Strong Operational Performance
BP delivered another strong quarter with underlying pretax earnings of $5.3 billion and underlying net income of $2.2 billion. Operating cash flow for the quarter was $7.8 billion.
Upstream Production Increase
Upstream production increased by around 3% quarter-on-quarter with a plant reliability rate of around 97%, which led to upgraded full-year production guidance.
Record Refining Availability
Refining availability was close to 97%, marking the best quarter in 20 years for the current portfolio.
New Oil and Gas Projects
Six new major oil and gas projects started in 2025, with four of them ahead of schedule.
Exploration Success
12 exploration discoveries in 2025, including the significant Bumerangue discovery in Brazil.
Improved Downstream Earnings
Underlying earnings in the first nine months were around 40% higher than the same period in 2024.
Progress in AI and Automation
BP made significant progress in AI, improving operational efficiency and reducing costs across upstream and downstream operations.
Strong Interest in Divestments
BP is making good progress on divestment proceeds with strong interest in assets like Castrol and Gelsenkirchen.