Document

SD 1 bp-20251231.htm SD Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

BP p.l.c.

(Exact name of registrant as specified in its charter)

England & Wales

(Jurisdiction of incorporation)

1-06262

Commission file number

Not Applicable

(IRS Employer Identification No.)

1 St James’s Square, London SW1Y 4PD

United Kingdom

(Address of principal executive offices)

Kate Thomson

Tel +44 (0) 20 7496 4000

(Name and telephone number, including area code, of the person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2025.

x Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2025.

Section 2—Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

Disclosure of payments by resource extraction issuers.

The payment disclosure required by Item 2.01 of Form SD is included as Exhibit 2.01 hereto (the “Report”). The Report has been prepared in accordance with the United Kingdom’s Reports on Payments to Governments Regulations 2014 (2014/3209), as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928), (the “Regulations”). The Regulations are recognized by the United States Securities and Exchange Commission as an alternative reporting regime that satisfies the transparency objections of Section 13(q) under the Securities Exchange Act of 1934 for purposes of alternative reporting under Rule 13q-1(c) and paragraph (c) of Item 2.01 of Form SD. The Report has been delivered to the registrar of companies for England and Wales as required by the Regulations and is available on the Companies House website.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the authorized undersigned.

BP p.l.c.

(Registrant)


Dated:	05 June 2026	/s/ KATE THOMSON
		Kate Thomson
		Chief Financial Officer

Exhibit 2.01

BP p.l.c.

Report on Payments to Governments

Year ended 31 December 2025

bp Report on Payments to Governments 2025 1

Contents


Introduction			2
Basis of preparation			2
Payments overview			5
Payments by country			6
Angola			6
Australia			7
Azerbaijan			8
Brazil			9
Canada			10
Egypt			11
India			12
Indonesia			13
Iraq			14
Libya			15
Mauritania			16
Oman			17
Senegal			18
Trinidad and Tobago			19
United Arab Emirates			20
United Kingdom			21
United States			22
Other resources			23

bp Report on Payments to Governments 2025 1

Introduction

BP p.l.c. has prepared the following consolidated report (‘the report’) on payments to governments in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209), as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928), (the ‘Regulations’). The Report also addresses BP p.l.c.’s reporting obligations under DTR 4.3A of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Basis of preparation section contains information about the content of the Report, the types of payments included and the principles that have been applied in preparing the Report.

bp’s wider contribution

bp makes a broader socioeconomic contribution to countries in which we operate in many different ways, beyond the payments that are required to be reported under the Regulations. bp makes payments to governments in connection with parts of our business other than extractive activities, which are outside the scope of the Regulations and therefore not included in this report. See Other resources on page 23 for links to other information on bp's reporting.

bp’s position on revenue transparency

bp supports transparency in the flow of revenue from oil and gas activities to governments. This helps stakeholders hold public authorities to account for the way they use funds received through taxes and other agreements.

Basis of preparation

Under the Regulations, the directors of BP p.l.c. are required to prepare a consolidated report on payments made to governments for each financial year in relation to relevant activities of both BP p.l.c. and any of its subsidiary undertakings included in the consolidated group accounts. The term ‘bp’ is used interchangeably within this report to indicate BP p.l.c. or any subsidiary undertaking within the scope of the report.

Activities within the scope of the report

Payments made to governments that relate to bp’s activities involving the exploration, prospection, discovery, development, and extraction of minerals, oil, natural gas deposits or other materials (‘extractive activities’) are included in this report.

Payments made to governments that relate to trading, export (pipelines), refining and processing, renewables projects and other activities that are not within the scope of extractive activities as defined by the Regulations are not included in this report.

Where a payment relates to activities that are reportable under the Regulations as well as to activities which are not reportable, bp reports the payment in its entirety if it is not possible to disaggregate it.

Government

Under the Regulations, a ‘government’ is defined as any national, regional or local authority of a country, and includes a department, agency or undertaking that is a subsidiary undertaking controlled by such an authority. In some countries, certain local indigenous organizations fall within this definition of government. Where this is the case, payments made to such organizations have been included in this report. Where a state-owned enterprise undertakes activities outside of its home jurisdiction, then it is not considered to be a government.

Cash basis

Payments are reported on a cash basis, meaning that they are reported in the period in which they are paid, as opposed to being reported on an accruals basis (which would mean that they were reported in the period for which the liabilities arise). Refunds are also reported in the period they are received by bp and are shown as negative amounts in the report. Where payments in kind are made to a government, they are valued, and footnotes are included to help explain the valuation method and any related volumes.

bp Report on Payments to Governments 2025 2

Reporting principles

The Regulations require payments to be reported where they are made to governments by BP p.l.c. and its subsidiary undertakings in respect of extractive activities. The Regulations also require the disclosure of payments to reflect the substance of each payment and the relevant activity or project concerned. In light of these requirements, bp has assessed its reporting obligations as follows:

•Where bp has made a payment to a government, such payment is reported in full, whether made in bp’s sole capacity or in bp’s capacity as the operator of a joint venture. Payments made to governments in connection with joint ventures are included in the report if, and to the extent that, bp makes the relevant payment. Typically, such circumstances will arise where bp is the operator of the joint venture. Payments made by an incorporated joint venture which is not a subsidiary of bp are not included within this report.

•In some instances, bp is a partner in unincorporated joint ventures where the role of operator is performed through a non-typical operatorship model, whereby multiple entities contribute to an unincorporated body which has the role of operator. In relation to such joint ventures, payments made by bp to the government are reported and payments for which bp has direct responsibility to the government, but which are paid on its behalf, are also reported.

•bp’s equity-accounted investments for the financial year ended 31 December 2025 are not bp subsidiaries and therefore in accordance with the Regulations, payments made by such entities are not included in this report.

Project definition

The Regulations require payments to be reported by project (as a subcategory within a country). They define a ‘project’ as the operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If these agreements are substantially interconnected, then they can be treated as a single project. Under the Regulations, ‘substantially interconnected’ means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government, giving rise to payment liabilities. These agreements may themselves be governed by a single contract, joint venture, production-sharing agreement, or other overarching legal agreement. Factors used to determine whether contracts or licences are operationally and geographically integrated may include their common management framework, proximity and use of common infrastructure. The number of projects will depend on the contractual arrangements within a country and not necessarily on the scale of activities. A project will only appear in this report where relevant payments occurred during the year in relation to that project.

The Regulations acknowledge that for some payments it may not be possible to attribute a payment to a single project and therefore such payments may be reported at the country level. For example, corporate income taxes, which are typically not levied at a project level.

Materiality threshold

The Regulations require that payments made as a single payment exceeding £86,000 or as part of a series of related payments within a financial year exceeding £86,000 be included in this report.

Reporting currency

All payments have been reported in US dollars. Payments made in currencies other than US dollars are typically translated at the exchange rate at the date of payment.

Payment types

The Regulations define a ’payment‘ as an amount paid whether in money or in kind, for relevant activities where the payment type is one of the following:

•Production entitlements

Under production sharing agreements (PSAs), the production is shared between the host government and the other parties to the PSA. The host government typically receives its share or entitlement in kind rather than being paid in cash. In this report, such production entitlement volumes to the government are reported on a lifting basis, i.e. when the government takes possession of its share of production. A market value is applied, usually using the valuation method from the relevant PSA. For joint ventures in which bp is the operator, government production entitlements are reported in their entirety, in accordance with the notes above. Where the national oil company (NOC) is also a partner in the joint venture, their production entitlement is reported in addition to the government share of production. The NOC’s entitlement as a

bp Report on Payments to Governments 2025 3

partner will include both their share of production as investor’s return as well as their entitlement for the reimbursement of their costs.

•Taxes

This report includes taxes levied on income, production or profits and taxes withheld from dividends, royalties and interest received by bp. In addition, taxes paid on behalf of bp by the NOC out of production entitlements are reported. Taxes levied on consumption, personnel, sales and procurement (contractor’s withholding taxes), property and environmental taxes, and customs and excise are not reportable under the Regulations.

•Royalties

These may be paid in cash or in kind (valued in the same way as production entitlements).

•Fees

In preparing this report, bp has included licence fees, rental fees, entry fees and all other payments that are paid in consideration for new and existing licences and/or concessions. Fees paid to governments for administrative services are excluded.

•Bonuses

Signature, discovery and production bonuses and other bonuses payable under licences or concession agreements are included in the report.

•Infrastructure improvements

Such payments include a road, or a building provided by bp that forms part of the fundamental facilities and systems serving a community or area. These payments are included in the report whether or not bp is contractually obliged to fund them and are reported when the relevant assets are handed over to the government or the local community.

•Dividends

These are dividends that are paid in lieu of production entitlements or royalties. Dividends paid by bp to a government as an ordinary shareholder are excluded. For the year ended 31 December 2025, there were no reportable dividend payments to a government.

•Other considerations

The payments shown in this report are rounded to the nearest $0.1 million. Due to rounding, some totals in the following tables may not agree exactly with the sum of their component parts. Amounts are shown to the nearest dollar in the data submitted and are available on the UK Companies House website.

bp Report on Payments to Governments 2025 4

Payments overview

The table below shows the relevant payments to governments made by bp in the year ended 31 December 2025, by country and payment type.

Of the seven payment types required by the Regulations, bp did not pay any relevant dividends and therefore the category is not shown.

$ million


Country	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Angola		0.3					0.3
Australia		83.0	80.3	13.5			176.8
Azerbaijan	9,117.9	427.9		2.1	450.2		9,998.1
Brazil				0.4			0.4
Canada				12.1			12.1
Egypt	16.2	385.2		2.0	1.0		404.4
India	118.1	82.8					201.0
Indonesia	1,069.5	355.0					1,424.5
Iraq					25.0		25.0
Libya				0.9			0.9
Mauritania	45.6			0.7	6.0		52.3
Oman	2,198.2	683.3		2.0			2,883.6
Senegal	22.0			0.3		6.2	28.6
Trinidad and Tobago		353.1		4.5			357.6
United Arab Emirates		4,189.8		6.4			4,196.2
United Kingdom		1,040.8		8.7			1,049.5
United States		269.7	1,110.3	13.9	12.3		1,406.1
Total	12,587.5	7,870.8	1,190.6	67.4	494.4	6.2	22,217.1

bp Report on Payments to Governments 2025 5

Payments by country

Angola

$ million

Governments

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Ministry of Finance

0.3

Total

0.3

Projects

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Payments not attributable to

projects

0.3

Total

0.3

bp Report on Payments to Governments 2025 6

Australia

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Australian Taxation Office		83.0		6.4			89.3
Department for Energy and Mining				6.4			6.4
Department of Finance				0.7			0.7
Department of Mines, Industry Regulation and Safety			80.3				80.3
Total		83.0	80.3	13.5			176.8


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
North West Shelf		83.0	80.3	13.5			176.8
Total		83.0	80.3	13.5			176.8

bp Report on Payments to Governments 2025 7

Azerbaijan

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Azerbaijan (ACG) Ltd. (SOCAR subsidiary)a	1,122.7						1,122.7
Ministry of Taxesb		427.9					427.9
SGC Upstream LLCc	1,132.6						1,132.6
State Oil Company of Azerbaijan Republic (SOCAR)d	268.0						268.0
State Oil Fund of Azerbaijan (SOFAZ)e	6,594.5			2.1	450.2		7,046.8
Total	9,117.9	427.9		2.1	450.2		9,998.1


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Azeri-Chirag-Deepwater Gunashli – PSAf	6,136.6	38.1			450.0		6,624.7
Shafag-Asiman – PSA				2.1			2.1
Shah Deniz – PSAg,h	2,981.2	389.8			0.2		3,371.2
Total	9,117.9	427.9		2.1	450.2		9,998.1


a			Payments in kind for 16.7 million barrels of crude oil valued at netback value per the production sharing agreement.
b			Includes $389.8 million of taxes settled by SOCAR on bp’s behalf, out of entitlement, pursuant to the relevant agreements.
c			Includes payments in kind of $251.2 million for 3.9 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.
d			Payments in kind for 2.9 billion cubic metres of associated residue natural gas valued on the basis of gas prices realized in a similar Azerbaijan project.
e			Includes payments in kind of $5,171.5 million for 76.8 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.
f			Includes payments in kind of $5,868.7 million for 86.9 million barrels of crude oil valued at netback value per the production sharing agreement and payments in kind of $268.0 million for 2.9 billion cubic metres of associated residue natural gas valued on the basis of gas prices realized in a similar Azerbaijan project.
g			Includes payments in kind of $676.8 million for 10.5 million barrels of crude oil valued at netback value per the production sharing agreement and the remaining production entitlement was paid in cash.
h			Pursuant to the relevant agreements, SOCAR paid these taxes on bp’s behalf out of revenue entitlements.

bp Report on Payments to Governments 2025 8

Brazil

$ million

Governments

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Petrobras

0.4

Total

0.4

Projects

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

CM-477

0.4

Total

0.4

bp Report on Payments to Governments 2025 9

Canada

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Canada Newfoundland and Labrador Offshore Energy Regulator				11.4			11.4
Government of The Province of Alberta				0.4			0.4
Natural Resources Canada				0.2			0.2
Total				12.1			12.1

Projects

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Newfoundland Exploration

11.6

Terre De Grace

0.4

Total

12.1

bp Report on Payments to Governments 2025 10

Egypt

$ million


Governments	Production entitlements	Taxesa	Royalties	Fees	Bonuses	Production improvements	Total
Egyptian General Petroleum				2.0			2.0
Egyptian Natural Gas Holdinga,b	16.2				1.0		17.2
Egyptian Tax Authority		385.2					385.2
Total	16.2	385.2		2.0	1.0		404.4


Projects	Production entitlements	Taxesa	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Baltima		18.5					18.5
East Portsaid					1.0		1.0
El Qaraaa		11.9					11.9
North Alexandria / West Mediterranean Deep Watera		33.1					33.1
North North Damiettaa		199.7					199.7
North El Hammad Offshorea		43.3					43.3
Ras El Bara,b	16.2	19.2					35.5
Temsaha		1.1					1.1
UGDC		0.8					0.8
West Nile Delta				2.0			2.0
Zohra		57.4					57.4
Total	16.2	385.2		2.0	1.0		404.4


a			Pursuant to the relevant agreements, Egypt General Petroleum Corporation paid these taxes on bp's behalf out of production entitlement.
b			Includes payments in kind of $16.2 million for 0.9 million barrels of crude oil valued as net payable provision estimate per the production sharing agreement.

bp Report on Payments to Governments 2025 11

India

$ million

Governments

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Income Tax Department

82.8

Ministry of Petroleum and Natural Gas

118.1

Total

118.1

82.8

201.0

Projects

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

KG D6 KG-DWN-98/3

118.1

Payments not attributable to projects

82.8

Total

118.1

82.8

201.0

bp Report on Payments to Governments 2025 12

Indonesia

$ million

Governments

Production entitlementsa

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Ministry of Financea

1,069.5

355.0

1,424.5

Total

1,069.5

355.0

1,424.5

Projects

Production entitlementsa

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Tangguha

1,069.5

355.0

1,424.5

Total

1,069.5

355.0

1,424.5


a			Includes payments in kind of $97.2 million for 1.6 million barrels of condensates valued per the production sharing agreement. The remaining production entitlement for LNG was paid in cash.

bp Report on Payments to Governments 2025 13

Iraq

$ million

Governments

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

North Oil Company

25.0

Total

25.0

Projects

Production

entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Kirkuk

25.0

Total

25.0

bp Report on Payments to Governments 2025 14

Libya

$ million

Governments

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

National Oil Corporation

0.9

Total

0.9

Projects

Production

entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Payments not attributable to projects

0.9

Total

0.9

bp Report on Payments to Governments 2025 15

Mauritania

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Ministry of Petroleum, Energy and Mines				0.7	6.0		6.7
Republique Islamique de Mauritanie a	25.1						25.1
Société Mauritanienne des Hydrocarbures	20.4						20.4
Total	45.6			0.7	6.0		52.3


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Block C8	45.6			0.7	6.0		52.3
Total	45.6			0.7	6.0		52.3


a			Comprises payments in kind of $25.1 million: for $2.8 million for 0.05 million barrels of condensate and $22.3 million for 3.6 million mmBtu of gas, both valued as per the Sales Purchase Agreement (SPA), In addition $20.4 million was paid in cash.

bp Report on Payments to Governments 2025 16

Oman

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Makarim Gas Developmenta	530.0						530.0
Ministry of Energy and Mineralsb	1,668.3			0.4			1,668.7
Ministry of Labour				1.6			1.6
Oman Tax Authorityc		683.3					683.3
Total	2,198.2	683.3		2.0			2,883.6


Projects	Production entitlements a,b	Taxesc	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Khazzan	2,198.2	683.3		2.0			2,883.6
Total	2,198.2	683.3		2.0			2,883.6


a			Comprises payments in kind of $177.5 million for 2.49 million barrels of condensates valued at market prices, $352.2 million for 98.01 million mmBtu of gas valued per the Gas Sales Agreement and $0.27 million was paid in cash.
b			Comprises payments in kind of $781.2 million for 11.02 million barrels of condensates valued at market prices, 886.02 million for 246.5 million mmBtu of gas valued per the Gas Sales Agreement and $1.1 million was paid in cash.
c			Pursuant to the relevant agreements, the Ministry of Oil and Gas paid $683.3 million of taxes on bp’s behalf out of their production entitlement.

bp Report on Payments to Governments 2025 17

Senegal

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Ministry of Fisheries and Maritime Economy						5.4	5.4
Municipality of St Louis						0.8	0.8
Republique du Senegal	18.3						18.3
Société des pétroles du Sénégal	3.7			0.3			4.0
Total	22.0			0.3		6.2	28.6


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Block St Louis Profond	22.0			0.3			22.3
Payments not attributable to projects						6.2	6.2
Total	22.0			0.3		6.2	28.6

bp Report on Payments to Governments 2025 18

Trinidad and Tobago

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Board of Inland Revenue		79.4					79.4
Ministry of Energy and Energy Industriesa		273.7		4.5			278.2
Total		353.1		4.5			357.6


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Block 25A				1.0			1.0
Block 25B				0.2			0.2
Block 5B				2.1			2.1
Block NCMA2				1.2			1.2
BPTT Blocksa		353.1					353.1
Total		353.1		4.5			357.6


a			Includes Royalty payments of $248.2 million.

bp Report on Payments to Governments 2025 19

United Arab Emirates

$ million

Governments

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

Abu Dhabi National Oil Company

6.4

Department of Finance Abu Dhabi

4,189.8

Total

4,189.8

6.4

4,196.2

Projects

Production entitlements

Taxes

Royalties

Fees

Bonuses

Infrastructure improvements

Total

ADCO Concession (Onshore)

4,189.8

6.4

4,196.2

Total

4,189.8

6.4

4,196.2

bp Report on Payments to Governments 2025 20

United Kingdom

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
HM Revenue and Customsa,b		1,040.8					1,040.8
Oil and Gas Authority				8.3			8.3
The Crown Estate				0.4			0.4
Total		1,040.8		8.7			1,049.5


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Andrew				0.5			0.5
Clair				0.5			0.5
Decommissioninga		(9.9)		0.3			(9.7)
ETAP				1.7			1.7
Exploration				0.2			0.2
Foinaven				2.4			2.4
Murlach				0.5			0.5
Non-Operateda		(0.4)		0.7			0.3
Pipelines				0.4			0.4
Schiehallion				1.1			1.1
Seagull				0.5			0.5
Payments not attributable to projectsb		1,051.1					1,051.1
Total		1,040.8		8.7			1,049.5


a			Net refunds result from the carry back of tax losses, resulting in a refund of taxes paid in prior years.
b			Settlement of UK Direct Taxes which include interest over/under payments.

bp Report on Payments to Governments 2025 21

United States

$ million


Governments	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
IRSa		30.0					30.0
Office of Natural Revenue/Department Interior			958.5	12.5	12.3		983.3
State of Colorado		(0.2)					(0.2)
State of Louisianab		35.6	12.3				47.9
State of New Mexico		(2.2)					(2.2)
State of Texas		206.4	139.5	1.4			347.3
Total		269.7	1,110.3	13.9	12.3		1,406.1


Projects	Production entitlements	Taxes	Royalties	Fees	Bonuses	Infrastructure improvements	Total
Colorado		(0.2)					(0.2)
Gulf of America - Central			914.7	12.5	12.3		939.5
Gulf of America - Western			42.1				42.1
Louisianab		35.6	13.9				49.5
New Mexico		(2.2)					(2.2)
Texas		206.4	139.5	1.4			347.3
Payments not attributable to projectsa		30.0					30.0
Total		269.7	1,110.3	13.9	12.3		1,406.1


a			Net refunds result from the carry back of tax losses, resulting in a refund of taxes paid in prior years.
b			Payments to states where bp has no extractive activities relate to escheatment of Royalties.

bp Report on Payments to Governments 2025 22

Other resources

Detailed data associated with the Payments to Governments Report, filed with UK Registrar
extractives.companieshouse.gov.uk

Other reports

bp.com/annualreport

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bp Report on Payments to Governments 2025 23

Payment

Amount

Type

Country

Government

Extraction Method

Resource

Project

In kind Y/N

In Kind

0.3

Tax

Angola

Ministry of Finance

Well

Crude Oil

Payments not attributable to projects

6.4

Fees

Australia

AUSTRALIAN TAXATION OFFICE

Well

Crude Oil

North West Shelf

6.4

Fees

Australia

DEPARTMENT FOR ENERGY AND MINING

Well

Crude Oil

North West Shelf

0.7

Fees

Australia

Department of Finance

Well

Crude Oil

North West Shelf

80.3

Royalties

Australia

Department of Mines, Industry Regulation and Safety

Well

Crude Oil

North West Shelf

83.0

Tax

Australia

AUSTRALIAN TAXATION OFFICE

Well

Crude Oil

North West Shelf

450.0

Bonuses

Azerbaijan

State Oil Fund of Azerbaijan (SOFAZ)

Well

Crude Oil

Azeri-Chirag-Deepwater Guneshli - PSA

0.2

Bonuses

Azerbaijan

State Oil Fund of Azerbaijan (SOFAZ)

Well

Crude Oil

Shah Deniz - PSA

2.1

Fees

Azerbaijan

State Oil Fund of Azerbaijan (SOFAZ)

Well

Crude Oil

Shafag-Asiman PSA

1,122.7

Production Entitlements

Azerbaijan

Azerbaijan (ACG) Ltd. (SOCAR subsidiary)

Well

Crude Oil

Azeri-Chirag-Deepwater Guneshli - PSA

Yes

Includes payments in kind of $$1,123 million for 16.7 million barrels of crude oil valued at netback value per the production sharing agreement

881.4

Production Entitlements

Azerbaijan

SGC Upstream LLC

Well

Crude Oil

Shah Deniz - PSA

251.2

Production Entitlements

Azerbaijan

SGC Upstream LLC

Well

Crude Oil

Shah Deniz - PSA

Yes

Includes payments in kind of $251.2 million for 3.9 million barrels of crude oil valued at netback value per the production sharing agreement.

268.0

Production Entitlements

Azerbaijan

State Oil Company of Azerbaijan Republic (SOCAR)

Well

Gas

Azeri-Chirag-Deepwater Guneshli - PSA

Yes

Payments in kind of $268.0 million for 2.9 billion cubic metres of associated residue natural gas valued on the basis of gas prices realized in a similar Azerbaijan project.

bp Report on Payments to Governments 2025 24

4,745.9

Production Entitlements

Azerbaijan

State Oil Fund of Azerbaijan (SOFAZ)

Well

Crude Oil

Azeri-Chirag-Deepwater Guneshli - PSA

Yes

Includes payments in kind of $$4,745.9 million for 70.2 million barrels of crude oil valued at netback value per the production sharing agreement

1,423.0

Production Entitlements

Azerbaijan

State Oil Fund of Azerbaijan (SOFAZ)

Well

Crude Oil

Shah Deniz - PSA

425.6

Production Entitlements

Azerbaijan

State Oil Fund of Azerbaijan (SOFAZ)

Well

Crude Oil

Shah Deniz - PSA

Yes

Includes payments in kind of $425.6 million for 6.6 million barrels of crude oil valued at netback value per the production sharing agreement.

38.1

Tax

Azerbaijan

Ministry of Taxes

Well

Crude Oil

Azeri-Chirag-Deepwater Guneshli - PSA

389.8

Tax

Azerbaijan

Ministry of Taxes

Well

Crude Oil

Shah Deniz - PSA

0.4

Fees

Brazil

Petrobras

Well

Crude Oil

C-M-477

11.4

Fees

Canada

Canada Newfoundland and Labrador Offshore Energy Regulator

Well

Crude Oil

Newfoundland Exploration

0.4

Fees

Canada

Government of Alberta

Well

Crude Oil

Terre De Grace

0.2

Fees

Canada

Natural Resources Canada

Well

Crude Oil

Newfoundland Exploration

1.0

Bonuses

Egypt

Egyptian Natural Gas Holding

Well

Crude Oil

East Portsaid

2.0

Fees

Egypt

Egyptian General Petroleum

Well

Crude Oil

West Nile Delta

16.2

Production Entitlements

Egypt

Egyptian Natural Gas Holding

Well

Crude Oil

Ras El Bar

Yes

Includes payments in kind of $16.2 million for 0.9 million barrels of crude oil valued as net payable provision estimate per the production sharing agreement.

18.5

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

Baltim

11.9

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

El Qaraa

33.1

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

North Alexandria / West Mediterranean Deep Water

bp Report on Payments to Governments 2025 25

199.7

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

North Damietta

43.3

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

North El Hammad Offshore

19.2

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

Ras El Bar

1.1

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

Temsah

0.8

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

UGDC

57.4

Tax

Egypt

Egyptian Tax Authority

Well

Crude Oil

Zohr

118.1

Production Entitlements

India

Ministry of Petroleum & Natural Gas - Government of India

Well

Gas

KG D6 KG-DWN-98/3

82.8

Tax

India

Income Tax Department

Well

Gas

Payments not attributable to projects

972.2

Production Entitlements

Indonesia

Ministry of Finance

Well

LNG

Tangguh

97.2

Production Entitlements

Indonesia

Ministry of Finance

Well

LNG

Tangguh

Yes

Includes payments in kind of $97.2 million for 1.6 million barrels of condensates valued per the production sharing agreement. The remaining production entitlement for LNG was paid in cash.

355.0

Tax

Indonesia

Ministry of Finance

Well

LNG

Tangguh

25.0

Bonuses

Iraq

North Oil Company

Well

Crude Oil

Kirkuk

0.9

Fees

Libya

NOC

Well

Crude Oil

Payments not attributable to projects

6.0

Bonuses

Mauritania

Ministry of Petroleum, Energy & Mines

Well

LNG

Block C8

0.7

Fees

Mauritania

Ministry of Petroleum, Energy & Mines

Well

LNG

Block C8

bp Report on Payments to Governments 2025 26

25.1

Production Entitlements

Mauritania

Republique Islamique de Mauritanie

Well

LNG

Block C8

Yes

Comprises payments in kind of $25.1 million: for $2.8 million for 0.05 million barrels of condensate and $22.3 million for 3.6 million mmBtu of gas, both valued as per the Sales Purchase Agreement (SPA), In addition $20.4 million was paid in cash

20.4

Production Entitlements

Mauritania

Société Mauritanienne des Hydrocarbures

Well

LNG

Block C8

0.4

Fees

Oman

Ministry of Enrage and Minerals (MEM)

Well

Gas

Khazzan

1.6

Fees

Oman

Ministry of Labour

Well

Gas

Khazzan

352.5

Production Entitlements

Oman

Makarim Gas Development (MGD)

Well

Gas

Khazzan

Yes

Comprises $352.2 million for 98.01 million mmBtu of gas valued per the Gas Sales Agreement

177.5

Production Entitlements

Oman

Makarim Gas Development (MGD)

Well

Gas

Khazzan

Yes

Comprises payments in kind of $177.5 million for 2.49 million barrels of condensates valued at market prices,

1.1

Production Entitlements

Oman

Ministry of Enrage and Minerals (MEM)

Well

Gas

Khazzan

1,667.2

Production Entitlements

Oman

Ministry of Enrage and Minerals (MEM)

Well

Gas

Khazzan

Yes

Comprises payments in kind of $781.2 million for 11.02 million barrels of condensates valued at market prices, 886.02 million for 246.5 million mmBtu of gas valued per the Gas Sales Agreement and $1.1 million was paid in cash.

683.3

Tax

Oman

Oman Tax Authority

Well

Gas

Khazzan

0.3

Fees

Senegal

Société des pétroles du Sénégal

Well

LNG

Block St Louis Profond

5.4

Infrastructure

Senegal

Ministry of Fisheries and Maritime Economy

Well

LNG

Payments not attributable to projects

0.8

Infrastructure

Senegal

Municipality of St Louis

Well

LNG

Payments not attributable to projects

bp Report on Payments to Governments 2025 27

18.3

Production Entitlements

Senegal

Republique du Senegal

Well

LNG

Block St Louis Profond

3.7

Production Entitlements

Senegal

Société des pétroles du Sénégal

Well

LNG

Block St Louis Profond

1.0

Fees

Trinidad

Ministry of Energy and Energy Industries

Well

LNG

Block 25A

0.2

Fees

Trinidad

Ministry of Energy and Energy Industries

Well

LNG

Block 25B

2.1

Fees

Trinidad

Ministry of Energy and Energy Industries

Well

LNG

Block 5B

1.2

Fees

Trinidad

Ministry of Energy and Energy Industries

Well

LNG

Block NCMA2

79.4

Tax

Trinidad

Board of Inland Revenue

Well

LNG

BPTT Blocks

273.7

Tax

Trinidad

Ministry of Energy and Energy Industries

Well

LNG

BPTT Blocks

Yes

Includes Royalty payments of $248.2 million.

6.4

Fees

United Arab Emirates

Abu Dhabi National Oil Company

Well

Crude Oil

ADCO Concession (Onshore)

4,189.8

Tax

United Arab Emirates

Department of Finance Abu Dhabi

Well

Crude Oil

ADCO Concession (Onshore)

0.5

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Andrew

0.5

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Clair

0.3

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Decommissioning

1.7

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

ETAP

0.2

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Exploration

2.4

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Foinaven

0.5

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Murlach

bp Report on Payments to Governments 2025 28

0.7

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Non Operated

1.1

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Schiehallion

0.5

Fees

United Kingdom

OIL AND GAS AUTHORITY

Well

Crude Oil

Seagull

0.4

Fees

United Kingdom

THE CROWN ESTATE

Well

Crude Oil

Pipelines

(9.9)

Tax

United Kingdom

HMRC

Well

Crude Oil

Decommissioning

(0.4)

Tax

United Kingdom

HMRC

Well

Crude Oil

Non Operated

1,051.1

Tax

United Kingdom

HMRC

Well

Crude Oil

Payments not attributable to projects

12.3

Bonuses

USA

Office of Natural Resources Revenue/Department of the Interior

Well

Crude Oil

Gulf of America - Central

12.5

Fees

USA

Office of Natural Resources Revenue/Department of the Interior

Well

Crude Oil

Gulf of America - Central

1.4

Fees

USA

State of Texas

Well

Crude Oil

Texas

914.7

Royalties

USA

Office of Natural Resources Revenue/Department of the Interior

Well

Crude Oil

Gulf of America - Central

42.1

Royalties

USA

Office of Natural Resources Revenue/Department of the Interior

Well

Crude Oil

Gulf of America - Western

1.7

Royalties

USA

Office of Natural Resources Revenue/Department of the Interior

Well

Crude Oil

Louisiana

12.3

Royalties

USA

State of Louisiana

Well

Crude Oil

Louisiana

139.5

Royalties

USA

State of Texas

Well

Crude Oil

Texas

bp Report on Payments to Governments 2025 29

30.0

Tax

USA

IRS

Well

Crude Oil

Payments not attributable to projects

(0.2)

Tax

USA

State of Colorado

Well

Crude Oil

Colorado

35.6

Tax

USA

State of Louisiana

Well

Crude Oil

Louisiana

(2.2)

Tax

USA

State of New Mexico

Well

Crude Oil

New Mexico

206.4

Tax

USA

State of Texas

Well

Crude Oil

Texas

bp Report on Payments to Governments 2025 30

SEC Form SD filed by BP p.l.c.