SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
for the period ended 02 January 2018
BP p.l.c.
(Translation of registrant's name into English)
1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the
registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F
|X| Form
40-F
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Indicate by check mark whether the registrant by furnishing the
information
contained in this Form is also thereby furnishing
the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of
1934.
Yes
No |X|
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2 January 2018
US tax changes - estimated impact on BP results
BP
expects its future US after-tax earnings to be positively impacted
by the recently-enacted changes to US corporate taxes, largely due
to the reduction of the US federal corporate income tax rate from
35% to 21% (effective 1 January 2018). The ultimate impact of the
change in the US corporate income tax rate is subject to a number
of complex provisions in the legislation which BP is
reviewing.
The
lowering of the US corporate income tax rate to 21% requires
revaluation of BP's US deferred tax assets and liabilities. The
current estimated impact of this will be a one-off non-cash charge
to the Group income statement of around $1.5 billion that will
impact BP's fourth quarter 2017 results. Details of the final
actual charge are expected to be disclosed in BP's fourth quarter
2017 results announcement, due on 6 February 2018.
Further information :
Cautionary statement :
In
order to utilize the 'safe harbor' provisions of the United States
Private Securities Litigation Reform Act of 1995 (the 'PSLRA'), BP
is providing the following cautionary statement. This press release
contains certain forward-looking statements - that is, statements
related to future, not past events - which may relate to one or
more of the financial condition, results of operations and
businesses of BP and certain of the plans and objectives of BP with
respect to these items. These statements are generally, but not
always, identified by the use of words such as 'will', 'expects',
'is expected to', 'aims', 'should', 'may', 'objective', 'is likely
to', 'intends', 'believes', 'anticipates', 'plans', 'we see' or
similar expressions. Actual results may differ from those expressed
in such statements, depending on a variety of factors including the
risk factors set forth in our most recent Annual Report and Form
20-F under "Risk factors" and in any of our more recent public
reports.
Our
most recent Annual Report and Form 20-F and other period filings
are available on our website at www.bp.com , or can be obtained
from the SEC by calling 1-800-SEC-0330 or on its website at
www.sec.gov.
Dated: 02 January 2018
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BP
p.l.c.
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(Registrant)
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/s/
D.J. JACKSON
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D.J.
JACKSON
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Company Secretary
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