The BP logo is displayed on a petrol tanker delivering fuel at a petrol station in Shepton Mallet on October 20, 2025 in Somerset, England.<\/p>\n
Anna Barclay | Getty Images News | Getty Images<\/p>\n
British oil giant BP<\/a> on Tuesday reported stronger-than-expected third-quarter profit as higher crude and gas production outweighed a weak oil trading result.<\/p>\n The London-listed oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $2.21 billion for July-September period. That beat analyst expectations of $2.03 billion, according to an LSEG-compiled consensus.<\/p>\n BP’s third-quarter net profit came in at $2.3 billion<\/a> last year and $2.35 billion<\/a> in the second quarter of 2025.<\/p>\n “We’ve delivered another quarter of good performance across the business with operations continuing to run well,” BP CEO Murray Auchincloss said in a statement.<\/p>\n “We are looking to accelerate delivery of our plans, including undertaking a thorough review of our portfolio to drive simplification and targeting further improvements in cost performance and efficiency,” Auchincloss said.<\/p>\n The oil major’s third-quarter net debt came in at $26.05 billion, broadly flat from the previous quarter, although up from $24.27 billion a year earlier.<\/p>\n London-listed shares of BP rose 0.5% on Tuesday morning.<\/p>\n Some other third-quarter highlights included:<\/p>\n BP also announced another $750 million in share buybacks over the next three months, maintaining the pace of its shareholder returns, albeit at a reduced level<\/a> from earlier in the year.<\/p>\n The results come just over eight months after the company launched a fundamental strategic reset<\/a>.<\/p>\n BP, which has been the subject of intense takeover speculation<\/a>, is looking to regain investor confidence by slashing renewable spending and prioritizing its traditional oil and gas business.<\/p>\n Investors appear to have broadly welcomed the oil and gas major’s green strategy U-turn, with share prices up more than 13% year-to-date. The improving sentiment has also been attributed to the firm’s leadership shake-up<\/a>, progress on its cost-cutting program and a\u00a0string of recent oil discoveries<\/a>.<\/p>\n BP on Monday announced<\/a> it had agreed to sell minority stakes in some of its U.S. onshore pipeline assets in the Permian and Eagle Ford basins to private investor Sixth Street for $1.5 billion. BP has previously said it is targeting $20 billion in divestments by the end of 2027.<\/p>\n Last week, British rival Shell<\/a> reported stronger-than-expected<\/a> third-quarter profit, citing robust operational performance and higher trading contributions.<\/p>\n","protected":false},"excerpt":{"rendered":"The BP logo is displayed on a petrol tanker delivering fuel at a petrol station in Shepton Mallet…\n","protected":false},"author":2,"featured_media":548116,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[20935,5189,51,3085,1830,35,28137,12738,16,15],"class_list":{"0":"post-548115","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bp-plc","9":"tag-breaking-news-europe","10":"tag-business","11":"tag-business-news","12":"tag-earnings","13":"tag-energy","14":"tag-oil-and-gas","15":"tag-shell-plc","16":"tag-uk","17":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115490673458081021","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/548115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=548115"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/548115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/548116"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=548115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=548115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=548115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n