Bp has turned the corner as a smaller, leaner company. It is recreating itself along the Oxy model focusing on E&P; Important information in Q4 report: Liquids production = 2.26M bpd; 1M BPD will be added by 2016; Q4 eps $1.78 - $.3 charge;
BP's reserves replacement ratio, excluding acquisitions and divestments, for 2010 was 106 per cent - the 18th consecutive year that BP has reported a ratio of over 100 per cent - and its resource replacement ratio was 470 per cent. These additions extended BP's inventory life from 43 to 48 years. Final investment decisions were taken on 15 projects during the year.