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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

for the period ended 31 March 2017

Commission File Number 1-06262

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 of Form 20-F or Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):                 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):                 

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NOS. 333-208478 AND 333-208478-01) OF BP CAPITAL MARKETS p.l.c. AND BP p.l.c.; THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-67206) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-79399) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-103924) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-123482) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-123483) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-131583) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-131584) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-132619) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-146868) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-146870) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-146873) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-173136) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-177423) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-179406) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-186462) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-186463) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-199015) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-200794) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-200795) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-207188) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-207189) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-210316) OF BP p.l.c., THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-210318) OF BP p.l.c., AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

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BP p.l.c. and subsidiaries

Form 6-K for the period ended 31 March 2017(a)

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Group results first quarter 2017

London 2 May 2017

 * For items marked with an asterisk throughout this document, definitions are provided in the Glossary on page 31.

 The commentary above and following should be read in conjunction with the cautionary statement on page 35.

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Group headlines

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Analysis of underlying RC profit before interest and tax

Reconciliations of underlying RC profit or loss to the nearest equivalent IFRS measure are provided on page 3 for the group and on pages 8-13 for the segments.

Analysis of RC profit (loss) before interest and tax and reconciliation to profit (loss) for the period

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The commentary above contains forward-looking statements and should be read in conjunction with the cautionary statement on page 35.

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INTENTIONALLY BLANK

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Upstream

Financial results

The replacement cost profit before interest and tax for the first quarter was $1,256 million, compared with a loss of $1,205 million for the same period in 2016. The first quarter included a net non-operating charge of $360 million, compared with a net non-operating charge of $355 million for the same period in 2016. Fair value accounting effects in the first quarter had a favourable impact of $246 million, compared with an unfavourable impact of $103 million in the same period of 2016.

After adjusting for non-operating items and fair value accounting effects, the underlying replacement cost profit before interest and tax for the first quarter was $1,370 million, compared with a loss of $747 million for the same period in 2016. The result for the first quarter mainly reflected higher liquids and gas realizations and higher production including the impact of the Abu Dhabi ADCO concession renewal, partly offset by higher depreciation, depletion and amortization and higher exploration write-offs.

Production

Production for the quarter was 2,388mboe/d, 3.0% higher than the first quarter of 2016. Underlying production* for the quarter increased by 3.0%, due to the ramp-up of major projects.

Key events

On 22 February, BP’s previously announced transaction with Kosmos Energy in Senegal was approved by the Senegal Minister of Energy and of Development of Renewable Energies.

On 23 February, BP completed the purchase of a 10% interest from Eni (operator, 90%) in the Shorouk concession offshore Egypt, which contains the Zohr gas field.

On 27 March, BP announced its third gas discovery in the North Damietta Offshore Concession (BP 100%) in the East Nile Delta, Egypt.

On 3 April, BP announced that it had agreed to sell its Forties Pipeline System (FPS) business, with assets including the main Forties offshore and onshore pipelines and other associated pipeline interests and facilities, to INEOS. BP’s existing rights to capacity in FPS will not be affected.

On 13 April, BP Trinidad and Tobago announced the start-up of the Trinidad onshore compression project.

Outlook

We expect second-quarter 2017 reported production to be broadly flat with the first quarter with the continued ramp-up of major projects* offset by seasonal turnaround and maintenance activities.

The commentary above contains forward-looking statements and should be read in conjunction with the cautionary statement on page 35.

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Upstream (continued)

Because of rounding, some totals may not agree exactly with the sum of their component parts.

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Downstream

Financial results

The replacement cost profit before interest and tax for the first quarter was $1,706 million, compared with $1,880 million for the same period in 2016.

The first quarter includes a net non-operating charge of $76 million, compared with a net non-operating gain of $286 million for the same period in 2016. Fair value accounting effects had a favourable impact of $40 million in the first quarter, compared with an unfavourable impact of $219 million for the same period in 2016.

After adjusting for non-operating items and fair value accounting effects, the underlying replacement cost profit before interest and tax for the first quarter was $1,742 million, compared with $1,813 million for the same period in 2016.

Replacement cost profit before interest and tax for the fuels, lubricants and petrochemicals businesses is set out on page 11.

Fuels business

The fuels business reported an underlying replacement cost profit before interest and tax of $1,200 million for the first quarter, compared with $1,316 million for the same period in 2016. The result for the quarter reflects improved refining margins and a higher fuels marketing performance. This was more than offset by a higher level of turnaround activity and, whilst the supply and trading performance was strong, it reflected a lower contribution compared to the same period last year.

Lubricants business

The lubricants business reported an underlying replacement cost profit before interest and tax of $393 million for the first quarter, compared with $384 million for the same period in 2016.

Petrochemicals business

The petrochemicals business reported an underlying replacement cost profit before interest and tax of $149 million for the first quarter, compared with $113 million for the same period in 2016.

Following a review of our petrochemicals portfolio to focus on areas where we have leading proprietary technologies and competitive advantage, on 27 April 2017 we announced our intention to divest our 50% shareholding in our Shanghai SECCO Petrochemical Company Limited joint venture in China for a consideration of $1.7 billion. This transaction is subject to regulatory approvals.

Outlook

In the second quarter, we expect improved industry refining margins to be offset by both narrower North American heavy crude oil differentials and a higher level of turnaround activity compared with the first quarter.

  The commentary above contains forward-looking statements and should be read in conjunction with the cautionary statement on page 35.

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Downstream (continued)

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Rosneft

Financial results

Replacement cost profit before interest and tax and underlying replacement cost profit before interest and tax for the first quarter was $99 million, compared with $66 million for the same period in 2016. There were no non-operating items in the first quarter of either year.

Compared with the same period in 2016, the result for the first quarter was primarily affected by adverse foreign exchange effects and higher oil prices.

On 24 April 2017, Rosneft announced that the board of directors had given their preliminary approval of the company’s 2016 annual report and recommended that the annual general meeting (AGM) adopts a resolution to pay dividends of 5.98 roubles per one ordinary share which constitutes 35% of the company’s IFRS net profit. BP expects to receive a dividend in relation to the 2016 annual results of 11.3 billion roubles, after the deduction of withholding tax, subject to approval at the AGM.

Key events

In April Rosneft completed the acquisition of a 100% interest in the Kondaneft project that is developing four licence areas in the Khanty-Mansiysk Autonomous District in West Siberia. The acquisition price is expected to be approximately $700 million.

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Other businesses and corporate

Other businesses and corporate comprises our alternative energy business, shipping, treasury, corporate activities including centralized functions, and the costs of the Gulf of Mexico oil spill.

Financial results

The replacement cost loss before interest and tax for the first quarter was $431 million, compared with $1,074 million for the same period in 2016.

The first-quarter result included a net non-operating gain of $9 million, compared with a net non-operating charge of $896 million for the same period in 2016.

After adjusting for non-operating items, the underlying replacement cost loss before interest and tax for the first quarter was $440 million, compared with $178 million for the same period in 2016. The underlying charge in the first quarter was impacted by adverse foreign exchange effects, which had a favourable effect in the first quarter of 2016.

Alternative energy – wind

Net wind generation capacity*(a) was 1,454MW at 31 March 2017 compared with 1,578MW at 31 March 2016. BP’s net share of wind generation for the first quarter was 1,159GWh, compared with 1,347GWh for the same period in 2016.

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Financial statements

Group income statement

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Group statement of comprehensive income

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Group statement of changes in equity

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Group balance sheet

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Condensed group cash flow statement

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Notes

Note 1. Basis of preparation

The interim financial information included in this report has been prepared in accordance with IAS 34 ‘Interim Financial Reporting’.

The results for the interim periods are unaudited and, in the opinion of management, include all adjustments necessary for a fair presentation of the results for each period. All such adjustments are of a normal recurring nature. This report should be read in conjunction with the consolidated financial statements and related notes for the year ended 31 December 2016 included in BP Annual Report and Form 20-F 2016.

BP prepares its consolidated financial statements included within BP Annual Report and Form 20-F on the basis of International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union (EU) and in accordance with the provisions of the UK Companies Act 2006. IFRS as adopted by the EU differs in certain respects from IFRS as issued by the IASB. The differences have no impact on the group’s consolidated financial statements for the periods presented.

The financial information presented herein has been prepared in accordance with the accounting policies expected to be used in preparing BP Annual Report and Form 20-F 2017, which do not differ significantly from those used in BP Annual Report and Form 20-F 2016.

Note 2. Gulf of Mexico oil spill

(a) Overview

The information presented in this note should be read in conjunction with BP Annual Report and Form 20-F 2016 - Financial statements - Note 2 and Legal proceedings from page 261.

The group income statement includes a pre-tax charge of $161 million for the first quarter in relation to the Gulf of Mexico oil spill. The cumulative pre-tax income statement charge since the incident, in April 2010, amounts to $62,746 million. The charge for the first quarter predominantly reflects finance costs relating to the unwinding of discounting effects.

The amounts set out below reflect the impacts on the financial statements of the Gulf of Mexico oil spill for the periods presented. The income statement, balance sheet and cash flow statement impacts are included within the relevant line items in those statements as set out below.

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Note 2. Gulf of Mexico oil spill (continued)

Net cash from operating activities relating to the Gulf of Mexico oil spill, on a post-tax basis, amounted to an outflow of $2,294 million in the first quarter including a $740 million Department of Justice plea agreement payment. For the same period in 2016, the amount was an outflow of $1,125 million.

(b) Provisions and other payables

Provisions

Movements in the remaining provisions, all of which relate to litigation and claims, are presented in the table below.

The provision includes amounts for the future cost of resolving claims by individuals and businesses for damage to real or personal property, lost profits or impairment of earning capacity and loss of subsistence use of natural resources.

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Note 2. Gulf of Mexico oil spill (continued)

PSC settlement

The provision for the cost associated with the 2012 Plaintiffs’ Steering Committee (PSC) settlement has been determined based upon an expected value of the remaining claims, including business economic loss claims. Amounts to resolve remaining claims are expected to be substantially paid in 2017. However, the amounts ultimately payable may differ from the amount provided and the timing of payment is uncertain. A significant number of claims determined by the court-supervised settlement programme have been and may be appealed by BP and/or the claimants. Depending upon the resolution of these claims, the amount payable may differ from what is currently provided for.

Other payables

Other payables include amounts payable under the 2016 agreements with the United States and five Gulf coast states for natural resource damages, state claims and Clean Water Act penalties, amounts payable under the 2012 agreement with the US government to resolve all federal criminal claims arising from the incident, BP’s remaining commitment to fund the Gulf of Mexico Research Initiative, and amounts payable for certain economic loss and property damage claims.

Further information on provisions, other payables, and contingent liabilities is provided in BP Annual Report and Form 20-F 2016 - Financial statements - Note 2.

Note 3. Analysis of replacement cost profit (loss) before interest and tax and reconciliation to profit (loss) before taxation

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Note 4. Segmental analysis