The BP emblem is displayed on a petroleum tanker delivering gasoline at a petroleum station in Shepton Mallet on October 20, 2025 in Somerset, England.
Anna Barclay | Getty Photos Information | Getty Photos
British oil large BP on Tuesday reported stronger-than-expected third-quarter revenue, citing progress on divestments and its cost-cutting program.
The London-listed oil and gasoline main posted underlying alternative value revenue, used as a proxy for internet revenue, of $2.21 billion for July-September interval. That beat analyst expectations of $2.03 billion, in keeping with an LSEG-compiled consensus.
BP’s third-quarter internet revenue got here in at $2.3 billion final 12 months and $2.35 billion within the second quarter of 2025.
“We have delivered one other quarter of excellent efficiency throughout the enterprise with operations persevering with to run effectively,” BP CEO Murray Auchincloss stated in an announcement.
“We want to speed up supply of our plans, together with endeavor an intensive overview of our portfolio to drive simplification and focusing on additional enhancements in value efficiency and effectivity,” he added.
BP additionally introduced one other $750 million in share buybacks over the following three months, sustaining the tempo of its shareholder returns.
The oil main’s third-quarter internet debt got here in at $26.05 billion, broadly flat from the earlier quarter, though up from $24.27 billion a 12 months earlier.
The outcomes come simply over eight months after the corporate launched a basic strategic reset.
BP, which has been the topic of intense takeover hypothesis, is seeking to regain investor confidence by slashing renewable spending and prioritizing its conventional oil and gasoline enterprise.
Traders seem to have broadly welcomed the oil and gasoline main’s inexperienced technique U-turn, with share costs up greater than 13% year-to-date. The bettering sentiment has additionally been attributed to the agency’s management shake-up, progress on its cost-cutting program and a string of current oil discoveries.
BP on Monday introduced it had agreed to promote minority stakes in a few of its U.S. onshore pipeline property within the Permian and Eagle Ford basins to non-public investor Sixth Road for $1.5 billion. BP has beforehand stated it’s focusing on $20 billion in divestments by the tip of 2027.
Final week, British rival Shell reported stronger-than-expected third-quarter revenue, citing sturdy operational efficiency and better buying and selling contributions.
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