Exhibit 1

BP p.l.c. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Nine months ended September 30, 2004 ($ million, except ratios) (Unaudited)
Profit before taxation		19,481
Group's share of income in excess of dividends
of joint ventures and associated undertakings		(1,027	)
Capitalized interest		(159	)
Profit as adjusted		18,295
Fixed charges:
Interest net of interest expense of joint ventures and associated		297
Rental expense representative of interest		405
Capitalized interest		159
		861
Total adjusted earnings available for payment of fixed charges		19,156
Ratio of earnings to fixed charges		22.2
Total adjusted earnings available for payment of fixed charges, after
account of adjustments to profit before taxation to accord with US GAAP		19,192
Ratio of earnings to fixed charges with adjustments to accord with US		22.3

(a)     See Note 16 of Notes to Consolidated Financial Statements.