Analysis of replacement cost profit (loss) before interest and tax and reconciliation to profit (loss) before taxation

6 Months Ended

Jun. 30, 2018

Operating Segments [Abstract]

Analysis of replacement cost profit (loss) before interest and tax and reconciliation to profit (loss) before taxation

Analysis of replacement cost profit (loss) before interest and tax and reconciliation to profit (loss) before taxation

	Second		Second		First		First
	quarter		quarter		half		half
$ million	2018		2017		2018		2017
Upstream	3,514		795		6,688		2,051
Downstream	840		1,567		2,553		3,273
Rosneft	766		279		1,013		378
Other businesses and corporate(a)	(1,025	)	(721	)	(1,596	)	(1,152	)
	4,095		1,920		8,658		4,550
Consolidation adjustment – UPII*	151		135		(9	)	67
RC profit (loss) before interest and tax*	4,246		2,055		8,649		4,617
Inventory holding gains (losses)*
Upstream	4		1		5		(5	)
Downstream	1,196		(579	)	1,265		(481	)
Rosneft (net of tax)	110		(8	)	132		(34	)
Profit (loss) before interest and tax	5,556		1,469		10,051		4,097
Finance costs	535		487		1,088		947
Net finance expense relating to pensions and other post-retirement benefits	31		54		62		107
Profit (loss) before taxation	4,990		928		8,901		3,043
RC profit (loss) before interest and tax*
US	(20	)	302		339		815
Non-US	4,266		1,753		8,310		3,802
	4,246		2,055		8,649		4,617

(a) Includes costs related to the Gulf of Mexico oil spill. See Note 2 for further information.