BP beats third-quarter profit expectations despite weaker oil prices
The BP logo is displayed on a petrol tanker delivering fuel to a service station at Shepton Mallet in Somerset, England, on October 20, 2025.
Anna Barclay | Getty Images News | Getty Images
British oil giant blood pressure It reported stronger-than-expected third-quarter profit on Tuesday, citing progress on divestitures and a cost-cutting program.
The London-listed oil and gas giant announced a basic replacement cost profit, used as an indicator of net profit, of $2.21 billion for the July-September period. That beat analysts’ expectations of $2.03 billion, according to a consensus compiled by LSEG.
BP’s third quarter net profit was $2.3 billion last year and $2.35 billion in the second quarter of 2025.
“We delivered a quarter of better performance across the business as operations continue to progress well,” BP Chief Executive Murray Auchincloss said in a statement.
“We aim to accelerate the implementation of our plans, including a comprehensive review of our portfolio to drive simplification and target further improvements in cost performance and efficiency,” he added.
BP also announced it will repurchase another $750 million in shares over the next three months, maintaining the pace of shareholder returns.
The oil giant’s net debt in the third quarter stood at $26.05 billion, remaining generally stable compared to the previous quarter; however, there was an increase from $24.27 billion the previous year.
The results come just eight months after the company launched a fundamental strategic reset.
BP, which has been the subject of intense takeover speculation, aims to regain investor confidence by reducing renewable spending and prioritizing its traditional oil and gas business.
Investors appear to have generally welcomed the oil and gas giant’s green strategy U-turn, with share prices up more than 13% since the beginning of the year. The improved sentiment was also attributed to the firm’s leadership change, progress on its cost-cutting program and a series of recent oil discoveries.
BP on Monday announced It had agreed to sell a minority stake in some of its US onshore pipeline assets in the Permian and Eagle Ford basins to private investor Sixth Street for $1.5 billion. BP had previously announced that it aims to invest $20 billion by the end of 2027.
Last week’s English rival Shell It reported stronger-than-expected third-quarter profit, citing strong operational performance and higher trading contributions.
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