ million 2018 By business Upstream Downstream Rosneft Other businesses and corporate Consolidation adjustment and eliminations Total group Segment revenues Sales and other operating revenues 56,399 270,689 — 1,678 (30,010 ) 298,756 Less: sales and other operating revenues between segments (28,565 ) (574 ) — (871 ) 30,010 — Third party sales and other operating revenues 27,834 270,115 — 807 — 298,756 Earnings from joint ventures and associates – after interest and tax 951 589 2,283 (70 ) — 3,753 Segment results Replacement cost profit (loss) before interest and taxation 14,328 6,940 2,221 (3,521 ) 211 20,179 Inventory holding gains (losses) a (6 ) (862 ) 67 — — (801 ) Profit (loss) before interest and taxation 14,322 6,078 2,288 (3,521 ) 211 19,378 Finance costs (2,528 ) Net finance expense relating to pensions and other post-retirement benefits (127 ) Profit before taxation 16,723 Other income statement items Depreciation, depletion and amortization US 4,211 900 — 59 — 5,170 Non-US 8,907 1,177 — 203 — 10,287 Charges for provisions, net of write-back of unused provisions, including change in discount rate 355 834 — 1,557 — 2,746 Segment assets Investments in joint ventures and associates 12,785 2,772 10,074 689 — 26,320 Additions to non-current assets b c 24,266 3,609 — 477 — 28,352 a See explanation of inventory holding gains and losses on page 177 . b Includes additions to property, plant and equipment; goodwill; intangible assets; investments in joint ventures; and investments in associates. c Amounts have been restated to include acquisitions 5 . Segmental analysis – continued $ million 2017 By business Upstream Downstream Rosneft Other businesses and corporate Consolidation adjustment and eliminations Total group Segment revenues Sales and other operating revenues 45,440 219,853 — 1,469 (26,554 ) 240,208 Less: sales and other operating revenues between segments (24,179 ) (1,800 ) — (575 ) 26,554 — Third party sales and other operating revenues 21,261 218,053 — 894 — 240,208 Earnings from joint ventures and associates – after interest and tax 930 674 922 (19 ) — 2,507 Segment results Replacement cost profit (loss) before interest and taxation 5,221 7,221 836 (4,445 ) (212 ) 8,621 Inventory holding gains (losses) a 8 758 87 — — 853 Profit (loss) before interest and taxation 5,229 7,979 923 (4,445 ) (212 ) 9,474 Finance costs (2,074 ) Net finance expense relating to pensions and other post-retirement benefits (220 ) Profit before taxation 7,180 Other income statement items Depreciation, depletion and amortization US 4,631 875 — 65 — 5,571 Non-US 8,637 1,141 — 235 — 10,013 Charges for provisions, net of write-back of unused provisions, including change in discount rate 220 304 — 2,902 — 3,426 a See explanation of inventory holding gains and losses on page 177 .
Disclosure of geographical areas	$ million 2019 By geographical area US Non-US Total Revenues Third party sales and other operating revenues a 89,334 189,063 278,397 Other income statement items Production and similar taxes 315 1,232 1,547 Non-current assets Non-current assets b c 57,757 133,398 191,155 a Non-US region includes UK $63,194 million b Non-US region includes UK $22,881 million c Includes property, plant and equipment; goodwill; intangible assets; investments in joint ventures; investments in associates; and non-current prepayments. $ million 2018 By geographical area US Non-US Total Revenues Third party sales and other operating revenues a 98,066 200,690 298,756 Other income statement items Production and similar taxes 369 1,167 1,536 Non-current assets Non-current assets b c 68,188 124,060 192,248 a Non-US region includes UK $65,630 million . b Non-US region includes UK $19,426 million . c Includes property, plant and equipment; goodwill; intangible assets; investments in joint ventures; investments in associates; and non-current prepayments. 5 . Segmental analysis – continued $ million 2017 By geographical area US Non-US Total Revenues Third party sales and other operating revenues a 83,269 156,939 240,208 Other income statement items Production and similar taxes 52 1,723 1,775 a Non-US region includes UK $48,837 million .

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contracts With Customers [Abstract]
Summary of revenue from contracts with customers, by product	Revenue from contracts with customers, by product $ million 2019 2018 2017 Crude oil 62,130 65,276 49,670 Oil products 180,528 195,466 159,821 Natural gas, LNG and NGLs 20,167 21,745 16,196 Non-oil products and other revenues from contracts with customers 13,254 13,768 12,538 Revenues from contracts with customers 276,079 296,255 238,225

Income statement analysis (Tabl

Income statement analysis (Tables)	12 Months Ended
	Dec. 31, 2019
Analysis of income and expense [abstract]
Summary of finance income and finance costs	$ million 2019 2018 2017 Interest and other income Interest income from Financial assets measured at amortized cost 371 421 288 Financial assets measured at fair value through profit or loss 49 39 — Other income 349 313 369 769 773 657 Currency exchange losses charged to the income statement a 37 368 83 Expenditure on research and development 364 429 391 Costs relating to the Gulf of Mexico oil spill (pre-interest and tax) b 319 714 2,687 Finance costs Interest payable on lease liabilities c 379 51 56 Interest payable on other liabilities measured at amortized cost 2,410 2,147 1,662 Capitalized at 3.50% (2018 3.56% and 2017 2.25%) d (374 ) (419 ) (297 ) Unwinding of discount on provisions e 505 210 150 Unwinding of discount on other payables measured at amortized cost 569 539 503 3,489 2,528 2,074 a Excludes exchange gains and losses arising on financial instruments measured at fair value through profit or loss. b Included within production and manufacturing expenses. c Interest payable on lease liabilities in comparative periods relate to leases previously classified as finance leases under IAS 17. d Tax relief on capitalized interest is approximately $51 million ( 2018 $55 million and 2017 $64 million ).

Exploration for and evaluatio_2

Exploration for and evaluation of oil and natural gas resources (Tables)	12 Months Ended
	Dec. 31, 2019
Exploration For And Evaluation Of Mineral Resources [Abstract]
Detailed information about exploration and evaluation assets	$ million 2019 2018 2017 Exploration and evaluation costs Exploration expenditure written off a 631 1,085 1,603 Other exploration costs 333 360 477 Exploration expense for the year 964 1,445 2,080 Impairment losses 2 137 — Intangible assets – exploration and appraisal expenditure b 14,091 15,989 17,026 Liabilities 73 60 82 Net assets 14,018 15,929 16,944 Cash used in operating activities 333 360 477 Cash used in investing activities 1,215 1,119 1,901 a 2018 includes $447 million in the deepwater Gulf of Mexico principally relating to licence expiries. 2017 included write-offs in Angola of $574 million in relation to licence relinquishment and Egypt of $208 million following a determination that no commercial hydrocarbons had been found. 2017 also included a $145-million write-off in relation to the value ascribed to certain licences in the deepwater Gulf of Mexico as part of the accounting for the acquisition of upstream assets from Devon Energy in 2011. For further information see Upstream – Exploration on page 53 . b 2019 includes approximately $2.5 billion relating to Canadian oil sands. See Note 1 for further information.
Summary of exploration for an evaluation of oil and natural gas resources	The carrying amount, by location, of exploration and appraisal expenditure capitalized as intangible assets at 31 December 2019 is shown in the table below. Carrying amount Location $1 - 2 billion Angola; Egypt; Middle East $2 - 3 billion US - Gulf of Mexico; Canada; Brazil $ million 2019 2018 Exploration and appraisal expenditure a Other intangibles Total Exploration and appraisal expenditure a Other intangibles Total Cost At 1 January 17,053 4,504 21,557 17,886 4,488 22,374 Exchange adjustments — 2 2 — (128 ) (128 ) Acquisitions — 35 35 — 25 25 Additions 1,268 457 1,725 1,095 318 1,413 Transfers to property, plant and equipment (1,885 ) — (1,885 ) (901 ) — (901 ) Reclassified as assets held for sale (671 ) — (671 ) — — — Deletions (459 ) (98 ) (557 ) (1,027 ) (199 ) (1,226 ) At 31 December 15,306 4,900 20,206 17,053 4,504 21,557 Amortization At 1 January 1,064 3,209 4,273 860 3,159 4,019 Exchange adjustments — 4 4 — (77 ) (77 ) Charge for the year 631 331 962 1,085 326 1,411 Impairment losses 2 2 4 137 — 137 Reclassified as assets held for sale (61 ) — (61 ) — — — Deletions (421 ) (94 ) (515 ) (1,018 ) (199 ) (1,217 ) At 31 December 1,215 3,452 4,667 1,064 3,209 4,273 Net book amount at 31 December 14,091 1,448 15,539 15,989 1,295 17,284 Net book amount at 1 January 15,989 1,295 17,284 17,026 1,329 18,355 a For further information see Intangible assets within Note 1 and Note 8 .

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Disclosure of major components of tax expense (income)	Tax on profit $ million 2019 2018 2017 Current tax Charge for the year 5,316 6,217 4,208 Adjustment in respect of prior years a (68 ) (221 ) 58 5,248 5,996 4,266 Deferred tax b Origination and reversal of temporary differences in the current year (1,190 ) 907 (503 ) Adjustment in respect of prior years (94 ) 242 (51 ) (1,284 ) 1,149 (554 ) Tax charge on profit 3,964 7,145 3,712 a The adjustments in respect of prior years reflect the reassessment of the current tax balances for prior years in light of changes in facts and circumstances during the year. b Origination and reversal of temporary differences in the current year include the impact of tax rate changes on deferred tax balances. 2018 includes a credit of $121 million (2017 $859 million charge) in respect of the reduction in the US federal corporate income tax rate from 35% to 21%, effective from 1 January 2018. The adjustments in respect of prior years reflect the reassessment of deferred tax balances for prior periods in light of all other changes in facts and circumstances during the year.
Disclosure of reconciliation of items affected by overall tax credit	9 . Taxation – continued $ million 2019 2018 2017 Profit before taxation 8,154 16,723 7,180 Tax charge on profit 3,964 7,145 3,712 Effective tax rate 49% 43% 52% Tax rate computed at the weighted average statutory rate a 52 43 44 Increase (decrease) resulting from Tax reported in equity-accounted entities (7 ) (5 ) (7 ) Deferred tax not recognized b (2 ) 1 6 Tax incentives for investment (3 ) (2 ) (6 ) Foreign exchange 1 3 (4 ) Items not deductible for tax purposes 4 1 5 Impact of US tax reform c — (1 ) 12 Other b 4 3 2 Effective tax rate 49 43 52 a Calculated based on the statutory corporate income tax rate applicable in the countries in which the group operates, weighted by the profits and losses before tax in the respective countries. b A minor amendment has been made to 2017 and 2018 to align with current period presentation. c Relates to the deferred tax impact of the reduction in the US federal corporate income tax rate from 35% to 21%, effective from 1 January 2018.
Disclosure of deferred tax in the income statement and the balance sheet by category of temporary difference	$ million Analysis of movements during the year in the net deferred tax liability 2019 2018 At 31 December 6,106 3,513 Adjustment on adoption of IFRS 9 a — (36 ) Adjustment on adoption of IFRS 16 b (75 ) — At 1 January 6,031 3,477 Exchange adjustments 72 (68 ) Charge (credit) for the year in the income statement (1,284 ) 1,149 Charge for the year in other comprehensive income 233 734 Charge for the year in equity 37 17 Acquisitions, disposals and other additions c 101 797 At 31 December 5,190 6,106 a 2018 reflects the deferred tax impact of adjustments recorded by the group on adoption of IFRS 9. See BP Annual Report and Form 20-F 2018 - Financial statements - Note 1 for further information. b 2019 reflects the deferred tax impact of adjustments recorded by the group on adoption of IFRS 16. See Note 1 for further information. c 2018 relates primarily to the purchase of an additional 16.5% interest in the Clair field. See Note 3 - Other significant transactions for further information. 9 . Taxation – continued The following table provides an analysis of deferred tax in the income statement and the balance sheet by category of temporary difference: $ million Income statement ab Balance sheet ab 2019 2018 2017 2019 2018 Deferred tax liability Depreciation (1,436 ) (1,297 ) (3,971 ) 22,627 22,565 Pension plan surpluses (31 ) 65 (12 ) 2,290 1,956 Derivative financial instruments 29 (36 ) (27 ) 29 — Other taxable temporary differences 159 (57 ) (64 ) 1,496 1,224 (1,279 ) (1,325 ) (4,074 ) 26,442 25,745 Deferred tax asset Lease liabilities 264 8 (16 ) (1,380 ) (90 ) Pension plan and other post-retirement benefit plan deficits 62 (6 ) 340 (1,367 ) (1,319 ) Decommissioning, environmental and other provisions (472 ) 1,505 3,503 (7,579 ) (7,126 ) Derivative financial instruments 63 (31 ) (47 ) (24 ) (95 ) Tax credits (336 ) 123 1,476 (3,964 ) (3,626 ) Loss carry forward 12 559 (964 ) (5,834 ) (5,900 ) Other deductible temporary differences 402 316 (772 ) (1,104 ) (1,483 ) (5 ) 2,474 3,520 (21,252 ) (19,639 ) Net deferred tax charge (credit) and net deferred tax liability c (1,284 ) 1,149 (554 ) 5,190 6,106 Of which – deferred tax liabilities 9,750 9,812 – deferred tax assets 4,560 3,706 a The 2017 and 2018 income statement and 2018 balance sheet are impacted by the reduction in US federal corporate income tax rate from 35% to 21%, effective from 1 January 2018. b The 2019 balance sheet is impacted by the adoption of IFRS 16 and minor amendments have been made to the balance sheet and income statement comparatives to align with current period presentation. c Included within the net deferred tax liability is a deferred tax asset balance of $5,526 million (2018 $5,562 million ) related to the Gulf of Mexico oil spill. A summary of temporary differences, unused tax credits and unused tax losses for which deferred tax has not been recognized is shown in the table below. $ billion At 31 December 2019 2018 Unused US state tax losses a 2.3 6.6 Unused tax losses – other jurisdictions b 3.5 4.3 Unused tax credits 25.4 22.5 of which – arising in the UK c 21.5 18.7 – arising in the US d 3.9 3.8 Deductible temporary differences e 40.4 37.3 Taxable temporary differences associated with investments in subsidiaries and equity-accounted entities 1.5 1.5 a For 2019 these losses expire in the period 2020-2039 with applicable tax rates ranging from 3% to 12% . b The majority of the unused tax losses have no fixed expiry date. c The UK unused tax credits arise predominantly in overseas branches of UK entities based in jurisdictions with higher statutory corporate income tax rates than the UK. No deferred tax asset has been recognized on these tax credits as they are unlikely to have value in the future; UK taxes on these overseas branches are largely mitigated by double tax relief in respect of overseas tax. These tax credits have no fixed expiry date. d For 2019 the US unused tax credits expire in the period 2020-2029. e The majority comprises fixed asset temporary differences in the UK. Substantially all of the temporary differences have no expiry date.
Disclosure of unrecognized deferred tax or write-down of deferred tax assets	$ million Impact of previously unrecognized deferred tax or write-down of deferred tax assets on tax charge 2019 2018 2017 Current tax benefit relating to the utilization of previously unrecognized deferred tax assets 272 83 22 Deferred tax benefit arising from the reversal of a previous write-down of deferred tax assets 96 — — Deferred tax benefit relating to the recognition of previously unrecognized deferred tax assets 364 112 436 Deferred tax expense arising from the write-down of a previously recognized deferred tax asset 73 169 78

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2019
Interim Financial Reporting [Abstract]
Disclosure of dividends announced and paid	Pence per share Cents per share $ million 2019 2018 2017 2019 2018 2017 2019 2018 2017 Dividends announced and paid in cash Preference shares 1 1 1 Ordinary shares March 7.7380 7.1691 8.1587 10.25 10.00 10.00 1,435 1,828 1,303 June 8.0660 7.4435 7.7563 10.25 10.00 10.00 1,779 1,727 1,546 September 8.3480 7.9296 7.6213 10.25 10.25 10.00 1,656 1,409 1,676 December 7.8250 8.0251 7.4435 10.25 10.25 10.00 2,075 1,734 1,627 31.9770 30.5673 30.9798 41.00 40.50 40.00 6,946 6,699 6,153 Dividend announced, paid in March 2020 10.50 2,120 The details of the scrip dividends issued are shown in the table below. The board decided not to offer a scrip dividend alternative in respect of the third quarter 2019 dividend paid in December 2019 and fourth quarter 2019 dividend expected to be paid on 27 March 2020. 2019 2018 2017 Number of shares issued (thousand) 208,927 195,305 289,789 Value of shares issued ($ million) 1,387 1,381 1,714

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings per share [abstract]
Summary of earnings per share	Cents per share Per ordinary share 2019 2018 2017 Basic earnings per share 19.84 46.98 17.20 Diluted earnings per share 19.73 46.67 17.10 Dollars per share Per American Depositary Share (ADS) 2019 2018 2017 Basic earnings per share 1.19 2.82 1.03 Diluted earnings per share 1.18 2.80 1.03 $ million 2019 2018 2017 Profit attributable to BP shareholders 4,026 9,383 3,389 Less: dividend requirements on preference shares 1 1 1 Profit for the year attributable to BP ordinary shareholders 4,025 9,382 3,388 Shares thousand 2019 2018 2017 Basic weighted average number of ordinary shares 20,284,859 19,970,215 19,692,613 Potential dilutive effect of ordinary shares issuable under employee share-based payment plans 114,811 132,278 123,829 Weighted average number of ordinary shares outstanding used to calculate diluted earnings per share 20,399,670 20,102,493 19,816,442 Shares thousand 2019 2018 2017 Basic weighted average number of ordinary shares – ADS equivalent 3,380,809 3,328,369 3,282,102 Potential dilutive effect of ordinary shares (ADS equivalent) issuable under employee share-based payment plans 19,136 22,046 20,638 Weighted average number of ordinary shares (ADS equivalent) outstanding used to calculate diluted earnings per share 3,399,945 3,350,415 3,302,740
Summary of antidilutive securities	The following table shows the number of shares potentially issuable under equity-settled employee share option plans, including the number of options outstanding, the number of options exercisable at the end of each year, and the corresponding weighted average exercise prices. The dilutive effect of these plans at 31 December is also shown. Share options 2019 2018 Number of options ab thousand Weighted average exercise price $ Number of options ab thousand Weighted average exercise price $ Outstanding 17,112 4.91 19,437 4.28 Exercisable 1,067 3.97 481 4.69 Dilutive effect 3,990 n/a 6,123 n/a a Numbers of options shown are ordinary share equivalents (one ADS is equivalent to six ordinary shares). b At 31 December 2019 the quoted market price of one BP ordinary share was £4.72 ( 2018 £4.96 ). The number of shares that are expected to vest each year under employee share plans are shown in the table below. The dilutive effect of the employee share plans at 31 December is also shown. Share plans 2019 2018 Number of shares a Number of shares a Vesting thousand thousand Within one year 91,105 108,934 1 to 2 years 89,939 106,337 2 to 3 years 80,844 71,407 3 to 4 years 725 588 Over 4 years 576 799 263,189 288,065 Dilutive effect 92,343 127,165 a Numbers of shares shown are ordinary share equivalents (one ADS is equivalent to six ordinary shares).

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment	The typical useful lives of the group’s other property, plant and equipment are as follows: Land improvements 15 to 25 years Buildings 20 to 50 years Refineries 20 to 30 years Petrochemicals plants 20 to 30 years Pipelines 10 to 50 years Service stations 15 years Office equipment 3 to 7 years Fixtures and fittings 5 to 15 years $ million Land and land improvements Buildings Oil and gas properties a Plant, machinery and equipment Fittings, fixtures and office equipment Transportation b Oil depots, storage tanks and service stations Total Cost - owned property, plant and equipment (PP&E) At 1 January 2019 3,562 1,502 232,684 45,721 2,747 10,183 8,866 305,265 Exchange adjustments (22 ) 5 — (158 ) 15 (3 ) (69 ) (232 ) Additions 88 93 13,237 2,433 172 274 644 16,941 Acquisitions 51 — — — — — 8 59 Transfers from intangible assets — — 1,885 — — — — 1,885 Reclassified as assets held for sale (26 ) — (22,602 ) — (76 ) (6,708 ) — (29,412 ) Deletions (44 ) (178 ) (10,852 ) (1,272 ) (326 ) (272 ) (755 ) (13,699 ) At 31 December 2019 3,609 1,422 214,352 46,724 2,532 3,474 8,694 280,807 Depreciation - owned PP&E At 1 January 2019 626 697 133,687 20,512 2,041 7,819 5,146 170,528 Exchange adjustments (4 ) 5 — (63 ) 12 (3 ) (45 ) (98 ) Charge for the year 44 59 13,012 1,705 168 173 420 15,581 Impairment losses 1 1 5,871 64 1 404 4 6,346 Impairment reversals — — (129 ) — — (2 ) — (131 ) Reclassified as assets held for sale — — (17,764 ) — (69 ) (5,478 ) — (23,311 ) Deletions (86 ) (65 ) (9,911 ) (691 ) (147 ) (169 ) (660 ) (11,729 ) At 31 December 2019 581 697 124,766 21,527 2,006 2,744 4,865 157,186 Owned PP&E - net book amount at 31 December 2019 3,028 725 89,586 25,197 526 730 3,829 123,621 Right-of-use assets - net book amount at 31 December 2019 c — 1,196 128 1,241 16 3,385 3,055 9,021 Total PP&E - net book amount at 31 December 2019 3,028 1,921 89,714 26,438 542 4,115 6,884 132,642 Cost At 1 January 2018 3,474 1,573 226,054 46,662 2,853 10,774 8,748 300,138 Exchange adjustments (168 ) (58 ) — (892 ) (73 ) (43 ) (501 ) (1,735 ) Additions 233 40 9,712 2,323 204 (112 ) 736 13,136 Acquisitions 163 4 10,882 9 1 2 36 11,097 Remeasurements b — — 17 — — — — 17 Transfers from intangible assets — — 901 — — — — 901 Deletions (140 ) (45 ) (14,699 ) (1,810 ) (238 ) (128 ) (146 ) (17,206 ) At 31 December 2018 3,562 1,514 232,867 46,292 2,747 10,493 8,873 306,348 Depreciation At 1 January 2018 683 818 133,326 20,996 2,136 7,523 5,185 170,667 Exchange adjustments (25 ) (24 ) — (460 ) (52 ) (27 ) (279 ) (867 ) Charge for the year 92 52 12,342 1,820 189 252 384 15,131 Impairment losses 2 — 86 253 — 178 2 521 Impairment reversals — — (564 ) (1 ) — (17 ) — (582 ) Deletions (126 ) (139 ) (11,333 ) (1,733 ) (232 ) (75 ) (145 ) (13,783 ) At 31 December 2018 626 707 133,857 20,875 2,041 7,834 5,147 171,087 Net book amount at 31 December 2018 2,936 807 99,010 25,417 706 2,659 3,726 135,261 Assets held under finance leases at net book amount included above d At 31 December 2018 — 2 12 207 — 295 6 522 Assets under construction included above At 31 December 2019 23,897 At 31 December 2018 22,522 Depreciation charge for the year on right-of-use assets 2019 220 31 671 9 784 526 2,241 a For information on significant estimates and judgements made in relation to the estimation of oil and natural reserves see Property, plant and equipment within Note 1 . b Includes adjustments to decommissioning provisions; see Note 1 for further information. c $653 million of drilling rig right-of-use assets and $2,929 million of shipping vessel right-of-use assets are included in Plant, machinery and equipment and Transportation respectively. d Leases previously classified as finance leases are included within right-of-use assets following the implementation of IFRS 16 ‘Leases’; see Note 1 for further information. The reconciliation of owned property, plant and equipment for 2019 does not include right-of-use assets and, therefore, the cost and depreciation at 1 January 2019 is not equal to the cost and depreciation of total property, plant and equipment at 31 December 2018. The relevant amounts excluded are cost of $1,083 million and depreciation of $559 million relating to leases previously classified as finance leases.

Goodwill and impairment revie_2

Goodwill and impairment review of goodwill (Tables)	12 Months Ended
	Dec. 31, 2019
Intangible Assets [Abstract]
Disclosure of reconciliation of goodwill	$ million 2019 2018 Cost At 1 January 12,815 12,163 Exchange adjustments 79 (210 ) Acquisitions and other additions a 26 1,046 Deletions (55 ) (184 ) At 31 December 12,865 12,815 Impairment losses At 1 January 611 612 Exchange adjustments — — Impairment losses for the year 386 — Deletions — (1 ) At 31 December 997 611 Net book amount at 31 December 11,868 12,204 Net book amount at 1 January 12,204 11,551 a 2018 principally relates to the purchase of an additional 16.5% share in the Clair field in the North Sea. See Note 3 - Other significant transactions for further information. Impairment review of goodwill Goodwill at 31 December 2019 2018 Upstream 7,958 8,346 Downstream 3,904 3,802 Other businesses and corporate 6 56 11,868 12,204
Schedule of goodwill	$ million 2019 2018 Lubricants Other Total Lubricants Other Total Goodwill 2,779 1,125 3,904 2,692 1,110 3,802 2019 2018 Goodwill 7,958 8,346 Excess of recoverable amount over carrying amount 93,250 53,391

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2019
Intangible Assets [Abstract]
Disclosure of detailed information about intangible assets	The carrying amount, by location, of exploration and appraisal expenditure capitalized as intangible assets at 31 December 2019 is shown in the table below. Carrying amount Location $1 - 2 billion Angola; Egypt; Middle East $2 - 3 billion US - Gulf of Mexico; Canada; Brazil $ million 2019 2018 Exploration and appraisal expenditure a Other intangibles Total Exploration and appraisal expenditure a Other intangibles Total Cost At 1 January 17,053 4,504 21,557 17,886 4,488 22,374 Exchange adjustments — 2 2 — (128 ) (128 ) Acquisitions — 35 35 — 25 25 Additions 1,268 457 1,725 1,095 318 1,413 Transfers to property, plant and equipment (1,885 ) — (1,885 ) (901 ) — (901 ) Reclassified as assets held for sale (671 ) — (671 ) — — — Deletions (459 ) (98 ) (557 ) (1,027 ) (199 ) (1,226 ) At 31 December 15,306 4,900 20,206 17,053 4,504 21,557 Amortization At 1 January 1,064 3,209 4,273 860 3,159 4,019 Exchange adjustments — 4 4 — (77 ) (77 ) Charge for the year 631 331 962 1,085 326 1,411 Impairment losses 2 2 4 137 — 137 Reclassified as assets held for sale (61 ) — (61 ) — — — Deletions (421 ) (94 ) (515 ) (1,018 ) (199 ) (1,217 ) At 31 December 1,215 3,452 4,667 1,064 3,209 4,273 Net book amount at 31 December 14,091 1,448 15,539 15,989 1,295 17,284 Net book amount at 1 January 15,989 1,295 17,284 17,026 1,329 18,355 a For further information see Intangible assets within Note 1 and Note 8 .

Investments in joint ventures_2

Investments in joint ventures (Tables)	12 Months Ended
	Dec. 31, 2019
Separate Financial Statements [Abstract]
Summarized financial information relating to the group's share of joint ventures	The following table provides aggregated summarized financial information relating to the group’s share of joint ventures. In December 2019, BP and Bunge both contributed their Brazilian biofuels and biopower businesses into a new joint venture, BP Bunge Bioenergia. BP owns 50% of the new entity. $ million 2019 2018 2017 Sales and other operating revenues 14,139 13,258 11,380 Profit before interest and taxation 975 1,396 1,394 Finance costs 111 85 100 Profit before taxation 864 1,311 1,294 Taxation 288 414 117 Profit for the year 576 897 1,177 Other comprehensive income (6 ) 6 8 Total comprehensive income 570 903 1,185 Non-current assets 13,408 10,399 Current assets 3,738 2,935 Total assets 17,146 13,334 Current liabilities 2,514 1,715 Non-current liabilities 4,676 3,017 Total liabilities 7,190 4,732 Net assets 9,956 8,602 Group investment in joint ventures Group share of net assets (as above) 9,956 8,602 Loans made by group companies to joint ventures 35 45 9,991 8,647
Summarized financial information of joint ventures	Transactions between the group and its joint ventures are summarized below. $ million Sales to joint ventures 2019 2018 2017 Product Sales Amount receivable at 31 December Sales Amount receivable at 31 December Sales Amount receivable at LNG, crude oil and oil products, natural gas 4,884 431 4,603 251 3,578 352 $ million Purchases from joint ventures 2019 2018 2017 Product Purchases Amount payable at 31 December Purchases Amount payable at 31 December Purchases Amount LNG, crude oil and oil products, natural gas, refinery operating costs, plant processing fees 1,812 225 1,336 300 1,257 176

Investments in associates (Tabl

Investments in associates (Tables)	12 Months Ended
	Dec. 31, 2019
Interest In Other Entities [Abstract]
Disclosure of interests in associates	The following table provides aggregated summarized financial information for the group’s associates as it relates to the amounts recognized in the group income statement and on the group balance sheet. $ million Income statement Balance sheet Earnings from associates - after interest and tax Investments in associates 2019 2018 2017 2019 2018 Rosneft 2,295 2,283 922 12,927 10,074 Other associates 386 573 408 7,407 7,599 2,681 2,856 1,330 20,334 17,673 Transactions between the group and its associates are summarized below. $ million Sales to associates 2019 2018 2017 Product Sales Amount receivable at Sales Amount receivable at Sales Amount receivable at LNG, crude oil and oil products, natural gas 1,544 243 2,064 393 1,612 216 $ million Purchases from associates 2019 2018 2017 Product Purchases Amount payable at Purchases Amount payable at Purchases Amount payable at Crude oil and oil products, natural gas, transportation tariff 9,503 1,641 14,112 2,069 11,613 1,681 The following table provides summarized financial information relating to Rosneft. This information is presented on a 100% basis and reflects adjustments made by BP to Rosneft’s own results in applying the equity method of accounting. BP adjusts Rosneft’s results for the accounting required under IFRS relating to BP’s purchase of its interest in Rosneft and the amortization of the deferred gain relating to the disposal of BP’s interest in TNK-BP. These adjustments have increased the reported profit for 2019 , as shown in the table below, compared with the amounts reported in Rosneft's IFRS financial statements. In particular, in 2018 these adjustments resulted in BP reporting a lower amount relating to impairment charges of downstream goodwill than the equivalent amounts reported by Rosneft. $ million Gross amount 2019 2018 2017 Sales and other operating revenues 134,046 131,322 103,028 Profit before interest and taxation 17,473 18,886 9,949 Finance costs 1,281 2,785 2,228 Profit before taxation 16,192 16,101 7,721 Taxation 3,058 2,957 1,742 Non-controlling interests 1,514 1,585 1,311 Profit for the year 11,620 11,559 4,668 Other comprehensive income 572 2,086 2,810 Total comprehensive income 12,192 13,645 7,478 Non-current assets 161,327 137,038 Current assets 38,657 43,438 Total assets 199,984 180,476 Current liabilities 44,459 41,311 Non-current liabilities 79,327 78,754 Total liabilities 123,786 120,065 Net assets 76,198 60,411 Less: non-controlling interests 10,744 9,403 65,454 51,008
Summarized financial information of associates	Summarized financial information for the group’s share of associates is shown below. $ million BP share 2019 2018 2017 Rosneft a Other Total Rosneft a Other Total Rosneft a Other Total Sales and other operating revenues 26,474 7,934 34,408 25,936 9,134 35,070 20,348 7,600 27,948 Profit before interest and taxation 3,451 788 4,239 3,730 1,150 4,880 1,965 626 2,591 Finance costs 253 87 340 550 78 628 440 54 494 Profit before taxation 3,198 701 3,899 3,180 1,072 4,252 1,525 572 2,097 Taxation 604 315 919 584 499 1,083 344 164 508 Non-controlling interests 299 — 299 313 — 313 259 — 259 Profit for the year 2,295 386 2,681 2,283 573 2,856 922 408 1,330 Other comprehensive income 113 (25 ) 88 412 (1 ) 411 555 1 556 Total comprehensive income 2,408 361 2,769 2,695 572 3,267 1,477 409 1,886 Non-current assets 31,862 11,504 43,366 27,065 10,787 37,852 Current assets 7,635 1,924 9,559 8,579 2,398 10,977 Total assets 39,497 13,428 52,925 35,644 13,185 48,829 Current liabilities 8,781 1,908 10,689 8,159 2,232 10,391 Non-current liabilities 15,667 4,577 20,244 15,554 3,817 19,371 Total liabilities 24,448 6,485 30,933 23,713 6,049 29,762 Net assets 15,049 6,943 21,992 11,931 7,136 19,067 Less: non-controlling interests 2,122 — 2,122 1,857 — 1,857 12,927 6,943 19,870 10,074 7,136 17,210 Group investment in associates Group share of net assets (as above) 12,927 6,943 19,870 10,074 7,136 17,210 Loans made by group companies to associates — 464 464 — 463 463 12,927 7,407 20,334 10,074 7,599 17,673 a From 1 October 2014, Rosneft adopted hedge accounting in relation to a portion of highly probable future export revenue denominated in US dollars over a five -year period. Foreign exchange gains and losses arising on the retranslation of borrowings denominated in currencies other than the Russian rouble and designated as hedging instruments are recognized initially in other comprehensive income, and are reclassified to the income statement as the hedged revenue is recognized.

Other investments (Tables)

Other investments (Tables)	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Schedule of other investments	$ million 2019 2018 Current Non-current Current Non-current Equity investments a — 571 1 482 Other 169 705 221 859 169 1,276 222 1,341 a The majority of equity investments are unlisted.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2019
Inventories [Abstract]
Summary of inventory	$ million 2019 2018 Crude oil 5,610 4,878 Natural gas 222 322 Refined petroleum and petrochemical products 12,907 10,419 18,739 15,619 Trading inventories 182 282 18,921 15,901 Supplies 1,959 2,087 20,880 17,988 Cost of inventories expensed in the income statement 209,672 229,878

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of trade and other receivables	$ million 2019 2018 Current Non-current Current Non-current Financial assets Trade receivables 19,424 22 19,414 7 Amounts receivable from joint ventures and associates 672 2 642 2 Other receivables 3,325 826 3,275 740 23,421 850 23,331 749 Non-financial assets Gulf of Mexico oil spill trust fund reimbursement asset 201 — 214 — Sales taxes and production taxes 640 538 790 482 Other receivables 180 759 143 603 1,021 1,297 1,147 1,085 24,442 2,147 24,478 1,834

Valuation and qualifying acco_2

Valuation and qualifying accounts (Tables)	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Summary of valuation and qualifying accounts	$ million 2019 2018 2017 Trade and other receivables Fixed asset investments Trade and other receivables Fixed asset investments Trade and other receivables Fixed asset investments At 1 January – IAS 39 416 235 335 314 392 335 Adjustment on adoption of IFRS 9 — — 115 (85 ) — — At 1 January – IFRS 9 416 235 450 229 392 335 Charged to costs and expenses 206 28 30 10 68 47 Charged to other accounts a (2 ) — (12 ) (1 ) 13 3 Deductions (111 ) (14 ) (52 ) (3 ) (138 ) (71 ) At 31 December 509 249 416 235 335 314 a Principally exchange adjustments .

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of trade and other payables	$ million 2019 2018 Current Non-current Current Non-current Financial liabilities Trade payables 30,538 — 26,252 — Amounts payable to joint ventures and associates 1,866 — 2,369 — Payables for capital expenditure and acquisitions a 3,868 1,196 7,325 1,345 Payables related to the Gulf of Mexico oil spill 1,617 10,863 2,279 11,922 Other payables 5,810 133 4,980 318 43,699 12,192 43,205 13,585 Non-financial liabilities Sales taxes, customs duties, production taxes and social security 2,381 33 2,272 35 Other payables 749 401 788 210 3,130 434 3,060 245 46,829 12,626 46,265 13,830 a 2018 includes $3,514 million deferred consideration relating to the acquisition of Petrohawk Energy Corporation from BHP Billiton Petroleum (North America) Inc. See Note 3 for further information.

Provisions (Tables)

Provisions (Tables)	12 Months Ended
	Dec. 31, 2019
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Summary of movements in each class of provisions	$ million Decommissioning Environmental Litigation and claims Other Total At 1 January 2019 a 13,613 1,567 1,718 3,306 20,204 Exchange adjustments 74 (1 ) — (19 ) 54 Acquisitions 13 — 47 22 82 Increase (decrease) in existing provisions 1,045 272 290 960 2,567 Write-back of unused provisions (22 ) (43 ) (15 ) (361 ) (441 ) Unwinding of discount 415 45 28 17 505 Change in discount rate 1,360 40 31 11 1,442 Utilization (9 ) (252 ) (674 ) (665 ) (1,600 ) Reclassified to other payables (187 ) — (139 ) (328 ) (654 ) Reclassified as liabilities directly associated with assets held for sale (1,004 ) (8 ) — — (1,012 ) Deletions (188 ) — (5 ) (3 ) (196 ) At 31 December 2019 15,110 1,620 1,281 2,940 20,951 Of which – current 317 280 558 1,298 2,453 – non-current 14,793 1,340 723 1,642 18,498 Of which – Gulf of Mexico oil spill — — 189 — 189 a Includes adjustment of $92 million for the implementation of IFRS 16. See Note 1 for further information.

Pensions and other post-retir_2

Pensions and other post-retirement benefits (Tables)	12 Months Ended
	Dec. 31, 2019
Employee Benefits [Abstract]
Disclosure of defined benefit plans	The assumptions are reviewed by management at the end of each year, and are used to evaluate the accrued benefit obligation at 31 December and pension expense for the following year. % Financial assumptions used to determine benefit obligation UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rate for plan liabilities 2.1 2.9 2.5 3.1 4.1 3.5 1.3 2.0 1.9 Rate of increase in salaries 3.4 3.8 4.1 3.9 3.9 4.1 3.1 3.1 3.0 Rate of increase for pensions in payment 2.7 3.0 2.9 — — — 1.5 1.5 1.4 Rate of increase in deferred pensions 2.7 3.0 2.9 — — — 0.5 0.5 0.6 Inflation for plan liabilities 2.7 3.1 3.1 1.5 1.5 1.7 1.7 1.7 1.6 % Financial assumptions used to determine benefit expense UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rate for plan service cost 3.0 2.6 2.7 4.2 3.6 4.1 2.5 2.4 2.1 Discount rate for plan other finance expense 2.9 2.5 2.7 4.1 3.5 3.9 2.0 1.9 1.7 Inflation for plan service cost 3.1 3.1 3.2 1.5 1.7 1.8 1.7 1.6 1.6 BP’s most substantial pension liabilities are in the UK, the US and the Eurozone where our mortality assumptions are as follows: Years Mortality assumptions UK US Eurozone 2019 2018 2017 2019 2018 2017 2019 2018 2017 Life expectancy at age 60 for a male currently aged 60 27.3 27.4 27.4 24.9 25.1 25.1 25.7 25.6 25.1 Life expectancy at age 60 for a male currently aged 40 28.9 28.9 29.0 26.7 26.9 26.8 28.3 28.1 27.6 Life expectancy at age 60 for a female currently aged 60 28.7 28.8 28.8 28.0 28.5 28.4 29.1 29.0 29.0 Life expectancy at age 60 for a female currently aged 40 30.5 30.6 30.5 29.7 30.1 30.0 31.2 31.2 31.4
Disclosure of fair value of plan assets	The current asset allocation policy for the major plans at 31 December 2019 was as follows: UK US Asset category % % Total equity (including private equity) 28 40 Bonds/cash (including LDI) 65 60 Property/real estate 7 — The fair values of the various categories of assets held by the defined benefit plans at 31 December are presented in the table below, including the effects of derivative financial instruments. Movements in the fair value of plan assets during the year are shown in detail in the table on page 197 . $ million UK a US b Eurozone Other Total Fair value of pension plan assets At 31 December 2019 Listed equities – developed markets 6,285 1,290 495 371 8,441 – emerging markets 1,096 124 61 64 1,345 Private equity c 2,675 1,474 — 3 4,152 Government issued nominal bonds d 4,884 2,100 959 572 8,515 Government issued index-linked bonds d 19,462 — 100 — 19,562 Corporate bonds d 6,132 2,304 569 256 9,261 Property e 2,507 — 96 27 2,630 Cash 426 289 33 93 841 Other 98 74 30 26 228 Debt (repurchase agreements) used to fund liability driven investments (7,436 ) — — — (7,436 ) 36,129 7,655 2,343 1,412 47,539 At 31 December 2018 Listed equities – developed markets 5,191 1,238 413 306 7,148 – emerging markets 950 63 65 56 1,134 Private equity c 2,792 1,495 — 4 4,291 Government issued nominal bonds d 4,263 2,072 895 533 7,763 Government issued index-linked bonds d 17,491 — 102 — 17,593 Corporate bonds d 4,606 2,184 506 243 7,539 Property e 2,311 6 57 25 2,399 Cash 376 73 42 83 574 Other 116 64 32 40 252 Debt (repurchase agreements) used to fund liability driven investments (6,011 ) — — — (6,011 ) 32,085 7,195 2,112 1,290 42,682 At 31 December 2017 Listed equities – developed markets 9,548 2,158 537 376 12,619 – emerging markets 2,220 220 83 53 2,576 Private equity c 2,679 1,461 — — 4,140 Government issued nominal bonds d 2,663 1,777 941 545 5,926 Government issued index-linked bonds d 16,177 — 2 — 16,179 Corporate bonds d 4,682 2,024 546 272 7,524 Property e 2,211 6 71 30 2,318 Cash 390 80 21 98 589 Other 104 53 23 45 225 Debt (repurchase agreements) used to fund liability driven investments (5,583 ) — — — (5,583 ) 35,091 7,779 2,224 1,419 46,513 a Bonds held by the UK pension plans are denominated in sterling. Property held by the UK pension plans is in the United Kingdom. b Bonds held by the US pension plans are denominated in US dollars. c Private equity is valued at fair value based on the most recent transaction price or third-party net asset, revenue or earnings based valuations that generally result in the use of significant unobservable inputs. d Bonds held by pension plans are valued using quoted prices in active markets. e Properties are valued based on an analysis of recent market transactions supported by market knowledge derived from third-party
Disclosure of net defined benefit liability (asset)	$ million 2019 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 227 263 81 38 609 Past service cost b 2 — 5 (1 ) 6 Settlement b — (13 ) 8 — (5 ) Operating charge relating to defined benefit plans 229 250 94 37 610 Payments to defined contribution plans 42 188 7 38 275 Total operating charge 271 438 101 75 885 Interest income on plan assets a (909 ) (285 ) (43 ) (46 ) (1,283 ) Interest on plan liabilities 757 387 133 69 1,346 Other finance (income) expense (152 ) 102 90 23 63 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets 2,945 1,079 220 97 4,341 Change in financial assumptions underlying the present value of the plan liabilities (2,294 ) (1,036 ) (748 ) (92 ) (4,170 ) Change in demographic assumptions underlying the present value of the plan liabilities 136 91 3 (4 ) 226 Experience gains and losses arising on the plan liabilities (57 ) (22 ) 6 4 (69 ) Remeasurements recognized in other comprehensive income 730 112 (519 ) 5 328 Movements in benefit obligation during the year Benefit obligation at 1 January 26,830 9,696 6,906 1,686 45,118 Exchange adjustments 942 — (142 ) 26 826 Operating charge relating to defined benefit plans 229 250 94 37 610 Interest cost 757 387 133 69 1,346 Contributions by plan participants c 20 — 2 6 28 Benefit payments (funded plans) d (1,207 ) (830 ) (76 ) (75 ) (2,188 ) Benefit payments (unfunded plans) d (6 ) (205 ) (273 ) (15 ) (499 ) Reclassified as assets held for sale — (146 ) — — (146 ) Disposals — — (30 ) — (30 ) Remeasurements 2,215 967 739 92 4,013 Benefit obligation at 31 December a e 29,780 10,119 7,353 1,826 49,078 Movements in fair value of plan assets during the year Fair value of plan assets at 1 January 32,085 7,195 2,112 1,290 42,682 Exchange adjustments 1,141 — (43 ) 24 1,122 Interest income on plan assets a f 909 285 43 46 1,283 Contributions by plan participants c 20 — 2 6 28 Contributions by employers (funded plans) 236 4 85 24 349 Benefit payments (funded plans) d (1,207 ) (830 ) (76 ) (75 ) (2,188 ) Reclassified as assets held for sale — (78 ) — — (78 ) Remeasurements f 2,945 1,079 220 97 4,341 Fair value of plan assets at 31 December g 36,129 7,655 2,343 1,412 47,539 Surplus (deficit) at 31 December 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) Represented by Asset recognized 6,588 387 27 51 7,053 Liability recognized (239 ) (2,851 ) (5,037 ) (465 ) (8,592 ) 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) The surplus (deficit) may be analysed between funded and unfunded plans as follows Funded 6,588 387 (136 ) (87 ) 6,752 Unfunded (239 ) (2,851 ) (4,874 ) (327 ) (8,291 ) 6,349 (2,464 ) (5,010 ) (414 ) (1,539 ) The defined benefit obligation may be analysed between funded and unfunded plans as follows Funded (29,541 ) (7,268 ) (2,479 ) (1,499 ) (40,787 ) Unfunded (239 ) (2,851 ) (4,874 ) (327 ) (8,291 ) (29,780 ) (10,119 ) (7,353 ) (1,826 ) (49,078 ) a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs and settlements in the Eurozone have arisen from restructuring programmes and represent charges for special termination benefits reflecting the increased liability arising as a result of early retirements. Settlements in the US are the result of a buy-out transaction for the pensions of a group of low value annuitants. c Most of the contributions made by plan participants into UK pension plans were made under salary sacrifice. d The benefit payments amount shown above comprises $2,304 million benefits and $346 million settlements, plus $37 million of plan expenses incurred in the administration of the benefit. e The benefit obligation for the US is made up of $7,789 million for pension liabilities and $2,330 million for other post-retirement benefit liabilities (which are unfunded and are primarily retiree medical liabilities). The benefit obligation for the Eurozone includes $4,567 million for pension liabilities in Germany which is largely unfunded. f The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above. g The fair value of plan assets includes borrowings related to the LDI programme as described on page 196 . 24 . Pensions and other post-retirement benefits – continued $ million 2018 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 295 299 84 43 721 Past service cost b 15 — 9 4 28 Settlement b — — 17 — 17 Operating charge relating to defined benefit plans 310 299 110 47 766 Payments to defined contribution plans 38 178 5 40 261 Total operating charge 348 477 115 87 1,027 Interest income on plan assets a (868 ) (262 ) (44 ) (45 ) (1,219 ) Interest on plan liabilities 774 369 136 67 1,346 Other finance (income) expense (94 ) 107 92 22 127 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets (722 ) (256 ) (69 ) (36 ) (1,083 ) Change in financial assumptions underlying the present value of the plan liabilities 1,770 945 14 65 2,794 Change in demographic assumptions underlying the present value of the plan liabilities 123 (9 ) (42 ) 7 79 Experience gains and losses arising on the plan liabilities 520 41 (43 ) 9 527 Remeasurements recognized in other comprehensive income 1,691 721 (140 ) 45 2,317 Movements in benefit obligation during the year Benefit obligation at 1 January 31,513 10,820 7,275 1,873 51,481 Exchange adjustments (1,589 ) — (303 ) (113 ) (2,005 ) Operating charge relating to defined benefit plans 310 299 110 47 766 Interest cost 774 369 136 67 1,346 Contributions by plan participants c 21 — 2 7 30 Benefit payments (funded plans) d (1,780 ) (597 ) (84 ) (83 ) (2,544 ) Benefit payments (unfunded plans) d (6 ) (218 ) (301 ) (17 ) (542 ) Disposals — — — (14 ) (14 ) Remeasurements (2,413 ) (977 ) 71 (81 ) (3,400 ) Benefit obligation at 31 December a e 26,830 9,696 6,906 1,686 45,118 Movements in fair value of plan assets during the year Fair value of plan assets at 1 January 35,091 7,779 2,224 1,419 46,513 Exchange adjustments (1,883 ) — (93 ) (73 ) (2,049 ) Interest income on plan assets a f 868 262 44 45 1,219 Contributions by plan participants c 21 — 2 7 30 Contributions by employers (funded plans) 490 7 88 25 610 Benefit payments (funded plans) d (1,780 ) (597 ) (84 ) (83 ) (2,544 ) Disposals — — — (14 ) (14 ) Remeasurements f (722 ) (256 ) (69 ) (36 ) (1,083 ) Fair value of plan assets at 31 December g 32,085 7,195 2,112 1,290 42,682 Surplus (deficit) at 31 December 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) Represented by Asset recognized 5,473 418 29 35 5,955 Liability recognized (218 ) (2,919 ) (4,823 ) (431 ) (8,391 ) 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) The surplus (deficit) may be analysed between funded and unfunded plans as follows Funded 5,473 396 (152 ) (97 ) 5,620 Unfunded (218 ) (2,897 ) (4,642 ) (299 ) (8,056 ) 5,255 (2,501 ) (4,794 ) (396 ) (2,436 ) The defined benefit obligation may be analysed between funded and unfunded plans as follows Funded (26,612 ) (6,799 ) (2,264 ) (1,387 ) (37,062 ) Unfunded (218 ) (2,897 ) (4,642 ) (299 ) (8,056 ) (26,830 ) (9,696 ) (6,906 ) (1,686 ) (45,118 ) a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs and settlements have arisen from restructuring programmes and represent charges for special termination benefits representing the increased liability arising as a result of early retirements mostly in the UK and Eurozone. c Most of the contributions made by plan participants into UK pension plans were made under salary sacrifice. d The benefit payments amount shown above comprises $3,046 million benefits and $2 million settlements, plus $38 million of plan expenses incurred in the administration of the benefit. e The benefit obligation for the US is made up of $7,290 million for pension liabilities and $2,406 million for other post-retirement benefit liabilities (which are unfunded and are primarily retiree medical liabilities). The benefit obligation for the Eurozone includes $4,328 million for pension liabilities in Germany which is largely unfunded. f The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above. g The fair value of plan assets includes borrowings related to the LDI programme as described on page 196 . 24 . Pensions and other post-retirement benefits – continued $ million 2017 UK US Eurozone Other Total Analysis of the amount charged to profit or loss Current service cost a 357 292 85 46 780 Past service cost b 12 — 5 (1 ) 16 Settlement — — 13 — 13 Operating charge relating to defined benefit plans 369 292 103 45 809 Payments to defined contribution plans 31 191 7 38 267 Total operating charge 400 483 110 83 1,076 Interest income on plan assets a (845 ) (266 ) (37 ) (48 ) (1,196 ) Interest on plan liabilities 831 393 121 71 1,416 Other finance (income) expense (14 ) 127 84 23 220 Analysis of the amount recognized in other comprehensive income Actual asset return less interest income on plan assets 2,396 826 30 43 3,295 Change in financial assumptions underlying the present value of the plan liabilities (236 ) (514 ) 336 (47 ) (461 ) Change in demographic assumptions underlying the present value of the plan liabilities 734 72 — (23 ) 783 Experience gains and losses arising on the plan liabilities 91 (40 ) (36 ) 14 29 Remeasurements recognized in other comprehensive income 2,985 344 330 (13 ) 3,646 a The costs of managing plan investments are offset against the investment return, the costs of administering pension plan benefits are generally included in current service cost and the costs of administering other post-retirement benefit plans are included in the benefit obligation. b Past service costs have arisen from restructuring programmes and represent a combination of credits as a result of the curtailment in the pension arrangements of a number of employees mostly in the US and charges for special termination benefits representing the increased liability arising as a result of early retirements mostly in the UK and Eurozone.
Disclosure of sensitivity analysis for actuarial assumptions	A one-percentage point change, in isolation, in certain assumptions as at 31 December 2019 for the group’s pensions and other post-retirement benefit expense would have had the effects shown in the tables below. The effects shown for the expense in 2020 comprise the total of current service cost and net finance income or expense. $ million One percentage point UK US Eurozone Increase Decrease Increase Decrease Increase Decrease Discount rate a Effect on expense in 2020 (274 ) 227 (66 ) 58 (1 ) (11 ) Effect on obligation at 31 December 2019 (4,729 ) 6,364 (1,191 ) 1,478 (1,060 ) 1,347 Inflation rate b Effect on expense in 2020 171 (134 ) 11 (9 ) 35 (27 ) Effect on obligation at 31 December 2019 4,711 (3,890 ) 67 (54 ) 978 (824 ) Salary growth Effect on expense in 2020 42 (36 ) 13 (11 ) 7 (7 ) Effect on obligation at 31 December 2019 604 (525 ) 80 (67 ) 93 (89 ) a The amounts presented reflect that the discount rate is used to determine the asset interest income as well as the interest cost on the obligation. b The amounts presented reflect the total impact of an inflation rate change on the assumptions for rate of increase in salaries, pensions in payment and deferred pensions.
Disclosure of additional information about defined benefit plans [text block]	$ million One year increase UK US Eurozone Longevity Effect on expense in 2020 31 6 9 Effect on obligation at 31 December 2019 1,140 147 306
Disclosure of information about maturity profile of defined benefit obligation	The expected benefit payments, which reflect expected future service, as appropriate, but exclude plan expenses, up until 2029 and the weighted average duration of the defined benefit obligations at 31 December 2019 are as follows: $ million Estimated future benefit payments UK US Eurozone Other Total 2020 1,065 743 333 104 2,245 2021 1,078 789 323 98 2,288 2022 1,098 711 319 101 2,229 2023 1,138 718 314 98 2,268 2024 1,151 699 300 99 2,249 2025-2029 5,895 3,277 1,438 489 11,099 Years Weighted average duration 18.3 13.2 16.4 13.0

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of cash and cash equivalents	$ million 2019 2018 Cash 6,462 6,148 Term bank deposits 10,296 13,105 Cash equivalents (excluding term bank deposits) 5,714 3,215 22,472 22,468

Finance debt (Tables)

Finance debt (Tables)	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Disclosure of detailed information about borrowings	$ million 2019 2018 Current Non-current Total Current Non-current Total Borrowings 10,487 57,237 67,724 9,329 55,803 65,132 The following table shows the weighted-average interest rates achieved through a combination of borrowings and derivative financial instruments entered into to manage interest rate and currency exposures. Fixed rate debt Floating rate debt Total Weighted average interest rate % Weighted average time for which rate is fixed Years Amount $ million Weighted average interest rate % Amount $ million Amount $ million 2019 US dollar 4 5 25,634 3 41,871 67,505 Other currencies 6 10 183 7 36 219 25,817 41,907 67,724 2018 US dollar 4 4 17,264 4 47,461 64,725 Other currencies 5 5 323 8 84 407 17,587 47,545 65,132
Summary of the fair value and carrying amount of finance debt	The carrying amount of the group’s short-term borrowings, comprising mainly of commercial paper, approximates their fair value. The fair values of the significant majority of the group’s long-term borrowings are determined using quoted prices in active markets, and so fall within level 1 of the fair value hierarchy. Where quoted prices are not available, quoted prices for similar instruments in active markets are used and such measurements are therefore categorized in level 2 of the fair value hierarchy. $ million 2019 2018 Fair value Carrying amount Fair value Carrying amount Short-term borrowings 2,321 2,321 2,153 2,153 Long-term borrowings 67,055 65,403 63,213 62,979 Total finance debt 69,376 67,724 65,366 65,132

Capital disclosures and net d_2

Capital disclosures and net debt (Tables)	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of the net debt ratio	We aim to manage the gearing within a 20-30% band and maintain a significant liquidity buffer. At 31 December 2019 , gearing was 31.1% ( 2018 30.0% ). As a result of the adoption of IFRS 16 ‘Leases’ from 1 January 2019, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt (previously also termed ‘gross debt’), net debt and gearing have been amended to be on a consistent basis with amounts presented for 2019. The relevant amount for finance lease liabilities that has been excluded from comparative information for 2018 is $667 million . The previously disclosed amounts for finance debt and net debt for 2018 were $65,799 million and $44,144 million respectively. The previously disclosed gearing for 2018 was 30.3% . $ million At 31 December 2019 2018 Finance debt 67,724 65,132 Less: fair value asset (liability) of hedges related to finance debt a (190 ) (813 ) 67,914 65,945 Less: cash and cash equivalents 22,472 22,468 Net debt 45,442 43,477 Equity 100,708 101,548 Gearing 31.1 % 30.0 % a Derivative financial instruments entered into for the purpose of managing interest rate and foreign currency exchange risk associated with net debt with a fair value liability position of $601 million ( 2018 liability of $827 million ) are not included in the calculation of net debt shown above as hedge accounting was not applied for these instruments. The movement in the year is attributable to a net cash out flow of $ 286 million ( 2018 net cash flow $ nil ) and fair value loss of $60 million ( 2018 fair value losses of $ 193 million ).
Disclosure of net debt including leases	Net debt including leases is shown in the table below. $ million At 31 December 2019 2018 Net debt 45,442 43,477 Lease liabilities 9,722 667 Net partner (receivable) payable for leases entered into on behalf of joint operations (158 ) — Net debt including leases 55,006 44,144
Disclosure of reconciliation of liabilities arising from financing activities	An analysis of changes in liabilities arising from financing activities is provided below. $ million Finance debt Hedge- accounted derivatives Lease liabilities Net partner payable for leases entered into on behalf of joint operations Total liabilities arising from financing activities At 1 January 2019 65,132 813 667 — 66,612 Adjustment on adoption of IFRS 16 a — — 9,233 217 9,450 Exchange adjustments (62 ) — (4 ) 8 (58 ) Net financing cash flow 1,671 2 (2,372 ) (14 ) (713 ) Fair value (gains) losses 924 (1,104 ) — — (180 ) New and remeasured leases/joint operation payables — — 2,614 82 2,696 Other movements 59 479 (416 ) (3 ) 119 At 31 December 2019 67,724 190 9,722 290 77,926 At 1 January 2018 62,574 175 656 — 63,405 Exchange adjustments (237 ) — (22 ) — (259 ) Net financing cash flow 3,540 (360 ) (35 ) — 3,145 Fair value (gains) losses (856 ) 998 — — 142 New leases — — 74 — 74 Other movements 111 — (6 ) — 105 At 31 December 2018 65,132 813 667 — 66,612

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of leases [Abstract]
Disclosure of maturity analysis of operating lease payments	The table below shows the timing of the undiscounted cash outflows for the lease liabilities included on the balance sheet. $ million 2019 2018 a Undiscounted lease liability cash flows due: Within 1 year 2,514 98 1 to 2 years 1,839 97 2 to 3 years 1,364 95 3 to 4 years 1,105 94 4 to 5 years 876 86 5 to 10 years 2,427 309 Over 10 years 1,174 571 11,299 1,350 Impact of discounting (1,577 ) (683 ) Lease liabilities at 31 December 9,722 667 Of which – current 2,067 44 – non-current 7,655 623 a Comparative information represents finance leases accounted for under IAS 17
Disclosure of quantitative information about right-of-use assets [text block]	$ million 2019 Total cash outflow for amounts included in lease liabilities a 2,709 Expense for variable payments not included in the lease liability 67 Short-term lease expense 331 Additions to right-of-use assets in the period 2,542 a The cash outflows for amounts not included in lease liabilities approximate the income statement expense disclosed above

Financial instruments and fin_2

Financial instruments and financial risk factors (Tables)	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Disclosure of financial assets	Other investments $ million 2019 2018 Current Non-current Current Non-current Equity investments a — 571 1 482 Other 169 705 221 859 169 1,276 222 1,341 a The majority of equity investments are unlisted. Other investments includes $598 million relating to contingent consideration amounts arising on disposals (2018 $893 million ) which are financial assets classified as measured at fair value through profit or loss. The fair value is determined using an estimate of discounted future cash flows that are expected to be received and is considered a level 3 valuation under the fair value hierarchy. Future cash flows are estimated based on inputs including oil and natural gas prices, production volumes and operating costs related to the disposed operations. The discount rate used is based on a risk-free rate adjusted for asset-specific risks. The accounting classification of each category of financial instruments and their carrying amounts are set out below. $ million At 31 December 2019 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying amount Financial assets Other investments 18 — 1,445 — 1,445 Loans 906 63 — 969 Trade and other receivables 20 24,271 — — 24,271 Derivative financial instruments 30 — 9,984 483 10,467 Cash and cash equivalents 25 18,183 4,289 — 22,472 Financial liabilities Trade and other payables 22 (55,891 ) — — (55,891 ) Derivative financial instruments 30 — (8,122 ) (676 ) (8,798 ) Accruals (6,062 ) — — (6,062 ) Lease liabilities 28 (9,722 ) — — (9,722 ) Finance debt a 26 (67,724 ) — — (67,724 ) (96,039 ) 7,659 (193 ) (88,573 ) 29 . Financial instruments and financial risk factors – continued $ million At 31 December 2018 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying Financial assets Other investments 18 — 1,563 — 1,563 Loans 839 124 — 963 Trade and other receivables 20 24,080 — — 24,080 Derivative financial instruments 30 — 8,564 427 8,991 Cash and cash equivalents 25 20,366 2,102 — 22,468 Financial liabilities Trade and other payables 22 (56,790 ) — — (56,790 ) Derivative financial instruments 30 — (7,685 ) (1,248 ) (8,933 ) Accruals (5,201 ) — — (5,201 ) Lease liabilities 28 (667 ) — — (667 ) Finance debt a 26 (65,132 ) — — (65,132 ) (82,505 ) 4,668 (821 ) (78,658 ) a As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt and lease liabilities have been amended to be on a consistent basis with amounts presented for 2019. The previously disclosed amounts for finance debt for 2018 was $65,799 million .
Disclosure of financial liabilities	The accounting classification of each category of financial instruments and their carrying amounts are set out below. $ million At 31 December 2019 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying amount Financial assets Other investments 18 — 1,445 — 1,445 Loans 906 63 — 969 Trade and other receivables 20 24,271 — — 24,271 Derivative financial instruments 30 — 9,984 483 10,467 Cash and cash equivalents 25 18,183 4,289 — 22,472 Financial liabilities Trade and other payables 22 (55,891 ) — — (55,891 ) Derivative financial instruments 30 — (8,122 ) (676 ) (8,798 ) Accruals (6,062 ) — — (6,062 ) Lease liabilities 28 (9,722 ) — — (9,722 ) Finance debt a 26 (67,724 ) — — (67,724 ) (96,039 ) 7,659 (193 ) (88,573 ) 29 . Financial instruments and financial risk factors – continued $ million At 31 December 2018 Note Measured at amortized cost Mandatorily measured at fair value through profit or loss Derivative hedging instruments Total carrying Financial assets Other investments 18 — 1,563 — 1,563 Loans 839 124 — 963 Trade and other receivables 20 24,080 — — 24,080 Derivative financial instruments 30 — 8,564 427 8,991 Cash and cash equivalents 25 20,366 2,102 — 22,468 Financial liabilities Trade and other payables 22 (56,790 ) — — (56,790 ) Derivative financial instruments 30 — (7,685 ) (1,248 ) (8,933 ) Accruals (5,201 ) — — (5,201 ) Lease liabilities 28 (667 ) — — (667 ) Finance debt a 26 (65,132 ) — — (65,132 ) (82,505 ) 4,668 (821 ) (78,658 ) a As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt and lease liabilities have been amended to be on a consistent basis with amounts presented for 2019. The previously disclosed amounts for finance debt for 2018 was $65,799 million .
Analysis of credit exposures using external credit grading system	Management information used to monitor credit risk, which reflects the impact of credit enhancements, indicates that the risk profile of financial assets which are subject to review for impairment under IFRS 9 is as set out below. % As at 31 December 2019 2018 AAA to AA- 16 % 22 % A+ to A- 51 % 41 % BBB+ to BBB- 13 % 16 % BB+ to BB- 7 % 8 % B+ to B- 11 % 11 % CCC+ and below 2 % 2 %
Disclosure of offsetting of financial assets	The following table shows the amounts recognized for financial assets and liabilities which are subject to offsetting arrangements on a gross basis, and the amounts offset in the balance sheet. Amounts which cannot be offset under IFRS, but which could be settled net under the terms of master netting agreements if certain conditions arise, and collateral received or pledged, are also presented in the table to show the total net exposure of the group. $ million Gross amounts of recognized financial assets (liabilities) Amounts set off Net amounts presented on the balance sheet Related amounts not set off in the balance sheet Net amount At 31 December 2019 Master netting arrangements Cash collateral (received) pledged Derivative assets 13,191 (2,724 ) 10,467 (1,971 ) (206 ) 8,290 Derivative liabilities (11,445 ) 2,724 (8,721 ) 1,971 — (6,750 ) Trade and other receivables 10,661 (5,211 ) 5,450 (961 ) (190 ) 4,299 Trade and other payables (10,266 ) 5,211 (5,055 ) 961 — (4,094 ) At 31 December 2018 Derivative assets 11,502 (2,511 ) 8,991 (2,079 ) (299 ) 6,613 Derivative liabilities (11,337 ) 2,511 (8,826 ) 2,079 — (6,747 ) Trade and other receivables 11,296 (5,390 ) 5,906 (1,020 ) (169 ) 4,717 Trade and other payables (10,797 ) 5,390 (5,407 ) 1,020 — (4,387 )
Disclosure of offsetting of financial liabilities	The following table shows the amounts recognized for financial assets and liabilities which are subject to offsetting arrangements on a gross basis, and the amounts offset in the balance sheet. Amounts which cannot be offset under IFRS, but which could be settled net under the terms of master netting agreements if certain conditions arise, and collateral received or pledged, are also presented in the table to show the total net exposure of the group. $ million Gross amounts of recognized financial assets (liabilities) Amounts set off Net amounts presented on the balance sheet Related amounts not set off in the balance sheet Net amount At 31 December 2019 Master netting arrangements Cash collateral (received) pledged Derivative assets 13,191 (2,724 ) 10,467 (1,971 ) (206 ) 8,290 Derivative liabilities (11,445 ) 2,724 (8,721 ) 1,971 — (6,750 ) Trade and other receivables 10,661 (5,211 ) 5,450 (961 ) (190 ) 4,299 Trade and other payables (10,266 ) 5,211 (5,055 ) 961 — (4,094 ) At 31 December 2018 Derivative assets 11,502 (2,511 ) 8,991 (2,079 ) (299 ) 6,613 Derivative liabilities (11,337 ) 2,511 (8,826 ) 2,079 — (6,747 ) Trade and other receivables 11,296 (5,390 ) 5,906 (1,020 ) (169 ) 4,717 Trade and other payables (10,797 ) 5,390 (5,407 ) 1,020 — (4,387 )
Disclosure of detailed information of maturities of trade and other payables, accrued expenses, finance debt, and Interest	The table below shows the timing of cash outflows relating to finance debt, trade and other payables and accruals. $ million 2019 2018 Trade and other payables a Accruals Finance debt Interest on finance debt Trade and other payables a Accruals Finance debt b Interest on finance debt b Within one year 43,699 5,066 10,065 2,037 43,230 4,626 9,257 2,350 1 to 2 years 1,937 261 6,726 1,641 2,232 146 6,743 1,904 2 to 3 years 1,465 146 7,949 1,409 1,662 95 6,758 1,653 3 to 4 years 1,409 181 7,022 1,172 1,484 64 8,005 1,379 4 to 5 years 1,332 108 7,554 942 1,406 89 7,009 1,101 5 to 10 years 5,863 231 23,540 1,970 6,058 113 25,187 2,250 Over 10 years 3,957 69 2,497 249 5,001 68 983 9 59,662 6,062 65,353 9,420 61,073 5,201 63,942 10,646 a 2019 includes $16,129 million ( 2018 $18,360 million ) in relation to the Gulf of Mexico oil spill, of which $14,501 million (2018 $16,058 million ) matures in greater than one year. b As a result of the adoption of IFRS 16 ‘Leases’, leases that were previously classified as finance leases under IAS 17 are now presented as ‘Lease liabilities’ on the group balance sheet and therefore do not form part of finance debt. Comparative information for finance debt and interest on finance debt has been amended to be on a consistent basis with amounts presented for 2019. $667 million and $683 million relating to finance lease liabilities have been excluded from the comparative information for finance debt and interest on finance debt respectively for 2018. The previously disclosed amounts for finance debt and interest on finance debt for 2018 was $64,608 million and $11,329 million respectively. The timing of cash outflows relating to lease liabilities reported on the balance sheet are now shown in Note 28 .
Disclosure of maturity analysis for derivative financial liabilities	For further information on our derivative financial instruments, see Note 30 . $ million Cash outflows for derivative financial instruments at 31 December 2019 2018 Within one year 1,678 1,700 1 to 2 years 2,384 1,678 2 to 3 years 2,838 2,384 3 to 4 years 2,906 2,838 4 to 5 years 3,321 2,906 5 to 10 years 10,633 11,475 Over 10 years 2,224 724 25,984 23,705 Derivative liabilities held for trading have the following fair values and maturities. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives (166 ) (283 ) (201 ) (1 ) (23 ) (70 ) (744 ) Oil price derivatives (1,405 ) (56 ) (14 ) (2 ) (1 ) — (1,478 ) Natural gas price derivatives (1,070 ) (522 ) (446 ) (399 ) (363 ) (2,071 ) (4,871 ) Power price derivatives (395 ) (165 ) (104 ) (76 ) (51 ) (161 ) (952 ) (3,036 ) (1,026 ) (765 ) (478 ) (438 ) (2,302 ) (8,045 ) $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives (299 ) (71 ) (256 ) (171 ) (3 ) (98 ) (898 ) Oil price derivatives (1,560 ) (232 ) (43 ) (12 ) (2 ) — (1,849 ) Natural gas price derivatives (1,030 ) (557 ) (391 ) (338 ) (285 ) (1,287 ) (3,888 ) Power price derivatives (401 ) (213 ) (95 ) (54 ) (47 ) (133 ) (943 ) (3,290 ) (1,073 ) (785 ) (575 ) (337 ) (1,518 ) (7,578 )

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Financial Instruments [Abstract]
Disclosure of fair value of derivative instruments	The following table shows the fair value of derivative assets and derivative liabilities held for trading, analysed by maturity period and by methodology of fair value estimation. This information is presented on a gross basis, that is, before netting by counterparty. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Fair value of derivative assets Level 1 63 6 2 — 2 1 74 Level 2 5,344 1,014 439 210 120 42 7,169 Level 3 779 501 485 540 452 2,708 5,465 6,186 1,521 926 750 574 2,751 12,708 Less: netting by counterparty (2,041 ) (291 ) (80 ) (36 ) (29 ) (247 ) (2,724 ) 4,145 1,230 846 714 545 2,504 9,984 Fair value of derivative liabilities Level 1 (49 ) (8 ) (4 ) (1 ) (2 ) (1 ) (65 ) Level 2 (4,522 ) (932 ) (458 ) (146 ) (113 ) (101 ) (6,272 ) Level 3 (506 ) (377 ) (383 ) (367 ) (352 ) (2,447 ) (4,432 ) (5,077 ) (1,317 ) (845 ) (514 ) (467 ) (2,549 ) (10,769 ) Less: netting by counterparty 2,041 291 80 36 29 247 2,724 (3,036 ) (1,026 ) (765 ) (478 ) (438 ) (2,302 ) (8,045 ) Net fair value 1,109 204 81 236 107 202 1,939 $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Fair value of derivative assets Level 1 111 14 3 — — — 128 Level 2 5,000 1,362 504 262 120 72 7,320 Level 3 491 385 353 331 427 1,640 3,627 5,602 1,761 860 593 547 1,712 11,075 Less: netting by counterparty (1,765 ) (402 ) (98 ) (37 ) (29 ) (180 ) (2,511 ) 3,837 1,359 762 556 518 1,532 8,564 Fair value of derivative liabilities Level 1 (156 ) (11 ) (2 ) (2 ) — — (171 ) Level 2 (4,562 ) (1,161 ) (576 ) (308 ) (67 ) (163 ) (6,837 ) Level 3 (337 ) (303 ) (305 ) (302 ) (299 ) (1,535 ) (3,081 ) (5,055 ) (1,475 ) (883 ) (612 ) (366 ) (1,698 ) (10,089 ) Less: netting by counterparty 1,765 402 98 37 29 180 2,511 (3,290 ) (1,073 ) (785 ) (575 ) (337 ) (1,518 ) (7,578 ) Net fair value 547 286 (23 ) (19 ) 181 14 986 The fair values of derivative financial instruments at 31 December are set out below. Exchange traded derivatives are valued using closing prices provided by the exchange as at the balance sheet date. These derivatives are categorized within level 1 of the fair value hierarchy. Exchange traded derivatives are typically considered settled through the (normally daily) payment or receipt of variation margin. Over-the-counter (OTC) financial swaps and physical commodity sale and purchase contracts are generally valued using readily available information in the public markets and quotations provided by brokers and price index developers. These quotes are corroborated with market data and are categorized within level 2 of the fair value hierarchy. In certain less liquid markets, or for longer-term contracts, forward prices are not as readily available. In these circumstances, OTC financial swaps and physical commodity sale and purchase contracts are valued using internally developed methodologies that consider historical relationships between various commodities, and that result in management’s best estimate of fair value. These contracts are categorized within level 3 of the fair value hierarchy. 30 . Derivative financial instruments – continued Financial OTC and physical commodity options are valued using industry standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and contractual prices for the underlying instruments, as well as other relevant economic factors. The degree to which these inputs are observable in the forward markets determines whether the option is categorized within level 2 or level 3 of the fair value hierarchy. $ million 2019 2018 Fair value asset Fair value liability Fair value asset Fair value liability Derivatives held for trading Currency derivatives 81 (744 ) 69 (898 ) Oil price derivatives 1,918 (1,478 ) 2,361 (1,849 ) Natural gas price derivatives 6,569 (4,871 ) 4,787 (3,888 ) Power price derivatives 1,306 (952 ) 1,240 (943 ) Other derivatives 110 — 107 — 9,984 (8,045 ) 8,564 (7,578 ) Embedded derivatives Other embedded derivatives — (77 ) — (107 ) — (77 ) — (107 ) Cash flow hedges Currency forwards 1 (4 ) 5 (14 ) Gas price futures — — 2 — 1 (4 ) 7 (14 ) Fair value hedges Currency swaps 344 (637 ) 158 (789 ) Interest rate swaps 138 (35 ) 262 (445 ) 482 (672 ) 420 (1,234 ) 10,467 (8,798 ) 8,991 (8,933 ) Of which – current 4,153 (3,261 ) 3,846 (3,308 ) – non-current 6,314 (5,537 ) 5,145 (5,625 )
Derivative assets held for trading fair value, and maturities	Derivative assets held for trading have the following fair values and maturities. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives 48 23 9 1 — — 81 Oil price derivatives 1,619 114 76 53 45 11 1,918 Natural gas price derivatives 1,889 824 615 489 433 2,319 6,569 Power price derivatives 556 269 146 94 67 174 1,306 Other derivatives 33 — — 77 — — 110 4,145 1,230 846 714 545 2,504 9,984 $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives 48 12 9 — — — 69 Oil price derivatives 1,916 363 53 25 4 — 2,361 Natural gas price derivatives 1,333 708 542 452 352 1,400 4,787 Power price derivatives 540 276 158 79 55 132 1,240 Other derivatives — — — — 107 — 107 3,837 1,359 762 556 518 1,532 8,564
Derivative liabilities held for trading, fair value and maturities	For further information on our derivative financial instruments, see Note 30 . $ million Cash outflows for derivative financial instruments at 31 December 2019 2018 Within one year 1,678 1,700 1 to 2 years 2,384 1,678 2 to 3 years 2,838 2,384 3 to 4 years 2,906 2,838 4 to 5 years 3,321 2,906 5 to 10 years 10,633 11,475 Over 10 years 2,224 724 25,984 23,705 Derivative liabilities held for trading have the following fair values and maturities. $ million 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives (166 ) (283 ) (201 ) (1 ) (23 ) (70 ) (744 ) Oil price derivatives (1,405 ) (56 ) (14 ) (2 ) (1 ) — (1,478 ) Natural gas price derivatives (1,070 ) (522 ) (446 ) (399 ) (363 ) (2,071 ) (4,871 ) Power price derivatives (395 ) (165 ) (104 ) (76 ) (51 ) (161 ) (952 ) (3,036 ) (1,026 ) (765 ) (478 ) (438 ) (2,302 ) (8,045 ) $ million 2018 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years Over 5 years Total Currency derivatives (299 ) (71 ) (256 ) (171 ) (3 ) (98 ) (898 ) Oil price derivatives (1,560 ) (232 ) (43 ) (12 ) (2 ) — (1,849 ) Natural gas price derivatives (1,030 ) (557 ) (391 ) (338 ) (285 ) (1,287 ) (3,888 ) Power price derivatives (401 ) (213 ) (95 ) (54 ) (47 ) (133 ) (943 ) (3,290 ) (1,073 ) (785 ) (575 ) (337 ) (1,518 ) (7,578 )
Disclosure of changes in fair value of derivative instruments	30 . Derivative financial instruments – continued Level 3 derivatives The following table shows the changes during the year in the net fair value of derivatives held for trading purposes within level 3 of the fair value hierarchy. $ million Oil price Natural gas price Power price Other Total Fair value contracts at 1 January 2019 23 (13 ) (148 ) 107 (31 ) Gains (losses) recognized in the income statement 128 82 244 2 456 Gains (losses) recognized in other comprehensive income — — (18 ) — (18 ) Settlements (79 ) (21 ) (179 ) — (279 ) Transfers out of level 3 (1 ) (20 ) (24 ) 1 (44 ) Net fair value of contracts at 31 December 2019 71 28 (125 ) 110 84 Deferred day-one gains (losses) 949 Derivative asset (liability) 1,033 $ million Oil price Natural gas price Power price Other Total Fair value contracts at 1 January 2018 67 65 (226 ) 115 21 Gains (losses) recognized in the income statement 58 (26 ) 209 (8 ) 233 Settlements (107 ) (32 ) (97 ) — (236 ) Transfers out of level 3 5 (20 ) (34 ) — (49 ) Net fair value of contracts at 31 December 2018 23 (13 ) (148 ) 107 (31 ) Deferred day-one gains (losses) 577 Derivative asset (liability) 546
Disclosure of detailed information about hedging instruments and items	The tables below summarize the change in the fair value of hedging instruments and the hedged item used to calculate ineffectiveness in the period. $ million Change in fair value of hedging instrument used to calculate ineffectiveness Change in fair value of hedged item used to calculate ineffectiveness Hedge ineffectiveness recognized in profit or (loss) At 31 December 2019 Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure (1 ) 1 — Commodity price risk Highly probable forecast sales (100 ) 100 — At 31 December 2018 Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure (5 ) 5 — Commodity price risk Highly probable forecast sales (126 ) 126 — The tables below summarize the carrying amount and nominal amount of the derivatives designated as hedging instruments in cash flow hedge relationships. Carrying amount of hedging instrument Nominal amounts of hedging instruments Assets Liabilities At 31 December 2019 $ million $ million $ million mmBtu Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure 1 (4 ) 150 At 31 December 2018 Cash flow hedges Foreign exchange risk Highly probable forecast capital expenditure 5 (14 ) 386 Commodity price risk Highly probable forecast sales 2 — 145 All hedging instruments are presented within derivative financial instruments on the group balance sheet. Of the nominal amount of hedging instruments at 31 December relating to highly probably forecast capital expenditure $150 million (2018 $304 million ) matures within 12 months and $nil (2018 $82 million ) within one to two years. All of the hedging instruments relating to highly probable forecast sales at 31 December 2018 matured in 2019. 30 . Derivative financial instruments – continued The table below summarizes the weighted average exchange rates and the weighted average sales price in relation to the derivatives designated as hedging instruments in cash flow hedge relationships at 31 December. Weighted average price/rate 2019 2018 At 31 December Forecast capital expenditure Forecast capital expenditure Forecast sales Sterling/US dollar 1.35 1.34 Euro/US dollar 1.11 1.14 Australian dollar/US dollar — 0.72 Norwegian krone/US dollar — 8.67 Korean won/US dollar 1,115.66 1,107.90 Henry Hub $/mmBtu 2.86 The tables below summarize the change in the fair value of hedging instruments and the hedged item used to calculate ineffectiveness in the period. The signage convention for changes in fair value presented in this table is consistent with that presented in Note 27. $ million Change in fair value of hedging instrument used to calculate ineffectiveness Change in fair value of hedged item used to calculate ineffectiveness Hedge ineffectiveness recognized in profit or (loss) At 31 December 2019 Fair value hedges Interest rate risk on finance debt (764 ) 737 27 Interest rate and foreign currency risk on finance debt (336 ) 286 50 At 31 December 2018 Fair value hedges Interest rate risk on finance debt (70 ) 69 (1 ) Interest rate and foreign currency risk on finance debt 812 (809 ) 3 30 . Derivative financial instruments – continued The tables below summarize the carrying amount of the derivatives designated as hedging instruments in fair value hedge relationships at 31 December. $ million Carrying amount of hedging instrument Nominal amounts of hedging instruments At 31 December 2019 Assets Liabilities Fair value hedges Interest rate risk on finance debt 138 (35 ) 13,442 Interest rate and foreign currency risk on finance debt 344 (637 ) 21,296 At 31 December 2018 Fair value hedges Interest rate risk on finance debt 262 (445 ) 24,513 Interest rate and foreign currency risk on finance debt 158 (789 ) 16,580 All hedging instruments are presented within derivative financial instruments on the group balance sheet. Ineffectiveness arising on fair value hedges is included within the production and manufacturing expenses section of the income statement. The tables below summarize the profile by tenor of the nominal amount of the derivatives designated as hedging instruments in fair value hedge relationships at 31 December. The weighted average floating interest rate of these interest rate swaps and cross-currency interest rate swaps was 2.36% (2018 3.04%) and 3.27% (2018 4.07%) respectively. $ million At 31 December 2019 Less than 1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Over 10 years Total Fair value hedges Interest rate risk on finance debt 3,000 2,576 4,039 1,200 206 2,421 — 13,442 Interest rate and foreign currency risk on finance debt 882 672 1,400 2,777 3,109 10,216 2,240 21,296 At 31 December 2018 Fair value hedges Interest rate risk on finance debt 2,694 2,324 2,597 4,923 1,700 10,275 — 24,513 Interest rate and foreign currency risk on finance debt — 1,245 1,167 707 2,921 10,254 286 16,580 The tables below summarize the carrying amount, and the accumulated fair value adjustments included within the carrying amount, of the hedged items designated in fair value hedge relationships at 31 December. $ million Carrying amount of hedged item Accumulated fair value adjustment included in the carrying amount of hedged items At 31 December 2019 Assets Liabilities Assets Liabilities Discontinued hedges Fair value hedges Interest rate risk on finance debt — (13,441 ) — (100 ) (714 ) Interest rate and foreign currency risk on finance debt — (21,240 ) — (525 ) — At 31 December 2018 Fair value hedges Interest rate risk on finance debt — (24,747 ) 175 — (360 ) Interest rate and foreign currency risk on finance debt — (16,883 ) — (62 ) — The hedged item for all fair value hedges is presented within finance debt on the group balance sheet. 30 . Derivative financial instruments – continued Movement in reserves related to hedge accounting The table below provides a reconciliation of the cash flow hedge and costs of hedging reserves on a pre-tax basis by risk category. The signage convention of this table is consistent with that presented in Note 32 . $ million Cash flow hedge reserve Costs of hedging reserve Highly probable forecast capital expenditure Highly probable forecast sales Purchase of equity a Interest rate and foreign currency risk on finance debt Total At 1 January 2019 (21 ) (6 ) (651 ) (223 ) (901 ) Recognized in other comprehensive income Cash flow hedges marked to market (3 ) (100 ) — — (103 ) Cash flow hedges reclassified to the income statement - hedged item affected profit or loss — 106 — — 106 Costs of hedging marked to market — — — (4 ) (4 ) Costs of hedging reclassified to the income statement — — — 57 57 (3 ) 6 — 53 56 Cash flow hedges transferred to the balance sheet 23 — — — 23 At 31 December 2019 (1 ) — (651 ) (170 ) (822 ) $ million Cash flow hedge reserve Costs of hedging reserve Highly probable forecast capital expenditure Highly probable forecast sales Purchase of equity a Interest rate and foreign currency risk on finance debt Total At 31 December 2017 (10 ) — (651 ) — (661 ) Adjustment on adoption of IFRS 9 — — — (37 ) (37 ) At 1 January 2018 (10 ) — (651 ) (37 ) (698 ) Recognized in other comprehensive income Cash flow hedges marked to market (37 ) (126 ) — — (163 ) Cash flow hedges reclassified to the income statement - hedged item affected profit or loss — 120 — — 120 Costs of hedging marked to market — — — (244 ) (244 ) Costs of hedging reclassified to the income statement — — — 58 58 (37 ) (6 ) — (186 ) (229 ) Cash flow hedges transferred to the balance sheet 26 — — — 26 At 31 December 2018 (21 ) (6 ) (651 ) (223 ) (901 ) a See Note 32 for further information on the cash flow hedge reserve relating to the purchase of equity

Called-up share capital (Tables

Called-up share capital (Tables)	12 Months Ended
	Dec. 31, 2019
Share Capital, Reserves And Other Equity Interest [Abstract]
Disclosure of classes of share capital	The allotted, called up and fully paid share capital at 31 December was as follows: 2019 2018 2017 Issued Shares thousand $ million Shares thousand $ million Shares thousand $ million 8% cumulative first preference shares of £1 each a 7,233 12 7,233 12 7,233 12 9% cumulative second preference shares of £1 each a 5,473 9 5,473 9 5,473 9 21 21 21 Ordinary shares of 25 cents each At 1 January 21,525,464 5,381 21,288,193 5,322 21,049,696 5,263 Issue of new shares for the scrip dividend programme 208,927 52 195,305 49 289,789 72 Issue of new shares for employee share-based payment plans 37,400 9 92,168 23 — — Issue of new shares – other — — — — — — Repurchase of ordinary share capital (235,951 ) (59 ) (50,202 ) (13 ) (51,292 ) (13 ) At 31 December 21,535,840 5,383 21,525,464 5,381 21,288,193 5,322 5,404 5,402 5,343 a The nominal amount of 8% cumulative first preference shares and 9% cumulative second preference shares that can be in issue at any time shall not exceed £10,000,000 for each class of preference shares. Treasury shares a 2019 2018 2017 Shares thousand Nominal value $ million Shares thousand Nominal value $ million Shares thousand Nominal value $ million At 1 January 1,426,265 356 1,482,072 370 1,614,657 403 Purchases for settlement of employee share plans 1,118 — 757 — 4,423 1 Issue of new shares for employee share-based payment plans 37,400 9 92,168 23 — — Shares re-issued for employee share-based payment plans (167,927 ) (42 ) (148,732 ) (37 ) (137,008 ) (34 ) At 31 December 1,296,856 323 1,426,265 356 1,482,072 370 Of which – shares held in treasury by BP 1,163,077 290 1,264,732 316 1,472,343 368 – shares held in ESOP trusts 133,707 33 161,518 40 9,705 2 – shares held by BP’s US share plan administrator b 72 — 15 — 24 — a See Note 32 for definition of treasury shares. b Held in the form of ADSs to meet the requirements of employee share-based payment plans in the US.

Capital and reserves (Tables)

Capital and reserves (Tables)	12 Months Ended
	Dec. 31, 2019
Share Capital, Reserves And Other Equity Interest [Abstract]
Disclosure of reserves and other equity interest	Share capital Share premium account Capital redemption reserve Merger reserve Total share capital and capital reserves At 31 December 2018 5,402 12,305 1,439 27,206 46,352 Adjustment on adoption of IFRS 16, net of tax — — — — — At 1 January 2019 5,402 12,305 1,439 27,206 46,352 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Cash flow hedges and costs of hedging (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Cash flow hedges that will subsequently be transferred to the balance sheet — — — — — Total comprehensive income — — — — — Dividends 52 (52 ) — — — Cash flow hedges transferred to the balance sheet, net of tax — — — — — Repurchases of ordinary share capital (59 ) — 59 — — Share-based payments, net of tax b 9 164 — — 173 Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax c — — — — — At 31 December 2019 5,404 12,417 1,498 27,206 46,525 At 31 December 2017 5,343 12,147 1,426 27,206 46,122 Adjustment on adoption of IFRS 9, net of tax — — — — — At 1 January 2018 5,343 12,147 1,426 27,206 46,122 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Cash flow hedges and costs of hedging (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Cash flow hedges that will subsequently be transferred to the balance sheet — — — — — Total comprehensive income — — — — — Dividends 49 (49 ) — — — Cash flow hedges transferred to the balance sheet, net of tax — — — — — Repurchases of ordinary share capital (13 ) — 13 — — Share-based payments, net of tax b 23 207 — — 230 Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax — — — — — At 31 December 2018 5,402 12,305 1,439 27,206 46,352 At 1 January 2017 5,284 12,219 1,413 27,206 46,122 Profit (loss) for the year — — — — — Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) — — — — — Available-for-sale investments (including reclassifications) — — — — — Cash flow hedges (including reclassifications) — — — — — Share of items relating to equity-accounted entities, net of tax a — — — — — Other — — — — — Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — — — — — Total comprehensive income — — — — — Dividends 72 (72 ) — — — Repurchases of ordinary share capital (13 ) — 13 — — Share-based payments, net of tax b — — — — — Share of equity-accounted entities’ changes in equity, net of tax — — — — — Transactions involving non-controlling interests, net of tax d — — — — — At 31 December 2017 5,343 12,147 1,426 27,206 46,122 a Principally foreign exchange effects relating to the Russian rouble. b Movements in treasury shares relate to employee share-based payment plans. 32 . Capital and reserves – continued $ million Treasury shares Foreign currency translation reserve Available- for-sale investments Cash flow hedges Costs of hedging Total fair value reserves Profit and loss account BP shareholders’ equity Non- controlling interests Total equity (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,748 99,444 2,104 101,548 — — — — — — (329 ) (329 ) (1 ) (330 ) (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,419 99,115 2,103 101,218 — — — — — — 4,026 4,026 164 4,190 — 2,407 — — — — — 2,407 9 2,416 — — — 5 50 55 — 55 — 55 — — — — — — 82 82 — 82 — — — — — — (64 ) (64 ) — (64 ) — — — — — — 171 171 — 171 — — — (3 ) — (3 ) — (3 ) — (3 ) — 2,407 — 2 50 52 4,215 6,674 173 6,847 — — — — — — (6,929 ) (6,929 ) (213 ) (7,142 ) — — — 23 — 23 — 23 — 23 — — — — — — (1,511 ) (1,511 ) — (1,511 ) 1,355 — — — — — (809 ) 719 — 719 — — — — — — 5 5 — 5 — — — — — — 316 316 233 549 (14,412 ) (6,495 ) — (752 ) (160 ) (912 ) 73,706 98,412 2,296 100,708 (16,958 ) (5,156 ) 17 (760 ) — (743 ) 75,226 98,491 1,913 100,404 — — (17 ) — (37 ) (54 ) (126 ) (180 ) — (180 ) (16,958 ) (5,156 ) — (760 ) (37 ) (797 ) 75,100 98,311 1,913 100,224 — — — — — — 9,383 9,383 195 9,578 — (3,746 ) — — — — — (3,746 ) (41 ) (3,787 ) — — — (6 ) (173 ) (179 ) — (179 ) — (179 ) — — — — — — 417 417 — 417 — — — — — — 7 7 — 7 — — — — — — 1,599 1,599 — 1,599 — — — (37 ) — (37 ) — (37 ) — (37 ) — (3,746 ) — (43 ) (173 ) (216 ) 11,406 7,444 154 7,598 — — — — — — (6,699 ) (6,699 ) (170 ) (6,869 ) — — — 26 — 26 — 26 — 26 — — — — — — (355 ) (355 ) — (355 ) 1,191 — — — — — (718 ) 703 — 703 — — — — — — 14 14 — 14 — — — — — — — — 207 207 (15,767 ) (8,902 ) — (777 ) (210 ) (987 ) 78,748 99,444 2,104 101,548 (18,443 ) (6,878 ) 3 (1,156 ) — (1,153 ) 75,638 95,286 1,557 96,843 — — — — — — 3,389 3,389 79 3,468 — 1,722 — — — — (3 ) 1,719 52 1,771 — — 14 — — 14 — 14 — 14 — — — 396 — 396 — 396 — 396 — — — — — — 564 564 — 564 — — — — — — (72 ) (72 ) — (72 ) — — — — — — 2,343 2,343 — 2,343 — 1,722 14 396 — 410 6,221 8,353 131 8,484 — — — — — — (6,153 ) (6,153 ) (141 ) (6,294 ) — — — — — — (343 ) (343 ) — (343 ) 1,485 — — — — — (798 ) 687 — 687 — — — — — — 215 215 — 215 — — — — — — 446 446 366 812 (16,958 ) (5,156 ) 17 (760 ) — (743 ) 75,226 98,491 1,913 100,404 c Principally relates to the sale of a 49% interest in BP's retail property portfolio in Australia. d Principally relates to the initial public offering of common units in BP Midstream Partners LP for which net proceeds of $811 million were received.
Disclosure of pre-tax and tax amounts components of other comprehensive income	The pre-tax amounts of each component of other comprehensive income, and the related amounts of tax, are shown in the table below. $ million 2019 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) 2,418 (2 ) 2,416 Cash flow hedges (including reclassifications) 6 (1 ) 5 Costs of hedging (including reclassifications) 53 (3 ) 50 Share of items relating to equity-accounted entities, net of tax 82 — 82 Other — (64 ) (64 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 328 (157 ) 171 Cash flow hedges that will subsequently be transferred to the balance sheet (3 ) — (3 ) Other comprehensive income 2,884 (227 ) 2,657 $ million 2018 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) (3,771 ) (16 ) (3,787 ) Cash flow hedges (including reclassifications) (6 ) — (6 ) Costs of hedging (including reclassifications) (186 ) 13 (173 ) Share of items relating to equity-accounted entities, net of tax 417 — 417 Other — 7 7 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 2,317 (718 ) 1,599 Cash flow hedges that will subsequently be transferred to the balance sheet (37 ) — (37 ) Other comprehensive income (1,266 ) (714 ) (1,980 ) $ million 2017 Pre-tax Tax Net of tax Items that may be reclassified subsequently to profit or loss Currency translation differences (including reclassifications) 1,866 (95 ) 1,771 Available-for-sale investments (including reclassifications) 14 — 14 Cash flow hedges (including reclassifications) 425 (29 ) 396 Share of items relating to equity-accounted entities, net of tax 564 — 564 Other — (72 ) (72 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset 3,646 (1,303 ) 2,343 Other comprehensive income 6,515 (1,499 ) 5,016

Remuneration of senior manage_2

Remuneration of senior management and non-executive directors (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party [Abstract]
Remuneration of directors and senior management	Remuneration of directors $ million 2019 2018 2017 Total for all directors Emoluments 9 8 9 Amounts received under incentive schemes a 20 16 9 Total 29 24 18 a Excludes amounts relating to past directors. Remuneration of directors and senior management $ million 2019 2018 2017 Total for all senior management and non-executive directors Short-term employee benefits 30 25 29 Pensions and other post-retirement benefits 2 2 2 Share-based payments 32 32 29 Total 64 59 60

Employee costs and numbers (Tab

Employee costs and numbers (Tables)	12 Months Ended
	Dec. 31, 2019
Additional information [abstract]
Employee costs and average number of employees	$ million Employee costs 2019 2018 2017 Wages and salaries a 7,497 7,931 7,572 Social security costs 733 743 711 Share-based payments b 694 669 624 Pension and other post-retirement benefit costs 948 1,154 1,296 9,872 10,497 10,203 2019 2018 2017 Average number of employees c US Non-US Total US Non-US Total US Non-US Total Upstream 5,800 11,000 16,800 5,900 11,500 17,400 6,200 12,200 18,400 Downstream d 5,700 37,300 43,000 6,000 36,300 42,300 6,100 35,900 42,000 Other businesses and corporate e 2,100 10,600 12,700 1,900 12,100 14,000 1,900 12,400 14,300 13,600 58,900 72,500 13,800 59,900 73,700 14,200 60,500 74,700 a Includes termination costs of $182 million ( 2018 $493 million and 2017 $189 million ). b The group provides certain employees with shares and share options as part of their remuneration packages. The majority of these share-based payment arrangements are equity-settled. c Reported to the nearest 100. d Includes 18,100 ( 2018 17,100 and 2017 16,500 ) service station staff. e Includes 2,500 ( 2018 4,000 and 2017 4,700 ) agricultural, operational and seasonal workers in Brazil.

Auditor_s remuneration (Tables)

Auditor’s remuneration (Tables)	12 Months Ended
	Dec. 31, 2019
Additional information [abstract]
Summary of auditor's remuneration	$ million Fees 2019 2018 2017 The audit of the company annual accounts a 32 25 26 The audit of accounts of subsidiaries of the company 11 10 11 Total audit 43 35 37 Audit-related assurance services b 4 4 7 Total audit and audit-related assurance services 47 39 44 Non-audit and other assurance services 1 2 3 Total non-audit or non-audit-related assurance services 1 2 3 Services relating to BP pension plans 1 1 — 49 42 47 a Fees in respect of the audit of the accounts of BP p.l.c. including the group’s consolidated financial statements. b Includes interim reviews and audit of internal control over financial reporting and non-statutory audit services.

Subsidiaries, joint arrangeme_2

Subsidiaries, joint arrangements and associates (Tables)	12 Months Ended
	Dec. 31, 2019
Interest In Other Entities [Abstract]
Disclosure of interests in subsidiaries, joint arrangements, and associates	The more important subsidiaries and associates of the group at 31 December 2019 and the group percentage of ordinary share capital (to nearest whole number) are set out below. There are no individually significant incorporated joint arrangements. The group's share of the assets and liabilities of the more important unincorporated joint arrangements are held by subsidiaries listed in the table below. Those subsidiaries held directly by the parent company are marked with an asterisk (*), the percentage owned being that of the group unless otherwise indicated. A complete list of undertakings of the group is included in Note 14 in the parent company financial statements of BP p.l.c. which are filed with the Registrar of Companies in the UK, along with the group’s annual report. Subsidiaries % Country of incorporation Principal activities International BP Corporate Holdings 100 England & Wales Investment holding BP Exploration Operating Company 100 England & Wales Exploration and production *BP Global Investments 100 England & Wales Investment holding *BP International 100 England & Wales Integrated oil operations BP Oil International 100 England & Wales Integrated oil operations *Burmah Castrol 100 Scotland Lubricants Angola BP Exploration (Angola) 100 England & Wales Exploration and production Azerbaijan BP Exploration (Caspian Sea) 100 England & Wales Exploration and production BP Exploration (Azerbaijan) 100 England & Wales Exploration and production Canada *BP Holdings Canada 100 England & Wales Investment holding Egypt BP Exploration (Delta) 100 England & Wales Exploration and production Germany BP Europa SE 100 Germany Refining and marketing India BP Exploration (Alpha) 100 England & Wales Exploration and production Trinidad & Tobago BP Trinidad and Tobago 70 US Exploration and production UK BP Capital Markets 100 England & Wales Finance US *BP Holdings North America 100 England & Wales Investment holding Atlantic Richfield Company 100 US Exploration and production, refining and marketing BP America 100 US BP America Production Company 100 US BP Company North America 100 US BP Corporation North America 100 US BP Exploration (Alaska) 100 US BP Products North America 100 US Standard Oil Company 100 US BP Capital Markets America 100 US Finance Associates % Country of incorporation Principal activities Russia Rosneft Oil Company 19.75 Russia Integrated oil operations

Condensed consolidating infor_2

Condensed consolidating information on certain US subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure Of Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed consolidating information on certain US subsidiaries	Condensed consolidating information on certain US subsidiaries BP p.l.c. fully and unconditionally guarantees the payment obligations of its 100% -owned subsidiary BP Exploration (Alaska) Inc. under the BP Prudhoe Bay Royalty Trust. As described in Note 2, in 2020 BP expects, subject to governmental authorizations, to complete the sale of all of its Alaska operations, including its interest in BP Exploration (Alaska) Inc., to Hilcorp Energy. Following completion of the sale, BP will continue to fully and unconditionally guarantee the payment obligations of BP Exploration (Alaska) Inc. to the BP Prudhoe Bay Royalty Trust. The following financial information for BP p.l.c., BP Exploration (Alaska) Inc. and all other subsidiaries on a condensed consolidating basis is intended to provide investors with meaningful and comparable financial information about BP p.l.c. and its subsidiary issuers of registered securities and is provided pursuant to Rule 3-10 of Regulation S-X in lieu of the separate financial statements of each subsidiary issuer of public debt securities. Non-current assets for BP p.l.c. includes investments in subsidiaries recorded under the equity method for the purposes of the condensed consolidating financial information. Equity-accounted income of subsidiaries is the group’s share of profit related to such investments. The eliminations and reclassifications column includes the necessary amounts to eliminate the intercompany balances and transactions between BP p.l.c., BP Exploration (Alaska) Inc. and other subsidiaries. The financial information presented in the following tables for BP Exploration (Alaska) Inc. incorporates subsidiaries of BP Exploration (Alaska) Inc. using the equity method of accounting and excludes the BP group’s midstream operations in Alaska that are reported through different legal entities and that are included within the ‘other subsidiaries’ column in these tables. BP p.l.c. also fully and unconditionally guarantees securities issued by BP Capital Markets p.l.c. and BP Capital Markets America Inc. These companies are 100% -owned finance subsidiaries of BP p.l.c. Income statement $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 4,413 — 278,111 (4,127 ) 278,397 Earnings from joint ventures - after interest and tax — — 576 — 576 Earnings from associates - after interest and tax — — 2,681 — 2,681 Equity-accounted income of subsidiaries - after interest and tax — 5,916 — (5,916 ) — Interest and other income 42 385 2,284 (1,942 ) 769 Gains on sale of businesses and fixed assets 4 — 189 — 193 Total revenues and other income 4,459 6,301 283,841 (11,985 ) 282,616 Purchases 2,361 — 211,438 (4,127 ) 209,672 Production and manufacturing expenses 907 — 20,908 — 21,815 Production and similar taxes 163 — 1,384 — 1,547 Depreciation, depletion and amortization 169 — 17,611 — 17,780 Impairment and losses on sale of businesses and fixed assets 747 — 7,328 — 8,075 Exploration expense — — 964 — 964 Distribution and administration expenses 75 803 10,333 (154 ) 11,057 Profit (loss) before interest and taxation 37 5,498 13,875 (7,704 ) 11,706 Finance costs 17 1,569 3,691 (1,788 ) 3,489 Net finance (income) expense relating to pensions and other post-retirement benefits — (153 ) 216 — 63 Profit (loss) before taxation 20 4,082 9,968 (5,916 ) 8,154 Taxation (40 ) 56 3,948 — 3,964 Profit (loss) for the year 60 4,026 6,020 (5,916 ) 4,190 Attributable to BP shareholders 60 4,026 5,856 (5,916 ) 4,026 Non-controlling interests — — 164 — 164 60 4,026 6,020 (5,916 ) 4,190 38 . Condensed consolidating information on certain US subsidiaries – continued Income statement continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 4,315 — 298,620 (4,179 ) 298,756 Earnings from joint ventures - after interest and tax — — 897 — 897 Earnings from associates - after interest and tax — — 2,856 — 2,856 Equity-accounted income of subsidiaries - after interest and tax — 10,942 — (10,942 ) — Interest and other income 42 373 2,081 (1,723 ) 773 Gains on sale of businesses and fixed assets — — 456 — 456 Total revenues and other income 4,357 11,315 304,910 (16,844 ) 303,738 Purchases 1,507 — 232,550 (4,179 ) 229,878 Production and manufacturing expenses 1,015 — 21,990 — 23,005 Production and similar taxes 282 — 1,254 — 1,536 Depreciation, depletion and amortization 377 — 15,080 — 15,457 Impairment and losses on sale of businesses and fixed assets 66 — 794 — 860 Exploration expense — — 1,445 — 1,445 Distribution and administration expenses 22 642 11,673 (158 ) 12,179 Profit (loss) before interest and taxation 1,088 10,673 20,124 (12,507 ) 19,378 Finance costs 8 1,326 2,759 (1,565 ) 2,528 Net finance (income) expense relating to pensions and other post-retirement benefits — (95 ) 222 — 127 Profit (loss) before taxation 1,080 9,442 17,143 (10,942 ) 16,723 Taxation 164 59 6,922 — 7,145 Profit (loss) for the year 916 9,383 10,221 (10,942 ) 9,578 Attributable to BP shareholders 916 9,383 10,026 (10,942 ) 9,383 Non-controlling interests — — 195 — 195 916 9,383 10,221 (10,942 ) 9,578 Income statement continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 3,264 — 240,177 (3,233 ) 240,208 Earnings from joint ventures - after interest and tax — — 1,177 — 1,177 Earnings from associates - after interest and tax — — 1,330 — 1,330 Equity-accounted income of subsidiaries - after interest and tax — 4,436 — (4,436 ) — Interest and other income 11 369 1,470 (1,193 ) 657 Gains on sale of businesses and fixed assets 71 9 1,139 (9 ) 1,210 Total revenues and other income 3,346 4,814 245,293 (8,871 ) 244,582 Purchases 1,010 — 181,939 (3,233 ) 179,716 Production and manufacturing expenses 1,156 — 23,073 — 24,229 Production and similar taxes a (18 ) — 1,793 — 1,775 Depreciation, depletion and amortization 735 — 14,849 — 15,584 Impairment and losses on sale of businesses and fixed assets — — 1,216 — 1,216 Exploration expense — — 2,080 — 2,080 Distribution and administration expenses 19 616 10,022 (149 ) 10,508 Profit (loss) before interest and taxation 444 4,198 10,321 (5,489 ) 9,474 Finance costs 6 826 2,286 (1,044 ) 2,074 Net finance (income) expense relating to pensions and other post-retirement benefits — (15 ) 235 — 220 Profit (loss) before taxation 438 3,387 7,800 (4,445 ) 7,180 Taxation (392 ) (11 ) 4,115 — 3,712 Profit (loss) for the year 830 3,398 3,685 (4,445 ) 3,468 Attributable to BP shareholders 830 3,398 3,606 (4,445 ) 3,389 Non-controlling interests — — 79 — 79 830 3,398 3,685 (4,445 ) 3,468 a Includes revised non-cash provision adjustments; actual cash payments for Production and similar taxes remain in line with prior year. 38 . Condensed consolidating information on certain US subsidiaries – continued Statement of comprehensive income $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 60 4,026 6,020 (5,916 ) 4,190 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — 200 1,338 — 1,538 Exchange (gains) or losses on translation of foreign operations transferred to gain or loss on sale of businesses and fixed assets — — 880 — 880 Cash flow hedges marked to market — — (100 ) — (100 ) Cash flow hedges - recycled to the income statement — — 106 — 106 Costs of hedging market to market — — (4 ) — (4 ) Costs of hedging reclassified to the income statement — — 57 — 57 Share of items relating to equity-accounted entities, net of tax — — 82 — 82 Income tax relating to items that may be reclassified — — (70 ) — (70 ) — 200 2,289 — 2,489 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 732 (404 ) — 328 Cash flow hedges that will subsequently be transferred to the balance sheet — — (3 ) — (3 ) Income tax relating to items that will not be reclassified — (331 ) 174 — (157 ) — 401 (233 ) — 168 Other comprehensive income — 601 2,056 — 2,657 Equity-accounted other comprehensive income of subsidiaries — 2,047 — (2,047 ) — Total comprehensive income 60 6,674 8,076 (7,963 ) 6,847 Attributable to BP shareholders 60 6,674 7,903 (7,963 ) 6,674 Non-controlling interests — — 173 — 173 60 6,674 8,076 (7,963 ) 6,847 Statement of comprehensive income continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 916 9,383 10,221 (10,942 ) 9,578 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — (296 ) (3,475 ) — (3,771 ) Cash flow hedges (including reclassifications) — — (6 ) — (6 ) Costs of hedging (including reclassifications) — — (186 ) — (186 ) Share of items relating to equity-accounted entities, net of tax — — 417 — 417 Income tax relating to items that may be reclassified — — 4 — 4 — (296 ) (3,246 ) — (3,542 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 1,689 628 — 2,317 Cash flow hedges that will subsequently be transferred to the balance sheet — — (37 ) — (37 ) Income tax relating to items that will not be reclassified — (511 ) (207 ) — (718 ) — 1,178 384 — 1,562 Other comprehensive income — 882 (2,862 ) — (1,980 ) Equity-accounted other comprehensive income of subsidiaries — (2,821 ) — 2,821 — Total comprehensive income 916 7,444 7,359 (8,121 ) 7,598 Attributable to BP shareholders 916 7,444 7,205 (8,121 ) 7,444 Non-controlling interests — — 154 — 154 916 7,444 7,359 (8,121 ) 7,598 38 . Condensed consolidating information on certain US subsidiaries – continued Statement of comprehensive income continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 830 3,398 3,685 (4,445 ) 3,468 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — 166 1,820 — 1,986 Exchange (gains) losses on translation of foreign operations transferred to gain or loss on sale of businesses and fixed assets — — (120 ) — (120 ) Available-for-sale investments marked to market — — 14 — 14 Cash flow hedges marked to market — — 197 — 197 Cash flow hedges reclassified to the income statement — — 116 — 116 Cash flow hedges reclassified to the balance sheet — — 112 — 112 Share of items relating to equity-accounted entities, net of tax — — 564 — 564 Income tax relating to items that may be reclassified — — (196 ) — (196 ) — 166 2,507 — 2,673 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 2,984 662 — 3,646 Income tax relating to items that will not be reclassified — (1,169 ) (134 ) — (1,303 ) — 1,815 528 — 2,343 Other comprehensive income — 1,981 3,035 — 5,016 Equity-accounted other comprehensive income of subsidiaries — 2,983 — (2,983 ) — Total comprehensive income 830 8,362 6,720 (7,428 ) 8,484 Attributable to BP shareholders 830 8,362 6,589 (7,428 ) 8,353 Non-controlling interests — — 131 — 131 830 8,362 6,720 (7,428 ) 8,484 38 . Condensed consolidating information on certain US subsidiaries – continued Balance sheet $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Non-current assets Property, plant and equipment — — 132,642 — 132,642 Goodwill — — 11,868 — 11,868 Intangible assets — — 15,539 — 15,539 Investments in joint ventures — — 9,991 — 9,991 Investments in associates — 2 20,332 — 20,334 Other investments — — 1,276 — 1,276 Subsidiaries - equity-accounted basis — 167,895 — (167,895 ) — Fixed assets — 167,897 191,648 (167,895 ) 191,650 Loans — — 32,524 (31,894 ) 630 Trade and other receivables — 2,771 2,147 (2,771 ) 2,147 Derivative financial instruments — — 6,314 — 6,314 Prepayments — — 781 — 781 Deferred tax assets — — 4,560 — 4,560 Defined benefit pension plan surpluses — 6,588 465 — 7,053 — 177,256 238,439 (202,560 ) 213,135 Current assets Loans — — 339 — 339 Inventories 44 — 20,836 — 20,880 Trade and other receivables 690 135 42,157 (18,540 ) 24,442 Derivative financial instruments — — 4,153 — 4,153 Prepayments — — 857 — 857 Current tax receivable 45 — 1,237 — 1,282 Other investments — — 169 — 169 Cash and cash equivalents — — 22,472 — 22,472 779 135 92,220 (18,540 ) 74,594 Assets classified as held for sale 5,023 — 2,442 — 7,465 5,802 135 94,662 (18,540 ) 82,059 Total assets 5,802 177,391 333,101 (221,100 ) 295,194 Current liabilities Trade and other payables 436 17,986 46,947 (18,540 ) 46,829 Derivative financial instruments — — 3,261 — 3,261 Accruals 347 21 4,698 — 5,066 Lease liabilities — — 2,067 — 2,067 Finance debt — — 10,487 — 10,487 Current tax payable — — 2,039 — 2,039 Provisions — — 2,453 — 2,453 783 18,007 71,952 (18,540 ) 72,202 Liabilities directly associated with assets classified as held for sale 706 — 687 — 1,393 1,489 18,007 72,639 (18,540 ) 73,595 Non-current liabilities Other payables — 31,927 15,364 (34,665 ) 12,626 Derivative financial instruments — — 5,537 — 5,537 Accruals — — 996 — 996 Lease liabilities — — 7,655 — 7,655 Finance debt — — 57,237 — 57,237 Deferred tax liabilities 456 2,293 7,001 — 9,750 Provisions 114 — 18,384 — 18,498 Defined benefit pension plan and other post-retirement benefit plan deficits — 202 8,390 — 8,592 570 34,422 120,564 (34,665 ) 120,891 Total liabilities 2,059 52,429 193,203 (53,205 ) 194,486 Net assets 3,743 124,962 139,898 (167,895 ) 100,708 Equity BP shareholders’ equity 3,743 124,962 137,602 (167,895 ) 98,412 Non-controlling interests — — 2,296 — 2,296 3,743 124,962 139,898 (167,895 ) 100,708 38 . Condensed consolidating information on certain US subsidiaries – continued Balance sheet continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Non-current assets Property, plant and equipment 4,445 — 130,816 — 135,261 Goodwill — — 12,204 — 12,204 Intangible assets 598 — 16,686 — 17,284 Investments in joint ventures — — 8,647 — 8,647 Investments in associates — 2 17,671 — 17,673 Other investments — — 1,341 — 1,341 Subsidiaries - equity-accounted basis — 166,311 — (166,311 ) — Fixed assets 5,043 166,313 187,365 (166,311 ) 192,410 Loans — — 32,402 (31,765 ) 637 Trade and other receivables — 2,600 1,834 (2,600 ) 1,834 Derivative financial instruments — — 5,145 — 5,145 Prepayments — — 1,179 — 1,179 Deferred tax assets — — 3,706 — 3,706 Defined benefit pension plan surpluses — 5,473 482 — 5,955 5,043 174,386 232,113 (200,676 ) 210,866 Current assets Loans — — 326 — 326 Inventories 302 — 17,686 — 17,988 Trade and other receivables 2,536 151 38,931 (17,140 ) 24,478 Derivative financial instruments — — 3,846 — 3,846 Prepayments 7 — 956 — 963 Current tax receivable — — 1,019 — 1,019 Other investments — — 222 — 222 Cash and cash equivalents — 13 22,455 — 22,468 2,845 164 85,441 (17,140 ) 71,310 Total assets 7,888 174,550 317,554 (217,816 ) 282,176 Current liabilities Trade and other payables 413 14,634 48,358 (17,140 ) 46,265 Derivative financial instruments — — 3,308 — 3,308 Accruals 89 31 4,506 — 4,626 Lease liabilities — — 44 — 44 Finance debt — — 9,329 — 9,329 Current tax payable 310 — 1,791 — 2,101 Provisions 1 — 2,563 — 2,564 813 14,665 69,899 (17,140 ) 68,237 Non-current liabilities Other payables — 31,800 16,395 (34,365 ) 13,830 Derivative financial instruments — — 5,625 — 5,625 Accruals — — 575 — 575 Lease liabilities — — 623 — 623 Finance debt — — 55,803 — 55,803 Deferred tax liabilities 586 1,907 7,319 — 9,812 Provisions 670 — 17,062 — 17,732 Defined benefit pension plan and other post-retirement benefit plan deficits — 184 8,207 — 8,391 1,256 33,891 111,609 (34,365 ) 112,391 Total liabilities 2,069 48,556 181,508 (51,505 ) 180,628 Net assets 5,819 125,994 136,046 (166,311 ) 101,548 Equity BP shareholders’ equity 5,819 125,994 133,942 (166,311 ) 99,444 Non-controlling interests — — 2,104 — 2,104 5,819 125,994 136,046 (166,311 ) 101,548 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 20 4,082 9,968 (5,916 ) 8,154 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 631 — 631 Depreciation, depletion and amortization 169 — 17,611 — 17,780 Impairment and (gain) loss on sale of businesses and fixed assets 743 — 7,139 — 7,882 Earnings from joint ventures and associates — — (3,257 ) — (3,257 ) Dividends received from joint ventures and associates — — 1,962 — 1,962 Equity accounted income of subsidiaries - after interest and tax — (5,916 ) — 5,916 — Dividends received from subsidiaries — 6,360 — (6,360 ) — Interest receivable (1 ) — (2,228 ) 1,788 (441 ) Interest received 1 12 2,191 (1,788 ) 416 Finance costs 17 — 5,260 (1,788 ) 3,489 Interest paid (6 ) — (4,652 ) 1,788 (2,870 ) Net finance expense relating to pensions and other post-retirement benefits — (153 ) 216 — 63 Share-based payments — 739 (9 ) — 730 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (10 ) (228 ) — (238 ) Net charge for provisions, less payments 21 — (197 ) — (176 ) (Increase) decrease in inventories (31 ) — (3,375 ) — (3,406 ) (Increase) decrease in other current and non-current assets (132 ) (155 ) (2,048 ) — (2,335 ) Increase (decrease) in other current and non-current liabilities 1,954 3,469 (2,600 ) — 2,823 Income taxes paid (444 ) (1 ) (4,992 ) — (5,437 ) Net cash provided by (used in) operating activities 2,311 8,427 21,392 (6,360 ) 25,770 Investing activities Expenditure on property, plant and equipment, intangible and other assets (173 ) — (15,245 ) — (15,418 ) Acquisitions, net of cash acquired — — (3,562 ) — (3,562 ) Investment in joint ventures — — (137 ) — (137 ) Investment in associates — — (304 ) — (304 ) Total cash capital expenditure (173 ) — (19,248 ) — (19,421 ) Proceeds from disposals of fixed assets 19 — 481 — 500 Proceeds from disposals of businesses, net of cash disposed — — 1,701 — 1,701 Proceeds from loan repayments 21 — 225 — 246 Net cash provided by (used in) investing activities (133 ) — (16,841 ) — (16,974 ) Financing activities Repurchase of shares — (1,511 ) — — (1,511 ) Lease liability payments (46 ) — (2,326 ) — (2,372 ) Proceeds from long-term financing — — 8,597 — 8,597 Repayments of long-term financing — — (7,118 ) — (7,118 ) Net increase (decrease) in short-term debt — — 180 — 180 Net increase (decrease) in non-controlling interests — — 566 — 566 Dividends paid BP shareholders (2,132 ) (6,929 ) (4,245 ) 6,360 (6,946 ) Non-controlling interests — — (213 ) — (213 ) Net cash provided by (used in) financing activities (2,178 ) (8,440 ) (4,559 ) 6,360 (8,817 ) Currency translation differences relating to cash and cash equivalents — — 25 — 25 Increase (decrease) in cash and cash equivalents — (13 ) 17 — 4 Cash and cash equivalents at beginning of year — 13 22,455 — 22,468 Cash and cash equivalents at end of year — — 22,472 — 22,472 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 1,080 9,442 17,143 (10,942 ) 16,723 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 1,085 — 1,085 Depreciation, depletion and amortization 377 — 15,080 — 15,457 Impairment and (gain) loss on sale of businesses and fixed assets 66 — 338 — 404 Earnings from joint ventures and associates — — (3,753 ) — (3,753 ) Dividends received from joint ventures and associates — — 1,535 — 1,535 Equity accounted income of subsidiaries - after interest and tax — (10,942 ) — 10,942 — Dividends received from subsidiaries — 3,490 — (3,490 ) — Interest receivable (42 ) (215 ) (1,776 ) 1,565 (468 ) Interest received 42 215 1,656 (1,565 ) 348 Finance costs 8 1,326 2,759 (1,565 ) 2,528 Interest paid (8 ) (1,326 ) (2,159 ) 1,565 (1,928 ) Net finance expense relating to pensions and other post-retirement benefits — (95 ) 222 — 127 Share-based payments — 671 19 — 690 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (183 ) (203 ) — (386 ) Net charge for provisions, less payments 33 — 953 — 986 (Increase) decrease in inventories (62 ) — 734 — 672 (Increase) decrease in other current and non-current assets (72 ) 165 (951 ) (2,000 ) (2,858 ) Increase (decrease) in other current and non-current liabilities (491 ) 4,509 (6,595 ) — (2,577 ) Income taxes paid (133 ) — (5,579 ) — (5,712 ) Net cash provided by operating activities 798 7,057 20,508 (5,490 ) 22,873 Investing activities Expenditure on property, plant and equipment, intangible and other assets (273 ) — (16,434 ) — (16,707 ) Acquisitions, net of cash acquired — — (6,986 ) — (6,986 ) Investment in joint ventures — — (382 ) — (382 ) Investment in associates — — (1,013 ) — (1,013 ) Total cash capital expenditure (273 ) — (24,815 ) — (25,088 ) Proceeds from disposals of fixed assets — — 940 — 940 Proceeds from disposals of businesses, net of cash disposed 1,475 — 436 — 1,911 Proceeds from loan repayments — — 666 — 666 Net cash provided by (used in) investing activities 1,202 — (22,773 ) — (21,571 ) Financing activities Repurchase of shares — (355 ) — — (355 ) Lease liability payments — — (35 ) — (35 ) Proceeds from long-term financing — — 9,038 — 9,038 Repayments of long-term financing — — (7,175 ) — (7,175 ) Net increase (decrease) in short-term debt — — 1,317 — 1,317 Dividends paid BP shareholders (2,000 ) (6,699 ) (3,490 ) 5,490 (6,699 ) Non-controlling interests — — (170 ) — (170 ) Net cash provided by (used in) financing activities (2,000 ) (7,054 ) (515 ) 5,490 (4,079 ) Currency translation differences relating to cash and cash equivalents — — (330 ) — (330 ) Increase (decrease) in cash and cash equivalents — 3 (3,110 ) — (3,107 ) Cash and cash equivalents at beginning of year — 10 25,565 — 25,575 Cash and cash equivalents at end of year — 13 22,455 — 22,468 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 438 3,387 7,800 (4,445 ) 7,180 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 1,603 — 1,603 Depreciation, depletion and amortization 735 — 14,849 — 15,584 Impairment and (gain) loss on sale of businesses and fixed assets (71 ) (9 ) 77 9 6 Earnings from joint ventures and associates — — (2,507 ) — (2,507 ) Dividends received from joint ventures and associates — — 1,253 — 1,253 Equity accounted income of subsidiaries - after interest and tax — (4,436 ) — 4,436 — Dividends received from (paid to) subsidiaries — 3,183 — (3,183 ) — Interest receivable (11 ) (220 ) (1,117 ) 1,044 (304 ) Interest received 11 220 1,188 (1,044 ) 375 Finance costs 6 826 2,286 (1,044 ) 2,074 Interest paid (6 ) (826 ) (1,784 ) 1,044 (1,572 ) Net finance expense relating to pensions and other post-retirement benefits — (15 ) 235 — 220 Share-based payments — 595 66 — 661 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (145 ) (249 ) — (394 ) Net charge for provisions, less payments (128 ) — 2,234 — 2,106 (Increase) decrease in inventories (25 ) — (823 ) — (848 ) (Increase) decrease in other current and non-current assets 108 522 (5,478 ) — (4,848 ) Increase (decrease) in other current and non-current liabilities (830 ) 3,374 (200 ) — 2,344 Income taxes paid — — (4,002 ) — (4,002 ) Net cash provided by operating activities 227 6,456 15,431 (3,183 ) 18,931 Investing activities Expenditure on property, plant and equipment, intangible and other assets (321 ) — (16,241 ) — (16,562 ) Acquisitions, net of cash acquired — — (327 ) — (327 ) Investment in joint ventures — — (50 ) — (50 ) Investment in associates — — (901 ) — (901 ) Total cash capital expenditure (321 ) — (17,519 ) — (17,840 ) Proceeds from disposals of fixed assets 94 — 2,842 — 2,936 Proceeds from disposals of businesses, net of cash disposed — — 478 — 478 Proceeds from loan repayments — — 349 — 349 Net cash provided by (used in) investing activities (227 ) — (13,850 ) — (14,077 ) Financing activities Net issue (repurchase) of shares — (343 ) — — (343 ) Lease liability payments — — (45 ) — (45 ) Proceeds from long-term financing — — 8,712 — 8,712 Repayments of long-term financing — — (6,231 ) — (6,231 ) Net increase (decrease) in short-term debt — — (158 ) — (158 ) Net increase (decrease) in non-controlling interests — — 1,063 — 1,063 Dividends paid BP shareholders — (6,153 ) (3,183 ) 3,183 (6,153 ) Non-controlling interests — — (141 ) — (141 ) Net cash provided by (used in) financing activities — (6,496 ) 17 3,183 (3,296 ) Currency translation differences relating to cash and cash equivalents — — 544 — 544 Increase (decrease) in cash and cash equivalents — (40 ) 2,142 — 2,102 Cash and cash equivalents at beginning of year — 50 23,434 — 23,484 Cash and cash equivalents at end of year — 10 25,576 — 25,586
Disclosure of Condensed Income Statement	Income statement $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 4,413 — 278,111 (4,127 ) 278,397 Earnings from joint ventures - after interest and tax — — 576 — 576 Earnings from associates - after interest and tax — — 2,681 — 2,681 Equity-accounted income of subsidiaries - after interest and tax — 5,916 — (5,916 ) — Interest and other income 42 385 2,284 (1,942 ) 769 Gains on sale of businesses and fixed assets 4 — 189 — 193 Total revenues and other income 4,459 6,301 283,841 (11,985 ) 282,616 Purchases 2,361 — 211,438 (4,127 ) 209,672 Production and manufacturing expenses 907 — 20,908 — 21,815 Production and similar taxes 163 — 1,384 — 1,547 Depreciation, depletion and amortization 169 — 17,611 — 17,780 Impairment and losses on sale of businesses and fixed assets 747 — 7,328 — 8,075 Exploration expense — — 964 — 964 Distribution and administration expenses 75 803 10,333 (154 ) 11,057 Profit (loss) before interest and taxation 37 5,498 13,875 (7,704 ) 11,706 Finance costs 17 1,569 3,691 (1,788 ) 3,489 Net finance (income) expense relating to pensions and other post-retirement benefits — (153 ) 216 — 63 Profit (loss) before taxation 20 4,082 9,968 (5,916 ) 8,154 Taxation (40 ) 56 3,948 — 3,964 Profit (loss) for the year 60 4,026 6,020 (5,916 ) 4,190 Attributable to BP shareholders 60 4,026 5,856 (5,916 ) 4,026 Non-controlling interests — — 164 — 164 60 4,026 6,020 (5,916 ) 4,190 38 . Condensed consolidating information on certain US subsidiaries – continued Income statement continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 4,315 — 298,620 (4,179 ) 298,756 Earnings from joint ventures - after interest and tax — — 897 — 897 Earnings from associates - after interest and tax — — 2,856 — 2,856 Equity-accounted income of subsidiaries - after interest and tax — 10,942 — (10,942 ) — Interest and other income 42 373 2,081 (1,723 ) 773 Gains on sale of businesses and fixed assets — — 456 — 456 Total revenues and other income 4,357 11,315 304,910 (16,844 ) 303,738 Purchases 1,507 — 232,550 (4,179 ) 229,878 Production and manufacturing expenses 1,015 — 21,990 — 23,005 Production and similar taxes 282 — 1,254 — 1,536 Depreciation, depletion and amortization 377 — 15,080 — 15,457 Impairment and losses on sale of businesses and fixed assets 66 — 794 — 860 Exploration expense — — 1,445 — 1,445 Distribution and administration expenses 22 642 11,673 (158 ) 12,179 Profit (loss) before interest and taxation 1,088 10,673 20,124 (12,507 ) 19,378 Finance costs 8 1,326 2,759 (1,565 ) 2,528 Net finance (income) expense relating to pensions and other post-retirement benefits — (95 ) 222 — 127 Profit (loss) before taxation 1,080 9,442 17,143 (10,942 ) 16,723 Taxation 164 59 6,922 — 7,145 Profit (loss) for the year 916 9,383 10,221 (10,942 ) 9,578 Attributable to BP shareholders 916 9,383 10,026 (10,942 ) 9,383 Non-controlling interests — — 195 — 195 916 9,383 10,221 (10,942 ) 9,578 Income statement continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Sales and other operating revenues 3,264 — 240,177 (3,233 ) 240,208 Earnings from joint ventures - after interest and tax — — 1,177 — 1,177 Earnings from associates - after interest and tax — — 1,330 — 1,330 Equity-accounted income of subsidiaries - after interest and tax — 4,436 — (4,436 ) — Interest and other income 11 369 1,470 (1,193 ) 657 Gains on sale of businesses and fixed assets 71 9 1,139 (9 ) 1,210 Total revenues and other income 3,346 4,814 245,293 (8,871 ) 244,582 Purchases 1,010 — 181,939 (3,233 ) 179,716 Production and manufacturing expenses 1,156 — 23,073 — 24,229 Production and similar taxes a (18 ) — 1,793 — 1,775 Depreciation, depletion and amortization 735 — 14,849 — 15,584 Impairment and losses on sale of businesses and fixed assets — — 1,216 — 1,216 Exploration expense — — 2,080 — 2,080 Distribution and administration expenses 19 616 10,022 (149 ) 10,508 Profit (loss) before interest and taxation 444 4,198 10,321 (5,489 ) 9,474 Finance costs 6 826 2,286 (1,044 ) 2,074 Net finance (income) expense relating to pensions and other post-retirement benefits — (15 ) 235 — 220 Profit (loss) before taxation 438 3,387 7,800 (4,445 ) 7,180 Taxation (392 ) (11 ) 4,115 — 3,712 Profit (loss) for the year 830 3,398 3,685 (4,445 ) 3,468 Attributable to BP shareholders 830 3,398 3,606 (4,445 ) 3,389 Non-controlling interests — — 79 — 79 830 3,398 3,685 (4,445 ) 3,468 a Includes revised non-cash provision adjustments; actual cash payments for Production and similar taxes remain in line with prior year.
Disclosure of Condensed Statement of Comprehensive Income	Statement of comprehensive income $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 60 4,026 6,020 (5,916 ) 4,190 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — 200 1,338 — 1,538 Exchange (gains) or losses on translation of foreign operations transferred to gain or loss on sale of businesses and fixed assets — — 880 — 880 Cash flow hedges marked to market — — (100 ) — (100 ) Cash flow hedges - recycled to the income statement — — 106 — 106 Costs of hedging market to market — — (4 ) — (4 ) Costs of hedging reclassified to the income statement — — 57 — 57 Share of items relating to equity-accounted entities, net of tax — — 82 — 82 Income tax relating to items that may be reclassified — — (70 ) — (70 ) — 200 2,289 — 2,489 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 732 (404 ) — 328 Cash flow hedges that will subsequently be transferred to the balance sheet — — (3 ) — (3 ) Income tax relating to items that will not be reclassified — (331 ) 174 — (157 ) — 401 (233 ) — 168 Other comprehensive income — 601 2,056 — 2,657 Equity-accounted other comprehensive income of subsidiaries — 2,047 — (2,047 ) — Total comprehensive income 60 6,674 8,076 (7,963 ) 6,847 Attributable to BP shareholders 60 6,674 7,903 (7,963 ) 6,674 Non-controlling interests — — 173 — 173 60 6,674 8,076 (7,963 ) 6,847 Statement of comprehensive income continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 916 9,383 10,221 (10,942 ) 9,578 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — (296 ) (3,475 ) — (3,771 ) Cash flow hedges (including reclassifications) — — (6 ) — (6 ) Costs of hedging (including reclassifications) — — (186 ) — (186 ) Share of items relating to equity-accounted entities, net of tax — — 417 — 417 Income tax relating to items that may be reclassified — — 4 — 4 — (296 ) (3,246 ) — (3,542 ) Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 1,689 628 — 2,317 Cash flow hedges that will subsequently be transferred to the balance sheet — — (37 ) — (37 ) Income tax relating to items that will not be reclassified — (511 ) (207 ) — (718 ) — 1,178 384 — 1,562 Other comprehensive income — 882 (2,862 ) — (1,980 ) Equity-accounted other comprehensive income of subsidiaries — (2,821 ) — 2,821 — Total comprehensive income 916 7,444 7,359 (8,121 ) 7,598 Attributable to BP shareholders 916 7,444 7,205 (8,121 ) 7,444 Non-controlling interests — — 154 — 154 916 7,444 7,359 (8,121 ) 7,598 38 . Condensed consolidating information on certain US subsidiaries – continued Statement of comprehensive income continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Profit (loss) for the year 830 3,398 3,685 (4,445 ) 3,468 Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences — 166 1,820 — 1,986 Exchange (gains) losses on translation of foreign operations transferred to gain or loss on sale of businesses and fixed assets — — (120 ) — (120 ) Available-for-sale investments marked to market — — 14 — 14 Cash flow hedges marked to market — — 197 — 197 Cash flow hedges reclassified to the income statement — — 116 — 116 Cash flow hedges reclassified to the balance sheet — — 112 — 112 Share of items relating to equity-accounted entities, net of tax — — 564 — 564 Income tax relating to items that may be reclassified — — (196 ) — (196 ) — 166 2,507 — 2,673 Items that will not be reclassified to profit or loss Remeasurements of the net pension and other post-retirement benefit liability or asset — 2,984 662 — 3,646 Income tax relating to items that will not be reclassified — (1,169 ) (134 ) — (1,303 ) — 1,815 528 — 2,343 Other comprehensive income — 1,981 3,035 — 5,016 Equity-accounted other comprehensive income of subsidiaries — 2,983 — (2,983 ) — Total comprehensive income 830 8,362 6,720 (7,428 ) 8,484 Attributable to BP shareholders 830 8,362 6,589 (7,428 ) 8,353 Non-controlling interests — — 131 — 131 830 8,362 6,720 (7,428 ) 8,484
Disclosure of Condensed Balance Sheet	alance sheet $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Non-current assets Property, plant and equipment — — 132,642 — 132,642 Goodwill — — 11,868 — 11,868 Intangible assets — — 15,539 — 15,539 Investments in joint ventures — — 9,991 — 9,991 Investments in associates — 2 20,332 — 20,334 Other investments — — 1,276 — 1,276 Subsidiaries - equity-accounted basis — 167,895 — (167,895 ) — Fixed assets — 167,897 191,648 (167,895 ) 191,650 Loans — — 32,524 (31,894 ) 630 Trade and other receivables — 2,771 2,147 (2,771 ) 2,147 Derivative financial instruments — — 6,314 — 6,314 Prepayments — — 781 — 781 Deferred tax assets — — 4,560 — 4,560 Defined benefit pension plan surpluses — 6,588 465 — 7,053 — 177,256 238,439 (202,560 ) 213,135 Current assets Loans — — 339 — 339 Inventories 44 — 20,836 — 20,880 Trade and other receivables 690 135 42,157 (18,540 ) 24,442 Derivative financial instruments — — 4,153 — 4,153 Prepayments — — 857 — 857 Current tax receivable 45 — 1,237 — 1,282 Other investments — — 169 — 169 Cash and cash equivalents — — 22,472 — 22,472 779 135 92,220 (18,540 ) 74,594 Assets classified as held for sale 5,023 — 2,442 — 7,465 5,802 135 94,662 (18,540 ) 82,059 Total assets 5,802 177,391 333,101 (221,100 ) 295,194 Current liabilities Trade and other payables 436 17,986 46,947 (18,540 ) 46,829 Derivative financial instruments — — 3,261 — 3,261 Accruals 347 21 4,698 — 5,066 Lease liabilities — — 2,067 — 2,067 Finance debt — — 10,487 — 10,487 Current tax payable — — 2,039 — 2,039 Provisions — — 2,453 — 2,453 783 18,007 71,952 (18,540 ) 72,202 Liabilities directly associated with assets classified as held for sale 706 — 687 — 1,393 1,489 18,007 72,639 (18,540 ) 73,595 Non-current liabilities Other payables — 31,927 15,364 (34,665 ) 12,626 Derivative financial instruments — — 5,537 — 5,537 Accruals — — 996 — 996 Lease liabilities — — 7,655 — 7,655 Finance debt — — 57,237 — 57,237 Deferred tax liabilities 456 2,293 7,001 — 9,750 Provisions 114 — 18,384 — 18,498 Defined benefit pension plan and other post-retirement benefit plan deficits — 202 8,390 — 8,592 570 34,422 120,564 (34,665 ) 120,891 Total liabilities 2,059 52,429 193,203 (53,205 ) 194,486 Net assets 3,743 124,962 139,898 (167,895 ) 100,708 Equity BP shareholders’ equity 3,743 124,962 137,602 (167,895 ) 98,412 Non-controlling interests — — 2,296 — 2,296 3,743 124,962 139,898 (167,895 ) 100,708 38 . Condensed consolidating information on certain US subsidiaries – continued Balance sheet continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Non-current assets Property, plant and equipment 4,445 — 130,816 — 135,261 Goodwill — — 12,204 — 12,204 Intangible assets 598 — 16,686 — 17,284 Investments in joint ventures — — 8,647 — 8,647 Investments in associates — 2 17,671 — 17,673 Other investments — — 1,341 — 1,341 Subsidiaries - equity-accounted basis — 166,311 — (166,311 ) — Fixed assets 5,043 166,313 187,365 (166,311 ) 192,410 Loans — — 32,402 (31,765 ) 637 Trade and other receivables — 2,600 1,834 (2,600 ) 1,834 Derivative financial instruments — — 5,145 — 5,145 Prepayments — — 1,179 — 1,179 Deferred tax assets — — 3,706 — 3,706 Defined benefit pension plan surpluses — 5,473 482 — 5,955 5,043 174,386 232,113 (200,676 ) 210,866 Current assets Loans — — 326 — 326 Inventories 302 — 17,686 — 17,988 Trade and other receivables 2,536 151 38,931 (17,140 ) 24,478 Derivative financial instruments — — 3,846 — 3,846 Prepayments 7 — 956 — 963 Current tax receivable — — 1,019 — 1,019 Other investments — — 222 — 222 Cash and cash equivalents — 13 22,455 — 22,468 2,845 164 85,441 (17,140 ) 71,310 Total assets 7,888 174,550 317,554 (217,816 ) 282,176 Current liabilities Trade and other payables 413 14,634 48,358 (17,140 ) 46,265 Derivative financial instruments — — 3,308 — 3,308 Accruals 89 31 4,506 — 4,626 Lease liabilities — — 44 — 44 Finance debt — — 9,329 — 9,329 Current tax payable 310 — 1,791 — 2,101 Provisions 1 — 2,563 — 2,564 813 14,665 69,899 (17,140 ) 68,237 Non-current liabilities Other payables — 31,800 16,395 (34,365 ) 13,830 Derivative financial instruments — — 5,625 — 5,625 Accruals — — 575 — 575 Lease liabilities — — 623 — 623 Finance debt — — 55,803 — 55,803 Deferred tax liabilities 586 1,907 7,319 — 9,812 Provisions 670 — 17,062 — 17,732 Defined benefit pension plan and other post-retirement benefit plan deficits — 184 8,207 — 8,391 1,256 33,891 111,609 (34,365 ) 112,391 Total liabilities 2,069 48,556 181,508 (51,505 ) 180,628 Net assets 5,819 125,994 136,046 (166,311 ) 101,548 Equity BP shareholders’ equity 5,819 125,994 133,942 (166,311 ) 99,444 Non-controlling interests — — 2,104 — 2,104 5,819 125,994 136,046 (166,311 ) 101,548
Disclosure of Condensed Cash Flow Statement	ash flow statement $ million 2019 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 20 4,082 9,968 (5,916 ) 8,154 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 631 — 631 Depreciation, depletion and amortization 169 — 17,611 — 17,780 Impairment and (gain) loss on sale of businesses and fixed assets 743 — 7,139 — 7,882 Earnings from joint ventures and associates — — (3,257 ) — (3,257 ) Dividends received from joint ventures and associates — — 1,962 — 1,962 Equity accounted income of subsidiaries - after interest and tax — (5,916 ) — 5,916 — Dividends received from subsidiaries — 6,360 — (6,360 ) — Interest receivable (1 ) — (2,228 ) 1,788 (441 ) Interest received 1 12 2,191 (1,788 ) 416 Finance costs 17 — 5,260 (1,788 ) 3,489 Interest paid (6 ) — (4,652 ) 1,788 (2,870 ) Net finance expense relating to pensions and other post-retirement benefits — (153 ) 216 — 63 Share-based payments — 739 (9 ) — 730 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (10 ) (228 ) — (238 ) Net charge for provisions, less payments 21 — (197 ) — (176 ) (Increase) decrease in inventories (31 ) — (3,375 ) — (3,406 ) (Increase) decrease in other current and non-current assets (132 ) (155 ) (2,048 ) — (2,335 ) Increase (decrease) in other current and non-current liabilities 1,954 3,469 (2,600 ) — 2,823 Income taxes paid (444 ) (1 ) (4,992 ) — (5,437 ) Net cash provided by (used in) operating activities 2,311 8,427 21,392 (6,360 ) 25,770 Investing activities Expenditure on property, plant and equipment, intangible and other assets (173 ) — (15,245 ) — (15,418 ) Acquisitions, net of cash acquired — — (3,562 ) — (3,562 ) Investment in joint ventures — — (137 ) — (137 ) Investment in associates — — (304 ) — (304 ) Total cash capital expenditure (173 ) — (19,248 ) — (19,421 ) Proceeds from disposals of fixed assets 19 — 481 — 500 Proceeds from disposals of businesses, net of cash disposed — — 1,701 — 1,701 Proceeds from loan repayments 21 — 225 — 246 Net cash provided by (used in) investing activities (133 ) — (16,841 ) — (16,974 ) Financing activities Repurchase of shares — (1,511 ) — — (1,511 ) Lease liability payments (46 ) — (2,326 ) — (2,372 ) Proceeds from long-term financing — — 8,597 — 8,597 Repayments of long-term financing — — (7,118 ) — (7,118 ) Net increase (decrease) in short-term debt — — 180 — 180 Net increase (decrease) in non-controlling interests — — 566 — 566 Dividends paid BP shareholders (2,132 ) (6,929 ) (4,245 ) 6,360 (6,946 ) Non-controlling interests — — (213 ) — (213 ) Net cash provided by (used in) financing activities (2,178 ) (8,440 ) (4,559 ) 6,360 (8,817 ) Currency translation differences relating to cash and cash equivalents — — 25 — 25 Increase (decrease) in cash and cash equivalents — (13 ) 17 — 4 Cash and cash equivalents at beginning of year — 13 22,455 — 22,468 Cash and cash equivalents at end of year — — 22,472 — 22,472 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement continued $ million 2018 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 1,080 9,442 17,143 (10,942 ) 16,723 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 1,085 — 1,085 Depreciation, depletion and amortization 377 — 15,080 — 15,457 Impairment and (gain) loss on sale of businesses and fixed assets 66 — 338 — 404 Earnings from joint ventures and associates — — (3,753 ) — (3,753 ) Dividends received from joint ventures and associates — — 1,535 — 1,535 Equity accounted income of subsidiaries - after interest and tax — (10,942 ) — 10,942 — Dividends received from subsidiaries — 3,490 — (3,490 ) — Interest receivable (42 ) (215 ) (1,776 ) 1,565 (468 ) Interest received 42 215 1,656 (1,565 ) 348 Finance costs 8 1,326 2,759 (1,565 ) 2,528 Interest paid (8 ) (1,326 ) (2,159 ) 1,565 (1,928 ) Net finance expense relating to pensions and other post-retirement benefits — (95 ) 222 — 127 Share-based payments — 671 19 — 690 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (183 ) (203 ) — (386 ) Net charge for provisions, less payments 33 — 953 — 986 (Increase) decrease in inventories (62 ) — 734 — 672 (Increase) decrease in other current and non-current assets (72 ) 165 (951 ) (2,000 ) (2,858 ) Increase (decrease) in other current and non-current liabilities (491 ) 4,509 (6,595 ) — (2,577 ) Income taxes paid (133 ) — (5,579 ) — (5,712 ) Net cash provided by operating activities 798 7,057 20,508 (5,490 ) 22,873 Investing activities Expenditure on property, plant and equipment, intangible and other assets (273 ) — (16,434 ) — (16,707 ) Acquisitions, net of cash acquired — — (6,986 ) — (6,986 ) Investment in joint ventures — — (382 ) — (382 ) Investment in associates — — (1,013 ) — (1,013 ) Total cash capital expenditure (273 ) — (24,815 ) — (25,088 ) Proceeds from disposals of fixed assets — — 940 — 940 Proceeds from disposals of businesses, net of cash disposed 1,475 — 436 — 1,911 Proceeds from loan repayments — — 666 — 666 Net cash provided by (used in) investing activities 1,202 — (22,773 ) — (21,571 ) Financing activities Repurchase of shares — (355 ) — — (355 ) Lease liability payments — — (35 ) — (35 ) Proceeds from long-term financing — — 9,038 — 9,038 Repayments of long-term financing — — (7,175 ) — (7,175 ) Net increase (decrease) in short-term debt — — 1,317 — 1,317 Dividends paid BP shareholders (2,000 ) (6,699 ) (3,490 ) 5,490 (6,699 ) Non-controlling interests — — (170 ) — (170 ) Net cash provided by (used in) financing activities (2,000 ) (7,054 ) (515 ) 5,490 (4,079 ) Currency translation differences relating to cash and cash equivalents — — (330 ) — (330 ) Increase (decrease) in cash and cash equivalents — 3 (3,110 ) — (3,107 ) Cash and cash equivalents at beginning of year — 10 25,565 — 25,575 Cash and cash equivalents at end of year — 13 22,455 — 22,468 38 . Condensed consolidating information on certain US subsidiaries – continued Cash flow statement continued $ million 2017 Issuer Guarantor BP Exploration (Alaska) Inc. BP p.l.c. Other subsidiaries Eliminations and reclassifications BP group Operating activities Profit (loss) before taxation 438 3,387 7,800 (4,445 ) 7,180 Adjustments to reconcile profit (loss) before taxation to net cash provided by operating activities Exploration expenditure written off — — 1,603 — 1,603 Depreciation, depletion and amortization 735 — 14,849 — 15,584 Impairment and (gain) loss on sale of businesses and fixed assets (71 ) (9 ) 77 9 6 Earnings from joint ventures and associates — — (2,507 ) — (2,507 ) Dividends received from joint ventures and associates — — 1,253 — 1,253 Equity accounted income of subsidiaries - after interest and tax — (4,436 ) — 4,436 — Dividends received from (paid to) subsidiaries — 3,183 — (3,183 ) — Interest receivable (11 ) (220 ) (1,117 ) 1,044 (304 ) Interest received 11 220 1,188 (1,044 ) 375 Finance costs 6 826 2,286 (1,044 ) 2,074 Interest paid (6 ) (826 ) (1,784 ) 1,044 (1,572 ) Net finance expense relating to pensions and other post-retirement benefits — (15 ) 235 — 220 Share-based payments — 595 66 — 661 Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans — (145 ) (249 ) — (394 ) Net charge for provisions, less payments (128 ) — 2,234 — 2,106 (Increase) decrease in inventories (25 ) — (823 ) — (848 ) (Increase) decrease in other current and non-current assets 108 522 (5,478 ) — (4,848 ) Increase (decrease) in other current and non-current liabilities (830 ) 3,374 (200 ) — 2,344 Income taxes paid — — (4,002 ) — (4,002 ) Net cash provided by operating activities 227 6,456 15,431 (3,183 ) 18,931 Investing activities Expenditure on property, plant and equipment, intangible and other assets (321 ) — (16,241 ) — (16,562 ) Acquisitions, net of cash acquired — — (327 ) — (327 ) Investment in joint ventures — — (50 ) — (50 ) Investment in associates — — (901 ) — (901 ) Total cash capital expenditure (321 ) — (17,519 ) — (17,840 ) Proceeds from disposals of fixed assets 94 — 2,842 — 2,936 Proceeds from disposals of businesses, net of cash disposed — — 478 — 478 Proceeds from loan repayments — — 349 — 349 Net cash provided by (used in) investing activities (227 ) — (13,850 ) — (14,077 ) Financing activities Net issue (repurchase) of shares — (343 ) — — (343 ) Lease liability payments — — (45 ) — (45 ) Proceeds from long-term financing — — 8,712 — 8,712 Repayments of long-term financing — — (6,231 ) — (6,231 ) Net increase (decrease) in short-term debt — — (158 ) — (158 ) Net increase (decrease) in non-controlling interests — — 1,063 — 1,063 Dividends paid BP shareholders — (6,153 ) (3,183 ) 3,183 (6,153 ) Non-controlling interests — — (141 ) — (141 ) Net cash provided by (used in) financing activities — (6,496 ) 17 3,183 (3,296 ) Currency translation differences relating to cash and cash equivalents — — 544 — 544 Increase (decrease) in cash and cash equivalents — (40 ) 2,142 — 2,102 Cash and cash equivalents at beginning of year — 50 23,434 — 23,484 Cash and cash equivalents at end of year — 10 25,576 — 25,586

Significant accounting polici_4

Significant accounting policies, judgements, estimates and assumptions - Significant judgement: accounting for interests in other entities (Details) - Rosneft	12 Months Ended
	Dec. 31, 2019shares
Disclosure of associates [line items]
Voting shares held in associate	19.75%
JSC Rosneftegaz
Disclosure of associates [line items]
Voting shares held in associate	50.00%
Number of shares owned in addition to proportion of voting shares owned (in shares)	1

Significant accounting polici_5

Significant accounting policies, judgements, estimates and assumptions - Intangible assets (Details)	12 Months Ended
	Dec. 31, 2019
Minimum | Patents, Licences, And Trademarks
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill, estimated useful lives	3 years
Minimum | Computer software
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill, estimated useful lives	3 years
Maximum | Patents, Licences, And Trademarks
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill, estimated useful lives	15 years
Maximum | Computer software
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill, estimated useful lives	5 years

Significant accounting polici_6

Significant accounting policies, judgements, estimates and assumptions - Summary of useful lives of property, plant and equipment (Details)	12 Months Ended
	Dec. 31, 2019
Land improvements | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	15 years
Land improvements | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	25 years
Buildings | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	20 years
Buildings | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	50 years
Refineries | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	20 years
Refineries | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	30 years
Petrochemicals plants | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	20 years
Petrochemicals plants | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	30 years
Pipelines | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	10 years
Pipelines | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	50 years
Service stations
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	15 years
Office equipment | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	3 years
Office equipment | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	7 years
Fixtures and fittings | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	5 years
Fixtures and fittings | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives of property, plant and equipment	15 years

Significant accounting polici_7

Significant accounting policies, judgements, estimates and assumptions - Impairment of property, plant and equipment, intangible assets, and goodwill (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)usd_per_bbl	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)usd_per_mmBtu	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)usd_per_bbl		Dec. 31, 2018USD ($)usd_per_mmBtu		Jan. 01, 2019USD ($)
Disclosure of impairment loss and reversal of impairment loss [line items]
Discount rate used to determine recoverable costs, fair value less costs of disposal	6.00%	6.00%	6.00%	6.00%	6.00%		6.00%
Discount rate used in current estimate of value in use					9.00%		9.00%
Premium added to discount rate					2.00%		2.00%
Long-term price assumptions used in current measurement of fair value less costs of disposal	70		4		75		4
Long-term average price assumption used to estimate cash flows	67		3.1
Carrying amount of oil and gas properties	$ 132,642	$ 132,642	$ 132,642	$ 132,642	$ 135,261	[1]	$ 135,261	[1]	$ 143,950
Goodwill	$ 11,868	$ 11,868	$ 11,868	$ 11,868	12,204	[1]	12,204	[1]
Minimum
Disclosure of impairment loss and reversal of impairment loss [line items]
Discount rate used in current estimate of value in use	7.00%	7.00%	7.00%	7.00%
Premium added to discount rate	1.00%	1.00%	1.00%	1.00%
Maximum
Disclosure of impairment loss and reversal of impairment loss [line items]
Discount rate used in current estimate of value in use	13.00%	13.00%	13.00%	13.00%
Premium added to discount rate	4.00%	4.00%	4.00%	4.00%
Oil and gas properties with headroom equal to or less than 20% of carrying value
Disclosure of impairment loss and reversal of impairment loss [line items]
Carrying amount of oil and gas properties	$ 25,092	$ 25,092	$ 25,092	$ 25,092	22,000		22,000
Oil and gas properties
Disclosure of impairment loss and reversal of impairment loss [line items]
Carrying amount of oil and gas properties	89,714	$ 89,714	89,714	89,714	99,010		99,010
Percentage of headroom (less than or equal to)		20.00%
Equity-accounted entities | Oil and gas properties with headroom equal to or less than 20% of carrying value
Disclosure of impairment loss and reversal of impairment loss [line items]
Carrying amount of oil and gas properties	$ 1,256	$ 1,256	$ 1,256	1,256	$ 1,345		$ 1,345
Fifteen Percentage Point Decrease | Oil and gas properties | Minimum
Disclosure of impairment loss and reversal of impairment loss [line items]
Effect of decrease in long-term average price assumption used to estimate cash flows				2,000
Effect of decrease in long-term average price assumption used to estimate cash flows (as a percent of net book value of property, plant and equipment)		1.00%
Fifteen Percentage Point Decrease | Oil and gas properties | Maximum
Disclosure of impairment loss and reversal of impairment loss [line items]
Effect of decrease in long-term average price assumption used to estimate cash flows				3,000
Effect of decrease in long-term average price assumption used to estimate cash flows (as a percent of net book value of property, plant and equipment)		2.00%
Fifteen Percentage Point Decrease Increasing to Twenty Five Percentage Points By 2040 | Oil and gas properties | Minimum
Disclosure of impairment loss and reversal of impairment loss [line items]
Effect of decrease in long-term average price assumption used to estimate cash flows				4,000
Effect of decrease in long-term average price assumption used to estimate cash flows (as a percent of net book value of property, plant and equipment)		3.00%
Fifteen Percentage Point Decrease Increasing to Twenty Five Percentage Points By 2040 | Oil and gas properties | Maximum
Disclosure of impairment loss and reversal of impairment loss [line items]
Effect of decrease in long-term average price assumption used to estimate cash flows				$ 5,000
Effect of decrease in long-term average price assumption used to estimate cash flows (as a percent of net book value of property, plant and equipment)		4.00%
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Significant accounting polici_8

Significant accounting policies, judgements, estimates and assumptions - Provisions and contingencies, decommissioning, environmental expenditures and liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of other provisions [line items]
Nominal discount rate	2.50%	3.00%
Liabilities for decommissioning costs, weighted average recognition period	18 years	18 years
Environmental expenditures and liabilities, weighted average recognition period	6 years	6 years
Provisions, discounted cash flow, nominal interest rate	2.50%	3.00%
Change In nominal interest rate	0.50%
Reduction to provision through change in discount rate	$ (1,442)
Increase (decrease) in depreciation, depletion, and amortization due to change in decommissioning provision	17,780	$ 15,457	$ 15,584
Increase (decrease) in finance costs due to change in decommissioning provision	3,489	2,528	$ 2,074
Provision for decommissioning
Disclosure of other provisions [line items]
Reduction to provision through change in discount rate	$ 1,400	$ 1,300

Significant accounting polici_9

Significant accounting policies, judgements, estimates and assumptions - Summary of operating leases (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Disclosure of voluntary change in accounting policy [line items]
Effect of discounting	$ (1,577)		$ (683)
Finance lease obligations at 31 December 2018			667
IFRS 16 Leases [Member]
Disclosure of voluntary change in accounting policy [line items]
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16	3.50%
Adjustment on adoption of IFRS 16 [Member]
Disclosure of voluntary change in accounting policy [line items]
Leases not yet commenced			(1,372)
Leases below materiality threshold			(86)
Short-term leases			(91)
Effect of discounting			(1,512)
Impact on leases in joint operations			836
Variable lease payments			(58)
Redetermination of lease term			(252)
Other			(22)
Adjustment for finance leases in joint operations		$ (189)	$ (189)

Significant accounting polic_10

Significant accounting policies, judgements, estimates and assumptions - Effect of IFRS 16 on group balance sheet (Details) - USD ($) $ in Millions		Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Non-current assets
Property, plant and equipment		$ 132,642	$ 143,950	$ 135,261	[1]
Trade and other receivables		2,147	2,159	1,834	[1]
Prepayments		781	849	1,179	[1]
Deferred tax assets		4,560	3,736	3,706	[1]
Current assets
Trade and other receivables		24,442	24,673	24,478	[1]
Prepayments		857	872	963	[1]
Current liabilities
Trade and other payables		46,829	46,209	46,265	[1]
Accruals		5,066	4,578	4,626	[1]
Current lease liabilities		2,067	2,196	44	[1]
Finance debta		10,487	9,329	9,329
Provisions		2,453	2,547	2,564	[1]
Non-current liabilities
Other payables		12,626	14,013	13,830	[1]
Accruals		996	548	575	[1]
Non-current lease liabilities		7,655	7,704	623	[1]
Finance debta		57,237	55,803	55,803	[1]
Deferred tax liabilities		9,750	9,767	9,812	[1]
Provisions		18,498	17,657	17,732	[1]
Net assets		100,708	101,218	101,548	[1]
Equity
BP shareholders’ equity		98,412	99,115	99,444	[1]
Non-controlling interests		2,296	2,103	2,104	[1]
Equity	[2]	$ 100,708	101,218	$ 101,548	[1]	$ 100,224	$ 100,404	$ 96,843
Adjustment on adoption of IFRS 16 | IFRS 16 Leases [Member]
Non-current assets
Property, plant and equipment			8,689
Trade and other receivables			325
Prepayments			(330)
Deferred tax assets			30
Current assets
Trade and other receivables			195
Prepayments			(91)
Current liabilities
Trade and other payables			(56)
Accruals			(48)
Current lease liabilities			2,152
Finance debta			0
Provisions			(17)
Non-current liabilities
Other payables			183
Accruals			(27)
Non-current lease liabilities			7,081
Finance debta			0
Deferred tax liabilities			(45)
Provisions			(75)
Net assets			(330)
Equity
BP shareholders’ equity			(329)
Non-controlling interests			(1)
Equity	[2]		$ (330)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.
[2]	See Note 32 for further information.

Significant accounting polic_11

Significant accounting policies, judgements, estimates and assumptions - Total expected adjustments to the group's lease liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Disclosure of voluntary change in accounting policy [line items]
Current finance debt	$ 2,067	$ 2,196	$ 44	[1]
Non-current finance debt	$ 7,655	7,704	623	[1]
Adjustment on adoption of IFRS | IFRS 16 Leases [Member]
Disclosure of voluntary change in accounting policy [line items]
Current finance debt		2,152
Non-current finance debt		7,081
Adjustment on adoption of IFRS 16 [Member]
Disclosure of voluntary change in accounting policy [line items]
Less: adjustment for finance leases in joint operations		$ 189	$ 189
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Significant accounting polic_12

Significant accounting policies, judgements, estimates and assumptions - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of voluntary change in accounting policy [line items]
Revenues from contracts with customers	$ 276,079	$ 296,255	$ 238,225
Increase (decrease) due to voluntary changes in accounting policy [member]
Disclosure of voluntary change in accounting policy [line items]
Revenues from contracts with customers	$ 130,000

Non-current assets held for s_3

Non-current assets held for sale (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018		Dec. 31, 2017
Assets and liabilities held for sale [Line Items]
Property, plant and equipment	$ 132,642	$ 143,950	$ 135,261	[1]
Intangible assets	15,539		17,284	[1]	$ 18,355
Investments in associates	20,334		17,673	[1]
Inventories	20,880		17,988	[1]
Trade and other receivables	24,442	24,673	24,478	[1]
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners	7,465		0
Trade and other current payables	(46,829)	(46,209)	(46,265)	[1]
Lease liabilities	9,722	9,900	667
Current provisions	(2,453)	$ (2,547)	(2,564)	[1]
Defined benefit pension plan and other post-retirement benefit plan deficits	8,592		8,391	[1]
Liabilities included in disposal groups classified as held for sale	(1,393)		$ 0
Non-current assets held for sale [member]
Assets and liabilities held for sale [Line Items]
Property, plant and equipment	6,359
Intangible assets	610
Investments in associates	43
Inventories	318
Trade and other receivables	135
Trade and other current payables	(33)
Lease liabilities	(280)
Current provisions	(1,012)
Defined benefit pension plan and other post-retirement benefit plan deficits	$ (68)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Non-current assets held for s_4

Non-current assets held for sale - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets and liabilities held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners	$ 7,465	$ 0
Liabilities included in disposal groups classified as held for sale	1,393	0
Contingent consideration receivable relating to disposals	$ 598	$ 893	$ 237
Proportion of reimbursement rights	30.00%
BP Exploration (Alaska)
Assets and liabilities held for sale [Line Items]
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners	$ 6,518
Liabilities included in disposal groups classified as held for sale	969
Sale Of Property, Plant And Equipment, And Losing Control Of Subsidiaries Or Other Businesses, Receivable, Current	5,600
Contingent consideration receivable relating to disposals	$ 1,600
Trans Alaska Pipeline System (TAPS) [Member]
Assets and liabilities held for sale [Line Items]
Proportion of ownership interest in associate	49.00%

Business combinations and oth_3

Business combinations and other significant transactions - Business combinations (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Oct. 31, 2018
Disclosure of detailed information about business combination [line items]
Cash consideration for acquisition			$ (7,100)
Cash acquired in acquisition	$ 114		114
Petrohawk Energy Corporation
Disclosure of detailed information about business combination [line items]
Cash consideration for acquisition		$ (3,480)
Cash acquired in acquisition				$ 104
Percentage of voting equity interests acquired				100.00%
Consideration transferred, acquisition-date fair value				$ 10,302
Revenue of acquiree since acquisition date	472
Profit (loss) of acquiree since acquisition date	$ 49
Revenue of combined entity as if combination occurred at beginning of period			2,798
Profit (loss) of combined entity as if combination occurred at beginning of period			$ 431

Business combinations and oth_4

Business combinations and other significant transactions - Summary of fair values of identifiable assets and liabilities acquired (Details) - USD ($) $ in Millions	Dec. 31, 2018	Oct. 31, 2018
Assets
Cash and cash equivalents recognised as of acquisition date	$ 114
Petrohawk Energy Corporation
Assets
Property, plant and equipment		$ 10,845
Intangible assets		21
Inventories		27
Trade and other receivables		493
Cash and cash equivalents recognised as of acquisition date		104
Liabilities
Trade and other payables		(659)
Provisions		(323)
Non-controlling interest		(206)
Total consideration		$ 10,302

Business combinations and oth_5

Business combinations and other significant transactions - Analysis of cash flows related to acquisition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Total net cash outflow for the acquisition	$ 3,562	$ 6,986	$ 327
Petrohawk Energy Corporation
Disclosure of detailed information about business combination [line items]
Transaction costs of the acquisition (included in cash flows from operating activities)		62
Interest on deferred payments (included in cash flows from operating activities)		21
Cash consideration paid, net of cash acquired (included in cash flows from investing activities)		6,684
Total net cash outflow for the acquisition		$ 6,767

Business combinations and oth_6

Business combinations and other significant transactions - Other significant transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 18, 2018
Disclosure of detailed information about business combination [line items]
Expenditure on property, plant and equipment, intangible and other assets	$ 15,418	$ 16,707	$ 16,562
Proceeds from disposals of businesses, net of cash disposed	$ 1,701	$ 1,911	$ 478
Purchase of interest in the Greater Kuparuk Area | ConocoPhillips
Disclosure of detailed information about business combination [line items]
Percentage of interest in joint operation purchased				39.20%
Purchase of interest in Clair Field
Disclosure of detailed information about business combination [line items]
Percentage of interest in joint operation purchased				16.50%
Percentage of interest in joint operation held		45.10%
Expenditure on property, plant and equipment, intangible and other assets		$ (1,739)
Proceeds from disposals of businesses, net of cash disposed		$ 1,490
Goodwill				$ 804

Disposals and impairment - Sche

Disposals and impairment - Schedule of amounts recognized in the income statement in respect of disposals and impairments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Gains on sale of businesses and fixed assets	$ 193	$ 456	$ 1,210
Losses on sale of businesses and fixed assets	1,359	777	215
Impairment losses	6,847	666	1,239
Impairment reversals	(131)	(583)	(238)
Impairment and losses on sale of businesses and fixed assets	8,075	860	1,216
Upstream
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Gains on sale of businesses and fixed assets	143	437	526
Losses on sale of businesses and fixed assets	415	707	127
Impairment losses	6,752	400	1,138
Impairment reversals	(131)	(580)	(176)
Downstream
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Gains on sale of businesses and fixed assets	50	15	674
Losses on sale of businesses and fixed assets	57	59	88
Impairment losses	65	12	69
Impairment reversals	0	(2)	(62)
Other businesses and corporate
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Gains on sale of businesses and fixed assets	0	4	10
Losses on sale of businesses and fixed assets	887	11	0
Impairment losses	30	254	32
Impairment reversals	$ 0	$ (1)	$ 0

Disposals and impairment - Sc_2

Disposals and impairment - Schedule of proceeds and principal gains and losses on disposals by segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Proceeds from disposals of fixed assets	$ 500	$ 940	$ 2,936
Proceeds from disposals of businesses, net of cash disposed	1,701	1,911	478
Proceeds from disposal of fixed assets and businesses, net of cash disposed	2,201	2,851	3,414
Upstream
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Proceeds from disposal of fixed assets and businesses, net of cash disposed	2,048	2,145	1,183
Downstream
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Proceeds from disposal of fixed assets and businesses, net of cash disposed	152	120	2,078
Other businesses and corporate
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Proceeds from disposal of fixed assets and businesses, net of cash disposed	$ 1	$ 586	$ 153

Disposals and impairment - Narr

Disposals and impairment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of impairment loss and reversal of impairment loss [line items]
Gains on sale of businesses and fixed assets	$ 193	$ 456	$ 1,210
Losses on sale of businesses and fixed assets	1,359	777	215
Deferred consideration relating to the disposals, receivable within one year	159	35	259
Deferred consideration relating to the disposals, receivable after one year	125	304	268
Contingent consideration receivable relating to disposals	598	893	237
Impairment losses	6,847	666	1,239
Reversal of impairment loss	131	583	238
Upstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Gains on sale of businesses and fixed assets	143	437	526
Losses on sale of businesses and fixed assets	415	707	127
Impairment losses	6,752	400	1,138
Impairment loss recognised in profit or loss, goodwill	355
Reversal of impairment loss	131	580	176
Downstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Gains on sale of businesses and fixed assets	50	15	674
Losses on sale of businesses and fixed assets	57	59	88
Impairment losses	65	12	69
Reversal of impairment loss	0	2	62
Other businesses and corporate
Disclosure of impairment loss and reversal of impairment loss [line items]
Gains on sale of businesses and fixed assets	0	4	10
Losses on sale of businesses and fixed assets	887	11	0
Impairment losses	30	254	32
Reversal of impairment loss	0	1	$ 0
BPX Energy [Member] | Upstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	4,703
Magnus Field | Upstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Gains on sale of businesses and fixed assets	68
Losses on sale of businesses and fixed assets		335
Bruce, Keith and Devinick [Member] | Upstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Losses on sale of businesses and fixed assets	193
Greater Kuparuk Area | Upstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Losses on sale of businesses and fixed assets		$ 221
BP Exploration (Alaska) | Upstream
Disclosure of impairment loss and reversal of impairment loss [line items]
Losses on sale of businesses and fixed assets	171
Impairment losses	$ 1,264

Disposals and impairment - Summ

Disposals and impairment - Summary of financial information relating to the sale of businesses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017	Jan. 01, 2019
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Non-current assets	$ 213,135	$ 210,866	[1]
Current assets	82,059	71,310
Non-current liabilities	(120,891)	(112,391)	[1]
Current liabilities	(73,595)	(68,237)	[1]
Net assets	100,708	101,548	[1]		$ 101,218
Recycling of foreign exchange on disposal	(37)	(368)		$ (83)
Proceeds from the sale of businesses, net of cash disposed	1,701	1,911		478
Disposal Group, Disposed of by Sale
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Non-current assets	1,653	3,274		735
Current assets	507	173		57
Non-current liabilities	(257)	(250)		(173)
Current liabilities	(108)	(97)		(86)
Net assets	1,795	3,100		533
Recycling of foreign exchange on disposal	880	0		0
Costs on disposal	190	3		3
Total carrying amount of net assets disposed, including foreign exchange and cost of disposal	2,865	3,103		536
Gains (losses) on sale of businesses	(1,190)	(221)		44
Total consideration	1,675	2,882		580
Non-cash consideration	(938)	(282)		(216)
Consideration received (receivable)	964	(689)		114
Proceeds from the sale of businesses, net of cash disposed	1,701	1,911		478
Cash and cash equivalents disposed of	30	$ 15		$ 25
BP Exploration (Alaska) | Disposal Group, Disposed of by Sale
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Consideration received (receivable)	$ 633
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Segmental analysis - Narrative

Segmental analysis - Narrative (Details)	12 Months Ended
	Dec. 31, 2019segment
Operating Segments [Abstract]
Number of reportable segments (segment)	3

Segmental analysis - Results by

Segmental analysis - Results by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment revenues
Sales and other operating revenues	$ 278,397	$ 298,756	$ 240,208
Less: sales and other operating revenues between segments	0	0	0
Third party sales and other operating revenues	278,397	298,756	240,208
Earnings from joint ventures and associates – after interest and tax	3,257	3,753	2,507
Segment results
Replacement cost profit (loss) before interest and taxation	11,039	20,179	8,621
Inventory holding gains (losses)	667	(801)	853
Profit before interest and taxation	11,706	19,378	9,474
Finance costs	(3,489)	(2,528)	(2,074)
Net finance expense relating to pensions and other post-retirement benefits	(63)	(127)	(220)
Profit (loss) before taxation	8,154	16,723	7,180
Other income statement items
Depreciation, depletion and amortization	17,780	15,457	15,584
Charges for provisions, net of write-back of unused provisions, including change in discount rate	1,185	2,746	3,426
Segment assets
Investments in joint ventures and associates	30,325	26,320
Additions to non-current assetsb	22,613	28,352
US
Segment revenues
Third party sales and other operating revenues	89,334	98,066	83,269
Other income statement items
Depreciation, depletion and amortization	6,062	5,170	5,571
Non-US
Segment revenues
Third party sales and other operating revenues	189,063	200,690	156,939
Other income statement items
Depreciation, depletion and amortization	11,718	10,287	10,013
Reportable segments | Upstream
Segment revenues
Sales and other operating revenues	54,501	56,399	45,440
Less: sales and other operating revenues between segments	(27,034)	(28,565)	(24,179)
Third party sales and other operating revenues	27,467	27,834	21,261
Earnings from joint ventures and associates – after interest and tax	603	951	930
Segment results
Replacement cost profit (loss) before interest and taxation	4,917	14,328	5,221
Inventory holding gains (losses)	(8)	(6)	8
Profit before interest and taxation	4,909	14,322	5,229
Other income statement items
Charges for provisions, net of write-back of unused provisions, including change in discount rate	118	355	220
Segment assets
Investments in joint ventures and associates	12,196	12,785
Additions to non-current assetsb	16,254	24,266
Reportable segments | Upstream | US
Other income statement items
Depreciation, depletion and amortization	4,672	4,211	4,631
Reportable segments | Upstream | Non-US
Other income statement items
Depreciation, depletion and amortization	9,560	8,907	8,637
Reportable segments | Downstream
Segment revenues
Sales and other operating revenues	250,897	270,689	219,853
Less: sales and other operating revenues between segments	(973)	(574)	(1,800)
Third party sales and other operating revenues	249,924	270,115	218,053
Earnings from joint ventures and associates – after interest and tax	374	589	674
Segment results
Replacement cost profit (loss) before interest and taxation	6,502	6,940	7,221
Inventory holding gains (losses)	685	(862)	758
Profit before interest and taxation	7,187	6,078	7,979
Other income statement items
Charges for provisions, net of write-back of unused provisions, including change in discount rate	507	834	304
Segment assets
Investments in joint ventures and associates	3,609	2,772
Additions to non-current assetsb	4,014	3,609
Reportable segments | Downstream | US
Other income statement items
Depreciation, depletion and amortization	1,335	900	875
Reportable segments | Downstream | Non-US
Other income statement items
Depreciation, depletion and amortization	1,586	1,177	1,141
Reportable segments | Rosneft
Segment revenues
Sales and other operating revenues	0	0	0
Less: sales and other operating revenues between segments	0	0	0
Third party sales and other operating revenues	0	0	0
Earnings from joint ventures and associates – after interest and tax	2,295	2,283	922
Segment results
Replacement cost profit (loss) before interest and taxation	2,316	2,221	836
Inventory holding gains (losses)	(10)	67	87
Profit before interest and taxation	2,306	2,288	923
Other income statement items
Charges for provisions, net of write-back of unused provisions, including change in discount rate	0	0	0
Segment assets
Investments in joint ventures and associates	12,927	10,074
Additions to non-current assetsb	0	0
Reportable segments | Rosneft | US
Other income statement items
Depreciation, depletion and amortization	0	0	0
Reportable segments | Rosneft | Non-US
Other income statement items
Depreciation, depletion and amortization	0	0	0
Other businesses and corporate
Segment revenues
Sales and other operating revenues	1,788	1,678	1,469
Less: sales and other operating revenues between segments	(782)	(871)	(575)
Third party sales and other operating revenues	1,006	807	894
Earnings from joint ventures and associates – after interest and tax	(15)	(70)	(19)
Segment results
Replacement cost profit (loss) before interest and taxation	(2,771)	(3,521)	(4,445)
Inventory holding gains (losses)	0	0	0
Profit before interest and taxation	(2,771)	(3,521)	(4,445)
Other income statement items
Charges for provisions, net of write-back of unused provisions, including change in discount rate	560	1,557	2,902
Segment assets
Investments in joint ventures and associates	1,593	689
Additions to non-current assetsb	2,345	477
Other businesses and corporate | US
Other income statement items
Depreciation, depletion and amortization	55	59	65
Other businesses and corporate | Non-US
Other income statement items
Depreciation, depletion and amortization	572	203	235
Consolidation adjustment and eliminations
Segment revenues
Sales and other operating revenues	(28,789)	(30,010)	(26,554)
Less: sales and other operating revenues between segments	28,789	30,010	26,554
Third party sales and other operating revenues	0	0	0
Earnings from joint ventures and associates – after interest and tax	0	0	0
Segment results
Replacement cost profit (loss) before interest and taxation	75	211	(212)
Inventory holding gains (losses)	0	0	0
Profit before interest and taxation	75	211	(212)
Other income statement items
Charges for provisions, net of write-back of unused provisions, including change in discount rate	0	0	0
Segment assets
Investments in joint ventures and associates	0	0
Additions to non-current assetsb	0	0
Consolidation adjustment and eliminations | US
Other income statement items
Depreciation, depletion and amortization	0	0	0
Consolidation adjustment and eliminations | Non-US
Other income statement items
Depreciation, depletion and amortization	$ 0	$ 0	$ 0

Segmental analysis - Results _2

Segmental analysis - Results by Geographical Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of geographical areas [line items]
Sales and other operating revenues	$ 278,397	$ 298,756	$ 240,208
Production and similar taxes	1,547	1,536	1,775
Replacement cost profit (loss) before interest and taxation	11,039	20,179	8,621
Non-current assets	191,155	192,248
US
Disclosure of geographical areas [line items]
Sales and other operating revenues	89,334	98,066	83,269
Production and similar taxes	315	369	52
Non-current assets	57,757	68,188
Non-US
Disclosure of geographical areas [line items]
Sales and other operating revenues	189,063	200,690	156,939
Production and similar taxes	1,232	1,167	1,723
Non-current assets	133,398	124,060
United Kingdom
Disclosure of geographical areas [line items]
Sales and other operating revenues	63,194	65,630	$ 48,837
Non-current assets	$ 22,881	$ 19,426

Revenue from contracts with c_3

Revenue from contracts with customers - Summary of revenue from contracts with customers, by product (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	$ 276,079	$ 296,255	$ 238,225
Crude oil
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	62,130	65,276	49,670
Oil products
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	180,528	195,466	159,821
Natural gas, LNG and NGLs
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	20,167	21,745	16,196
Non-oil products and other revenues from contracts with customers
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues from contracts with customers	$ 13,254	$ 13,768	$ 12,538

Income statement analysis - Sum

Income statement analysis - Summary of non-operating income and expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest and other income
Other income	$ 349	$ 313	$ 369
Finance income	769	773	657
Currency exchange losses charged to the income statementa	37	368	83
Expenditure on research and development	364	429	391
Finance costs
Interest payable on lease liabilities	379	51	56
Interest costs capitalised	(374)	(419)	(297)
Expense due to unwinding of discount on provisions	505	210	150
Expense Due To Unwinding Of Other Payables Measured At Amortized Cost	569	539	503
Finance costs	$ 3,489	$ 2,528	$ 2,074
Capitalisation rate of borrowing costs eligible for capitalisation	3.50%	3.56%	2.25%
Tax relief on capitalized interest	$ 51	$ 55	$ 64
Measured at amortized cost
Interest and other income
Interest income from	371	421	288
Financial assets at fair value, class [member]
Interest and other income
Interest income from	49	39	0
Financial liabilities at amortised cost, class [member]
Finance costs
Interest payable on other liabilities measured at amortized cost	2,410	2,147	1,662
Gulf of Mexico Oil Spill
Interest and other income
Costs relating to Gulf of Mexico oil spill, pre-interest and tax	$ 319	$ 714	$ 2,687

Exploration for and evaluatio_3

Exploration for and evaluation of oil and natural gas resources - Summary of exploration and evaluation information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Exploration and evaluation costs
Exploration expenditure written off	$ 631	$ 1,085		$ 1,603
Exploration expense for the year	964	1,445		2,080
Intangible assets	15,539	17,284	[1]	18,355
Exploration and appraisal expenditure
Exploration and evaluation costs
Intangible assets	14,091	15,989		17,026
Upstream
Exploration and evaluation costs
Exploration expenditure written off	631	1,085		1,603
Other exploration costs	333	360		477
Exploration expense for the year	964	1,445		2,080
Liabilities	73	60		82
Net assets	14,018	15,929		16,944
Cash used in operating activities	333	360		477
Cash used in investing activities	1,215	1,119		1,901
Upstream | Exploration and appraisal expenditure
Exploration and evaluation costs
Impairment losses	2	137		0
Intangible assets	14,091	15,989		$ 17,026
Upstream | Angola | Exploration and appraisal expenditure
Exploration and evaluation costs
Exploration expenditure written off		574
Upstream | Egypt | Exploration and appraisal expenditure
Exploration and evaluation costs
Exploration expenditure written off		208
Upstream | Gulf of Mexico | Exploration and appraisal expenditure
Exploration and evaluation costs
Exploration expenditure written off	447	$ 145
Upstream | Canada | Exploration and appraisal expenditure
Exploration and evaluation costs
Intangible assets	$ 2,500
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Exploration for and evaluatio_4

Exploration for and evaluation of oil and natural gas resources - Carrying amount by geographical location (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 15,539	$ 17,284	[1]	$ 18,355
Exploration and appraisal expenditure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	14,091	15,989		17,026
Upstream | Exploration and appraisal expenditure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	14,091	$ 15,989		$ 17,026
Minimum | Angola, Egypt, And Middle East [Member] [Domain] | Upstream | Exploration and appraisal expenditure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,000
Minimum | US - Gulf of Mexico; Canada; Brazil | Upstream | Exploration and appraisal expenditure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,000
Maximum | Angola, Egypt, And Middle East [Member] [Domain] | Upstream | Exploration and appraisal expenditure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,000
Maximum | US - Gulf of Mexico; Canada; Brazil | Upstream | Exploration and appraisal expenditure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 3,000
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Taxation - Disclosure of major

Taxation - Disclosure of major components of tax expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current tax
Charge for the year	$ 5,316	$ 6,217	$ 4,208
Adjustment in respect of prior yearsa	(68)	(221)	58
Current tax	5,248	5,996	4,266
Deferred tax
Origination and reversal of temporary differences in the current year	(1,190)	907	(503)
Adjustment in respect of prior years	(94)	242	(51)
Deferred tax expense (income) recognised in profit or loss	(1,284)	1,149	(554)
Tax charge on profit	$ 3,964	7,145	3,712
Tax charge related to US Federal Corporate tax rate changes		$ 121	$ 859

Taxation - Narrative (Details)

Taxation - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017	Jan. 01, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 4,560	$ 3,706	[1]		$ 3,736
Tax charge (credit) recognized within other comprehensive income	227	714		$ 1,499
Tax recognized directly in equity	(37)	(17)		$ 263
Deferred tax assets in entities which have suffered a loss in either the current or preceding period	2,421	2,758
US
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets in entities which have suffered a loss in either the current or preceding period	$ 2,421	1,563
India
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets in entities which have suffered a loss in either the current or preceding period		$ 1,108
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Taxation - Disclosure of reconc

Taxation - Disclosure of reconciliation of items affected by overall tax credit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Profit before taxation	$ 8,154	$ 16,723	$ 7,180
Tax charge on profit	$ 3,964	$ 7,145	$ 3,712
Effective tax rate	49.00%	43.00%	52.00%
Tax rate computed at the weighted average statutory rate	52.00%	43.00%	44.00%
Increase (decrease) resulting from
Tax reported in equity-accounted entities	(0.07)	(0.05)	(0.07)
Deferred tax not recognizedb	(0.02)	0.01	0.06
Tax incentives for investment	(0.03)	(0.02)	(0.06)
Foreign exchange	1.00%	3.00%	(4.00%)
Items not deductible for tax purposes	4.00%	1.00%	5.00%
Impact of US tax reform	0.00%	(1.00%)	12.00%
Other	4.00%	3.00%	2.00%

Taxation - Disclosure of moveme

Taxation - Disclosure of movement in net deferred tax liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	Dec. 18, 2018	Jan. 01, 2018
Reconciliation of changes in deferred tax liability (asset) [abstract]
Net deferred tax liability, beginning of period	$ 6,106	$ 3,513
Adjustment on adoption of IFRS 9				$ 0		$ (36)
Adjustment on adoption of IFRS 16				$ (75)		$ 0
Exchange adjustments	72	(68)
Charge (credit) for the year in the income statement	(1,284)	1,149	$ (554)
Charge for the year in other comprehensive income	233	734
Charge for the year in equity	37	17
Acquisitions, disposals and other additionsc	101	797
Net deferred tax liability, end of period	$ 5,190	$ 6,106	$ 3,513
Purchase of interest in Clair Field
Disclosure of detailed information about business combination [line items]
Percentage of interest in joint operation purchased					16.50%

Taxation - Disclosure of deferr

Taxation - Disclosure of deferred tax in the income statement and the balance sheet by category of temporary difference (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017	Jan. 01, 2019	Jan. 01, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	$ (1,284)	$ 1,149		$ (554)
Balance sheet
Deferred tax liability	9,750	9,812	[1]		$ 9,767
Deferred tax asset	(4,560)	(3,706)	[1]		(3,736)
Deferred tax liabilities	9,750	9,812	[1]		9,767
Deferred tax liability (asset)	5,190	6,106		3,513	$ 6,031	$ 3,477
Before Offset Amount
Balance sheet
Deferred tax liability	26,442	25,745
Deferred tax asset	(21,252)	(19,639)
Deferred tax liabilities	26,442	25,745
Before Offset Amount | Temporary Differences, Deferred Tax Liability
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	(1,279)	(1,325)		(4,074)
Before Offset Amount | Depreciation
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	(1,436)	(1,297)		(3,971)
Balance sheet
Deferred tax liability	22,627	22,565
Deferred tax liabilities	22,627	22,565
Before Offset Amount | Pension plan surpluses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	(31)	65		(12)
Balance sheet
Deferred tax liability	2,290	1,956
Deferred tax liabilities	2,290	1,956
Before Offset Amount | Derivative financial instruments
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	29	(36)		(27)
Balance sheet
Deferred tax liability	29	0
Deferred tax liabilities	29	0
Before Offset Amount | Other taxable temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	159	(57)		(64)
Balance sheet
Deferred tax liability	1,496	1,224
Deferred tax liabilities	1,496	1,224
Before Offset Amount | Temporary Differences, Deferred Tax Assets
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	(5)	2,474		3,520
Before Offset Amount | Lease Liabilities
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	264	8		(16)
Balance sheet
Deferred tax asset	(1,380)	(90)
Before Offset Amount | Pension plan and other post-retirement benefit plan deficits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	62	(6)		340
Balance sheet
Deferred tax asset	(1,367)	(1,319)
Before Offset Amount | Decommissioning, environmental and other provisions
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	(472)	1,505		3,503
Balance sheet
Deferred tax asset	(7,579)	(7,126)
Before Offset Amount | Derivative financial instruments
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	63	(31)		(47)
Balance sheet
Deferred tax asset	(24)	(95)
Before Offset Amount | Tax credits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	(336)	123		1,476
Balance sheet
Deferred tax asset	(3,964)	(3,626)
Before Offset Amount | Loss carry forward
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	12	559		(964)
Balance sheet
Deferred tax asset	(5,834)	(5,900)
Before Offset Amount | Other deductible temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Charge (credit) for the year in the income statement	402	316		$ (772)
Balance sheet
Deferred tax asset	(1,104)	(1,483)
Gulf of Mexico Oil Spill
Balance sheet
Deferred tax asset	$ (5,526)	$ (5,562)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Taxation - Disclosure of tempor

Taxation - Disclosure of temporary differences, unused tax credits and unused tax losses (Details) - USD ($) $ in Billions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax credits for which no deferred tax asset recognised	$ 25.4	$ 22.5
Taxable temporary differences associated with investments in subsidiaries and equity-accounted entities	1.5	1.5
Fixed Asset Related Temporary Differences [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible temporary differences	40.4	37.3
UK Tax Authority
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax credits for which no deferred tax asset recognised	21.5	18.7
Internal Revenue Service (IRS) | US Tax Authority
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax losses for which no deferred tax asset recognised	2.3	6.6
Unused tax credits for which no deferred tax asset recognised	$ 3.9	3.8
Internal Revenue Service (IRS) | US Tax Authority | Minimum
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax rate computed at the weighted average statutory ratea	3.00%
Internal Revenue Service (IRS) | US Tax Authority | Maximum
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax rate computed at the weighted average statutory ratea	12.00%
Her Majesty's Revenue and Customs, And Other Foreign Tax Authorities, Excluding Internal Revenue Service
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax losses for which no deferred tax asset recognised	$ 3.5	$ 4.3

Taxation - Disclosure of unreco

Taxation - Disclosure of unrecognized deferred tax or write-down of deferred tax assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Abstract]
Current tax benefit relating to the utilization of previously unrecognized deferred tax assets	$ 272	$ 83	$ 22
Deferred tax benefit arising from the reversal of a previous write-down of deferred tax assets	96	0	0
Deferred tax benefit relating to the recognition of previously unrecognized deferred tax assets	364	112	436
Deferred tax expense arising from the write-down of a previously recognized deferred tax asset	$ 73	$ 169	$ 78

Dividends - Narrative (Details)

Dividends - Narrative (Details)	12 Months Ended
	Dec. 31, 2019$ / shares
Ordinary Shares
Disclosure of classes of share capital [line items]
Quarterly dividend paid per ordinary share (in USD per share)	$ 0.1050
American Depositary Share
Disclosure of classes of share capital [line items]
Quarterly dividend paid per ordinary share (in USD per share)	$ 0.63

Dividends - Schedule of dividen

Dividends - Schedule of dividends announced and paid (Details) $ / shares in Units, $ in Millions	3 Months Ended																									12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019£ / shares	Sep. 30, 2019USD ($)$ / shares	Sep. 30, 2019£ / shares	Jun. 30, 2019USD ($)$ / shares	Jun. 30, 2019£ / shares	Mar. 31, 2019USD ($)$ / shares	Mar. 31, 2019£ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2018£ / shares	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2018£ / shares	Jun. 30, 2018USD ($)$ / shares	Jun. 30, 2018£ / shares	Mar. 31, 2018USD ($)$ / shares	Mar. 31, 2018£ / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2017£ / shares	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2017£ / shares	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2017£ / shares	Mar. 31, 2017USD ($)$ / shares	Mar. 31, 2017£ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019£ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2018£ / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2017£ / shares
Disclosure of classes of share capital [line items]
Quarterly dividend paid per ordinary share (in Pence and USD per share) | (per share)		$ 0.1025	£ 0.07825	$ 0.1025	£ 0.08348	$ 0.1025	£ 0.08066	$ 0.1025	£ 0.07738	$ 0.1025	£ 0.080251	$ 0.1025	£ 0.079296	$ 0.10	£ 0.074435	$ 0.10	£ 0.071691	$ 0.10	£ 0.074435	$ 0.10	£ 0.076213	$ 0.10	£ 0.077563	$ 0.10	£ 0.081587	$ 0.41	£ 0.31977	$ 0.405	£ 0.305673	$ 0.40	£ 0.309798
Dividend paid per ordinary share		$ 2,075		$ 1,656		$ 1,779		$ 1,435		$ 1,734		$ 1,409		$ 1,727		$ 1,828		$ 1,627		$ 1,676		$ 1,546		$ 1,303		$ 6,946		$ 6,699		$ 6,153
Preference shares
Disclosure of classes of share capital [line items]
Dividends paid, other than ordinary shares																										$ 1		$ 1		$ 1
Ordinary Shares
Disclosure of classes of share capital [line items]
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share | $ / shares																										$ 0.1050
Subsequent Event
Disclosure of classes of share capital [line items]
Dividend paid per ordinary share	$ 2,120

Dividends - Schedule of scrip d

Dividends - Schedule of scrip dividends issued (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interim Financial Reporting [Abstract]
Number of shares issued (in shares)	208,927	195,305	289,789
Value of shares issued	$ 1,387	$ 1,381	$ 1,714

Earnings per share - Earnings p

Earnings per share - Earnings per share, basic and diluted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Ordinary Shares
Earnings per share [line items]
Basic earnings (loss) per share (USD per share)	$ 0.1984	$ 0.4698	$ 0.1720
Diluted earnings (loss) per share (USD per share)	0.1973	0.4667	0.1710
American Depositary Share
Earnings per share [line items]
Basic earnings (loss) per share (USD per share)	1.19	2.82	1.03
Diluted earnings (loss) per share (USD per share)	$ 1.18	$ 2.80	$ 1.03

Earnings per share - Weighted a

Earnings per share - Weighted average number of shares outstanding reconciliation (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings per share [line items]
BP shareholders	$ 4,026	$ 9,383	$ 3,389
Less: dividend requirements on preference shares	1	1	1
Profit for the year attributable to BP ordinary shareholders	$ 4,025	$ 9,382	$ 3,388
Ordinary Shares
Earnings per share [line items]
Basic weighted average number of ordinary shares (in shares)	20,284,859	19,970,215	19,692,613
Potential dilutive effect of ordinary shares issuable under employee share-based payment plans (in shares)	114,811	132,278	123,829
Weighted average number of ordinary shares outstanding used to calculate diluted earnings per share (in shares)	20,399,670	20,102,493	19,816,442
American Depositary Share
Earnings per share [line items]
Basic weighted average number of ordinary shares (in shares)	3,380,809	3,328,369	3,282,102
Potential dilutive effect of ordinary shares issuable under employee share-based payment plans (in shares)	19,136	22,046	20,638
Weighted average number of ordinary shares outstanding used to calculate diluted earnings per share (in shares)	3,399,945	3,350,415	3,302,740

Earnings per share - Narrative

Earnings per share - Narrative (Details) - USD ($) $ in Millions		2 Months Ended	3 Months Ended	12 Months Ended
		Feb. 27, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings per share [line items]
Repurchase of ordinary share capital	[1]			$ (1,511)	$ (355)	$ (343)
Equity-Settled Share-Based Payment Arrangement, Share Unit
Earnings per share [line items]
Performance or restricted period				3 years
Ordinary Shares
Earnings per share [line items]
Number of ordinary shares outstanding (in shares)				20,241,170,964.9968
Repurchase of ordinary share capital (in shares)			120,000,000	(235,951,000)	(50,202,000)	(51,292,000)
Repurchase of ordinary share capital			$ 776	$ (59)	$ (13)	$ (13)
Ordinary Shares | Subsequent Event
Earnings per share [line items]
Net increase in the number of ordinary shares outstanding (in shares)		46,527,851
Decrease in number of ordinary shares outstanding (in shares)		37,497,364
[1]	See Note 32 for further information.

Earnings per share - Dilutive e

Earnings per share - Dilutive effect of share options (Details)	12 Months Ended
	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2019£ / shares	Dec. 31, 2018£ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of ordinary share equivalents per American Depositary Share (in shares)	6
Quoted market price (gbp per share) | £ / shares			£ 4.72	£ 4.96
Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options outstanding (in shares)	17,112,000	19,437,000
Weighted average exercise price of options outstanding (USD per share) | $	$ 4.91	$ 4.28
Number of options exercisable (in shares)	1,067,000	481,000
Weighted average exercise price of exercisable options (USD per share) | $	$ 3.97	$ 4.69
Dilutive effect (in shares)	3,990,000	6,123,000

Earnings per share - Dilutive_2

Earnings per share - Dilutive effect of share units (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Earnings per share [line items]
Number of ordinary share equivalents per American Depositary Share (in shares)	6
Equity-Settled Share-Based Payment Arrangement, Share Unit
Earnings per share [line items]
Number of equity instruments other than options, expected to vest within one year (in shares)	91,105,000	108,934,000
Number of equity instruments other than options, expected to vest within two years (in shares)	89,939,000	106,337,000
Number of equity instruments other than options, expected to vest within three years (in shares)	80,844,000	71,407,000
Number of equity instruments other than options, expected to vest within four years (in shares)	725,000	588,000
Number of equity instruments other than options, expected to vest over four years (in shares)	576,000	799,000
Number of equity instruments other than options, expected to vest (in shares)	263,189,000	288,065,000
Dilutive effect (in shares)	92,343,000	127,165,000

Property, plant and equipment -

Property, plant and equipment - Summary of property, plant and equipment (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment	[1]	$ 135,261
Ending balance, property, plant and equipment		132,642	$ 135,261	[1]
Assets held under finance leases at net book amount included aboved			522
Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		306,348	300,138
Exchange adjustments			(1,735)
Additions			13,136
Acquisitions			11,097
Remeasurements			17
Transfers from intangible assets			901
Reclassified as assets held for sale		29,412
Deletions			(17,206)
Ending balance, property, plant and equipment			306,348
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(171,087)	(170,667)
Exchange adjustments			867
Charge for the year			15,131
Reclassified as assets held for sale		(23,311)
Impairment losses			521
Impairment reversals			(582)
Deletions			13,783
Ending balance, property, plant and equipment			(171,087)
Land and land improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		2,936
Ending balance, property, plant and equipment		3,028	2,936
Assets held under finance leases at net book amount included aboved			0
Land and land improvements | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		3,562	3,474
Exchange adjustments			(168)
Additions			233
Acquisitions			163
Remeasurements			0
Transfers from intangible assets			0
Reclassified as assets held for sale		26
Deletions			(140)
Ending balance, property, plant and equipment			3,562
Land and land improvements | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(626)	(683)
Exchange adjustments			25
Charge for the year			92
Reclassified as assets held for sale		0
Impairment losses			2
Impairment reversals			0
Deletions			126
Ending balance, property, plant and equipment			(626)
Buildings
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		807
Ending balance, property, plant and equipment		1,921	807
Assets held under finance leases at net book amount included aboved			2
Buildings | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		1,514	1,573
Exchange adjustments			(58)
Additions			40
Acquisitions			4
Remeasurements			0
Transfers from intangible assets			0
Reclassified as assets held for sale		0
Deletions			(45)
Ending balance, property, plant and equipment			1,514
Buildings | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(707)	(818)
Exchange adjustments			24
Charge for the year			52
Reclassified as assets held for sale		0
Impairment losses			0
Impairment reversals			0
Deletions			139
Ending balance, property, plant and equipment			(707)
Oil and gas properties
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		99,010
Ending balance, property, plant and equipment		89,714	99,010
Assets held under finance leases at net book amount included aboved			12
Oil and gas properties | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		232,867	226,054
Exchange adjustments			0
Additions			9,712
Acquisitions			10,882
Remeasurements			17
Transfers from intangible assets			901
Reclassified as assets held for sale		22,602
Deletions			(14,699)
Ending balance, property, plant and equipment			232,867
Oil and gas properties | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(133,857)	(133,326)
Exchange adjustments			0
Charge for the year			12,342
Reclassified as assets held for sale		(17,764)
Impairment losses			86
Impairment reversals			(564)
Deletions			11,333
Ending balance, property, plant and equipment			(133,857)
Plant, Machinery & Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		25,417
Ending balance, property, plant and equipment		26,438	25,417
Assets held under finance leases at net book amount included aboved			207
Plant, Machinery & Equipment | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		46,292	46,662
Exchange adjustments			(892)
Additions			2,323
Acquisitions			9
Remeasurements			0
Transfers from intangible assets			0
Reclassified as assets held for sale		0
Deletions			(1,810)
Ending balance, property, plant and equipment			46,292
Plant, Machinery & Equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(20,875)	(20,996)
Exchange adjustments			460
Charge for the year			1,820
Reclassified as assets held for sale		0
Impairment losses			253
Impairment reversals			(1)
Deletions			1,733
Ending balance, property, plant and equipment			(20,875)
Fixtures, fittings and office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		706
Ending balance, property, plant and equipment		542	706
Assets held under finance leases at net book amount included aboved			0
Fixtures, fittings and office equipment | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		2,747	2,853
Exchange adjustments			(73)
Additions			204
Acquisitions			1
Remeasurements			0
Transfers from intangible assets			0
Reclassified as assets held for sale		76
Deletions			(238)
Ending balance, property, plant and equipment			2,747
Fixtures, fittings and office equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(2,041)	(2,136)
Exchange adjustments			52
Charge for the year			189
Reclassified as assets held for sale		(69)
Impairment losses			0
Impairment reversals			0
Deletions			232
Ending balance, property, plant and equipment			(2,041)
Transportation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		2,659
Ending balance, property, plant and equipment		4,115	2,659
Assets held under finance leases at net book amount included aboved			295
Transportation | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		10,493	10,774
Exchange adjustments			(43)
Additions			(112)
Acquisitions			2
Remeasurements			0
Transfers from intangible assets			0
Reclassified as assets held for sale		6,708
Deletions			(128)
Ending balance, property, plant and equipment			10,493
Transportation | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(7,834)	(7,523)
Exchange adjustments			27
Charge for the year			252
Reclassified as assets held for sale		(5,478)
Impairment losses			178
Impairment reversals			(17)
Deletions			75
Ending balance, property, plant and equipment			(7,834)
Oil depots, storage tanks and service stations
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		3,726
Ending balance, property, plant and equipment		6,884	3,726
Assets held under finance leases at net book amount included aboved			6
Oil depots, storage tanks and service stations | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		8,873	8,748
Exchange adjustments			(501)
Additions			736
Acquisitions			36
Remeasurements			0
Transfers from intangible assets			0
Reclassified as assets held for sale		0
Deletions			(146)
Ending balance, property, plant and equipment			8,873
Oil depots, storage tanks and service stations | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(5,147)	(5,185)
Exchange adjustments			279
Charge for the year			384
Reclassified as assets held for sale		0
Impairment losses			2
Impairment reversals			0
Deletions			145
Ending balance, property, plant and equipment			(5,147)
Assets under construction
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		22,522
Ending balance, property, plant and equipment		23,897	22,522
Property plant and equipment not subject to operating leases
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		123,621
Property plant and equipment not subject to operating leases | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		305,265
Exchange adjustments		(232)
Additions		16,941
Acquisitions		59
Transfers from intangible assets		1,885
Deletions		(13,699)
Ending balance, property, plant and equipment		280,807	305,265
Property plant and equipment not subject to operating leases | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(170,528)
Exchange adjustments		98
Charge for the year		15,581
Impairment losses		6,346
Impairment reversals		(131)
Deletions		11,729
Ending balance, property, plant and equipment		(157,186)	(170,528)
Property plant and equipment not subject to operating leases | Land and land improvements
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		3,028
Property plant and equipment not subject to operating leases | Land and land improvements | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		3,562
Exchange adjustments		(22)
Additions		88
Acquisitions		51
Transfers from intangible assets		0
Deletions		(44)
Ending balance, property, plant and equipment		3,609	3,562
Property plant and equipment not subject to operating leases | Land and land improvements | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(626)
Exchange adjustments		4
Charge for the year		44
Impairment losses		1
Impairment reversals		0
Deletions		86
Ending balance, property, plant and equipment		(581)	(626)
Property plant and equipment not subject to operating leases | Buildings
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		725
Property plant and equipment not subject to operating leases | Buildings | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		1,502
Exchange adjustments		5
Additions		93
Acquisitions		0
Transfers from intangible assets		0
Deletions		(178)
Ending balance, property, plant and equipment		1,422	1,502
Property plant and equipment not subject to operating leases | Buildings | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(697)
Exchange adjustments		(5)
Charge for the year		59
Impairment losses		1
Impairment reversals		0
Deletions		65
Ending balance, property, plant and equipment		(697)	(697)
Property plant and equipment not subject to operating leases | Oil and gas properties
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		89,586
Property plant and equipment not subject to operating leases | Oil and gas properties | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		232,684
Exchange adjustments		0
Additions		13,237
Acquisitions		0
Transfers from intangible assets		1,885
Deletions		(10,852)
Ending balance, property, plant and equipment		214,352	232,684
Property plant and equipment not subject to operating leases | Oil and gas properties | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(133,687)
Exchange adjustments		0
Charge for the year		13,012
Impairment losses		5,871
Impairment reversals		(129)
Deletions		9,911
Ending balance, property, plant and equipment		(124,766)	(133,687)
Property plant and equipment not subject to operating leases | Plant, Machinery & Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		25,197
Property plant and equipment not subject to operating leases | Plant, Machinery & Equipment | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		45,721
Exchange adjustments		(158)
Additions		2,433
Acquisitions		0
Transfers from intangible assets		0
Deletions		(1,272)
Ending balance, property, plant and equipment		46,724	45,721
Property plant and equipment not subject to operating leases | Plant, Machinery & Equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(20,512)
Exchange adjustments		63
Charge for the year		1,705
Impairment losses		64
Impairment reversals		0
Deletions		691
Ending balance, property, plant and equipment		(21,527)	(20,512)
Property plant and equipment not subject to operating leases | Fixtures, fittings and office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		526
Property plant and equipment not subject to operating leases | Fixtures, fittings and office equipment | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		2,747
Exchange adjustments		15
Additions		172
Acquisitions		0
Transfers from intangible assets		0
Deletions		(326)
Ending balance, property, plant and equipment		2,532	2,747
Property plant and equipment not subject to operating leases | Fixtures, fittings and office equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(2,041)
Exchange adjustments		(12)
Charge for the year		168
Impairment losses		1
Impairment reversals		0
Deletions		147
Ending balance, property, plant and equipment		(2,006)	(2,041)
Property plant and equipment not subject to operating leases | Transportation
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		730
Property plant and equipment not subject to operating leases | Transportation | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		10,183
Exchange adjustments		(3)
Additions		274
Acquisitions		0
Transfers from intangible assets		0
Deletions		(272)
Ending balance, property, plant and equipment		3,474	10,183
Property plant and equipment not subject to operating leases | Transportation | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(7,819)
Exchange adjustments		3
Charge for the year		173
Impairment losses		404
Impairment reversals		(2)
Deletions		169
Ending balance, property, plant and equipment		(2,744)	(7,819)
Property plant and equipment not subject to operating leases | Oil depots, storage tanks and service stations
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		3,829
Property plant and equipment not subject to operating leases | Oil depots, storage tanks and service stations | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		8,866
Exchange adjustments		(69)
Additions		644
Acquisitions		8
Transfers from intangible assets		0
Deletions		(755)
Ending balance, property, plant and equipment		8,694	8,866
Property plant and equipment not subject to operating leases | Oil depots, storage tanks and service stations | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(5,146)
Exchange adjustments		45
Charge for the year		420
Impairment losses		4
Impairment reversals		0
Deletions		660
Ending balance, property, plant and equipment		(4,865)	(5,146)
Property, plant and equipment subject to operating leases [member]
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		9,021
Property, plant and equipment subject to operating leases [member] | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		2,241
Property, plant and equipment subject to operating leases [member] | Land and land improvements
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		0
Property, plant and equipment subject to operating leases [member] | Land and land improvements | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year
Property, plant and equipment subject to operating leases [member] | Buildings
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		1,196
Property, plant and equipment subject to operating leases [member] | Buildings | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		220
Property, plant and equipment subject to operating leases [member] | Oil and gas properties
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		128
Property, plant and equipment subject to operating leases [member] | Oil and gas properties | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		31
Property, plant and equipment subject to operating leases [member] | Plant, Machinery & Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		1,241
Property, plant and equipment subject to operating leases [member] | Plant, Machinery & Equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		671
Property, plant and equipment subject to operating leases [member] | Drilling rigs [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		653
Property, plant and equipment subject to operating leases [member] | Fixtures, fittings and office equipment
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		16
Property, plant and equipment subject to operating leases [member] | Fixtures, fittings and office equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		9
Property, plant and equipment subject to operating leases [member] | Transportation
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		3,385
Property, plant and equipment subject to operating leases [member] | Transportation | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		784
Property, plant and equipment subject to operating leases [member] | Ships [member]
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		2,929
Property, plant and equipment subject to operating leases [member] | Oil depots, storage tanks and service stations
Reconciliation of changes in property, plant and equipment [abstract]
Ending balance, property, plant and equipment		3,055
Property, plant and equipment subject to operating leases [member] | Oil depots, storage tanks and service stations | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Charge for the year		526
Adjustment on adoption of IFRS 16 | Carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		(1,083)
Ending balance, property, plant and equipment			(1,083)
Adjustment on adoption of IFRS 16 | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning balance, property, plant and equipment		$ (559)
Ending balance, property, plant and equipment			$ (559)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Capital commitments (Details)

Capital commitments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Associates
Disclosure of detailed information about property, plant and equipment [line items]
Contractual capital commitments	$ 787	$ 1,227	$ 1,451
Joint ventures
Disclosure of detailed information about property, plant and equipment [line items]
Contractual capital commitments	1,024	619	483
Property plant and equipment not subject to operating leases
Disclosure of detailed information about property, plant and equipment [line items]
Contractual capital commitments	$ 11,382	$ 8,319	$ 11,340

Goodwill and impairment revie_3

Goodwill and impairment review of goodwill - Disclosure of reconciliation of goodwill (Details) - Goodwill - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in goodwill [abstract]
Intangible assets and goodwill, beginning of period	$ 12,204,000,000	$ 11,551,000,000
Intangible assets and goodwill, end of period	11,868,000,000	12,204,000,000
Carrying amount
Reconciliation of changes in goodwill [abstract]
Intangible assets and goodwill, beginning of period	12,815,000,000	12,163,000,000
Exchange adjustments	79,000,000	(210,000,000)
Acquisitions and other additionsa	26,000,000	1,046,000,000
Deletions	(55,000,000)	(184,000,000)
Intangible assets and goodwill, end of period	12,865,000,000	12,815,000,000
Accumulated impairment
Reconciliation of changes in goodwill [abstract]
Intangible assets and goodwill, beginning of period	611,000,000	612,000,000
Exchange adjustments	0	0
Impairment loss recognised in profit or loss, goodwill	386,000,000	0
Deletions	0	(1,000,000)
Intangible assets and goodwill, end of period	$ 997,000,000	$ 611,000,000

Goodwill and impairment revie_4

Goodwill and impairment review of goodwill - Disclosure of goodwill by segment (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Upstream
Disclosure of detailed information about intangible assets [line items]
Excess of recoverable amount over carrying amount	$ 93,250	$ 53,391
Goodwill
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill	11,868	12,204	$ 11,551
Goodwill | Upstream
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill	7,958	8,346
Goodwill | Downstream
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill	3,904	3,802
Goodwill | Downstream | Lubricants
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill	2,779	2,692
Goodwill | Downstream | Other Products
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill	1,125	1,110
Goodwill | Other businesses and corporate
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill	$ 6	$ 56

Goodwill and impairment revie_5

Goodwill and impairment review of goodwill - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)MMBoe	Dec. 31, 2018USD ($)MMBoe
Disclosure of detailed information about intangible assets [line items]
Goodwill impairment related to expected divestments | $	$ 386	$ 0
Upstream
Disclosure of detailed information about intangible assets [line items]
Period used in testing for goodwill impairment	15 years
Estimated production volumes by which unit's recoverable amount exceeds its carrying amount for the next 15 years | MMBoe	829	829
Downstream
Disclosure of detailed information about intangible assets [line items]
Period used in determining value in use for cash-generating units	10 years
Downstream | Lubricants
Disclosure of detailed information about intangible assets [line items]
Growth rate used to extrapolate cash flow projections	2.80%
Downstream | Maximum
Disclosure of detailed information about intangible assets [line items]
Period over which cash flows for cash generating unit is derived	5 years
Goodwill | Weighted average
Disclosure of detailed information about intangible assets [line items]
Discount rate used in current estimate of value in use	12.00%

Intangible assets - Schedule of

Intangible assets - Schedule of intangible assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	$ 17,284	[1]	$ 18,355
Intangible assets, end of period	15,539		17,284	[1]
Carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	21,557		22,374
Exchange adjustments	2		(128)
Acquisitions	35		25
Additions	1,725		1,413
Transfers to property, plant and equipment	(1,885)		(901)
Reclassified as assets held for sale	0		0
Deletions	557		1,226
Intangible assets, end of period	20,206		21,557
Accumulated depreciation and amortisation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	(4,273)		(4,019)
Exchange adjustments	(4)		77
Charge for the year	962		1,411
Impairment losses	4		137
Reclassified as assets held for sale	0		0
Deletions	(515)		(1,217)
Intangible assets, end of period	(4,667)		(4,273)
Exploration and appraisal expenditure
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	15,989		17,026
Intangible assets, end of period	14,091		15,989
Exploration and appraisal expenditure | Carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	17,053		17,886
Exchange adjustments	0		0
Acquisitions	0		0
Additions	1,268		1,095
Transfers to property, plant and equipment	(1,885)		(901)
Reclassified as assets held for sale	0		0
Deletions	459		1,027
Intangible assets, end of period	15,306		17,053
Exploration and appraisal expenditure | Accumulated depreciation and amortisation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	(1,064)		(860)
Exchange adjustments	0		0
Charge for the year	631		1,085
Impairment losses	2		137
Reclassified as assets held for sale	0		0
Deletions	(421)		(1,018)
Intangible assets, end of period	(1,215)		(1,064)
Other intangibles
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	1,295		1,329
Intangible assets, end of period	1,448		1,295
Other intangibles | Carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	4,504		4,488
Exchange adjustments	2		(128)
Acquisitions	35		25
Additions	457		318
Transfers to property, plant and equipment	0		0
Reclassified as assets held for sale	0		0
Deletions	98		199
Intangible assets, end of period	4,900		4,504
Other intangibles | Accumulated depreciation and amortisation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning of period	(3,209)		(3,159)
Exchange adjustments	(4)		77
Charge for the year	331		326
Impairment losses	2		0
Reclassified as assets held for sale	0		0
Deletions	(94)		(199)
Intangible assets, end of period	$ (3,452)		$ (3,209)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Investments in joint ventures -

Investments in joint ventures - Summarized financial information relating to joint ventures (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017	Jan. 01, 2019
Disclosure of joint ventures [line items]
Sales and other operating revenues		$ 282,616	$ 303,738		$ 244,582
Profit (loss) before interest and taxation		11,706	19,378		9,474
Finance costs		3,489	2,528		2,074
Profit before taxation		8,154	16,723		7,180
Taxation		3,964	7,145		3,712
Profit (loss) for the year	[1],[2]	4,190	9,578		3,468
Other comprehensive income	[1],[2]	2,657	(1,980)		5,016
Total comprehensive income	[1],[2]	6,847	7,598		8,484
Non-current assets		213,135	210,866	[3]
Current assets		82,059	71,310
Total assets		295,194	282,176	[3]
Current liabilities		73,595	68,237	[3]
Non-current liabilities		120,891	112,391	[3]
Total liabilities		194,486	180,628	[3]
Net assets		100,708	101,548	[3]		$ 101,218
Investments in joint ventures accounted for using equity method		9,991	8,647	[3]
Joint ventures
Disclosure of joint ventures [line items]
Sales and other operating revenues		14,139	13,258		11,380
Profit (loss) before interest and taxation		975	1,396		1,394
Finance costs		111	85		100
Profit before taxation		864	1,311		1,294
Taxation		288	414		117
Profit (loss) for the year		576	897		1,177
Other comprehensive income		(6)	6		8
Total comprehensive income		570	903		$ 1,185
Non-current assets		13,408	10,399
Current assets		3,738	2,935
Total assets		17,146	13,334
Current liabilities		2,514	1,715
Non-current liabilities		4,676	3,017
Total liabilities		7,190	4,732
Net assets		9,956	8,602
Loans made by group companies to joint ventures		35	45
Investments in joint ventures accounted for using equity method		$ 9,991	$ 8,647
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.
[3]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Investments in joint ventures_3

Investments in joint ventures - Transactions between group and its joint ventures (Details) - Joint ventures - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Sales to joint ventures
Sales to related parties	$ 4,884	$ 4,603	$ 3,578
Related party receivable	431	251	352
Purchases from joint ventures
Purchases of goods, related party	1,812	1,336	1,257
Related party payables	$ 225	$ 300	$ 176

Investments in joint ventures_4

Investments in joint ventures - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
BP Bunge Bioenergia [Member]
Disclosure of joint ventures [line items]
Proportion of ownership interest in joint venture	50.00%
Joint ventures
Disclosure of joint ventures [line items]
Provision for doubtful debts	$ 0
Doubtful debt provision, expense	$ 0
Joint ventures | Minimum
Disclosure of joint ventures [line items]
Days sales outstanding, related party receivables	30 days
Joint ventures | Maximum
Disclosure of joint ventures [line items]
Days sales outstanding, related party receivables	45 days

Investments in associates - Sum

Investments in associates - Summarized aggregate financial information of associates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of associates [line items]
Earnings from associates – after interest and tax	$ 2,681	$ 2,856		$ 1,330
Investments in associates	20,334	17,673	[1]
Rosneft
Disclosure of associates [line items]
Earnings from associates – after interest and tax	2,295	2,283		922
Investments in associates	12,927	10,074
Other associates
Disclosure of associates [line items]
Earnings from associates – after interest and tax	386	573		408
Investments in associates	7,407	7,599
Associates
Disclosure of associates [line items]
Earnings from associates – after interest and tax	2,681	2,856		$ 1,330
Investments in associates	$ 20,334	$ 17,673
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Investments in associates - Nar

Investments in associates - Narrative (Details)	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Dec. 31, 2013	Dec. 31, 2019£ / shares	Dec. 31, 2018£ / shares
Disclosure of associates [line items]
Quoted market price (usd per share) | £ / shares					£ 4.72	£ 4.96
Rosneft
Disclosure of associates [line items]
Proportion of ownership interest in associate	19.75%			18.50%
Voting shares held in associate	19.75%
Quoted market price (usd per share) | $ / shares	$ 7.21	$ 6.18
Investments in associates with quoted price	$ 15,090,000,000	$ 12,934,000,000
Dividends received	785,000,000	620,000,000	$ 314,000,000
Associates
Disclosure of associates [line items]
Provision for doubtful debts	0
Doubtful debt provision, expense	0
Commitments in relations to contracts with associates	$ 11,198,000,000	$ 11,303,000,000
Associates | Minimum
Disclosure of associates [line items]
Term of receivables	30 days
Associates | Maximum
Disclosure of associates [line items]
Term of receivables	45 days
LLC Kharampurneftegaz
Disclosure of associates [line items]
Proportion of ownership interest in associate	49.00%
JSC Rosneftegaz | Rosneft
Disclosure of associates [line items]
Voting shares held in associate	50.00%
Number of shares owned in addition to proportion of voting shares owned (in shares) | shares	1

Investments in associates - S_2

Investments in associates - Summarized financial information relating to associates (Details) - USD ($) $ in Millions		Oct. 01, 2014	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017	Jan. 01, 2019
Disclosure of associates [line items]
Sales and other operating revenues			$ 282,616	$ 303,738		$ 244,582
Profit (loss) before interest and taxation			11,706	19,378		9,474
Finance costs			3,489	2,528		2,074
Profit before taxation			8,154	16,723		7,180
Taxation			3,964	7,145		3,712
Non-controlling interests			164	195		79
Profit for the year			4,026	9,383		3,389
Other comprehensive income	[1],[2]		2,657	(1,980)		5,016
Total comprehensive income	[1],[2]		6,847	7,598		8,484
Non-current assets			213,135	210,866	[3]
Current assets			82,059	71,310
Total assets			295,194	282,176	[3]
Current liabilities			73,595	68,237	[3]
Non-current liabilities			120,891	112,391	[3]
Total liabilities			194,486	180,628	[3]
Net assets			100,708	101,548	[3]		$ 101,218
Less: non-controlling interests			2,296	2,104	[3]		2,103
BP shareholders’ equity			98,412	99,444	[3]		$ 99,115
Group investment in associates			20,334	17,673	[3]
Term for highly probable future revenue denominated in foreign countries		5 years
Rosneft
Disclosure of associates [line items]
Sales and other operating revenues			26,474	25,936		20,348
Profit (loss) before interest and taxation			3,451	3,730		1,965
Finance costs			253	550		440
Profit before taxation			3,198	3,180		1,525
Taxation			604	584		344
Non-controlling interests			299	313		259
Profit for the year			2,295	2,283		922
Other comprehensive income			113	412		555
Total comprehensive income			2,408	2,695		1,477
Non-current assets			31,862	27,065
Current assets			7,635	8,579
Total assets			39,497	35,644
Current liabilities			8,781	8,159
Non-current liabilities			15,667	15,554
Total liabilities			24,448	23,713
Net assets			15,049	11,931
Less: non-controlling interests			2,122	1,857
BP shareholders’ equity			12,927	10,074
Loans made by group companies to associates			0	0
Group investment in associates			12,927	10,074
Other associates
Disclosure of associates [line items]
Sales and other operating revenues			7,934	9,134		7,600
Profit (loss) before interest and taxation			788	1,150		626
Finance costs			87	78		54
Profit before taxation			701	1,072		572
Taxation			315	499		164
Non-controlling interests			0	0		0
Profit for the year			386	573		408
Other comprehensive income			(25)	(1)		1
Total comprehensive income			361	572		409
Non-current assets			11,504	10,787
Current assets			1,924	2,398
Total assets			13,428	13,185
Current liabilities			1,908	2,232
Non-current liabilities			4,577	3,817
Total liabilities			6,485	6,049
Net assets			6,943	7,136
Less: non-controlling interests			0	0
BP shareholders’ equity			6,943	7,136
Loans made by group companies to associates			464	463
Group investment in associates			7,407	7,599
Associates
Disclosure of associates [line items]
Sales and other operating revenues			34,408	35,070		27,948
Profit (loss) before interest and taxation			4,239	4,880		2,591
Finance costs			340	628		494
Profit before taxation			3,899	4,252		2,097
Taxation			919	1,083		508
Non-controlling interests			299	313		259
Profit for the year			2,681	2,856		1,330
Other comprehensive income			88	411		556
Total comprehensive income			2,769	3,267		1,886
Non-current assets			43,366	37,852
Current assets			9,559	10,977
Total assets			52,925	48,829
Current liabilities			10,689	10,391
Non-current liabilities			20,244	19,371
Total liabilities			30,933	29,762
Net assets			21,992	19,067
Less: non-controlling interests			2,122	1,857
BP shareholders’ equity			19,870	17,210
Loans made by group companies to associates			464	463
Group investment in associates			20,334	17,673
Rosneft
Disclosure of associates [line items]
Sales and other operating revenues			134,046	131,322		103,028
Profit (loss) before interest and taxation			17,473	18,886		9,949
Finance costs			1,281	2,785		2,228
Profit before taxation			16,192	16,101		7,721
Taxation			3,058	2,957		1,742
Non-controlling interests			1,514	1,585		1,311
Profit for the year			11,620	11,559		4,668
Other comprehensive income			572	2,086		2,810
Total comprehensive income			12,192	13,645		$ 7,478
Non-current assets			161,327	137,038
Current assets			38,657	43,438
Total assets			199,984	180,476
Current liabilities			44,459	41,311
Non-current liabilities			79,327	78,754
Total liabilities			123,786	120,065
Net assets			76,198	60,411
Less: non-controlling interests			10,744	9,403
BP shareholders’ equity			$ 65,454	$ 51,008
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.
[3]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Investments in associates - S_3

Investments in associates - Summary of transactions between the group and its associates (Details) - Associates - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of associates [line items]
Sales to related parties	$ 1,544	$ 2,064	$ 1,612
Related party receivable	243	393	216
Purchases of goods, related party	9,503	14,112	11,613
Related party payables	$ 1,641	$ 2,069	$ 1,681

Other investments - Schedule of

Other investments - Schedule of other investments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of financial assets [line items]
Other current investments	$ 169	$ 222	[1]
Other non-current investments	1,276	1,341	[1]
Contingent consideration receivable relating to disposals	598	893		$ 237
Level 3
Disclosure of financial assets [line items]
Contingent consideration receivable relating to disposals	598	893
Other investments
Disclosure of financial assets [line items]
Other current investments	0	1
Other non-current investments	571	482
Other
Disclosure of financial assets [line items]
Other current investments	169	221
Other non-current investments	$ 705	$ 859
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Inventories - Schedule of inven

Inventories - Schedule of inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Inventories [Abstract]
Crude oil	$ 5,610	$ 4,878
Natural gas	222	322
Refined petroleum and petrochemical products	12,907	10,419
Total current inventories	18,739	15,619
Trading inventories	182	282
Current inventories arising from extractive activities and current production supplies	18,921	15,901
Supplies	1,959	2,087
Total current inventories	20,880	17,988	[1]
Cost of inventories expensed in the income statement	$ 209,672	$ 229,878		$ 179,716
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets [line items]
Write down provision to net realizable value	$ 650	$ 1,009
Net charge to income statement	(348)	552
Hydrocarbon Inventories
Disclosure of financial assets [line items]
Write down provision to net realizable value	290	604
Net charge to income statement	$ 309	$ 553

Trade and other receivables - S

Trade and other receivables - Summary of trade and other receivables (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Current
Current trade receivables	$ 19,424		$ 19,414
Current receivables due from related parties	672		642
Other current receivables	3,325		3,275
Trade and other current receivables financial assets	23,421		23,331
Non-current
Non-current trade receivables	22		7
Non-current receivables due from related parties	2		2
Other non-current receivables	826		740
Trade and other non-current receivables financial assets	850		749
Current
Current portion of reimbursement asset	201		214
Current portion of sales taxes and production taxes	640		790
Other current receivables non-financial asset	180		143
Trade and other current receivables non-financial assets	1,021		1,147
Non-current
Non-current portion of reimbursement asset	0		0
Non-current portion of sales taxes and production taxes	538		482
Other non-current receivables non-finance asset	759		603
Trade and other non-current receivables non-financial assets	1,297		1,085
Trade and other current receivables	24,442	$ 24,673	24,478	[1]
Trade and other non-current receivables	$ 2,147	$ 2,159	$ 1,834	[1]
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Valuation and qualifying acco_3

Valuation and qualifying accounts - Schedule of valuation and qualifying accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Changes in other provisions [abstract]
Allowance account for cash and cash equivalents	$ 11	$ 11
Not credit-impaired
Changes in other provisions [abstract]
Deductions	95	89
Credit impaired
Changes in other provisions [abstract]
Valuation allowances and reserves, beginning of period	327
Valuation allowances and reserves, end of period	414	327
Trade and other receivables
Changes in other provisions [abstract]
Valuation allowances and reserves, beginning of period	416	335	$ 392
Adjustment on adoption of IFRS 9				$ 115
Charged to costs and expenses	206	30	68
Exchange adjustments	(2)	(12)	13
Deductions	(111)	(52)	(138)
Valuation allowances and reserves, end of period	509	416	335
Fixed asset investments
Changes in other provisions [abstract]
Valuation allowances and reserves, beginning of period	235	314	335
Adjustment on adoption of IFRS 9				$ (85)
Charged to costs and expenses	28	10	47
Exchange adjustments	0	(1)	3
Deductions	(14)	(3)	(71)
Valuation allowances and reserves, end of period	249	235	$ 314
Allowance account for credit losses relating to loans	$ 2	$ 44

Trade and other payables - Sche

Trade and other payables - Schedule of trade and other payables (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Current
Current trade payables	$ 30,538		$ 26,252
Current payables to related parties	1,866		2,369
Current payables for capital expenditure and acquisitions	3,868		7,325
Current payables related to the Gulf of Mexico oil spill	1,617		2,279
Other current payables	5,810		4,980
Trade and other current payables financial liabilities	43,699		43,205
Non-current
Non-current trade payables	0		0
Non-current payables to related parties	0		0
Non-current payables for capital expenditure and acquisitionsa	1,196		1,345
Non-current payables related to the Gulf of Mexico oil spill	10,863		11,922
Other non-current payables	133		318
Trade and other noncurrent payables financial liabilities	12,192		13,585
Current
Current sales taxes, customs duties, production taxes and social security	2,381		2,272
Other current payables non-financial liabilities	749		788
Trade and other current payables non-financial liabilities	3,130		3,060
Trade and other current payables	46,829	$ 46,209	46,265	[1]
Non-current
Non-current sales taxes, customs duties, production taxes and social security	33		35
Other non-current payables non-financial liabilities	401		210
Trade and other non-current payables non-financial liabilities	434		245
Trade and other non-current payables	$ 12,626	$ 14,013	13,830	[1]
Petrohawk Energy Corporation
Non-current
Deferred cash consideration			$ 3,514
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Trade and other payables - Narr

Trade and other payables - Narrative (Details) - Gulf of Mexico Oil Spill $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)state	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of financial liabilities [line items]
Number of gulf coast states approved by the federal district court included in the agreements (state) | state	5
Cash Flows From (Used In) Operating Activities, Before Tax	$ 2,694	$ (3,531)	$ 5,336
Natural Resource Damages
Disclosure of financial liabilities [line items]
Other payables	5,166
State Claims
Disclosure of financial liabilities [line items]
Other payables	2,742
Clean Water Act Penalties
Disclosure of financial liabilities [line items]
Other payables	$ 3,782

Provisions - Schedule of provis

Provisions - Schedule of provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018		Jan. 01, 2019
Disclosure of other provisions [line items]
Effect Of Adjustment For Adoption Of New IFRS On Provisions	$ 92
Reconciliation of changes in other provisions [abstract]
Exchange adjustments	54
Acquisitions	82
Increase (decrease) in existing provisions	2,567
Write-back of unused provisions	(441)
Unwinding of discount	505
Change in discount rate	1,442
Utilization	(1,600)
Reclassified to other payables	(654)
Reclassified as liabilities directly associated with assets held for sale	(1,012)
Deletions	(196)
Ending balance, provisions	20,951
Current provisions	2,453	$ 2,564	[1]	$ 2,547
Non-current provisions	18,498	17,732	[1]	$ 17,657
Gulf of Mexico Oil Spill
Reconciliation of changes in other provisions [abstract]
Ending balance, provisions	189
Decommissioning
Reconciliation of changes in other provisions [abstract]
Beginning balance, provisions	13,613
Exchange adjustments	74
Acquisitions	13
Increase (decrease) in existing provisions	1,045
Write-back of unused provisions	(22)
Unwinding of discount	415
Change in discount rate	1,360
Utilization	(9)
Reclassified to other payables	(187)
Reclassified as liabilities directly associated with assets held for sale	(1,004)
Deletions	(188)
Ending balance, provisions	15,110	13,613
Current provisions	317
Non-current provisions	14,793
Decommissioning | Gulf of Mexico Oil Spill
Reconciliation of changes in other provisions [abstract]
Ending balance, provisions	0
Environmental
Reconciliation of changes in other provisions [abstract]
Beginning balance, provisions	1,567
Exchange adjustments	(1)
Acquisitions	0
Increase (decrease) in existing provisions	272
Write-back of unused provisions	(43)
Unwinding of discount	45
Change in discount rate	40
Utilization	(252)
Reclassified to other payables	0
Reclassified as liabilities directly associated with assets held for sale	(8)
Deletions	0
Ending balance, provisions	1,620	1,567
Current provisions	280
Non-current provisions	1,340
Environmental | Gulf of Mexico Oil Spill
Reconciliation of changes in other provisions [abstract]
Ending balance, provisions	0
Litigation and claims
Reconciliation of changes in other provisions [abstract]
Beginning balance, provisions	1,718
Exchange adjustments	0
Acquisitions	47
Increase (decrease) in existing provisions	290
Write-back of unused provisions	(15)
Unwinding of discount	28
Change in discount rate	31
Utilization	(674)
Reclassified to other payables	(139)
Reclassified as liabilities directly associated with assets held for sale	0
Deletions	(5)
Ending balance, provisions	1,281	1,718
Current provisions	558
Non-current provisions	723
Litigation and claims | Gulf of Mexico Oil Spill
Reconciliation of changes in other provisions [abstract]
Ending balance, provisions	189
Other
Reconciliation of changes in other provisions [abstract]
Beginning balance, provisions	3,306
Exchange adjustments	(19)
Acquisitions	22
Increase (decrease) in existing provisions	960
Write-back of unused provisions	(361)
Unwinding of discount	17
Change in discount rate	11
Utilization	(665)
Reclassified to other payables	(328)
Reclassified as liabilities directly associated with assets held for sale	0
Deletions	(3)
Ending balance, provisions	2,940	$ 3,306
Current provisions	1,298
Non-current provisions	1,642
Other | Gulf of Mexico Oil Spill
Reconciliation of changes in other provisions [abstract]
Ending balance, provisions	$ 0
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Provisions - Narrative (Details

Provisions - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Other
Disclosure of other provisions [line items]
Provisions for deferred employee compensation	$ 311	$ 338

Pensions and other post-retir_3

Pensions and other post-retirement benefits - Narrative (Details) $ in Millions	Jan. 01, 2020employee	Dec. 31, 2019USD ($)employeedirectorchairman	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of defined benefit plans [line items]
Percentage of allowance for promotion-related salary growth (up to)		0.80%
Funded
Disclosure of defined benefit plans [line items]
Aggregate contributions		$ 349	$ 610	$ 637
Expected aggregate contributions		$ 550
United Kingdom
Disclosure of defined benefit plans [line items]
Number of member-nominated directors in trustee board (director) | director		4
Number of company-nominated directors In trustee board (director) | director		4
Number of company-nominated independent directors in trustee board (director) | director		1
Number of company-nominated independent chairman in trustee board (chairman) | chairman		1
Contribution coverage period		5 years
Contractually committed funding for future services		$ 1,276
Percentage of plan asset transfers from equity to bonds investment instrument		2.00%	12.50%
United Kingdom | Government issued nominal bondsd
Disclosure of defined benefit plans [line items]
Government issued nominal bonds under liability driven investments LDI		$ 4,804	$ 4,197
United Kingdom | Government issued index-linked bondsd
Disclosure of defined benefit plans [line items]
Index linked bonds under liability driven investments		$ 19,462	$ 17,491
US
Disclosure of defined benefit plans [line items]
Number of companies employees serving as investment committee members (employee) | employee	7	6
Percentage of plan asset transfers from equity to bonds investment instrument		0.00%	10.00%

Pensions and other post-retir_4

Pensions and other post-retirement benefits - Details of assumptions used to estimate benefit obligations (Details)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
United Kingdom
Disclosure of defined benefit plans [line items]
Discount rate for plan liabilities	2.10%	2.90%	2.50%
Rate of increase in salaries	3.40%	3.80%	4.10%
Rate of increase for pensions in payment	2.70%	3.00%	2.90%
Rate of increase in deferred pensions	2.70%	3.00%	2.90%
Inflation for plan liabilities	2.70%	3.10%	3.10%
Discount rate for plan service cost	3.00%	2.60%	2.70%
Discount rate for plan other finance expense	2.90%	2.50%	2.70%
Inflation for plan service cost	3.10%	3.10%	3.20%
US
Disclosure of defined benefit plans [line items]
Discount rate for plan liabilities	3.10%	4.10%	3.50%
Rate of increase in salaries	3.90%	3.90%	4.10%
Rate of increase for pensions in payment	0.00%	0.00%	0.00%
Rate of increase in deferred pensions	0.00%	0.00%	0.00%
Inflation for plan liabilities	1.50%	1.50%	1.70%
Discount rate for plan service cost	4.20%	3.60%	4.10%
Discount rate for plan other finance expense	4.10%	3.50%	3.90%
Inflation for plan service cost	1.50%	1.70%	1.80%
Eurozone
Disclosure of defined benefit plans [line items]
Discount rate for plan liabilities	1.30%	2.00%	1.90%
Rate of increase in salaries	3.10%	3.10%	3.00%
Rate of increase for pensions in payment	1.50%	1.50%	1.40%
Rate of increase in deferred pensions	0.50%	0.50%	0.60%
Inflation for plan liabilities	1.70%	1.70%	1.60%
Discount rate for plan service cost	2.50%	2.40%	2.10%
Discount rate for plan other finance expense	2.00%	1.90%	1.70%
Inflation for plan service cost	1.70%	1.60%	1.60%

Pensions and other post-retir_5

Pensions and other post-retirement benefits - Summary of mortality assumptions (Details)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Life expectancy at age 60 for a male currently aged 60 | United Kingdom
Disclosure of defined benefit plans [line items]
Mortality assumptions	27.3	27.4	27.4
Life expectancy at age 60 for a male currently aged 60 | US
Disclosure of defined benefit plans [line items]
Mortality assumptions	24.9	25.1	25.1
Life expectancy at age 60 for a male currently aged 60 | Eurozone
Disclosure of defined benefit plans [line items]
Mortality assumptions	25.7	25.6	25.1
Life expectancy at age 60 for a male currently aged 40 | United Kingdom
Disclosure of defined benefit plans [line items]
Mortality assumptions	28.9	28.9	29
Life expectancy at age 60 for a male currently aged 40 | US
Disclosure of defined benefit plans [line items]
Mortality assumptions	26.7	26.9	26.8
Life expectancy at age 60 for a male currently aged 40 | Eurozone
Disclosure of defined benefit plans [line items]
Mortality assumptions	28.3	28.1	27.6
Life expectancy at age 60 for a female currently aged 60 | United Kingdom
Disclosure of defined benefit plans [line items]
Mortality assumptions	28.7	28.8	28.8
Life expectancy at age 60 for a female currently aged 60 | US
Disclosure of defined benefit plans [line items]
Mortality assumptions	28	28.5	28.4
Life expectancy at age 60 for a female currently aged 60 | Eurozone
Disclosure of defined benefit plans [line items]
Mortality assumptions	29.1	29	29
Life expectancy at age 60 for a female currently aged 40 | United Kingdom
Disclosure of defined benefit plans [line items]
Mortality assumptions	30.5	30.6	30.5
Life expectancy at age 60 for a female currently aged 40 | US
Disclosure of defined benefit plans [line items]
Mortality assumptions	29.7	30.1	30
Life expectancy at age 60 for a female currently aged 40 | Eurozone
Disclosure of defined benefit plans [line items]
Mortality assumptions	31.2	31.2	31.4

Pensions and other post-retir_6

Pensions and other post-retirement benefits - Current asset allocation (Details)	Dec. 31, 2019
United Kingdom
Disclosure of fair value of plan assets [line items]
Total equity (including private equity)	28.00%
Bonds/cash (including LDI)	65.00%
Property/real estate	7.00%
US
Disclosure of fair value of plan assets [line items]
Total equity (including private equity)	40.00%
Bonds/cash (including LDI)	60.00%
Property/real estate	0.00%

Pensions and other post-retir_7

Pensions and other post-retirement benefits - Fair value of assets held by the defined benefit plans (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of fair value of plan assets [line items]
Property	$ 2,630	$ 2,399	$ 2,318
Cash	841	574	589
Other	228	252	225
Debt (repurchase agreements) used to fund liability driven investments	(7,436)	(6,011)	(5,583)
Asset recognized	47,539	42,682	46,513
Listed equities – developed markets
Disclosure of fair value of plan assets [line items]
Equity	8,441	7,148	12,619
Listed equities – emerging markets
Disclosure of fair value of plan assets [line items]
Equity	1,345	1,134	2,576
Private equity
Disclosure of fair value of plan assets [line items]
Equity	4,152	4,291	4,140
Government issued nominal bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	8,515	7,763	5,926
Government issued index-linked bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	19,562	17,593	16,179
Corporate bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	9,261	7,539	7,524
United Kingdom
Disclosure of fair value of plan assets [line items]
Property	2,507	2,311	2,211
Cash	426	376	390
Other	98	116	104
Debt (repurchase agreements) used to fund liability driven investments	(7,436)	(6,011)	(5,583)
Asset recognized	36,129	32,085	35,091
United Kingdom | Listed equities – developed markets
Disclosure of fair value of plan assets [line items]
Equity	6,285	5,191	9,548
United Kingdom | Listed equities – emerging markets
Disclosure of fair value of plan assets [line items]
Equity	1,096	950	2,220
United Kingdom | Private equity
Disclosure of fair value of plan assets [line items]
Equity	2,675	2,792	2,679
United Kingdom | Government issued nominal bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	4,884	4,263	2,663
United Kingdom | Government issued index-linked bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	19,462	17,491	16,177
United Kingdom | Corporate bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	6,132	4,606	4,682
US
Disclosure of fair value of plan assets [line items]
Property	0	6	6
Cash	289	73	80
Other	74	64	53
Debt (repurchase agreements) used to fund liability driven investments	0	0	0
Asset recognized	7,655	7,195	7,779
US | Listed equities – developed markets
Disclosure of fair value of plan assets [line items]
Equity	1,290	1,238	2,158
US | Listed equities – emerging markets
Disclosure of fair value of plan assets [line items]
Equity	124	63	220
US | Private equity
Disclosure of fair value of plan assets [line items]
Equity	1,474	1,495	1,461
US | Government issued nominal bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	2,100	2,072	1,777
US | Government issued index-linked bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	0	0	0
US | Corporate bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	2,304	2,184	2,024
Eurozone
Disclosure of fair value of plan assets [line items]
Property	96	57	71
Cash	33	42	21
Other	30	32	23
Debt (repurchase agreements) used to fund liability driven investments	0	0	0
Asset recognized	2,343	2,112	2,224
Eurozone | Listed equities – developed markets
Disclosure of fair value of plan assets [line items]
Equity	495	413	537
Eurozone | Listed equities – emerging markets
Disclosure of fair value of plan assets [line items]
Equity	61	65	83
Eurozone | Private equity
Disclosure of fair value of plan assets [line items]
Equity	0	0	0
Eurozone | Government issued nominal bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	959	895	941
Eurozone | Government issued index-linked bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	100	102	2
Eurozone | Corporate bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	569	506	546
Other
Disclosure of fair value of plan assets [line items]
Property	27	25	30
Cash	93	83	98
Other	26	40	45
Debt (repurchase agreements) used to fund liability driven investments	0	0	0
Asset recognized	1,412	1,290	1,419
Other | Listed equities – developed markets
Disclosure of fair value of plan assets [line items]
Equity	371	306	376
Other | Listed equities – emerging markets
Disclosure of fair value of plan assets [line items]
Equity	64	56	53
Other | Private equity
Disclosure of fair value of plan assets [line items]
Equity	3	4	0
Other | Government issued nominal bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	572	533	545
Other | Government issued index-linked bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	0	0	0
Other | Corporate bondsd
Disclosure of fair value of plan assets [line items]
Debt instruments	$ 256	$ 243	$ 272

Pensions and other post-retir_8

Pensions and other post-retirement benefits - Analysis of the amounts charged to profit (loss), recognized in other comprehensive income, and movement in obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Analysis of the amount charged to profit or loss
Current service cost	$ 609	$ 721	$ 780
Past service cost	6	28	16
Other finance (income) expense	63	127	220
Analysis of the amount recognized in other comprehensive income
Actual asset return less interest income on plan assets	4,341	(1,083)	3,295
Change in financial assumptions underlying the present value of the plan liabilities	(4,170)	2,794	(461)
Actuarial gains (losses) arising from changes in demographic assumptions, net defined benefit liability (asset)	226	79	783
Remeasurements recognized in other comprehensive income (liabilities) assets	328	2,317	3,646
Movements in benefit obligation and fair value of plan assets during the year
Interest income on plan assets	(1,283)	(1,219)	(1,196)
Operating charge relating to defined benefit plans	(610)	(766)	(809)
Interest cost	1,346	1,346	1,416
Remeasurements recognized in other comprehensive income (liabilities) assets	328	2,317	3,646
Post-employment benefit expense, defined contribution plans	275	261	267
Surplus (deficit) at 31 December				$ (1,539)	$ (2,436)
Surplus (deficit) in plan, asset recognized				7,053	5,955
Surplus (deficit) in plan, liability recognized				(8,592)	(8,391)
Gains (losses) arising from settlements, net defined benefit liability (asset)	(5)	17	13
Employee Benefit, Expense	885	1,027	1,076
Actuarial gains (losses) arising from experience adjustments, net defined benefit liability (asset)	(69)	527	29
Funded
Movements in benefit obligation and fair value of plan assets during the year
Contributions by employers (funded plans)	349	610	637
Surplus (deficit) at 31 December				6,752	5,620
Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(8,291)	(8,056)
Accrued benefit obligation
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	(4,013)	3,400
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(45,118)	(51,481)
Exchange adjustments (liabilities) assets	826	(2,005)
Operating charge relating to defined benefit plans	610	766
Interest cost	1,346	1,346
Contributions by plan participants (liabilities) assets	(28)	(30)
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	(146)
Disposals of (benefit obligations) and fair value of plan asset	30	(14)
Remeasurements recognized in other comprehensive income (liabilities) assets	(4,013)	3,400
Net defined benefit liability (asset), end of period	(49,078)	(45,118)	(51,481)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(49,078)	(45,118)	(51,481)	(49,078)	(45,118)
Settlement payments in respect of net defined benefit liabilities (assets)	2,304	3,046
Payments in respect of settlements, net defined benefit liability (asset)	346	2
Expenses incurred for administration of the benefits	37	38
Accrued benefit obligation | Funded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(37,062)
Benefit payments (liabilities) assets	(2,188)	(2,544)
Net defined benefit liability (asset), end of period	(40,787)	(37,062)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(40,787)	(37,062)		(40,787)	(37,062)
Accrued benefit obligation | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(8,056)
Benefit payments (liabilities) assets	(499)	(542)
Net defined benefit liability (asset), end of period	(8,291)	(8,056)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(8,291)	(8,056)		(8,291)	(8,056)
Fair value of plan assets
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	4,341	(1,083)
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	42,682	46,513
Exchange adjustments (liabilities) assets	(1,122)	2,049
Interest income on plan assets	(1,283)	(1,219)
Contributions by plan participants (liabilities) assets	28	30
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	(78)
Disposals of (benefit obligations) and fair value of plan asset		14
Remeasurements recognized in other comprehensive income (liabilities) assets	4,341	(1,083)
Net defined benefit liability (asset), end of period	47,539	42,682	46,513
Surplus (deficit) at 31 December				(1,539)	(2,436)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	47,539	42,682	46,513	47,539	42,682
Fair value of plan assets | Funded
Movements in benefit obligation and fair value of plan assets during the year
Contributions by employers (funded plans)	349	610
Benefit payments (liabilities) assets	2,188	2,544
United Kingdom
Analysis of the amount charged to profit or loss
Current service cost	227	295	357
Past service cost	2	15	12
Other finance (income) expense	(152)	(94)	(14)
Analysis of the amount recognized in other comprehensive income
Actual asset return less interest income on plan assets	2,945	(722)	2,396
Change in financial assumptions underlying the present value of the plan liabilities	(2,294)	1,770	(236)
Actuarial gains (losses) arising from changes in demographic assumptions, net defined benefit liability (asset)	136	123	734
Remeasurements recognized in other comprehensive income (liabilities) assets	730	1,691	2,985
Movements in benefit obligation and fair value of plan assets during the year
Interest income on plan assets	(909)	(868)	(845)
Operating charge relating to defined benefit plans	(229)	(310)	(369)
Interest cost	757	774	831
Remeasurements recognized in other comprehensive income (liabilities) assets	730	1,691	2,985
Post-employment benefit expense, defined contribution plans	42	38	31
Surplus (deficit) at 31 December				6,349	5,255
Surplus (deficit) in plan, asset recognized				6,588	5,473
Surplus (deficit) in plan, liability recognized				(239)	(218)
Gains (losses) arising from settlements, net defined benefit liability (asset)	0	0	0
Employee Benefit, Expense	271	348	400
Actuarial gains (losses) arising from experience adjustments, net defined benefit liability (asset)	(57)	520	91
United Kingdom | Funded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				6,588	5,473
United Kingdom | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(239)	(218)
United Kingdom | Accrued benefit obligation
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	(2,215)	2,413
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(26,830)	(31,513)
Exchange adjustments (liabilities) assets	942	(1,589)
Operating charge relating to defined benefit plans	229	310
Interest cost	757	774
Contributions by plan participants (liabilities) assets	(20)	(21)
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	0
Disposals of (benefit obligations) and fair value of plan asset	0	0
Remeasurements recognized in other comprehensive income (liabilities) assets	(2,215)	2,413
Net defined benefit liability (asset), end of period	(29,780)	(26,830)	(31,513)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(29,780)	(26,830)	(31,513)	(29,780)	(26,830)
United Kingdom | Accrued benefit obligation | Funded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(26,612)
Benefit payments (liabilities) assets	(1,207)	(1,780)
Net defined benefit liability (asset), end of period	(29,541)	(26,612)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(29,541)	(26,612)		(29,541)	(26,612)
United Kingdom | Accrued benefit obligation | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(218)
Benefit payments (liabilities) assets	(6)	(6)
Net defined benefit liability (asset), end of period	(239)	(218)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(239)	(218)		(239)	(218)
United Kingdom | Fair value of plan assets
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	2,945	(722)
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	32,085	35,091
Exchange adjustments (liabilities) assets	(1,141)	1,883
Interest income on plan assets	(909)	(868)
Contributions by plan participants (liabilities) assets	20	21
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	0
Disposals of (benefit obligations) and fair value of plan asset		0
Remeasurements recognized in other comprehensive income (liabilities) assets	2,945	(722)
Net defined benefit liability (asset), end of period	36,129	32,085	35,091
Surplus (deficit) at 31 December				6,349	5,255
The defined benefit obligation may be analysed between funded and unfunded plans as follows	36,129	32,085	35,091	36,129	32,085
United Kingdom | Fair value of plan assets | Funded
Movements in benefit obligation and fair value of plan assets during the year
Contributions by employers (funded plans)	236	490
Benefit payments (liabilities) assets	1,207	1,780
US
Analysis of the amount charged to profit or loss
Current service cost	263	299	292
Past service cost	0	0	0
Other finance (income) expense	102	107	127
Analysis of the amount recognized in other comprehensive income
Actual asset return less interest income on plan assets	1,079	(256)	826
Change in financial assumptions underlying the present value of the plan liabilities	(1,036)	945	(514)
Actuarial gains (losses) arising from changes in demographic assumptions, net defined benefit liability (asset)	91	(9)	72
Remeasurements recognized in other comprehensive income (liabilities) assets	112	721	344
Movements in benefit obligation and fair value of plan assets during the year
Interest income on plan assets	(285)	(262)	(266)
Operating charge relating to defined benefit plans	(250)	(299)	(292)
Interest cost	387	369	393
Remeasurements recognized in other comprehensive income (liabilities) assets	112	721	344
Post-employment benefit expense, defined contribution plans	188	178	191
Surplus (deficit) at 31 December				(2,464)	(2,501)
Surplus (deficit) in plan, asset recognized				387	418
Surplus (deficit) in plan, liability recognized				(2,851)	(2,919)
Gains (losses) arising from settlements, net defined benefit liability (asset)	(13)	0	0
Employee Benefit, Expense	438	477	483
Actuarial gains (losses) arising from experience adjustments, net defined benefit liability (asset)	(22)	41	(40)
US | Funded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				387	396
US | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(2,851)	(2,897)
US | Accrued benefit obligation
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	(967)	977
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(9,696)	(10,820)
Exchange adjustments (liabilities) assets	0	0
Operating charge relating to defined benefit plans	250	299
Interest cost	387	369
Contributions by plan participants (liabilities) assets	0	0
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	(146)
Disposals of (benefit obligations) and fair value of plan asset	0	0
Remeasurements recognized in other comprehensive income (liabilities) assets	(967)	977
Net defined benefit liability (asset), end of period	(10,119)	(9,696)	(10,820)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(10,119)	(9,696)	(10,820)	(10,119)	(9,696)
US | Accrued benefit obligation | Pension plans defined benefit
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(7,290)
Net defined benefit liability (asset), end of period	(7,789)	(7,290)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(7,789)	(7,290)		(7,789)	(7,290)
US | Accrued benefit obligation | Postemployment retirement benefits
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(2,406)
Net defined benefit liability (asset), end of period	(2,330)	(2,406)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(2,330)	(2,406)		(2,330)	(2,406)
US | Accrued benefit obligation | Funded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(6,799)
Benefit payments (liabilities) assets	(830)	(597)
Net defined benefit liability (asset), end of period	(7,268)	(6,799)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(7,268)	(6,799)		(7,268)	(6,799)
US | Accrued benefit obligation | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(2,897)
Benefit payments (liabilities) assets	(205)	(218)
Net defined benefit liability (asset), end of period	(2,851)	(2,897)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(2,851)	(2,897)		(2,851)	(2,897)
US | Fair value of plan assets
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	1,079	(256)
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	7,195	7,779
Exchange adjustments (liabilities) assets	0	0
Interest income on plan assets	(285)	(262)
Contributions by plan participants (liabilities) assets	0	0
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	(78)
Disposals of (benefit obligations) and fair value of plan asset		0
Remeasurements recognized in other comprehensive income (liabilities) assets	1,079	(256)
Net defined benefit liability (asset), end of period	7,655	7,195	7,779
Surplus (deficit) at 31 December				(2,464)	(2,501)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	7,655	7,195	7,779	7,655	7,195
US | Fair value of plan assets | Funded
Movements in benefit obligation and fair value of plan assets during the year
Contributions by employers (funded plans)	4	7
Benefit payments (liabilities) assets	830	597
Eurozone
Analysis of the amount charged to profit or loss
Current service cost	81	84	85
Past service cost	5	9	5
Other finance (income) expense	90	92	84
Analysis of the amount recognized in other comprehensive income
Actual asset return less interest income on plan assets	220	(69)	30
Change in financial assumptions underlying the present value of the plan liabilities	(748)	14	336
Actuarial gains (losses) arising from changes in demographic assumptions, net defined benefit liability (asset)	3	(42)	0
Remeasurements recognized in other comprehensive income (liabilities) assets	(519)	(140)	330
Movements in benefit obligation and fair value of plan assets during the year
Interest income on plan assets	(43)	(44)	(37)
Operating charge relating to defined benefit plans	(94)	(110)	(103)
Interest cost	133	136	121
Remeasurements recognized in other comprehensive income (liabilities) assets	(519)	(140)	330
Post-employment benefit expense, defined contribution plans	7	5	7
Surplus (deficit) at 31 December				(5,010)	(4,794)
Surplus (deficit) in plan, asset recognized				27	29
Surplus (deficit) in plan, liability recognized				(5,037)	(4,823)
Gains (losses) arising from settlements, net defined benefit liability (asset)	8	17	13
Employee Benefit, Expense	101	115	110
Actuarial gains (losses) arising from experience adjustments, net defined benefit liability (asset)	6	(43)	(36)
Eurozone | Funded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(136)	(152)
Eurozone | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(4,874)	(4,642)
Eurozone | Accrued benefit obligation
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	(739)	(71)
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(6,906)	(7,275)
Exchange adjustments (liabilities) assets	(142)	(303)
Operating charge relating to defined benefit plans	94	110
Interest cost	133	136
Contributions by plan participants (liabilities) assets	(2)	(2)
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	0
Disposals of (benefit obligations) and fair value of plan asset	30	0
Remeasurements recognized in other comprehensive income (liabilities) assets	(739)	(71)
Net defined benefit liability (asset), end of period	(7,353)	(6,906)	(7,275)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(7,353)	(6,906)	(7,275)	(7,353)	(6,906)
Eurozone | Accrued benefit obligation | Funded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(2,264)
Benefit payments (liabilities) assets	(76)	(84)
Net defined benefit liability (asset), end of period	(2,479)	(2,264)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(2,479)	(2,264)		(2,479)	(2,264)
Eurozone | Accrued benefit obligation | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(4,642)
Benefit payments (liabilities) assets	(273)	(301)
Net defined benefit liability (asset), end of period	(4,874)	(4,642)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(4,874)	(4,642)		(4,874)	(4,642)
Eurozone | Fair value of plan assets
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	220	(69)
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	2,112	2,224
Exchange adjustments (liabilities) assets	43	93
Interest income on plan assets	(43)	(44)
Contributions by plan participants (liabilities) assets	2	2
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	0
Disposals of (benefit obligations) and fair value of plan asset		0
Remeasurements recognized in other comprehensive income (liabilities) assets	220	(69)
Net defined benefit liability (asset), end of period	2,343	2,112	2,224
Surplus (deficit) at 31 December				(5,010)	(4,794)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	2,343	2,112	2,224	2,343	2,112
Eurozone | Fair value of plan assets | Funded
Movements in benefit obligation and fair value of plan assets during the year
Contributions by employers (funded plans)	85	88
Benefit payments (liabilities) assets	76	84
Other
Analysis of the amount charged to profit or loss
Current service cost	38	43	46
Past service cost	(1)	4	(1)
Other finance (income) expense	23	22	23
Analysis of the amount recognized in other comprehensive income
Actual asset return less interest income on plan assets	97	(36)	43
Change in financial assumptions underlying the present value of the plan liabilities	(92)	65	(47)
Actuarial gains (losses) arising from changes in demographic assumptions, net defined benefit liability (asset)	(4)	7	(23)
Remeasurements recognized in other comprehensive income (liabilities) assets	5	45	(13)
Movements in benefit obligation and fair value of plan assets during the year
Interest income on plan assets	(46)	(45)	(48)
Operating charge relating to defined benefit plans	(37)	(47)	(45)
Interest cost	69	67	71
Remeasurements recognized in other comprehensive income (liabilities) assets	5	45	(13)
Post-employment benefit expense, defined contribution plans	38	40	38
Surplus (deficit) at 31 December				(414)	(396)
Surplus (deficit) in plan, asset recognized				51	35
Surplus (deficit) in plan, liability recognized				(465)	(431)
Gains (losses) arising from settlements, net defined benefit liability (asset)	0	0	0
Employee Benefit, Expense	75	87	83
Actuarial gains (losses) arising from experience adjustments, net defined benefit liability (asset)	4	9	14
Other | Funded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(87)	(97)
Other | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Surplus (deficit) at 31 December				(327)	(299)
Other | Accrued benefit obligation
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	(92)	81
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(1,686)	(1,873)
Exchange adjustments (liabilities) assets	26	(113)
Operating charge relating to defined benefit plans	37	47
Interest cost	69	67
Contributions by plan participants (liabilities) assets	(6)	(7)
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	0
Disposals of (benefit obligations) and fair value of plan asset	0	(14)
Remeasurements recognized in other comprehensive income (liabilities) assets	(92)	81
Net defined benefit liability (asset), end of period	(1,826)	(1,686)	(1,873)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(1,826)	(1,686)	(1,873)	(1,826)	(1,686)
Other | Accrued benefit obligation | Funded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(1,387)
Benefit payments (liabilities) assets	(75)	(83)
Net defined benefit liability (asset), end of period	(1,499)	(1,387)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(1,499)	(1,387)		(1,499)	(1,387)
Other | Accrued benefit obligation | Unfunded
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(299)
Benefit payments (liabilities) assets	(15)	(17)
Net defined benefit liability (asset), end of period	(327)	(299)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	(327)	(299)		(327)	(299)
Other | Fair value of plan assets
Analysis of the amount recognized in other comprehensive income
Remeasurements recognized in other comprehensive income (liabilities) assets	97	(36)
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	1,290	1,419
Exchange adjustments (liabilities) assets	(24)	73
Interest income on plan assets	(46)	(45)
Contributions by plan participants (liabilities) assets	6	7
Decrease Through Reclassification to Assets Held For Sale, Net Defined Benefit Liability (Asset)	0
Disposals of (benefit obligations) and fair value of plan asset		14
Remeasurements recognized in other comprehensive income (liabilities) assets	97	(36)
Net defined benefit liability (asset), end of period	1,412	1,290	1,419
Surplus (deficit) at 31 December				(414)	(396)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	1,412	1,290	$ 1,419	1,412	1,290
Other | Fair value of plan assets | Funded
Movements in benefit obligation and fair value of plan assets during the year
Contributions by employers (funded plans)	24	25
Benefit payments (liabilities) assets	75	83
Germany | Accrued benefit obligation
Movements in benefit obligation and fair value of plan assets during the year
Net defined benefit liability (asset), beginning of period	(4,328)
Net defined benefit liability (asset), end of period	(4,567)	(4,328)
The defined benefit obligation may be analysed between funded and unfunded plans as follows	$ (4,567)	$ (4,328)		$ (4,567)	$ (4,328)

Pensions and other post-retir_9

Pensions and other post-retirement benefits - Sensitivity analysis and actuarial assumptions (Details) $ in Millions	Dec. 31, 2019USD ($)
United Kingdom | Discount rate
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	$ (274)
Effect on pension and other post-retirement benefit expense in 2020, Decrease	227
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	(4,729)
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	6,364
United Kingdom | Inflation rate
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	171
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(134)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	4,711
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	(3,890)
United Kingdom | Salary growth
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	42
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(36)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	604
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	(525)
US | Discount rate
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	(66)
Effect on pension and other post-retirement benefit expense in 2020, Decrease	58
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	(1,191)
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	1,478
US | Inflation rate
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	11
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(9)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	67
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	(54)
US | Salary growth
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	13
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(11)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	80
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	(67)
Eurozone | Discount rate
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	(1)
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(11)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	(1,060)
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	1,347
Eurozone | Inflation rate
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	35
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(27)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	978
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	(824)
Eurozone | Salary growth
Disclosure of defined benefit plans [line items]
Effect on pension and other post-retirement benefit expense in 2020, Increase	7
Effect on pension and other post-retirement benefit expense in 2020, Decrease	(7)
Effect on pension and other post-retirement benefit obligation at 31, December 2019, Increase	93
Effect on pension and other post-retirement benefit obligation at 31 December 2019, Decrease	$ (89)

Pensions and other post-reti_10

Pensions and other post-retirement benefits - Effect of longevity on expenses and obligations (Details) - Actuarial assumption of mortality rates [member] $ in Millions	Dec. 31, 2019USD ($)
United Kingdom
Disclosure of defined benefit plans [line items]
Increase (Decrease) In Defined Benefit Plan Expense Due To Reasonably Possible Increase In Actuarial Assumption	$ 31
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	1,140
US
Disclosure of defined benefit plans [line items]
Increase (Decrease) In Defined Benefit Plan Expense Due To Reasonably Possible Increase In Actuarial Assumption	6
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	147
Eurozone
Disclosure of defined benefit plans [line items]
Increase (Decrease) In Defined Benefit Plan Expense Due To Reasonably Possible Increase In Actuarial Assumption	9
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 306

Pensions and other post-reti_11

Pensions and other post-retirement benefits - Expected future benefit payments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)year
Disclosure of defined benefit plans [line items]
2020	$ 2,245
Expected Future Benefit Payment, Year Two	2,288
Expected Future Benefit Payment, Year Three	2,229
Expected Future Benefit Payment, Year Four	2,268
Expected Future Benefit Payment, Year Five	2,249
2025-2029	11,099
United Kingdom
Disclosure of defined benefit plans [line items]
2020	1,065
Expected Future Benefit Payment, Year Two	1,078
Expected Future Benefit Payment, Year Three	1,098
Expected Future Benefit Payment, Year Four	1,138
Expected Future Benefit Payment, Year Five	1,151
2025-2029	$ 5,895
Weighted average duration | year	18.3
US
Disclosure of defined benefit plans [line items]
2020	$ 743
Expected Future Benefit Payment, Year Two	789
Expected Future Benefit Payment, Year Three	711
Expected Future Benefit Payment, Year Four	718
Expected Future Benefit Payment, Year Five	699
2025-2029	$ 3,277
Weighted average duration | year	13.2
Eurozone
Disclosure of defined benefit plans [line items]
2020	$ 333
Expected Future Benefit Payment, Year Two	323
Expected Future Benefit Payment, Year Three	319
Expected Future Benefit Payment, Year Four	314
Expected Future Benefit Payment, Year Five	300
2025-2029	$ 1,438
Weighted average duration | year	16.4
Other
Disclosure of defined benefit plans [line items]
2020	$ 104
Expected Future Benefit Payment, Year Two	98
Expected Future Benefit Payment, Year Three	101
Expected Future Benefit Payment, Year Four	98
Expected Future Benefit Payment, Year Five	99
2025-2029	$ 489
Weighted average duration | year	13

Cash and cash equivalents - Sch

Cash and cash equivalents - Schedule of cash and cash equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Subclassifications of assets, liabilities and equities [abstract]
Cash	$ 6,462	$ 6,148
Term bank deposits	10,296	13,105
Cash equivalents (excluding term bank deposits)	5,714	3,215
Total cash and cash equivalents	$ 22,472	$ 22,468	[1]	$ 25,575	$ 25,586	$ 23,484
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Cash and cash equivalents - Nar

Cash and cash equivalents - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of geographical areas [line items]
Restricted cash and cash equivalents	$ 1,676	$ 1,350
Cash and cash equivalents	22,472	22,468	[1]	$ 25,575	$ 25,586	$ 23,484
Non-UK Countries
Disclosure of geographical areas [line items]
Cash and cash equivalents	$ 4,678	$ 4,693
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Finance debt - Summary of curre

Finance debt - Summary of current and non-current borrowings (Details) - USD ($) $ in Millions	Mar. 13, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Current finance debt		$ 10,487		$ 9,329	[1]
Non-current finance debt		57,237	$ 55,803	55,803	[1]
Total	$ 10,000	67,724		65,132
Borrowings
Disclosure of detailed information about borrowings [line items]
Current finance debt		10,487		9,329
Non-current finance debt		57,237		55,803
Total		$ 67,724		$ 65,132
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Finance debt - Narrative (Detai

Finance debt - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Current finance debt	$ 10,487	$ 9,329	[1]
Carrying amount | Within one year | Long-Term Borrowings, Excluding Finance Lease Liabilities
Disclosure of detailed information about borrowings [line items]
Current finance debt	8,166	7,175
Carrying amount | Within one year | Commercial Papers
Disclosure of detailed information about borrowings [line items]
Current finance debt	$ 2,279	$ 2,040
Fixed rate debt | Weighted average
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	3.00%	4.00%
Fixed rate debt | Weighted average | Other currencies
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	6.00%	5.00%
Weighted average time for which rate is fixed Years	10 years	5 years
Fixed rate debt | Weighted average | Previously stated [member] | Other currencies
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		7.00%
Weighted average time for which rate is fixed Years		18 years
Adjustment on adoption of IFRS 16 [Member] | Obligations Under Finance Leases [Member]
Disclosure of detailed information about borrowings [line items]
Financial liabilities		$ 667
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Finance debt - Summary of weigh

Finance debt - Summary of weighted average interest rates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 13, 2020
Disclosure of detailed information about borrowings [line items]
Total borrowings	$ 67,724	$ 65,132	$ 10,000
Fixed rate debt
Disclosure of detailed information about borrowings [line items]
Total borrowings	25,817	17,587
Floating rate debt
Disclosure of detailed information about borrowings [line items]
Total borrowings	$ 41,907	$ 47,545
Weighted average | Fixed rate debt
Disclosure of detailed information about borrowings [line items]
Weighted average interest rate	3.00%	4.00%
US dollar
Disclosure of detailed information about borrowings [line items]
Total borrowings	$ 67,505	$ 64,725
US dollar | Fixed rate debt
Disclosure of detailed information about borrowings [line items]
Total borrowings	25,634	17,264
US dollar | Floating rate debt
Disclosure of detailed information about borrowings [line items]
Total borrowings	$ 41,871	$ 47,461
US dollar | Weighted average | Fixed rate debt
Disclosure of detailed information about borrowings [line items]
Weighted average interest rate	4.00%	4.00%
Weighted average time for which rate is fixed Years	5 years	4 years
US dollar | Weighted average | Floating rate debt
Disclosure of detailed information about borrowings [line items]
Weighted average interest rate	3.00%	4.00%
Other currencies
Disclosure of detailed information about borrowings [line items]
Total borrowings	$ 219	$ 407
Other currencies | Fixed rate debt
Disclosure of detailed information about borrowings [line items]
Total borrowings	183	323
Other currencies | Floating rate debt
Disclosure of detailed information about borrowings [line items]
Total borrowings	$ 36	$ 84
Other currencies | Weighted average | Fixed rate debt
Disclosure of detailed information about borrowings [line items]
Weighted average interest rate	6.00%	5.00%
Weighted average time for which rate is fixed Years	10 years	5 years
Other currencies | Weighted average | Floating rate debt
Disclosure of detailed information about borrowings [line items]
Weighted average interest rate	7.00%	8.00%

Finance debt - Summary of fair

Finance debt - Summary of fair value and carrying value of borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Short-term borrowings
Disclosure of detailed information about borrowings [line items]
Financial liabilities, at fair value	$ 2,321	$ 2,153
Financial liabilities	2,321	2,153
Long-term borrowings
Disclosure of detailed information about borrowings [line items]
Financial liabilities, at fair value	67,055	63,213
Financial liabilities	65,403	62,979
Borrowings
Disclosure of detailed information about borrowings [line items]
Financial liabilities, at fair value	69,376	65,366
Financial liabilities	$ 67,724	$ 65,132

Capital disclosures and net d_3

Capital disclosures and net debt - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Mar. 13, 2020USD ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about borrowings [line items]
Gearing	0.311		0.300
Finance debt	$ 67,724	$ 10,000	$ 65,132
Net debt including leases	$ 55,006		$ 44,144
Minimum
Disclosure of detailed information about borrowings [line items]
Target net debt ratio	0.20
Maximum
Disclosure of detailed information about borrowings [line items]
Target net debt ratio	0.30
Previously reported
Disclosure of detailed information about borrowings [line items]
Gearing			0.303
Finance debt			$ 65,799
Net debt including leases			44,144
Obligations Under Finance Leases [Member] | Previously reported
Disclosure of detailed information about borrowings [line items]
Finance debt			$ 667

Capital disclosures and net d_4

Capital disclosures and net debt - Disclosure of the net debt ratio (Details) $ in Millions		12 Months Ended
		Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)		Mar. 13, 2020USD ($)	Jan. 01, 2019USD ($)	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Disclosure of detailed information about hedges [line items]
Finance debt		$ 67,724	$ 65,132		$ 10,000
Less: fair value asset (liability) of hedges related to finance debta		(190)	(813)
Debt, net of hedging instruments		67,914	65,945
Less: cash and cash equivalents		22,472	22,468	[1]			$ 25,575	$ 25,586	$ 23,484
Net debt		45,442	43,477
Equity	[2]	$ 100,708	$ 101,548	[1]		$ 101,218	$ 100,224	$ 100,404	$ 96,843
Gearing		0.311	0.300
Debt Hedges
Disclosure of detailed information about hedges [line items]
Gain (loss) on change in fair value of borrowings		$ 60	$ 193
Debt Hedges | Derivatives
Disclosure of detailed information about hedges [line items]
Financial liabilities at fair value through profit or loss		601	827
Net cash flow outflow on finance debt		$ (286)	$ 0
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.
[2]	See Note 32 for further information.

Capital disclosures and net d_5

Capital disclosures and net debt - Disclosure of net debt including leases (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Net debt	$ 45,442		$ 43,477
Lease liabilities	9,722	$ 9,900	667
Net partner (receivable) payable for joint operation leases	(158)		0
Net debt including leases	$ 55,006		$ 44,144

Capital disclosures and net d_6

Capital disclosures and net debt - Disclosure of reconciliation of liabilities arising from financing activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about hedges [line items]
Finance debt at beginning of year	$ 65,132
Hedge accounted derivatives at beginning of year	813
Lease liabilities	667
Net partner (receivable) payable for joint operation leases at beginning of year	0
Liabilities arising from financing activities at beginning of year	66,612	$ 63,405
Effect of adjustment on adoption of IFRS 16 on finance debt	9,450
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	(58)	(259)
Increase (decrease) through financing cash flows, liabilities arising from financing activities	(713)	3,145
Increase (decrease) through changes in fair values, liabilities arising from financing activities	(180)	142
Increase through new leases, liabilities arising from financing activities	2,696	74
Increase (decrease) through other changes, liabilities arising from financing activities	119	105
Finance debt at end of year	67,724	65,132
Hedge accounted derivatives at end of year	190	813
Lease liabilities	9,722	667
Net partner (receivable) payable for joint operation leases at end of year	(158)	0
Liabilities arising from financing activities at beginning of year	77,926	66,612
Borrowings
Disclosure of detailed information about hedges [line items]
Finance debt at beginning of year	65,132	62,574
Effect of adjustment on adoption of IFRS 16 on finance debt	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	(62)	(237)
Increase (decrease) through financing cash flows, liabilities arising from financing activities	1,671	3,540
Increase (decrease) through changes in fair values, liabilities arising from financing activities	924	(856)
Increase through new leases, liabilities arising from financing activities	0	0
Increase (decrease) through other changes, liabilities arising from financing activities	59	111
Finance debt at end of year	67,724	65,132
Debt Hedges
Disclosure of detailed information about hedges [line items]
Hedge accounted derivatives at beginning of year	813	175
Effect of adjustment on adoption of IFRS 16 on finance debt	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	0	0
Increase (decrease) through financing cash flows, liabilities arising from financing activities	2	(360)
Increase (decrease) through changes in fair values, liabilities arising from financing activities	(1,104)	998
Increase through new leases, liabilities arising from financing activities	0	0
Increase (decrease) through other changes, liabilities arising from financing activities	479	0
Hedge accounted derivatives at end of year	190	813
Lease liabilities
Disclosure of detailed information about hedges [line items]
Lease liabilities	667	656
Effect of adjustment on adoption of IFRS 16 on finance debt	9,233
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	(4)	(22)
Increase (decrease) through financing cash flows, liabilities arising from financing activities	(2,372)	(35)
Increase (decrease) through changes in fair values, liabilities arising from financing activities	0	0
Increase through new leases, liabilities arising from financing activities	2,614	74
Increase (decrease) through other changes, liabilities arising from financing activities	(416)	(6)
Lease liabilities	9,722	667
Net partner payable for leases entered into on behalf of joint operations
Disclosure of detailed information about hedges [line items]
Net partner (receivable) payable for joint operation leases at beginning of year	0	0
Effect of adjustment on adoption of IFRS 16 on finance debt	217
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	8	0
Increase (decrease) through financing cash flows, liabilities arising from financing activities	(14)	0
Increase (decrease) through changes in fair values, liabilities arising from financing activities	0	0
Increase through new leases, liabilities arising from financing activities	82	0
Increase (decrease) through other changes, liabilities arising from financing activities	(3)	0
Net partner (receivable) payable for joint operation leases at end of year	$ 290	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Undiscounted operating lease payments for future commitments for leases not yet commenced [Abstract]
Weighted-average remaining lease term (years)	9 years
Undiscounted operating lease payment for future commitments for leases not yet commenced	$ 5,688

Leases - Disclosure of maturity

Leases - Disclosure of maturity analysis of operating lease payments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			$ (1,350)
Gross lease liabilities	$ 11,299
Effect of discounting	(1,577)		(683)
Lease liabilities	9,722	$ 9,900	667
Current lease liabilities	2,067	2,196	44	[1]
Non-current lease liabilities	7,655	$ 7,704	623	[1]
Within one year
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			(98)
Gross lease liabilities	2,514
1 to 2 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			(97)
Gross lease liabilities	1,839
2 to 3 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			(95)
Gross lease liabilities	1,364
3 to 4 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			(94)
Gross lease liabilities	1,105
4 to 5 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			(86)
Gross lease liabilities	876
5 to 10 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			(309)
Gross lease liabilities	2,427
Over 10 years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received			$ (571)
Gross lease liabilities	$ 1,174
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Leases - Disclosure of quantita

Leases - Disclosure of quantitative information about right-of-use assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Short-term lease expense	$ 331
Expense for variable payments not included in the lease liability	67
Additions to right-of-use assets in the period	2,542
Total cash outflow for amounts included in lease liabilities	$ 2,709

Financial instruments and fin_3

Financial instruments and financial risk factors - Schedule of financial assets and liabilities (Details) - USD ($) $ in Millions	Mar. 13, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Finance debt	$ 10,000	$ 67,724	$ 65,132
Financial liabilities
Financial assets (liabilities)		(88,573)	(78,658)
Trade and other payables
Financial liabilities
Financial liabilities		(59,662)	(61,073)
Derivatives
Financial liabilities
Financial liabilities		(8,798)	(8,933)
Accruals
Financial liabilities
Financial liabilities		(6,062)	(5,201)
Lease liabilities
Financial liabilities
Financial liabilities		(9,722)	(667)
Borrowings
Financial liabilities
Financial liabilities		(67,724)	(65,132)
Other financial assets
Financial assets
Financial assets		1,445	1,563
Loans
Financial assets
Financial assets		969	963
Trade and other receivables
Financial assets
Financial assets		24,271	24,080
Derivatives
Financial assets
Financial assets		10,467	8,991
Cash and cash equivalents
Financial assets
Financial assets		22,472	22,468
Financial liabilities at fair value through profit or loss, category | Derivatives
Financial liabilities
Financial liabilities		(8,122)	(7,685)
Derivative hedging instruments
Financial liabilities
Financial assets (liabilities)		(193)	(821)
Derivative hedging instruments | Derivatives
Financial liabilities
Financial liabilities		(676)	1,248
Designated as measured at fair value through other comprehensive income
Financial liabilities
Financial assets (liabilities)		(96,039)	(82,505)
Designated as measured at fair value through other comprehensive income | Trade and other payables
Financial liabilities
Financial liabilities		(55,891)	(56,790)
Designated as measured at fair value through other comprehensive income | Accruals
Financial liabilities
Financial liabilities		(6,062)
Financial assets (liabilities)			(5,201)
Designated as measured at fair value through other comprehensive income | Lease liabilities
Financial liabilities
Financial liabilities		(9,722)	(667)
Designated as measured at fair value through other comprehensive income | Borrowings
Financial liabilities
Financial liabilities		(67,724)	(65,132)
Mandatorily measured at fair value through profit or loss
Financial liabilities
Financial assets (liabilities)		7,659	4,668
Mandatorily measured at fair value through profit or loss | Other financial assets
Financial assets
Financial assets		1,445	1,563
Mandatorily measured at fair value through profit or loss | Loans
Financial assets
Financial assets		63	124
Mandatorily measured at fair value through profit or loss | Derivatives
Financial assets
Financial assets		9,984	8,564
Mandatorily measured at fair value through profit or loss | Cash and cash equivalents
Financial assets
Financial assets		4,289	2,102
Measured at amortized cost | Loans
Financial assets
Financial assets		906	839
Measured at amortized cost | Trade and other receivables
Financial assets
Financial assets		24,271	24,080
Measured at amortized cost | Cash and cash equivalents
Financial assets
Financial assets		18,183	20,366
Derivative hedging instruments | Derivatives
Financial assets
Financial assets		$ 483	427
Previously reported
Disclosure of detailed information about financial instruments [line items]
Finance debt			$ 65,799

Financial instruments and fin_4

Financial instruments and financial risk factors - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)international_bank	Dec. 31, 2018USD ($)		Dec. 31, 2017USD ($)		Mar. 13, 2020USD ($)	Jan. 01, 2018USD ($)	Dec. 31, 2016USD ($)
Disclosure of detailed information about financial instruments [line items]
Finance debt	$ 67,724	$ 65,132				$ 10,000
Net gain (loss) related to other assets and liabilities classified as measured at fair value	129
Dividends recognised for investments in equity instruments designated as measured at fair value through profit or loss	20	8
Proceeds from long-term financing	8,597	9,038	[1]	$ 8,712	[1]
Cash and cash equivalents	22,472	22,468	[2]	$ 25,586			$ 25,575	$ 23,484
Long-Term Taxable Bonds
Disclosure of detailed information about financial instruments [line items]
Proceeds from long-term financing	8,000	9,000
Standby Credit Facility
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity	7,625	7,625
Committed Letter Of Credit Facilities [Member]
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity	12,175	12,175
Trade payables	4,755	3,705
Secured Letter Of Credit Facilities
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity	$ 4,440	4,190
Committed Letter Of Credit Facilities [Member]
Disclosure of detailed information about financial instruments [line items]
Number of lenders, financial institutions (international bank) | international_bank	20
Standby Credit Facility
Disclosure of detailed information about financial instruments [line items]
Number of lenders, financial institutions (international bank) | international_bank	25
Fixed rate debt
Disclosure of detailed information about financial instruments [line items]
Finance debt	$ 25,817	$ 17,587
Maximum | Long-Term Taxable Bonds
Disclosure of detailed information about financial instruments [line items]
Borrowings, maturity term	30 years
Maximum | Committed Letter Of Credit Facilities [Member]
Disclosure of detailed information about financial instruments [line items]
Borrowings, maturity term	24 months
Weighted average | Fixed rate debt
Disclosure of detailed information about financial instruments [line items]
Weighted average interest rate	3.00%	4.00%
Minimum | Long-Term Taxable Bonds
Disclosure of detailed information about financial instruments [line items]
Borrowings, maturity term	1 year
Commodity price risk | Maximum
Disclosure of detailed information about financial instruments [line items]
Board's delegated value at risk limit	$ 100	$ 100
Currency risk
Disclosure of detailed information about financial instruments [line items]
Borrowings not swapped	$ 219	407
Period in which maximum value at risk was not exceeded	3 years
Currency risk | Currency Forward Contract, USD And Sterling
Disclosure of detailed information about financial instruments [line items]
Notional amount	$ 106	$ 434
Currency risk | Maximum
Disclosure of detailed information about financial instruments [line items]
Board's delegated value at risk limit	$ 400
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Proportion of floating rate debt, net of interest rate swaps, to total finance debt	62.00%	73.00%
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, amount	$ 419	$ 475
Interest rate risk | Fixed rate debt
Disclosure of detailed information about financial instruments [line items]
Borrowings excluding leases, weighted average maturity period	5 years	4 years
Credit risk
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ 7,000	$ 7,300
Credit risk | Financial guarantee contracts | Third party arrangement
Disclosure of detailed information about financial instruments [line items]
Exposure to credit risk on loan commitments and financial guarantee contracts	523	432
Credit risk | Joint ventures and associates | Financial guarantee contracts
Disclosure of detailed information about financial instruments [line items]
Exposure to credit risk on loan commitments and financial guarantee contracts	692	696
Currency and interest rate risk
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets, undiscounted cash flows	$ 24,787	22,453
Previously reported
Disclosure of detailed information about financial instruments [line items]
Finance debt		$ 65,799
[1]	a The presentation of financing cash flows for the comparative periods have been amended to align with the current period. See Note 1 for further information.
[2]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Financial instruments and fin_5

Financial instruments and financial risk factors - Summary of credit risk profile of financial assets (Details) - Financial assets which are subject to review for impairment under IFRS 9	Dec. 31, 2019	Dec. 31, 2018
AAA to AA-
Disclosure of external credit grades [line items]
Expected credit loss rate, percent	16.00%	22.00%
A to A-
Disclosure of external credit grades [line items]
Expected credit loss rate, percent	51.00%	41.00%
BBB to BBB-
Disclosure of external credit grades [line items]
Expected credit loss rate, percent	13.00%	16.00%
BB to BB-
Disclosure of external credit grades [line items]
Expected credit loss rate, percent	7.00%	8.00%
B to B-
Disclosure of external credit grades [line items]
Expected credit loss rate, percent	11.00%	11.00%
CCC and below
Disclosure of external credit grades [line items]
Expected credit loss rate, percent	2.00%	2.00%

Financial instruments and fin_6

Financial instruments and financial risk factors - Financial instruments subject to offsetting, enforceable master netting arrangements and similar agreements (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivatives
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements [abstract]
Fair value of derivative assets	$ 13,191	$ 11,502
Less: netting by counterparty	(2,724)	(2,511)
Net amounts presented on the balance sheet	10,467	8,991
Related amounts not set off in the balance sheet
Master netting arrangements	(1,971)	(2,079)
Cash collateral (received) pledged	(206)	(299)
Net asset amount	8,290	6,613
Trade and other receivables
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements [abstract]
Fair value of derivative assets	10,661	11,296
Less: netting by counterparty	(5,211)	(5,390)
Net amounts presented on the balance sheet	5,450	5,906
Related amounts not set off in the balance sheet
Master netting arrangements	(961)	(1,020)
Cash collateral (received) pledged	(190)	(169)
Net asset amount	4,299	4,717
Derivatives
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements [abstract]
Fair value of derivative liabilities	(11,445)	(11,337)
Less: netting by counterparty	2,724	2,511
Net amounts presented on the balance sheet	(8,721)	(8,826)
Amounts subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities [abstract]
Master netting arrangements	1,971	2,079
Cash collateral (received) pledged	0	0
Net amount	(6,750)	(6,747)
Trade and other payables
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements [abstract]
Fair value of derivative liabilities	(10,266)	(10,797)
Less: netting by counterparty	5,211	5,390
Net amounts presented on the balance sheet	(5,055)	(5,407)
Amounts subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities [abstract]
Master netting arrangements	961	1,020
Cash collateral (received) pledged	0	0
Net amount	$ (4,094)	$ (4,387)

Financial instruments and fin_7

Financial instruments and financial risk factors - Schedule of future minimum lease payments and timing of cash outflows (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	$ 59,662	$ 61,073
Trade and other payables | Gulf of Mexico Oil Spill
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	16,129	18,360
Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	6,062	5,201
Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	65,353	63,942
Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	9,420	10,646
Later than one year [member] | Trade and other payables | Gulf of Mexico Oil Spill
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	14,501	16,058
Within one year | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	43,699	43,230
Within one year | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	5,066	4,626
Within one year | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	10,065	9,257
Within one year | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	2,037	2,350
1 to 2 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,937	2,232
1 to 2 years | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	261	146
1 to 2 years | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	6,726	6,743
1 to 2 years | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,641	1,904
2 to 3 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,465	1,662
2 to 3 years | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	146	95
2 to 3 years | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	7,949	6,758
2 to 3 years | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,409	1,653
3 to 4 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,409	1,484
3 to 4 years | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	181	64
3 to 4 years | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	7,022	8,005
3 to 4 years | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,172	1,379
4 to 5 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,332	1,406
4 to 5 years | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	108	89
4 to 5 years | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	7,554	7,009
4 to 5 years | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	942	1,101
5 to 10 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	5,863	6,058
5 to 10 years | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	231	113
5 to 10 years | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	23,540	25,187
5 to 10 years | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,970	2,250
Over 10 years | Trade and other payables
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	3,957	5,001
Over 10 years | Accruals
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	69	68
Over 10 years | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	2,497	983
Over 10 years | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	$ 249	9
Previously reported | Finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		64,608
Previously reported | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		11,329
Adjustment on adoption of IFRS 16 [Member] | Interest on finance debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		683
Adjustment on adoption of IFRS 16 [Member] | Obligations Under Finance Leases [Member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		$ 667

Financial instruments and fin_8

Financial instruments and financial risk factors - Schedule of future cash outflows for derivative instruments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	$ 25,984	$ 23,705
Within one year
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	1,678	1,700
1 to 2 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	2,384	1,678
2 to 3 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	2,838	2,384
3 to 4 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	2,906	2,838
4 to 5 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	3,321	2,906
5 to 10 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	10,633	11,475
Over 10 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	$ 2,224	$ 724

Derivative financial instrume_3

Derivative financial instruments - Summary of fair value of derivative instruments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	$ 9,984	$ 8,564
Derivatives held for trading, Fair value liabilities	(8,045)	(7,578)
Embedded derivatives, Fair value assets	0	0
Embedded derivative, Fair value liabilities	(77)	(107)
Fair value asset	10,467	8,991
Fair value liability	(8,798)	(8,933)
Current derivatives, Fair value assets	4,153	3,846	[1]
Current derivatives, Fair value liabilities	(3,261)	(3,308)	[1]
Non-current derivatives, Fair value assets	6,314	5,145	[1]
Non-current derivatives, Fair value liabilities	(5,537)	(5,625)	[1]
Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Hedges, Fair value asset	1	7
Hedges, Fair value liability	(4)	(14)
Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Hedges, Fair value asset	482	420
Hedges, Fair value liability	(672)	(1,234)
Currency forwards | Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Hedges, Fair value asset	1	5
Hedges, Fair value liability	(4)	(14)
Gas price futures | Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Hedges, Fair value asset	0	2
Hedges, Fair value liability	0	0
Currency swaps | Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Hedges, Fair value asset	344	158
Hedges, Fair value liability	(637)	(789)
Interest rate swaps | Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Hedges, Fair value asset	138	262
Hedges, Fair value liability	(35)	(445)
Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	81	69
Derivatives held for trading, Fair value liabilities	(744)	(898)
Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,918	2,361
Derivatives held for trading, Fair value liabilities	(1,478)	(1,849)
Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	6,569	4,787
Derivatives held for trading, Fair value liabilities	(4,871)	(3,888)
Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,306	1,240
Derivatives held for trading, Fair value liabilities	(952)	(943)
Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	110	107
Derivatives held for trading, Fair value liabilities	0	0
Embedded derivatives, Fair value assets	0	0
Embedded derivative, Fair value liabilities	$ (77)	$ (107)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Derivative financial instrume_4

Derivative financial instruments - Summary of maturities of derivative assets and liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	$ 9,984	$ 8,564
Derivative liabilities held for trading	(8,045)	(7,578)
Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	81	69
Derivative liabilities held for trading	(744)	(898)
Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,918	2,361
Derivative liabilities held for trading	(1,478)	(1,849)
Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	6,569	4,787
Derivative liabilities held for trading	(4,871)	(3,888)
Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,306	1,240
Derivative liabilities held for trading	(952)	(943)
Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	110	107
Derivative liabilities held for trading	0	0
Within one year
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	4,145	3,837
Derivative liabilities held for trading	(3,036)	(3,290)
Within one year | Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	48	48
Derivative liabilities held for trading	(166)	(299)
Within one year | Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,619	1,916
Derivative liabilities held for trading	(1,405)	(1,560)
Within one year | Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,889	1,333
Derivative liabilities held for trading	(1,070)	(1,030)
Within one year | Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	556	540
Derivative liabilities held for trading	(395)	(401)
Within one year | Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	33	0
1-2 years
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1,230	1,359
Derivative liabilities held for trading	(1,026)	(1,073)
1-2 years | Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	23	12
Derivative liabilities held for trading	(283)	(71)
1-2 years | Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	114	363
Derivative liabilities held for trading	(56)	(232)
1-2 years | Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	824	708
Derivative liabilities held for trading	(522)	(557)
1-2 years | Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	269	276
Derivative liabilities held for trading	(165)	(213)
1-2 years | Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	0	0
2-3 years
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	846	762
Derivative liabilities held for trading	(765)	(785)
2-3 years | Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	9	9
Derivative liabilities held for trading	(201)	(256)
2-3 years | Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	76	53
Derivative liabilities held for trading	(14)	(43)
2-3 years | Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	615	542
Derivative liabilities held for trading	(446)	(391)
2-3 years | Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	146	158
Derivative liabilities held for trading	(104)	(95)
2-3 years | Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	0	0
3-4 years
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	714	556
Derivative liabilities held for trading	(478)	(575)
3-4 years | Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	1	0
Derivative liabilities held for trading	(1)	(171)
3-4 years | Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	53	25
Derivative liabilities held for trading	(2)	(12)
3-4 years | Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	489	452
Derivative liabilities held for trading	(399)	(338)
3-4 years | Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	94	79
Derivative liabilities held for trading	(76)	(54)
3-4 years | Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	77	0
4-5 years
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	545	518
Derivative liabilities held for trading	(438)	(337)
4-5 years | Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	0	0
Derivative liabilities held for trading	(23)	(3)
4-5 years | Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	45	4
Derivative liabilities held for trading	(1)	(2)
4-5 years | Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	433	352
Derivative liabilities held for trading	(363)	(285)
4-5 years | Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	67	55
Derivative liabilities held for trading	(51)	(47)
4-5 years | Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	0	107
Over 5 years
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	2,504	1,532
Derivative liabilities held for trading	(2,302)	(1,518)
Over 5 years | Currency derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	0	0
Derivative liabilities held for trading	(70)	(98)
Over 5 years | Oil price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	11	0
Derivative liabilities held for trading	0	0
Over 5 years | Natural gas price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	2,319	1,400
Derivative liabilities held for trading	(2,071)	(1,287)
Over 5 years | Power price derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	174	132
Derivative liabilities held for trading	(161)	(133)
Over 5 years | Other derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative assets held for trading	$ 0	$ 0

Derivative financial instrume_5

Derivative financial instruments - Analysis of fair value derivative sssets and liabilities by maturity and fair value estimation (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	$ 9,984	$ 8,564
Derivatives held for trading, Fair value liabilities	(8,045)	(7,578)
Within one year
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	4,145	3,837
Derivatives held for trading, Fair value liabilities	(3,036)	(3,290)
1-2 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	1,230	1,359
Derivatives held for trading, Fair value liabilities	(1,026)	(1,073)
2-3 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	846	762
Derivatives held for trading, Fair value liabilities	(765)	(785)
3-4 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	714	556
Derivatives held for trading, Fair value liabilities	(478)	(575)
4-5 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	545	518
Derivatives held for trading, Fair value liabilities	(438)	(337)
Over 5 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	2,504	1,532
Derivatives held for trading, Fair value liabilities	(2,302)	(1,518)
Derivatives held for trading
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	9,984	8,564
Derivative assets held for trading, before netting	12,708	11,075
Less: netting by counterparty	(2,724)	(2,511)
Derivatives held for trading, Fair value liabilities	(8,045)	(7,578)
Derivative financial liabilities held for trading, before netting	(10,769)	(10,089)
Less: netting by counterparty	2,724	2,511
Net fair value	1,939	986
Derivatives held for trading | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	74	128
Derivatives held for trading, Fair value liabilities	(65)	(171)
Derivatives held for trading | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	7,169	7,320
Derivatives held for trading, Fair value liabilities	(6,272)	(6,837)
Derivatives held for trading | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	5,465	3,627
Derivatives held for trading, Fair value liabilities	(4,432)	(3,081)
Derivatives held for trading | Within one year
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	4,145	3,837
Derivative assets held for trading, before netting	6,186	5,602
Less: netting by counterparty	(2,041)	(1,765)
Derivatives held for trading, Fair value liabilities	(3,036)	(3,290)
Derivative financial liabilities held for trading, before netting	(5,077)	(5,055)
Less: netting by counterparty	2,041	1,765
Net fair value	1,109	547
Derivatives held for trading | Within one year | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	63	111
Derivatives held for trading, Fair value liabilities	(49)	(156)
Derivatives held for trading | Within one year | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	5,344	5,000
Derivatives held for trading, Fair value liabilities	(4,522)	(4,562)
Derivatives held for trading | Within one year | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	779	491
Derivatives held for trading, Fair value liabilities	(506)	(337)
Derivatives held for trading | 1-2 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	1,230	1,359
Derivative assets held for trading, before netting	1,521	1,761
Less: netting by counterparty	(291)	(402)
Derivatives held for trading, Fair value liabilities	(1,026)	(1,073)
Derivative financial liabilities held for trading, before netting	(1,317)	(1,475)
Less: netting by counterparty	291	402
Net fair value	204	286
Derivatives held for trading | 1-2 years | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	6	14
Derivatives held for trading, Fair value liabilities	(8)	(11)
Derivatives held for trading | 1-2 years | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	1,014	1,362
Derivatives held for trading, Fair value liabilities	(932)	(1,161)
Derivatives held for trading | 1-2 years | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	501	385
Derivatives held for trading, Fair value liabilities	(377)	(303)
Derivatives held for trading | 2-3 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	846	762
Derivative assets held for trading, before netting	926	860
Less: netting by counterparty	(80)	(98)
Derivatives held for trading, Fair value liabilities	(765)	(785)
Derivative financial liabilities held for trading, before netting	(845)	(883)
Less: netting by counterparty	80	98
Net fair value	81	(23)
Derivatives held for trading | 2-3 years | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	2	3
Derivatives held for trading, Fair value liabilities	(4)	(2)
Derivatives held for trading | 2-3 years | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	439	504
Derivatives held for trading, Fair value liabilities	(458)	(576)
Derivatives held for trading | 2-3 years | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	485	353
Derivatives held for trading, Fair value liabilities	(383)	(305)
Derivatives held for trading | 3-4 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	714	556
Derivative assets held for trading, before netting	750	593
Less: netting by counterparty	(36)	(37)
Derivatives held for trading, Fair value liabilities	(478)	(575)
Derivative financial liabilities held for trading, before netting	(514)	(612)
Less: netting by counterparty	36	37
Net fair value	236	(19)
Derivatives held for trading | 3-4 years | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	0	0
Derivatives held for trading, Fair value liabilities	(1)	(2)
Derivatives held for trading | 3-4 years | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	210	262
Derivatives held for trading, Fair value liabilities	(146)	(308)
Derivatives held for trading | 3-4 years | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	540	331
Derivatives held for trading, Fair value liabilities	(367)	(302)
Derivatives held for trading | 4-5 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	545	518
Derivative assets held for trading, before netting	574	547
Less: netting by counterparty	(29)	(29)
Derivatives held for trading, Fair value liabilities	(438)	(337)
Derivative financial liabilities held for trading, before netting	(467)	(366)
Less: netting by counterparty	29	29
Net fair value	107	181
Derivatives held for trading | 4-5 years | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	2	0
Derivatives held for trading, Fair value liabilities	(2)	0
Derivatives held for trading | 4-5 years | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	120	120
Derivatives held for trading, Fair value liabilities	(113)	(67)
Derivatives held for trading | 4-5 years | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	452	427
Derivatives held for trading, Fair value liabilities	(352)	(299)
Derivatives held for trading | Over 5 years
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	2,504	1,532
Derivative assets held for trading, before netting	2,751	1,712
Less: netting by counterparty	(247)	(180)
Derivatives held for trading, Fair value liabilities	(2,302)	(1,518)
Derivative financial liabilities held for trading, before netting	(2,549)	(1,698)
Less: netting by counterparty	247	180
Net fair value	202	14
Derivatives held for trading | Over 5 years | Level 1
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	1	0
Derivatives held for trading, Fair value liabilities	(1)	0
Derivatives held for trading | Over 5 years | Level 2
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	42	72
Derivatives held for trading, Fair value liabilities	(101)	(163)
Derivatives held for trading | Over 5 years | Level 3
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets held for trading	2,708	1,640
Derivatives held for trading, Fair value liabilities	$ (2,447)	$ (1,535)

Derivative financial instrume_6

Derivative financial instruments - Disclosure of changes in fair value of derivative instruments (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in fair value measurement, assets [abstract]
Net assets, beginning of period	[1]	$ 101,548
Net assets, end of period		100,708	$ 101,548	[1]
Level 3
Reconciliation of changes in fair value measurement, assets [abstract]
Deferred day-one gains (losses)		949	577
Derivative asset (liability)		1,033	546
Level 3 | Derivatives
Reconciliation of changes in fair value measurement, assets [abstract]
Net assets, beginning of period		(31)	21
Gains (losses) recognized in the income statement		456	233
Gains (losses) recognised in other comprehensive income on financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently		(18)
Settlements		(279)	(236)
Transfers out of level 3		(44)	(49)
Net assets, end of period		84	(31)
Level 3 | Derivatives | Oil price derivatives
Reconciliation of changes in fair value measurement, assets [abstract]
Net assets, beginning of period		23	67
Gains (losses) recognized in the income statement		128	58
Gains (losses) recognised in other comprehensive income on financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently		0
Settlements		(79)	(107)
Transfers out of level 3		(1)	5
Net assets, end of period		71	23
Level 3 | Derivatives | Natural gas price derivatives
Reconciliation of changes in fair value measurement, assets [abstract]
Net assets, beginning of period		(13)	65
Gains (losses) recognized in the income statement		82	(26)
Gains (losses) recognised in other comprehensive income on financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently		0
Settlements		(21)	(32)
Transfers out of level 3		(20)	(20)
Net assets, end of period		28	(13)
Level 3 | Derivatives | Power price derivatives
Reconciliation of changes in fair value measurement, assets [abstract]
Net assets, beginning of period		(148)	(226)
Gains (losses) recognized in the income statement		244	209
Gains (losses) recognised in other comprehensive income on financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently		(18)
Settlements		(179)	(97)
Transfers out of level 3		(24)	(34)
Net assets, end of period		(125)	(148)
Level 3 | Derivatives | Other derivatives
Reconciliation of changes in fair value measurement, assets [abstract]
Net assets, beginning of period		107	115
Gains (losses) recognized in the income statement		2	(8)
Gains (losses) recognised in other comprehensive income on financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently		0
Settlements		0	0
Transfers out of level 3		1	0
Net assets, end of period		$ 110	$ 107
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Derivative financial instrume_7

Derivative financial instruments - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about financial instruments [line items]
Gains (losses) recognized in the income statement, excluding gains and losses on realized physical derivative contracts reflected in sakes and purchases			$ (2,153)	$ (2,504)	$ (1,983)
Level 3
Disclosure of detailed information about financial instruments [line items]
Deferred gain (loss) on derivatives			949	577
Derivatives held for trading | Derivatives | Level 3
Disclosure of detailed information about financial instruments [line items]
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for assets held at end of period, fair value measurement	$ 250	$ 123
Futures, Options, Swaps, and Forward Derivative Contracts
Disclosure of detailed information about financial instruments [line items]
Gains (losses) recognized in the income statement			(160)	351	$ (1,420)
Currency risk | Highly probable forecast capital expenditure | Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Notional amount	386		150	386
Currency risk | Highly probable forecast capital expenditure | Cash flow hedges | Within one year
Disclosure of detailed information about financial instruments [line items]
Notional amount	304		150	304
Currency risk | Highly probable forecast capital expenditure | Cash flow hedges | 1-2 years
Disclosure of detailed information about financial instruments [line items]
Notional amount	82		$ 0	82
Interest rate risk | Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Average rate of hedging instrument			2.36%
Notional amount	24,513		$ 13,442	24,513
Interest rate risk | Fair value hedges | Within one year
Disclosure of detailed information about financial instruments [line items]
Notional amount	2,694		3,000	2,694
Interest rate risk | Fair value hedges | 1-2 years
Disclosure of detailed information about financial instruments [line items]
Notional amount	2,324		$ 2,576	2,324
Currency and interest rate risk | Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Average rate of hedging instrument			3.27%
Notional amount	16,580		$ 21,296	16,580
Currency and interest rate risk | Fair value hedges | Within one year
Disclosure of detailed information about financial instruments [line items]
Notional amount	0		882	0
Currency and interest rate risk | Fair value hedges | 1-2 years
Disclosure of detailed information about financial instruments [line items]
Notional amount	$ 1,245		$ 672	$ 1,245

Derivative financial instrume_8

Derivative financial instruments - Fair value of hedge ineffectiveness (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair value hedges | Interest rate risk on finance debt
Disclosure of detailed information about financial instruments [line items]
Change in fair value of hedging instrument used to calculate ineffectiveness	$ (764)	$ (70)
Change in fair value of hedged item used to calculate ineffectiveness	737	69
Hedge ineffectiveness recognized in profit or (loss)	27	(1)
Fair value hedges | Interest rate and foreign currency risk on finance debt
Disclosure of detailed information about financial instruments [line items]
Change in fair value of hedging instrument used to calculate ineffectiveness	(336)	812
Change in fair value of hedged item used to calculate ineffectiveness	286	(809)
Hedge ineffectiveness recognized in profit or (loss)	50	3
Highly probable forecast capital expenditure | Cash flow hedges | Foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Change in fair value of hedging instrument used to calculate ineffectiveness	(1)	(5)
Change in fair value of hedged item used to calculate ineffectiveness	1	5
Hedge ineffectiveness recognized in profit or (loss)	0	0
Highly probable forecast sales | Cash flow hedges | Commodity price risk
Disclosure of detailed information about financial instruments [line items]
Change in fair value of hedging instrument used to calculate ineffectiveness	(100)	(126)
Change in fair value of hedged item used to calculate ineffectiveness	100	126
Hedge ineffectiveness recognized in profit or (loss)	$ 0	$ 0

Derivative financial instrume_9

Derivative financial instruments - Carrying and notional amounts of hedges (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)MMBTU
Cash flow hedges
Disclosure of detailed information about financial instruments [line items]
Hedging instrument, assets	$ 1	$ 7
Hedging instrument, liabilities	(4)	(14)
Fair value hedges
Disclosure of detailed information about financial instruments [line items]
Hedging instrument, assets	482	420
Hedging instrument, liabilities	(672)	(1,234)
Fair value hedges | Interest rate risk on finance debt
Disclosure of detailed information about financial instruments [line items]
Hedging instrument, assets	138	262
Hedging instrument, liabilities	(35)	(445)
Nominal amounts of hedging instruments	13,442	24,513
Change in fair value of hedging instrument used to calculate ineffectiveness	(764)	(70)
Fair value hedges | Interest rate and foreign currency risk on finance debt
Disclosure of detailed information about financial instruments [line items]
Hedging instrument, assets	344	158
Hedging instrument, liabilities	(637)	(789)
Nominal amounts of hedging instruments	21,296	16,580
Change in fair value of hedging instrument used to calculate ineffectiveness	(336)	812
Highly probable forecast capital expenditure | Cash flow hedges | Foreign exchange risk
Disclosure of detailed information about financial instruments [line items]
Hedging instrument, assets	1	5
Hedging instrument, liabilities	(4)	(14)
Nominal amounts of hedging instruments	150	386
Change in fair value of hedging instrument used to calculate ineffectiveness	(1)	(5)
Highly probable forecast sales | Cash flow hedges | Commodity price risk
Disclosure of detailed information about financial instruments [line items]
Hedging instrument, assets		2
Hedging instrument, liabilities		0
Change in fair value of hedging instrument used to calculate ineffectiveness	$ (100)	$ (126)
Nominal Amounts Of Hedging Instruments | MMBTU		145

Derivative financial instrum_10

Derivative financial instruments - Summary of tenor of nominal amount of hedges (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	$ 13,442	$ 24,513
Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	21,296	16,580
Within one year | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	3,000	2,694
Within one year | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	882	0
1-2 years | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	2,576	2,324
1-2 years | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	672	1,245
2-3 years | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	4,039	2,597
2-3 years | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	1,400	1,167
3-4 years | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	1,200	4,923
3-4 years | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	2,777	707
4 to 5 years | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	206	1,700
4 to 5 years | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	3,109	2,921
5-10 years | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	2,421	10,275
5-10 years | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	10,216	10,254
Over 10 years | Interest rate risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	0	0
Over 10 years | Interest rate and foreign currency risk on finance debt | Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	2,240	286
Highly probable forecast capital expenditure | Foreign exchange risk | Cash flow hedges
Disclosure of detailed information about hedges [line items]
Notional amount	150	386
Highly probable forecast capital expenditure | Within one year | Foreign exchange risk | Cash flow hedges
Disclosure of detailed information about hedges [line items]
Notional amount	150	304
Highly probable forecast capital expenditure | 1-2 years | Foreign exchange risk | Cash flow hedges
Disclosure of detailed information about hedges [line items]
Notional amount	$ 0	$ 82

Derivative financial instrum_11

Derivative financial instruments - Weighted average exchange rates of hedges (Details) - Cash flow hedges	12 Months Ended
	Dec. 31, 2019₩ / $	Dec. 31, 2019£ / $	Dec. 31, 2019kr / $	Dec. 31, 2019$ / $	Dec. 31, 2019€ / $	Dec. 31, 2018₩ / $	Dec. 31, 2018£ / $	Dec. 31, 2018kr / $	Dec. 31, 2018$ / $	Dec. 31, 2018€ / $
Highly probable forecast capital expenditure
Disclosure of detailed information about hedges [line items]
Average foreign exchange rate (per USD)	1,115.66	1.35	0	0	1.11	1,107.90	1.34	8.67	0.72	1.14
Highly probable forecast sales
Disclosure of detailed information about hedges [line items]
Average price of hedging instrument (Henry Hub $/mmBtu)						2.86	2.86	2.86	2.86	2.86

Derivative financial instrum_12

Derivative financial instruments - Accumulated fair value adjustments of the hedged items (Details) - Fair value hedges - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Interest rate and foreign currency risk on finance debt
Disclosure of detailed information about hedged items [line items]
Hedged item, assets	$ 0	$ 0
Hedged item, liabilities	(21,240)	(16,883)
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets	0	0
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, liabilities	(525)	(62)
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, discontinued hedges	0	0
Interest rate risk on finance debt
Disclosure of detailed information about hedged items [line items]
Hedged item, assets	0	0
Hedged item, liabilities	(13,441)	(24,747)
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets	0	175
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, liabilities	(100)	0
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, discontinued hedges	$ (714)	$ (360)

Derivative financial instrum_13

Derivative financial instruments - Movement in reserves related to hedge accounting (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in cash flow hedge reserve
Cash flow hedges marked to market	[1]	$ (100)	$ (126)	$ 197
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss	[1]	106	120	116
Cash flow hedges (including reclassifications), pre-tax		6	(6)	425
Cash flow hedges transferred to the balance sheet	[2]	23	26
Movement in costs of hedging reserve
Costs of hedging marked to market	[1]	(4)	(244)	0
Costs of hedging reclassified to the income statement	[1]	57	58	0
Costs of hedging (including reclassifications), Pre-tax		53	(186)
Movement in cash flow hedge and costs of hedging reserves
Total reserve, period start		(901)	(661)
Cash flow hedges marked to market		(103)	(163)
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss	[1]	106	120	116
Costs of hedging marked to market	[1]	(4)	(244)	0
Costs of hedging reclassified to the income statement	[1]	57	58	0
Cash flow hedges and cost of hedges (including reclassifications), pre-tax		56	(229)
Cash flow hedges transferred to the balance sheet	[2]	23	26
Total reserve, period start		(822)	(901)	(661)
Highly probable forecast capital expenditure | Cash flow hedges
Movement in cash flow hedge reserve
Reserve of cash flow hedges, period start		(21)	(10)
Cash flow hedges marked to market		(3)	(37)
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss		0	0
Cash flow hedges (including reclassifications), pre-tax		(3)	(37)
Cash flow hedges transferred to the balance sheet		23	26
Reserve of cash flow hedges, period end		(1)	(21)	(10)
Movement in cash flow hedge and costs of hedging reserves
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss		0	0
Cash flow hedges transferred to the balance sheet		23	26
Highly probable forecast sales | Cash flow hedges
Movement in cash flow hedge reserve
Reserve of cash flow hedges, period start		(6)	0
Cash flow hedges marked to market		(100)	(126)
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss		106	120
Cash flow hedges (including reclassifications), pre-tax		6	(6)
Cash flow hedges transferred to the balance sheet		0	0
Reserve of cash flow hedges, period end		0	(6)	0
Movement in cash flow hedge and costs of hedging reserves
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss		106	120
Cash flow hedges transferred to the balance sheet		0	0
Purchase of equity | Cash flow hedges
Movement in cash flow hedge reserve
Reserve of cash flow hedges, period start		(651)	(651)
Cash flow hedges marked to market		0	0
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss		0	0
Cash flow hedges (including reclassifications), pre-tax		0	0
Cash flow hedges transferred to the balance sheet		0	0
Reserve of cash flow hedges, period end		(651)	(651)	(651)
Movement in cash flow hedge and costs of hedging reserves
Cash flow hedges reclassified to the income statement - hedged item affected profit or loss		0	0
Cash flow hedges transferred to the balance sheet		0	0
Interest rate and foreign currency risk on finance debt | Fair value hedges
Movement in costs of hedging reserve
Cost of hedging reserve, period start		(223)	0
Costs of hedging marked to market		(4)	(244)
Costs of hedging reclassified to the income statement		57	58
Costs of hedging (including reclassifications), Pre-tax		53	(186)
Cost of hedging reserve, period end		(170)	(223)	$ 0
Movement in cash flow hedge and costs of hedging reserves
Costs of hedging marked to market		(4)	(244)
Costs of hedging reclassified to the income statement		$ 57	$ 58
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.

Called-up share capital - Summa

Called-up share capital - Summary of allotted, called up and fully paid share capital (Details) £ / shares in Units, $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended	12 Months Ended
		Mar. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2019GBP (£)£ / sharesshares	Dec. 31, 2018£ / sharesshares	Dec. 31, 2017£ / sharesshares
Reconciliation of number of shares outstanding [abstract]
Balance, beginning of period		$ 5,404	$ 5,402	$ 5,343
Repurchase of ordinary share capital	[1]		(1,511)	(355)	$ (343)
Balance, end of period			5,404	5,402	5,343
Preference shares
Reconciliation of number of shares outstanding [abstract]
Balance, beginning of period		21	21	21
Balance, end of period			21	$ 21	$ 21
Number of shares authorised | £						£ 10,000,000
First Preference Shares
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid (in shares) | shares				7,233	7,233	7,233	7,233	7,233
Reconciliation of number of shares outstanding [abstract]
Balance, beginning of period		12	12	$ 12
Balance, end of period			$ 12	$ 12	$ 12
Par value per share (in gbp per share) | £ / shares						£ 1	£ 1	£ 1
Percentage of nominal cumulative preference shares			8.00%	8.00%	8.00%
Second Preference Shares
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid (in shares) | shares				5,473	5,473	5,473	5,473	5,473
Reconciliation of number of shares outstanding [abstract]
Balance, beginning of period		$ 9	$ 9	$ 9
Balance, end of period			$ 9	$ 9	$ 9
Par value per share (in gbp per share) | £ / shares						£ 1	£ 1	£ 1
Percentage of nominal cumulative preference shares			9.00%	9.00%	9.00%
Ordinary Shares
Reconciliation of number of shares outstanding [abstract]
Balance, beginning of period (in shares) | shares		21,535,840	21,525,464	21,288,193	21,049,696
Balance, beginning of period		$ 5,383	$ 5,381	$ 5,322	$ 5,263
Issue of new shares for the scrip dividend programme (in shares) | shares			208,927	195,305	289,789
Issue of new shares for the scrip dividend programme			$ 52	$ 49	$ 72
Issue of new shares for employee share-based payment plans (in shares) | shares			37,400	92,168	0
Issue of new shares for employee share-based payment plans			$ 9	$ 23	$ 0
Issue of new shares – other (in shares) | shares			0	0	0
Issue of new shares – other			$ 0	$ 0	$ 0
Repurchase of ordinary share capital (in shares) | shares		120,000	(235,951)	(50,202)	(51,292)
Repurchase of ordinary share capital		$ 776	$ (59)	$ (13)	$ (13)
Balance, end of period (in shares) | shares			21,535,840	21,525,464	21,288,193
Balance, end of period			$ 5,383	$ 5,381	$ 5,322
Par value per share (in gbp per share) | $ / shares			$ 0.25	$ 0.25	$ 0.25
[1]	See Note 32 for further information.

Called-up share capital - Narra

Called-up share capital - Narrative (Details) shares in Thousands, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)voteshares	Dec. 31, 2018USD ($)shares		Dec. 31, 2017USD ($)shares
Disclosure of classes of share capital [line items]
Payments to acquire or redeem entity's shares		$ 1,511	$ 355	[1]	$ 343	[1]
Percentage of ordinary share capital repurchased		1.10%
Percentage of number of shares held in treasury		5.90%	6.90%		7.50%
Movement in shares held in treasury to ordinary share capital, percent		0.50%	1.00%		0.50%
Preference shares
Disclosure of classes of share capital [line items]
Number of shareholder votes per each 5 pounds in nominal amount held (vote) | vote		2
Percentage of the capital paid on preference shares, added to accrued and unpaid dividends		10.00%
Ordinary Shares
Disclosure of classes of share capital [line items]
Number of shareholder votes held (vote) | vote		1
Ordinary share repurchase (in shares) | shares	(120,000)	235,951	50,202		51,292
Payments to acquire or redeem entity's shares	$ 776	$ 1,511
Transaction costs for repurchase of ordinary shares		$ 8
[1]	a The presentation of financing cash flows for the comparative periods have been amended to align with the current period. See Note 1 for further information.

Called-up share capital - Treas

Called-up share capital - Treasury shares (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Treasury shares
Disclosure of classes of share capital [line items]
Balance, beginning of period (in shares)	1,426,265	1,482,072	1,614,657
Treasury shares outstanding, beginning of period	$ 356	$ 370	$ 403
Purchases for settlement of employee share plans (in shares)	1,118	757	4,423
Purchases for settlement of employee share plans	$ 0	$ 0	$ 1
Shares re-issued for employee share-based payment plans (in shares)	(167,927)	(148,732)	(137,008)
Shares re-issued for employee share-based payment plans	$ (42)	$ (37)	$ (34)
Balance, end of period (in shares)	1,296,856	1,426,265	1,482,072
Treasury shares outstanding, end of period	$ 323	$ 356	$ 370
Treasury shares
Disclosure of classes of share capital [line items]
Issue of new shares for employee share-based payment plans (in shares)	37,400	92,168	0
Issue of new shares for employee share-based payment plans	$ 9	$ 23	$ 0

Capital and reserves - Summary

Capital and reserves - Summary of reserves and other equity interest (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	$ 101,548	[2]	$ 100,404		$ 96,843
Profit for the year	[1],[3]	4,190		9,578		3,468
Items that may be reclassified subsequently to profit or loss
Currency translation differences (including reclassifications)		2,416		(3,787)		1,771
Costs of hedging reclassified to the income statement						14
Costs of hedging (including reclassifications), Net of tax		55		(179)
Cash flow hedges and costs of hedging (including reclassifications)		5		(6)		396
Share of items relating to equity-accounted entities, net of tax	[3]	82		417		564
Other		(64)		7		(72)
Items that will not be reclassified to profit or loss
Remeasurements of the net pension and other post-retirement benefit liability or asset		171		1,599		2,343
Costs of hedges that will subsequently be transferred to the balance sheet		(3)		(37)
Total comprehensive income	[1],[3]	6,847		7,598		8,484
Dividends	[1],[4]	(7,142)		(6,869)		(6,294)
Cash flow hedges transferred to the balance sheet, net of tax	[1]	23		26
Repurchase of ordinary share capital	[1]	(1,511)		(355)		(343)
Share-based payments, net of tax	[1]	719		703		687
Share of equity-accounted entities’ changes in equity, net of tax	[1]	5		14		215
Transactions involving non-controlling interests, net of tax	[1]	549		207		812
Equity outstanding, end of period	[1]	100,708		101,548	[2]	100,404
Total share capital and capital reserves
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	46,352		46,122		46,122
Items that will not be reclassified to profit or loss
Dividends		0		0		0
Repurchase of ordinary share capital		0		0
Share-based payments, net of tax		173	[1]	230	[1]	0
Equity outstanding, end of period	[1]	46,525		46,352		46,122
Share capital
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		5,402		5,343		5,284
Items that will not be reclassified to profit or loss
Dividends		52		49		72
Repurchase of ordinary share capital		(59)		(13)		(13)
Share-based payments, net of tax		9		23		0
Equity outstanding, end of period		5,404		5,402		5,343
Share premium account
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		12,305		12,147		12,219
Items that will not be reclassified to profit or loss
Dividends		(52)		(49)		(72)
Share-based payments, net of tax		164		207		0
Equity outstanding, end of period		12,417		12,305		12,147
Capital redemption reserve
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		1,439		1,426		1,413
Items that will not be reclassified to profit or loss
Repurchase of ordinary share capital		59		13		13
Equity outstanding, end of period		1,498		1,439		1,426
Merger reserve
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		27,206		27,206		27,206
Items that will not be reclassified to profit or loss
Equity outstanding, end of period		27,206		27,206		27,206
Treasury shares
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	(15,767)		(16,958)		(18,443)
Items that will not be reclassified to profit or loss
Share-based payments, net of tax	[1]	1,355		1,191		1,485
Equity outstanding, end of period	[1]	(14,412)		(15,767)		(16,958)
Foreign currency translation reserve
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	(8,902)		(5,156)		(6,878)
Items that may be reclassified subsequently to profit or loss
Currency translation differences (including reclassifications)		2,407		(3,746)		1,722
Items that will not be reclassified to profit or loss
Total comprehensive income	[1]	2,407		(3,746)		1,722
Equity outstanding, end of period	[1]	(6,495)		(8,902)		(5,156)
Available- for-sale investments
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		0		17		3
Items that may be reclassified subsequently to profit or loss
Costs of hedging reclassified to the income statement						14
Items that will not be reclassified to profit or loss
Total comprehensive income				0		14
Equity outstanding, end of period		0		0		17
Cash flow hedges
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		(777)		(760)		(1,156)
Items that may be reclassified subsequently to profit or loss
Costs of hedging (including reclassifications), Net of tax		5		(6)
Cash flow hedges and costs of hedging (including reclassifications)						396
Items that will not be reclassified to profit or loss
Costs of hedges that will subsequently be transferred to the balance sheet		(3)		(37)
Total comprehensive income		2		(43)		396
Cash flow hedges transferred to the balance sheet, net of tax		23		26
Equity outstanding, end of period		(752)		(777)		(760)
Costs of hedging
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period		(210)		0		0
Items that may be reclassified subsequently to profit or loss
Costs of hedging (including reclassifications), Net of tax		50		(173)
Items that will not be reclassified to profit or loss
Total comprehensive income		50		(173)
Equity outstanding, end of period		(160)		(210)		0
Total fair value reserves
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	(987)		(743)		(1,153)
Items that may be reclassified subsequently to profit or loss
Costs of hedging reclassified to the income statement						14
Costs of hedging (including reclassifications), Net of tax		55		(179)
Cash flow hedges and costs of hedging (including reclassifications)						396
Items that will not be reclassified to profit or loss
Costs of hedges that will subsequently be transferred to the balance sheet		(3)		(37)
Total comprehensive income	[1]	52		(216)		410
Cash flow hedges transferred to the balance sheet, net of tax		23	[1]	26
Equity outstanding, end of period	[1]	(912)		(987)		(743)
Profit and loss account
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	78,748		75,226		75,638
Profit for the year	[1]	4,026		9,383		3,389
Items that may be reclassified subsequently to profit or loss
Currency translation differences (including reclassifications)				0		(3)
Share of items relating to equity-accounted entities, net of tax		82		417		564
Other		(64)		7		(72)
Items that will not be reclassified to profit or loss
Remeasurements of the net pension and other post-retirement benefit liability or asset		171		1,599		2,343
Total comprehensive income	[1]	4,215		11,406		6,221
Dividends	[1],[4]	(6,929)		(6,699)		(6,153)
Repurchase of ordinary share capital	[1]	(1,511)		(355)		(343)
Share-based payments, net of tax	[1]	(809)		(718)		(798)
Share of equity-accounted entities’ changes in equity, net of tax	[1]	5		14		215
Transactions involving non-controlling interests, net of tax		316	[1]	0		446	[1]
Equity outstanding, end of period	[1]	73,706		78,748		75,226
BP shareholders’ equity
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	99,444		98,491		95,286
Profit for the year	[1]	4,026		9,383		3,389
Items that may be reclassified subsequently to profit or loss
Currency translation differences (including reclassifications)		2,407		(3,746)		1,719
Costs of hedging reclassified to the income statement						14
Costs of hedging (including reclassifications), Net of tax		55		(179)
Cash flow hedges and costs of hedging (including reclassifications)						396
Share of items relating to equity-accounted entities, net of tax		82		417		564
Other		(64)		7		(72)
Items that will not be reclassified to profit or loss
Remeasurements of the net pension and other post-retirement benefit liability or asset		171		1,599		2,343
Costs of hedges that will subsequently be transferred to the balance sheet		(3)		(37)
Total comprehensive income	[1]	6,674		7,444		8,353
Dividends	[1],[4]	(6,929)		(6,699)		(6,153)
Cash flow hedges transferred to the balance sheet, net of tax	[1]	23		26
Repurchase of ordinary share capital	[1]	(1,511)		(355)		(343)
Share-based payments, net of tax	[1]	719		703		687
Share of equity-accounted entities’ changes in equity, net of tax	[1]	5		14		215
Transactions involving non-controlling interests, net of tax		316	[1]	0		446	[1]
Equity outstanding, end of period	[1]	98,412		99,444		98,491
Non- controlling interests
Disclosure of reserves within equity [line items]
Equity outstanding, beginning of period	[1]	2,104		1,913		1,557
Profit for the year	[1]	164		195		79
Items that may be reclassified subsequently to profit or loss
Currency translation differences (including reclassifications)		9		(41)		52
Items that will not be reclassified to profit or loss
Total comprehensive income		173	[1]	154	[1]	131
Dividends	[1],[4]	(213)		(170)		(141)
Transactions involving non-controlling interests, net of tax	[1]	233		207		366
Equity outstanding, end of period	[1]	$ 2,296		2,104		$ 1,913
IPO | BP Midstream Partners LP
Items that will not be reclassified to profit or loss
Proceeds form issuance of equity				$ 811
Disposal Group, Disposed of by Sale
Disclosure of reserves within equity [line items]
Proportion of ownership interest in joint operation		49.00%
[1]	See Note 32 for further information.
[2]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.
[3]	See Note 32 for further information.
[4]	See Note 10 for further information.

Capital and reserves - Narrativ

Capital and reserves - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2013	Jan. 01, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of reserves within equity [line items]
Equity	[1]	$ 100,708		$ 101,218	$ 101,548	[2]	$ 100,224	$ 100,404	$ 96,843
Rosneft
Disclosure of reserves within equity [line items]
Ownership percentage in associate		19.75%	18.50%
Cash flow hedges
Disclosure of reserves within equity [line items]
Equity		$ (752)		$ (777)	$ (777)		$ (760)	$ (760)	$ (1,156)
Cash flow hedges | Rosneft
Disclosure of reserves within equity [line items]
Equity		$ 651
[1]	See Note 32 for further information.
[2]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Capital and reserves - Summary

Capital and reserves - Summary of pre-tax tax amounts of component of other comprehensive income (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pre-tax
Currency translation differences (including reclassifications), Pre-tax		$ 2,418	$ (3,771)	$ 1,866
Available-for-sale investments (including reclassifications), Pre-tax	[1]	0	0	14
Cash flow hedges (including reclassifications), pre-tax		6	(6)	425
Costs of hedging (including reclassifications), Pre-tax		53	(186)
Share of items relating to equity-accounted entities, net of tax, Pre-tax		82	417	564
Other, Pre-tax		0	0	0
Tax
Currency translation differences (including reclassifications), Tax		(2)	(16)	(95)
Cash flow hedges (including reclassifications), Tax		(1)	0	(29)
Costs of hedging (including reclassifications), Tax		(3)	13
Share of items relating to equity-accounted entities, net of tax, Tax		0	0	0
Other, Tax		(64)	7	(72)
Available-for-sale investments (including reclassifications), Tax				0
Currency translation differences (including reclassifications), Net of tax		2,416	(3,787)	1,771
Available-for-sale investments (including reclassifications), Net of tax				14
Cash flow hedges (including reclassifications), Net of tax		5	(6)	396
Costs of hedging (including reclassifications), Net of tax		50	(173)
Share of items relating to equity-accounted entities, net of tax, Net of tax	[1]	82	417	564
Other, Net of tax		(64)	7	(72)
Pre-tax
Remeasurements of the net pension and other post-retirement benefit liability or asset, Pre-tax	[1]	328	2,317	3,646
Cash flow hedges that will subsequently be transferred to the balance sheet, Pre-tax	[1]	(3)	(37)	0
Tax
Remeasurements of the net pension and other post-retirement benefit liability or asset, Tax		(157)	(718)	(1,303)
Cash flow hedges that will subsequently be transferred to the balance sheet, Tax		0	0
Remeasurements of the net pension and other post-retirement benefit liability or asset, Net of tax		171	1,599	2,343
Costs of hedges that will subsequently be transferred to the balance sheet		(3)	(37)
Other comprehensive income, Pre-tax		2,884	(1,266)	6,515
Other comprehensive income, Tax		(227)	(714)	(1,499)
Other comprehensive income	[1],[2]	$ 2,657	$ (1,980)	$ 5,016
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.

Remuneration of senior manage_3

Remuneration of senior management and non-executive directors - Remuneration of directors, senior managment, and non-executive directors (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Directors
Disclosure of transactions between related parties [line items]
Emoluments and short-term employee benefits	$ 9	$ 8	$ 9
Amounts received under incentive schemes and share-based payments	20	16	9
Total	29	24	18
Senior management and non-executive directors
Disclosure of transactions between related parties [line items]
Emoluments and short-term employee benefits	30	25	29
Pensions and other post-retirement benefits	2	2	2
Amounts received under incentive schemes and share-based payments	32	32	29
Total	$ 64	$ 59	$ 60

Remuneration of senior manage_4

Remuneration of senior management and non-executive directors - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)participant	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Executive director
Disclosure of transactions between related parties [line items]
Number of participants in a non-contributory pension scheme established for UK employees (participant)	1
Number of participants in a US defined benefit pension plan and retirement savings plan for US employees (participant)	1
Senior management and non-executive directors
Disclosure of transactions between related parties [line items]
Short term employee benefits, for loss of office | $	$ 0	$ 0	$ 0

Employee costs and numbers (Det

Employee costs and numbers (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)employee	Dec. 31, 2018USD ($)employee	Dec. 31, 2017USD ($)employee
Entity Information [Line Items]
Wages and salaries | $	$ 7,497	$ 7,931	$ 7,572
Social security costs | $	733	743	711
Share-based payments | $	694	669	624
Pension and other post-retirement benefit costs | $	948	1,154	1,296
Employee benefits expense | $	9,872	10,497	10,203
Termination payments | $	$ 182	$ 493	$ 189
Average number of employees (employee)	72,500	73,700	74,700
Reportable segments | Upstream
Entity Information [Line Items]
Average number of employees (employee)	16,800	17,400	18,400
Reportable segments | Downstream
Entity Information [Line Items]
Average number of employees (employee)	43,000	42,300	42,000
Other businesses and corporate
Entity Information [Line Items]
Average number of employees (employee)	12,700	14,000	14,300
Service station staff | Reportable segments | Downstream
Entity Information [Line Items]
Average number of employees (employee)	18,100	17,100	16,500
US
Entity Information [Line Items]
Average number of employees (employee)	13,600	13,800	14,200
US | Reportable segments | Upstream
Entity Information [Line Items]
Average number of employees (employee)	5,800	5,900	6,200
US | Reportable segments | Downstream
Entity Information [Line Items]
Average number of employees (employee)	5,700	6,000	6,100
US | Other businesses and corporate
Entity Information [Line Items]
Average number of employees (employee)	2,100	1,900	1,900
Non-US
Entity Information [Line Items]
Average number of employees (employee)	58,900	59,900	60,500
Non-US | Reportable segments | Upstream
Entity Information [Line Items]
Average number of employees (employee)	11,000	11,500	12,200
Non-US | Reportable segments | Downstream
Entity Information [Line Items]
Average number of employees (employee)	37,300	36,300	35,900
Non-US | Other businesses and corporate
Entity Information [Line Items]
Average number of employees (employee)	10,600	12,100	12,400
Brazil | Agricultural, operational and seasonal | Other businesses and corporate
Entity Information [Line Items]
Average number of employees (employee)	2,500	4,000	4,700

Auditor_s remuneration - Summar

Auditor’s remuneration - Summary of auditor's remuneration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Auditor's remuneration
The audit of the company annual accounts	$ 32	$ 25	$ 26
The audit of accounts of subsidiaries of the company	11	10	11
Total audit	43	35	37
Audit-related assurance services	4	4	7
Total audit and audit-related assurance services	47	39	44
Taxation compliance services	0	0	0
Non-audit and other assurance services	1	2	3
Total non-audit or non-audit-related assurance services	1	2	3
Services relating to BP pension plans	1	1	0
Auditor's remuneration	$ 49	$ 42	$ 47

Auditor_s remuneration - Narrat

Auditor’s remuneration - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Additional information [abstract]
Additional fees for prior year services	$ 3,600	$ 750
Auditor's remuneration	49,000	42,000	$ 47,000
Total audit expenses, excluding interim services	43,000	35,000	37,000
Interim audit-related assurance services	4,000	4,000	7,000
Taxation compliance services	0	0	0
Auditor's remuneration for corporate finance, services related to defined benefit plants, and non-audit and other assurance	$ 3,000	$ 3,000	$ 3,000

Subsidiaries, joint arrangeme_3

Subsidiaries, joint arrangements and associates - Disclosures of interests in subsidiaries, joint arrangements, and associates (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2013
Rosneft
Disclosure of subsidiaries [line items]
Ownership percentage in associate	19.75%	18.50%
BP Corporate Holdings
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration Operating Company
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Global Investments
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP International
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Oil International
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
Burmah Castrol
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration (Angola)
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration (Caspian Sea)
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration (Azerbaijan)
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Holdings Canada
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration (Delta)
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Europa SE
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration (Alpha)
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Trinidad and Tobago
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	70.00%
BP Capital Markets
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Holdings North America
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
Atlantic Richfield Company
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP America
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP America Production Company
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Company North America
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Corporation North America
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Exploration (Alaska)
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Products North America
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
Standard Oil Company
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%
BP Capital Markets America
Disclosure of subsidiaries [line items]
Ownership percentage in subsidiary	100.00%

Condensed consolidating infor_3

Condensed consolidating information on certain US subsidiaries - Narrative (Details)	12 Months Ended
	Dec. 31, 2019
BP Exploration (Alaska)
Disclosure Of Condensed Financial Statements [Line Items]
Ownership percentage in subsidiary	100.00%
BP Capital Markets p.l.c.
Disclosure Of Condensed Financial Statements [Line Items]
Ownership percentage in subsidiary	100.00%
BP Capital Markets America
Disclosure Of Condensed Financial Statements [Line Items]
Ownership percentage in subsidiary	100.00%

Condensed consolidating infor_4

Condensed consolidating information on certain US subsidiaries - Disclosure of condensed income statement (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Condensed Financial Statements [Line Items]
Sales and other operating revenues		$ 278,397	$ 298,756	$ 240,208
Earnings from joint ventures – after interest and tax		576	897	1,177
Earnings from associates – after interest and tax		2,681	2,856	1,330
Equity-accounted income of subsidiaries - after interest and tax		0	0	0
Interest and other income		769	773	657
Gains on sale of businesses and fixed assets		193	456	1,210
Total revenues and other income		282,616	303,738	244,582
Purchases		209,672	229,878	179,716
Production and manufacturing expenses		21,815	23,005	24,229
Production and similar taxes		1,547	1,536	1,775
Depreciation, depletion and amortization		17,780	15,457	15,584
Impairment and losses on sale of businesses and fixed assets		8,075	860	1,216
Exploration expense		964	1,445	2,080
Distribution and administration expenses		11,057	12,179	10,508
Profit before interest and taxation		11,706	19,378	9,474
Finance costs		3,489	2,528	2,074
Net finance expense relating to pensions and other post-retirement benefits		63	127	220
Profit (loss) before taxation		8,154	16,723	7,180
Taxation		3,964	7,145	3,712
Profit (loss) for the year	[1],[2]	4,190	9,578	3,468
Attributable to
BP shareholders		4,026	9,383	3,389
Non-controlling interests		164	195	79
Reportable Legal Entities | Issuer
Disclosure Of Condensed Financial Statements [Line Items]
Sales and other operating revenues		4,413	4,315	3,264
Earnings from joint ventures – after interest and tax		0	0	0
Earnings from associates – after interest and tax		0	0	0
Equity-accounted income of subsidiaries - after interest and tax		0	0	0
Interest and other income		42	42	11
Gains on sale of businesses and fixed assets		4	0	71
Total revenues and other income		4,459	4,357	3,346
Purchases		2,361	1,507	1,010
Production and manufacturing expenses		907	1,015	1,156
Production and similar taxes		163	282	(18)
Depreciation, depletion and amortization		169	377	735
Impairment and losses on sale of businesses and fixed assets		747	66	0
Exploration expense		0	0	0
Distribution and administration expenses		75	22	19
Profit before interest and taxation		37	1,088	444
Finance costs		17	8	6
Net finance expense relating to pensions and other post-retirement benefits		0	0	0
Profit (loss) before taxation		20	1,080	438
Taxation		(40)	164	(392)
Profit (loss) for the year		60	916	830
Attributable to
BP shareholders		60	916	830
Non-controlling interests		0	0	0
Reportable Legal Entities | Guarantor
Disclosure Of Condensed Financial Statements [Line Items]
Sales and other operating revenues		0	0	0
Earnings from joint ventures – after interest and tax		0	0	0
Earnings from associates – after interest and tax		0	0	0
Equity-accounted income of subsidiaries - after interest and tax		5,916	10,942	4,436
Interest and other income		385	373	369
Gains on sale of businesses and fixed assets		0	0	9
Total revenues and other income		6,301	11,315	4,814
Purchases		0	0	0
Production and manufacturing expenses		0	0	0
Production and similar taxes		0	0	0
Depreciation, depletion and amortization		0	0	0
Impairment and losses on sale of businesses and fixed assets		0	0	0
Exploration expense		0	0	0
Distribution and administration expenses		803	642	616
Profit before interest and taxation		5,498	10,673	4,198
Finance costs		1,569	1,326	826
Net finance expense relating to pensions and other post-retirement benefits		(153)	(95)	(15)
Profit (loss) before taxation		4,082	9,442	3,387
Taxation		56	59	(11)
Profit (loss) for the year		4,026	9,383	3,398
Attributable to
BP shareholders		4,026	9,383	3,398
Non-controlling interests		0	0	0
Reportable Legal Entities | Other subsidiaries
Disclosure Of Condensed Financial Statements [Line Items]
Sales and other operating revenues		278,111	298,620	240,177
Earnings from joint ventures – after interest and tax		576	897	1,177
Earnings from associates – after interest and tax		2,681	2,856	1,330
Equity-accounted income of subsidiaries - after interest and tax		0	0	0
Interest and other income		2,284	2,081	1,470
Gains on sale of businesses and fixed assets		189	456	1,139
Total revenues and other income		283,841	304,910	245,293
Purchases		211,438	232,550	181,939
Production and manufacturing expenses		20,908	21,990	23,073
Production and similar taxes		1,384	1,254	1,793
Depreciation, depletion and amortization		17,611	15,080	14,849
Impairment and losses on sale of businesses and fixed assets		7,328	794	1,216
Exploration expense		964	1,445	2,080
Distribution and administration expenses		10,333	11,673	10,022
Profit before interest and taxation		13,875	20,124	10,321
Finance costs		3,691	2,759	2,286
Net finance expense relating to pensions and other post-retirement benefits		216	222	235
Profit (loss) before taxation		9,968	17,143	7,800
Taxation		3,948	6,922	4,115
Profit (loss) for the year		6,020	10,221	3,685
Attributable to
BP shareholders		5,856	10,026	3,606
Non-controlling interests		164	195	79
Eliminations and reclassifications
Disclosure Of Condensed Financial Statements [Line Items]
Sales and other operating revenues		(4,127)	(4,179)	(3,233)
Earnings from joint ventures – after interest and tax		0	0	0
Earnings from associates – after interest and tax		0	0	0
Equity-accounted income of subsidiaries - after interest and tax		(5,916)	(10,942)	(4,436)
Interest and other income		(1,942)	(1,723)	(1,193)
Gains on sale of businesses and fixed assets		0	0	(9)
Total revenues and other income		(11,985)	(16,844)	(8,871)
Purchases		(4,127)	(4,179)	(3,233)
Production and manufacturing expenses		0	0	0
Production and similar taxes		0	0	0
Depreciation, depletion and amortization		0	0	0
Impairment and losses on sale of businesses and fixed assets		0	0	0
Exploration expense		0	0	0
Distribution and administration expenses		(154)	(158)	(149)
Profit before interest and taxation		(7,704)	(12,507)	(5,489)
Finance costs		(1,788)	(1,565)	(1,044)
Net finance expense relating to pensions and other post-retirement benefits		0	0	0
Profit (loss) before taxation		(5,916)	(10,942)	(4,445)
Taxation		0	0	0
Profit (loss) for the year		(5,916)	(10,942)	(4,445)
Attributable to
BP shareholders		(5,916)	(10,942)	(4,445)
Non-controlling interests		$ 0	$ 0	$ 0
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.

Condensed consolidating infor_5

Condensed consolidating information on certain US subsidiaries - Disclosure of condensed statement of comprehensive income (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Condensed Financial Statements [Line Items]
Profit for the year	[1],[2]	$ 4,190	$ 9,578	$ 3,468
Currency translation differences	[1]	1,538	(3,771)	1,986
Cash flow hedges (including reclassifications)		6	(6)	425
Costs of hedging marked to market	[1]	(4)	(244)	0
Costs of hedging reclassified to the income statement	[1]	57	58	0
Costs of hedging (including reclassifications)		53	(186)
Exchange (gains) losses on translation of foreign operations reclassified to gain or loss on sale of businesses and fixed assets	[1]	880	0	(120)
Available-for-sale investments	[1]	0	0	14
Cash flow hedges marked to market	[1]	(100)	(126)	197
Cash flow hedges reclassified to the income statement	[1]	106	120	116
Cash flow hedges reclassified to the balance sheet	[1]	0	0	112
Share of items relating to equity-accounted entities, net of tax	[1]	82	417	564
Income tax relating to items that may be reclassified	[1]	(70)	4	(196)
Total items that may be reclassified subsequently to profit or loss	[1]	2,489	(3,542)	2,673
Remeasurements of the net pension and other post-retirement benefit liability or asset	[1]	328	2,317	3,646
Cash flow hedges that will subsequently be transferred to the balance sheet	[1]	(3)	(37)	0
Income tax relating to items that will not be reclassified	[1]	(157)	(718)	(1,303)
Other comprehensive income that will not be reclassified to profit or loss, net of tax	[1]	168	1,562	2,343
Other comprehensive income	[1],[2]	2,657	(1,980)	5,016
Equity-accounted other comprehensive income of subsidiaries		0	0	0
Total comprehensive income	[1],[2]	6,847	7,598	8,484
Attributable to
BP shareholders	[1]	6,674	7,444	8,353
Non-controlling interests	[1]	173	154	131
Reportable Legal Entities | Issuer
Disclosure Of Condensed Financial Statements [Line Items]
Profit for the year		60	916	830
Currency translation differences		0	0	0
Cash flow hedges (including reclassifications)			0
Costs of hedging marked to market		0
Costs of hedging reclassified to the income statement		0
Costs of hedging (including reclassifications)			0
Exchange (gains) losses on translation of foreign operations reclassified to gain or loss on sale of businesses and fixed assets		0		0
Available-for-sale investments				0
Cash flow hedges marked to market		0		0
Cash flow hedges reclassified to the income statement		0		0
Cash flow hedges reclassified to the balance sheet				0
Share of items relating to equity-accounted entities, net of tax		0	0	0
Income tax relating to items that may be reclassified		0	0	0
Total items that may be reclassified subsequently to profit or loss		0	0	0
Remeasurements of the net pension and other post-retirement benefit liability or asset		0	0	0
Cash flow hedges that will subsequently be transferred to the balance sheet		0	0
Income tax relating to items that will not be reclassified		0	0	0
Other comprehensive income that will not be reclassified to profit or loss, net of tax		0	0	0
Other comprehensive income		0	0	0
Equity-accounted other comprehensive income of subsidiaries		0	0	0
Total comprehensive income		60	916	830
Attributable to
BP shareholders		60	916	830
Non-controlling interests		0	0	0
Reportable Legal Entities | Guarantor
Disclosure Of Condensed Financial Statements [Line Items]
Profit for the year		4,026	9,383	3,398
Currency translation differences		200	(296)	166
Cash flow hedges (including reclassifications)			0
Costs of hedging marked to market		0
Costs of hedging reclassified to the income statement		0
Costs of hedging (including reclassifications)			0
Exchange (gains) losses on translation of foreign operations reclassified to gain or loss on sale of businesses and fixed assets		0		0
Available-for-sale investments				0
Cash flow hedges marked to market		0		0
Cash flow hedges reclassified to the income statement		0		0
Cash flow hedges reclassified to the balance sheet				0
Share of items relating to equity-accounted entities, net of tax		0	0	0
Income tax relating to items that may be reclassified		0	0	0
Total items that may be reclassified subsequently to profit or loss		200	(296)	166
Remeasurements of the net pension and other post-retirement benefit liability or asset		732	1,689	2,984
Cash flow hedges that will subsequently be transferred to the balance sheet		0	0
Income tax relating to items that will not be reclassified		(331)	(511)	(1,169)
Other comprehensive income that will not be reclassified to profit or loss, net of tax		401	1,178	1,815
Other comprehensive income		601	882	1,981
Equity-accounted other comprehensive income of subsidiaries		2,047	(2,821)	2,983
Total comprehensive income		6,674	7,444	8,362
Attributable to
BP shareholders		6,674	7,444	8,362
Non-controlling interests		0	0	0
Reportable Legal Entities | Other subsidiaries
Disclosure Of Condensed Financial Statements [Line Items]
Profit for the year		6,020	10,221	3,685
Currency translation differences		1,338	(3,475)	1,820
Cash flow hedges (including reclassifications)			(6)
Costs of hedging marked to market		(4)
Costs of hedging reclassified to the income statement		57
Costs of hedging (including reclassifications)			(186)
Exchange (gains) losses on translation of foreign operations reclassified to gain or loss on sale of businesses and fixed assets		880		(120)
Available-for-sale investments				14
Cash flow hedges marked to market		(100)		197
Cash flow hedges reclassified to the income statement		106		116
Cash flow hedges reclassified to the balance sheet				112
Share of items relating to equity-accounted entities, net of tax		82	417	564
Income tax relating to items that may be reclassified		(70)	4	(196)
Total items that may be reclassified subsequently to profit or loss		2,289	(3,246)	2,507
Remeasurements of the net pension and other post-retirement benefit liability or asset		(404)	628	662
Cash flow hedges that will subsequently be transferred to the balance sheet		(3)	(37)
Income tax relating to items that will not be reclassified		174	(207)	(134)
Other comprehensive income that will not be reclassified to profit or loss, net of tax		(233)	384	528
Other comprehensive income		2,056	(2,862)	3,035
Equity-accounted other comprehensive income of subsidiaries		0	0	0
Total comprehensive income		8,076	7,359	6,720
Attributable to
BP shareholders		7,903	7,205	6,589
Non-controlling interests		173	154	131
Eliminations and reclassifications
Disclosure Of Condensed Financial Statements [Line Items]
Profit for the year		(5,916)	(10,942)	(4,445)
Currency translation differences		0	0	0
Cash flow hedges (including reclassifications)			0
Costs of hedging marked to market		0
Costs of hedging reclassified to the income statement		0
Costs of hedging (including reclassifications)			0
Exchange (gains) losses on translation of foreign operations reclassified to gain or loss on sale of businesses and fixed assets		0		0
Available-for-sale investments				0
Cash flow hedges marked to market		0		0
Cash flow hedges reclassified to the income statement		0		0
Cash flow hedges reclassified to the balance sheet				0
Share of items relating to equity-accounted entities, net of tax		0	0	0
Income tax relating to items that may be reclassified		0	0	0
Total items that may be reclassified subsequently to profit or loss		0	0	0
Remeasurements of the net pension and other post-retirement benefit liability or asset		0	0	0
Cash flow hedges that will subsequently be transferred to the balance sheet		0	0
Income tax relating to items that will not be reclassified		0	0	0
Other comprehensive income that will not be reclassified to profit or loss, net of tax		0	0	0
Other comprehensive income		0	0	0
Equity-accounted other comprehensive income of subsidiaries		(2,047)	2,821	(2,983)
Total comprehensive income		(7,963)	(8,121)	(7,428)
Attributable to
BP shareholders		(7,963)	(8,121)	(7,428)
Non-controlling interests		$ 0	$ 0	$ 0
[1]	See Note 32 for further information.
[2]	See Note 32 for further information.

Condensed consolidating infor_6

Condensed consolidating information on certain US subsidiaries - Disclosure of condensed balance sheet (Details) - USD ($) $ in Millions		Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Non-current assets
Property, plant and equipment		$ 132,642	$ 143,950	$ 135,261	[1]
Goodwill		11,868		12,204	[1]
Intangible assets		15,539		17,284	[1]		$ 18,355
Investments in joint ventures		9,991		8,647	[1]
Investments in associates		20,334		17,673	[1]
Other investments		1,276		1,341	[1]
Subsidiaries - equity-accounted basis		0		0
Fixed assets		191,650		192,410	[1]
Loans		630		637	[1]
Trade and other receivables		2,147	2,159	1,834	[1]
Derivative financial instruments		6,314		5,145	[1]
Prepayments		781	849	1,179	[1]
Deferred tax assets		4,560	3,736	3,706	[1]
Defined benefit pension plan surpluses		7,053		5,955	[1]
Non-current assets		213,135		210,866	[1]
Current assets
Loans		339		326	[1]
Inventories		20,880		17,988	[1]
Trade and other receivables		24,442	24,673	24,478	[1]
Derivative financial instruments		4,153		3,846	[1]
Prepayments		857	872	963	[1]
Current tax receivable		1,282		1,019	[1]
Other investments		169		222	[1]
Cash and cash equivalents		22,472		22,468	[1]	$ 25,575	25,586	$ 23,484
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		74,594		71,310	[1]
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners		7,465		0
Current assets		82,059		71,310
Total assets		295,194		282,176	[1]
Current liabilities
Trade and other payables		46,829	46,209	46,265	[1]
Derivative financial instruments		3,261		3,308	[1]
Accruals		5,066	4,578	4,626	[1]
Current lease liabilities		2,067	2,196	44	[1]
Finance debta		10,487	9,329	9,329
Current tax payable		2,039		2,101	[1]
Provisions		2,453	2,547	2,564	[1]
Current liabilities other than liabilities included in disposal groups classified as held for sale		72,202		68,237	[1]
Non-current liabilities
Other payables		12,626	14,013	13,830	[1]
Derivative financial instruments		5,537		5,625	[1]
Accruals		996	548	575	[1]
Non-current lease liabilities		7,655	7,704	623	[1]
Finance debta		57,237	55,803	55,803	[1]
Deferred tax liabilities		9,750	9,767	9,812	[1]
Provisions		18,498	17,657	17,732	[1]
Defined benefit pension plan and other post-retirement benefit plan deficits		8,592		8,391	[1]
Non-current liabilities		120,891		112,391	[1]
Liabilities included in disposal groups classified as held for sale		1,393		0
Current liabilities		73,595		68,237	[1]
Total liabilities		194,486		180,628	[1]
Net assets		100,708	101,218	101,548	[1]
Equity
BP shareholders’ equity		98,412	99,115	99,444	[1]
Non-controlling interests		2,296	2,103	2,104	[1]
Total equity	[2]	100,708	$ 101,218	101,548	[1]	100,224	100,404	96,843
Reportable Legal Entities | Issuer
Non-current assets
Property, plant and equipment		0		4,445
Goodwill		0		0
Intangible assets		0		598
Investments in joint ventures		0		0
Investments in associates		0		0
Other investments		0		0
Subsidiaries - equity-accounted basis		0		0
Fixed assets		0		5,043
Loans		0		0
Trade and other receivables		0		0
Derivative financial instruments		0		0
Prepayments		0		0
Deferred tax assets		0		0
Defined benefit pension plan surpluses		0		0
Non-current assets		0		5,043
Current assets
Loans		0		0
Inventories		44		302
Trade and other receivables		690		2,536
Derivative financial instruments		0		0
Prepayments		0		7
Current tax receivable		45		0
Other investments		0		0
Cash and cash equivalents		0		0		0	0	0
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		779		2,845
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners		5,023
Current assets		5,802
Total assets		5,802		7,888
Current liabilities
Trade and other payables		436		413
Derivative financial instruments		0		0
Accruals		347		89
Current lease liabilities		0		0
Finance debta		0		0
Current tax payable		0		310
Provisions		0		1
Current liabilities other than liabilities included in disposal groups classified as held for sale		783
Non-current liabilities
Other payables		0		0
Derivative financial instruments		0		0
Accruals		0		0
Non-current lease liabilities		0		0
Finance debta		0		0
Deferred tax liabilities		456		586
Provisions		114		670
Defined benefit pension plan and other post-retirement benefit plan deficits		0		0
Non-current liabilities		570		1,256
Liabilities included in disposal groups classified as held for sale		706
Current liabilities		1,489		813
Total liabilities		2,059		2,069
Net assets		3,743		5,819
Equity
BP shareholders’ equity		3,743		5,819
Non-controlling interests		0		0
Total equity		3,743		5,819
Reportable Legal Entities | Guarantor
Non-current assets
Property, plant and equipment		0		0
Goodwill		0		0
Intangible assets		0		0
Investments in joint ventures		0		0
Investments in associates		2		2
Other investments		0		0
Subsidiaries - equity-accounted basis		167,895		166,311
Fixed assets		167,897		166,313
Loans		0		0
Trade and other receivables		2,771		2,600
Derivative financial instruments		0		0
Prepayments		0		0
Deferred tax assets		0		0
Defined benefit pension plan surpluses		6,588		5,473
Non-current assets		177,256		174,386
Current assets
Loans		0		0
Inventories		0		0
Trade and other receivables		135		151
Derivative financial instruments		0		0
Prepayments		0		0
Current tax receivable		0		0
Other investments		0		0
Cash and cash equivalents		0		13		10	10	50
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		135		164
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Current assets		135
Total assets		177,391		174,550
Current liabilities
Trade and other payables		17,986		14,634
Derivative financial instruments		0		0
Accruals		21		31
Current lease liabilities		0		0
Finance debta		0		0
Current tax payable		0		0
Provisions		0		0
Current liabilities other than liabilities included in disposal groups classified as held for sale		18,007
Non-current liabilities
Other payables		31,927		31,800
Derivative financial instruments		0		0
Accruals		0		0
Non-current lease liabilities		0		0
Finance debta		0		0
Deferred tax liabilities		2,293		1,907
Provisions		0		0
Defined benefit pension plan and other post-retirement benefit plan deficits		202		184
Non-current liabilities		34,422		33,891
Liabilities included in disposal groups classified as held for sale		0
Current liabilities		18,007		14,665
Total liabilities		52,429		48,556
Net assets		124,962		125,994
Equity
BP shareholders’ equity		124,962		125,994
Non-controlling interests		0		0
Total equity		124,962		125,994
Reportable Legal Entities | Other subsidiaries
Non-current assets
Property, plant and equipment		132,642		130,816
Goodwill		11,868		12,204
Intangible assets		15,539		16,686
Investments in joint ventures		9,991		8,647
Investments in associates		20,332		17,671
Other investments		1,276		1,341
Subsidiaries - equity-accounted basis		0		0
Fixed assets		191,648		187,365
Loans		32,524		32,402
Trade and other receivables		2,147		1,834
Derivative financial instruments		6,314		5,145
Prepayments		781		1,179
Deferred tax assets		4,560		3,706
Defined benefit pension plan surpluses		465		482
Non-current assets		238,439		232,113
Current assets
Loans		339		326
Inventories		20,836		17,686
Trade and other receivables		42,157		38,931
Derivative financial instruments		4,153		3,846
Prepayments		857		956
Current tax receivable		1,237		1,019
Other investments		169		222
Cash and cash equivalents		22,472		22,455		25,565	25,576	23,434
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		92,220		85,441
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners		2,442
Current assets		94,662
Total assets		333,101		317,554
Current liabilities
Trade and other payables		46,947		48,358
Derivative financial instruments		3,261		3,308
Accruals		4,698		4,506
Current lease liabilities		2,067		44
Finance debta		10,487		9,329
Current tax payable		2,039		1,791
Provisions		2,453		2,563
Current liabilities other than liabilities included in disposal groups classified as held for sale		71,952
Non-current liabilities
Other payables		15,364		16,395
Derivative financial instruments		5,537		5,625
Accruals		996		575
Non-current lease liabilities		7,655		623
Finance debta		57,237		55,803
Deferred tax liabilities		7,001		7,319
Provisions		18,384		17,062
Defined benefit pension plan and other post-retirement benefit plan deficits		8,390		8,207
Non-current liabilities		120,564		111,609
Liabilities included in disposal groups classified as held for sale		687
Current liabilities		72,639		69,899
Total liabilities		193,203		181,508
Net assets		139,898		136,046
Equity
BP shareholders’ equity		137,602		133,942
Non-controlling interests		2,296		2,104
Total equity		139,898		136,046
Eliminations and reclassifications
Non-current assets
Property, plant and equipment		0		0
Goodwill		0		0
Intangible assets		0		0
Investments in joint ventures		0		0
Investments in associates		0		0
Other investments		0		0
Subsidiaries - equity-accounted basis		(167,895)		(166,311)
Fixed assets		(167,895)		(166,311)
Loans		(31,894)		(31,765)
Trade and other receivables		(2,771)		(2,600)
Derivative financial instruments		0		0
Prepayments		0		0
Deferred tax assets		0		0
Defined benefit pension plan surpluses		0		0
Non-current assets		(202,560)		(200,676)
Current assets
Loans		0		0
Inventories		0		0
Trade and other receivables		(18,540)		(17,140)
Derivative financial instruments		0		0
Prepayments		0		0
Current tax receivable		0		0
Other investments		0		0
Cash and cash equivalents		0		0		$ 0	$ 0	$ 0
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		(18,540)		(17,140)
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Current assets		(18,540)
Total assets		(221,100)		(217,816)
Current liabilities
Trade and other payables		(18,540)		(17,140)
Derivative financial instruments		0		0
Accruals		0		0
Current lease liabilities		0		0
Finance debta		0		0
Current tax payable		0		0
Provisions		0		0
Current liabilities other than liabilities included in disposal groups classified as held for sale		(18,540)
Non-current liabilities
Other payables		(34,665)		(34,365)
Derivative financial instruments		0		0
Accruals		0		0
Non-current lease liabilities		0		0
Finance debta		0		0
Deferred tax liabilities		0		0
Provisions		0		0
Defined benefit pension plan and other post-retirement benefit plan deficits		0		0
Non-current liabilities		(34,665)		(34,365)
Liabilities included in disposal groups classified as held for sale		0
Current liabilities		(18,540)		(17,140)
Total liabilities		(53,205)		(51,505)
Net assets		(167,895)		(166,311)
Equity
BP shareholders’ equity		(167,895)		(166,311)
Non-controlling interests		0		0
Total equity		$ (167,895)		$ (166,311)
[1]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.
[2]	See Note 32 for further information.

Condensed consolidating infor_7

Condensed consolidating information on certain US subsidiaries - Disclosure of condensed cash flow statement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure Of Condensed Financial Statements [Line Items]
Profit before taxation	$ 8,154		$ 16,723		$ 7,180
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off	631		1,085		1,603
Depreciation, depletion and amortization	17,780		15,457		15,584
Impairment and (gain) loss on sale of businesses and fixed assets	7,882		404		6
Earnings from joint ventures and associates	(3,257)		(3,753)		(2,507)
Dividends received from joint ventures and associates	1,962		1,535		1,253
Equity accounted income of subsidiaries - after interest and tax	0		0		0
Dividends received from (paid to) subsidiaries	0		0		0
Interest receivable	(441)		(468)		(304)
Interest received	416		348		375
Finance costs	3,489		2,528		2,074
Interest paid	(2,870)		(1,928)		(1,572)
Net finance expense relating to pensions and other post-retirement benefits	63		127		220
Share-based payments	730		690		661
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans	(238)		(386)		(394)
Net charge for provisions, less payments	(176)		986		2,106
(Increase) decrease in inventories	(3,406)		672		(848)
(Increase) decrease in other current and non-current assets	(2,335)		(2,858)		(4,848)
Increase (decrease) in other current and non-current liabilities	2,823		(2,577)		2,344
Income taxes paid	(5,437)		(5,712)		(4,002)
Net cash provided by (used in) operating activities	25,770		22,873		18,931
Investing activities
Expenditure on property, plant and equipment, intangible and other assets	(15,418)		(16,707)		(16,562)
Acquisitions, net of cash acquired	(3,562)		(6,986)		(327)
Investment in joint ventures	(137)		(382)		(50)
Investment in associates	(304)		(1,013)		(901)
Total cash capital expenditure	19,421		25,088		17,840
Proceeds from disposals of fixed assets	500		940		2,936
Proceeds from disposals of businesses, net of cash disposed	1,701		1,911		478
Proceeds from loan repayments	246		666		349
Net cash used in investing activities	(16,974)		(21,571)		(14,077)
Financing activitiesa
Repurchase of shares	(1,511)		(355)	[1]	(343)	[1]
Payments of lease liabilities, classified as financing activities	(2,372)		(35)	[1]	(45)	[1]
Proceeds from long-term financing	8,597		9,038	[1]	8,712	[1]
Repayments of long-term financing	(7,118)		(7,175)	[1]	(6,231)	[1]
Net increase (decrease) in short-term debt	180		1,317	[1]	(158)	[1]
Net increase (decrease) in non-controlling interests	566		0	[1]	1,063	[1]
BP shareholders	(6,946)		(6,699)	[1]	(6,153)	[1]
Non-controlling interests	(213)		(170)	[1]	(141)	[1]
Net cash provided by (used in) financing activities	(8,817)		(4,079)	[1]	(3,296)	[1]
Currency translation differences relating to cash and cash equivalents	25		(330)		544
Increase (decrease) in cash and cash equivalents	4		(3,107)		2,102
Cash and cash equivalents at beginning of year	22,468	[2]	25,586		23,484
Cash and cash equivalents at end of year	22,472		22,468	[2]	25,586
Reportable Legal Entities | Issuer
Disclosure Of Condensed Financial Statements [Line Items]
Profit before taxation	20		1,080		438
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off	0		0		0
Depreciation, depletion and amortization	169		377		735
Impairment and (gain) loss on sale of businesses and fixed assets	743		66		(71)
Earnings from joint ventures and associates	0		0		0
Dividends received from joint ventures and associates	0		0		0
Equity accounted income of subsidiaries - after interest and tax	0		0		0
Dividends received from (paid to) subsidiaries	0		0		0
Interest receivable	(1)		(42)		(11)
Interest received	1		42		11
Finance costs	17		8		6
Interest paid	(6)		(8)		(6)
Net finance expense relating to pensions and other post-retirement benefits	0		0		0
Share-based payments	0		0		0
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans	0		0		0
Net charge for provisions, less payments	21		33		(128)
(Increase) decrease in inventories	(31)		(62)		(25)
(Increase) decrease in other current and non-current assets	(132)		(72)		108
Increase (decrease) in other current and non-current liabilities	1,954		(491)		(830)
Income taxes paid	(444)		(133)		0
Net cash provided by (used in) operating activities	2,311		798		227
Investing activities
Expenditure on property, plant and equipment, intangible and other assets	(173)		(273)		(321)
Acquisitions, net of cash acquired	0		0		0
Investment in joint ventures	0		0		0
Investment in associates	0		0		0
Total cash capital expenditure	173		273		321
Proceeds from disposals of fixed assets	19		0		94
Proceeds from disposals of businesses, net of cash disposed	0		1,475		0
Proceeds from loan repayments	21		0		0
Net cash used in investing activities	(133)		1,202		(227)
Financing activitiesa
Repurchase of shares	0		0		0
Payments of lease liabilities, classified as financing activities	(46)		0		0
Proceeds from long-term financing	0		0		0
Repayments of long-term financing	0		0		0
Net increase (decrease) in short-term debt	0		0		0
Net increase (decrease) in non-controlling interests	0				0
BP shareholders	(2,132)		(2,000)		0
Non-controlling interests	0		0		0
Net cash provided by (used in) financing activities	(2,178)		(2,000)		0
Currency translation differences relating to cash and cash equivalents	0		0		0
Increase (decrease) in cash and cash equivalents	0		0		0
Cash and cash equivalents at beginning of year	0		0		0
Cash and cash equivalents at end of year	0		0		0
Reportable Legal Entities | Guarantor
Disclosure Of Condensed Financial Statements [Line Items]
Profit before taxation	4,082		9,442		3,387
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off	0		0		0
Depreciation, depletion and amortization	0		0		0
Impairment and (gain) loss on sale of businesses and fixed assets	0		0		(9)
Earnings from joint ventures and associates	0		0		0
Dividends received from joint ventures and associates	0		0		0
Equity accounted income of subsidiaries - after interest and tax	(5,916)		(10,942)		(4,436)
Dividends received from (paid to) subsidiaries	6,360		3,490		3,183
Interest receivable	0		(215)		(220)
Interest received	12		215		220
Finance costs	0		1,326		826
Interest paid	0		(1,326)		(826)
Net finance expense relating to pensions and other post-retirement benefits	(153)		(95)		(15)
Share-based payments	739		671		595
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans	(10)		(183)		(145)
Net charge for provisions, less payments	0		0		0
(Increase) decrease in inventories	0		0		0
(Increase) decrease in other current and non-current assets	(155)		165		522
Increase (decrease) in other current and non-current liabilities	3,469		4,509		3,374
Income taxes paid	(1)		0		0
Net cash provided by (used in) operating activities	8,427		7,057		6,456
Investing activities
Expenditure on property, plant and equipment, intangible and other assets	0		0		0
Acquisitions, net of cash acquired	0		0		0
Investment in joint ventures	0		0		0
Investment in associates	0		0		0
Total cash capital expenditure	0		0		0
Proceeds from disposals of fixed assets	0		0		0
Proceeds from disposals of businesses, net of cash disposed	0		0		0
Proceeds from loan repayments	0		0		0
Net cash used in investing activities	0		0		0
Financing activitiesa
Repurchase of shares	(1,511)		(355)		(343)
Payments of lease liabilities, classified as financing activities	0		0		0
Proceeds from long-term financing	0		0		0
Repayments of long-term financing	0		0		0
Net increase (decrease) in short-term debt	0		0		0
Net increase (decrease) in non-controlling interests	0				0
BP shareholders	(6,929)		(6,699)		(6,153)
Non-controlling interests	0		0		0
Net cash provided by (used in) financing activities	(8,440)		(7,054)		(6,496)
Currency translation differences relating to cash and cash equivalents	0		0		0
Increase (decrease) in cash and cash equivalents	(13)		3		(40)
Cash and cash equivalents at beginning of year	13		10		50
Cash and cash equivalents at end of year	0		13		10
Reportable Legal Entities | Other subsidiaries
Disclosure Of Condensed Financial Statements [Line Items]
Profit before taxation	9,968		17,143		7,800
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off	631		1,085		1,603
Depreciation, depletion and amortization	17,611		15,080		14,849
Impairment and (gain) loss on sale of businesses and fixed assets	7,139		338		77
Earnings from joint ventures and associates	(3,257)		(3,753)		(2,507)
Dividends received from joint ventures and associates	1,962		1,535		1,253
Equity accounted income of subsidiaries - after interest and tax	0		0		0
Dividends received from (paid to) subsidiaries	0		0		0
Interest receivable	(2,228)		(1,776)		(1,117)
Interest received	2,191		1,656		1,188
Finance costs	5,260		2,759		2,286
Interest paid	(4,652)		(2,159)		(1,784)
Net finance expense relating to pensions and other post-retirement benefits	216		222		235
Share-based payments	(9)		19		66
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans	(228)		(203)		(249)
Net charge for provisions, less payments	(197)		953		2,234
(Increase) decrease in inventories	(3,375)		734		(823)
(Increase) decrease in other current and non-current assets	(2,048)		(951)		(5,478)
Increase (decrease) in other current and non-current liabilities	(2,600)		(6,595)		(200)
Income taxes paid	(4,992)		(5,579)		(4,002)
Net cash provided by (used in) operating activities	21,392		20,508		15,431
Investing activities
Expenditure on property, plant and equipment, intangible and other assets	(15,245)		(16,434)		(16,241)
Acquisitions, net of cash acquired	(3,562)		(6,986)		(327)
Investment in joint ventures	(137)		(382)		(50)
Investment in associates	(304)		(1,013)		(901)
Total cash capital expenditure	19,248		24,815		17,519
Proceeds from disposals of fixed assets	481		940		2,842
Proceeds from disposals of businesses, net of cash disposed	1,701		436		478
Proceeds from loan repayments	225		666		349
Net cash used in investing activities	(16,841)		(22,773)		(13,850)
Financing activitiesa
Repurchase of shares	0		0		0
Payments of lease liabilities, classified as financing activities	(2,326)		(35)		(45)
Proceeds from long-term financing	8,597		9,038		8,712
Repayments of long-term financing	(7,118)		(7,175)		(6,231)
Net increase (decrease) in short-term debt	180		1,317		(158)
Net increase (decrease) in non-controlling interests	566				1,063
BP shareholders	(4,245)		(3,490)		(3,183)
Non-controlling interests	(213)		(170)		(141)
Net cash provided by (used in) financing activities	(4,559)		(515)		17
Currency translation differences relating to cash and cash equivalents	25		(330)		544
Increase (decrease) in cash and cash equivalents	17		(3,110)		2,142
Cash and cash equivalents at beginning of year	22,455		25,576		23,434
Cash and cash equivalents at end of year	22,472		22,455		25,576
Eliminations and reclassifications
Disclosure Of Condensed Financial Statements [Line Items]
Profit before taxation	(5,916)		(10,942)		(4,445)
Adjustments to reconcile profit before taxation to net cash provided by operating activities
Exploration expenditure written off	0		0		0
Depreciation, depletion and amortization	0		0		0
Impairment and (gain) loss on sale of businesses and fixed assets	0		0		9
Earnings from joint ventures and associates	0		0		0
Dividends received from joint ventures and associates	0		0		0
Equity accounted income of subsidiaries - after interest and tax	5,916		10,942		4,436
Dividends received from (paid to) subsidiaries	(6,360)		(3,490)		(3,183)
Interest receivable	1,788		1,565		1,044
Interest received	(1,788)		(1,565)		(1,044)
Finance costs	(1,788)		(1,565)		(1,044)
Interest paid	1,788		1,565		1,044
Net finance expense relating to pensions and other post-retirement benefits	0		0		0
Share-based payments	0		0		0
Net operating charge for pensions and other post-retirement benefits, less contributions and benefit payments for unfunded plans	0		0		0
Net charge for provisions, less payments	0		0		0
(Increase) decrease in inventories	0		0		0
(Increase) decrease in other current and non-current assets	0		(2,000)		0
Increase (decrease) in other current and non-current liabilities	0		0		0
Income taxes paid	0		0		0
Net cash provided by (used in) operating activities	(6,360)		(5,490)		(3,183)
Investing activities
Expenditure on property, plant and equipment, intangible and other assets	0		0		0
Acquisitions, net of cash acquired	0		0		0
Investment in joint ventures	0		0		0
Investment in associates	0		0		0
Total cash capital expenditure	0		0		0
Proceeds from disposals of fixed assets	0		0		0
Proceeds from disposals of businesses, net of cash disposed	0		0		0
Proceeds from loan repayments	0		0		0
Net cash used in investing activities	0		0		0
Financing activitiesa
Repurchase of shares	0		0		0
Payments of lease liabilities, classified as financing activities	0		0		0
Proceeds from long-term financing	0		0		0
Repayments of long-term financing	0		0		0
Net increase (decrease) in short-term debt	0		0		0
Net increase (decrease) in non-controlling interests	0				0
BP shareholders	6,360		5,490		3,183
Non-controlling interests	0		0		0
Net cash provided by (used in) financing activities	6,360		5,490		3,183
Currency translation differences relating to cash and cash equivalents	0		0		0
Increase (decrease) in cash and cash equivalents	0		0		0
Cash and cash equivalents at beginning of year	0		0		0
Cash and cash equivalents at end of year	$ 0		$ 0		$ 0
[1]	a The presentation of financing cash flows for the comparative periods have been amended to align with the current period. See Note 1 for further information.
[2]	a Finance debt on the comparative balance sheet has been re-presented to align with the current period. See Note 1 for further information.

Uncategorized Items - bp-201912

Label	Element	Value
Provisions	ifrs-full_Provisions	$ 20,204,000,000
Reserve Of Cash Flow Hedges, Continuing Hedges And Change In Value Of Foreign Currency Basis Spreads	bp_ReserveOfCashFlowHedgesContinuingHedgesAndChangeInValueOfForeignCurrencyBasisSpreads	(698,000,000)
Trade And Other Receivables [Member]
Valuation Allowances And Reserves, Balance 1	bp_ValuationAllowancesAndReservesBalance1	450,000,000
Fixed Asset Investments [Member]
Valuation Allowances And Reserves, Balance 1	bp_ValuationAllowancesAndReservesBalance1	229,000,000
IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	180,000,000	[1]
Reserve Of Cash Flow Hedges, Continuing Hedges And Change In Value Of Foreign Currency Basis Spreads	bp_ReserveOfCashFlowHedgesContinuingHedgesAndChangeInValueOfForeignCurrencyBasisSpreads	(37,000,000)
IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Lease liabilities	ifrs-full_LeaseLiabilities	9,233,000,000
Adjustment on adoption of IFRS 16 [Member]
Lease liabilities	ifrs-full_LeaseLiabilities	11,979,000,000
Lease liabilities	ifrs-full_LeaseLiabilities	9,422,000,000
Highly Probable Forecast Capital Expenditure [Member] | Cash flow hedges [member]
Reserve of cash flow hedges, continuing hedges	ifrs-full_ReserveOfCashFlowHedgesContinuingHedges	(10,000,000)
Highly Probable Forecast Capital Expenditure [Member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Cash flow hedges [member]
Reserve of cash flow hedges, continuing hedges	ifrs-full_ReserveOfCashFlowHedgesContinuingHedges	0
Interest Rate And Foreign Currency Risk On Finance Debt [Member] | Fair value hedges [member]
Reserve of change in value of foreign currency basis spreads	ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreads	(37,000,000)
Interest Rate And Foreign Currency Risk On Finance Debt [Member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Fair value hedges [member]
Reserve of change in value of foreign currency basis spreads	ifrs-full_ReserveOfChangeInValueOfForeignCurrencyBasisSpreads	(37,000,000)
Highly Probable Forecast Sales [Member] | Cash flow hedges [member]
Reserve of cash flow hedges, continuing hedges	ifrs-full_ReserveOfCashFlowHedgesContinuingHedges	0
Highly Probable Forecast Sales [Member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Cash flow hedges [member]
Reserve of cash flow hedges, continuing hedges	ifrs-full_ReserveOfCashFlowHedgesContinuingHedges	0
Purchase Of Equity [Member] | Cash flow hedges [member]
Reserve of cash flow hedges, continuing hedges	ifrs-full_ReserveOfCashFlowHedgesContinuingHedges	(651,000,000)
Purchase Of Equity [Member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Cash flow hedges [member]
Reserve of cash flow hedges, continuing hedges	ifrs-full_ReserveOfCashFlowHedgesContinuingHedges	0
Reserve of exchange differences on translation [member]
Equity	ifrs-full_Equity	(5,156,000,000)	[1]
Equity	ifrs-full_Equity	(8,902,000,000)	[1]
Equity attributable to owners of parent [member]
Equity	ifrs-full_Equity	98,311,000,000	[1]
Equity	ifrs-full_Equity	99,115,000,000	[1]
Equity attributable to owners of parent [member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	180,000,000	[1]
Equity attributable to owners of parent [member] | IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	(329,000,000)	[1]
Total Reserve Of Available-For-Sale Securities And Cash Flow Hedges [Member]
Equity	ifrs-full_Equity	(797,000,000)	[1]
Equity	ifrs-full_Equity	(987,000,000)	[1]
Total Reserve Of Available-For-Sale Securities And Cash Flow Hedges [Member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	54,000,000	[1]
Total Reserve Of Available-For-Sale Securities And Cash Flow Hedges [Member] | IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	$ 0	[1]
Treasury Shares Held By Parent [Member]
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	1,472,343,000
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	1,264,732,000
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	1,163,077,000
Treasury shares	ifrs-full_TreasuryShares	$ 368,000,000
Treasury shares	ifrs-full_TreasuryShares	316,000,000
Treasury shares	ifrs-full_TreasuryShares	$ 290,000,000
Treasury Shares Held In Employee Share-based Payment Plans [Member] | UNITED STATES
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	24,000
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	15,000
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	72,000
Treasury shares	ifrs-full_TreasuryShares	$ 0
Treasury shares	ifrs-full_TreasuryShares	0
Treasury shares	ifrs-full_TreasuryShares	0
Non-controlling interests [member]
Equity	ifrs-full_Equity	1,913,000,000	[1]
Equity	ifrs-full_Equity	2,103,000,000	[1]
Non-controlling interests [member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	0
Non-controlling interests [member] | IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	(1,000,000)	[1]
Issued capital [member]
Equity	ifrs-full_Equity	5,343,000,000
Equity	ifrs-full_Equity	$ 5,402,000,000
Treasury Shares Held In Employee Share Ownership Plans [Member]
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	9,705,000
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	161,518,000
Number of shares outstanding	ifrs-full_NumberOfSharesOutstanding	133,707,000
Treasury shares	ifrs-full_TreasuryShares	$ 2,000,000
Treasury shares	ifrs-full_TreasuryShares	40,000,000
Treasury shares	ifrs-full_TreasuryShares	33,000,000
Merger reserve [member]
Equity	ifrs-full_Equity	27,206,000,000
Equity	ifrs-full_Equity	27,206,000,000
Treasury shares [member]
Equity	ifrs-full_Equity	(16,958,000,000)	[1]
Equity	ifrs-full_Equity	(15,767,000,000)	[1]
Share Capital And Capital Reserve [Member]
Equity	ifrs-full_Equity	46,122,000,000	[1]
Equity	ifrs-full_Equity	46,352,000,000	[1]
Reserve of gains and losses on remeasuring available-for-sale financial assets [member]
Equity	ifrs-full_Equity	0
Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	17,000,000
Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	0
Capital redemption reserve [member]
Equity	ifrs-full_Equity	1,426,000,000
Equity	ifrs-full_Equity	1,439,000,000
Retained earnings [member]
Equity	ifrs-full_Equity	75,100,000,000	[1]
Equity	ifrs-full_Equity	78,419,000,000	[1]
Retained earnings [member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	126,000,000	[1]
Retained earnings [member] | IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	(329,000,000)	[1]
Share premium [member]
Equity	ifrs-full_Equity	12,147,000,000
Equity	ifrs-full_Equity	12,305,000,000
Reserve of change in value of foreign currency basis spreads [member]
Equity	ifrs-full_Equity	(37,000,000)
Equity	ifrs-full_Equity	(210,000,000)
Reserve of change in value of foreign currency basis spreads [member] | IFRS 9 Financial Instruments [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	37,000,000
Reserve of change in value of foreign currency basis spreads [member] | IFRS 16 Leases [Member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Equity	ifrs-full_Equity	$ 0
[1]	See Note 32 for further information.