The British oil company BP announced this Tuesday, November 4, a net profit attributable to shareholders of 3,477 million dollars (3,016 million euros) in the first nine months of the year, 48.6% more than in the same period last year.
According to the company, this result is partly due to the better performance of its production units.
Gross profit reached 9,249 million dollars (8,024 million euros), compared to 7,285 million dollars (6,285 million euros) in the previous year, while operating profit was 12,903 million dollars (11,193 million euros), also exceeding the 10,554 million dollars (9,155 million euros) in the same period of 2024, the company said in a report sent to London Stock Exchange.
In the third quarter, net profit reached 1.16 billion dollars (1.006 million euros), five times more than the 206 million dollars (178.6 million euros) recorded in the same period last year.
Total revenue fell slightly between January and September, 144,807 million dollars (125,613 million euros), compared to 146,541 million (127,126 million euros) in the previous year, a drop of 1.9%.
According to the earnings report, operating cash flow totaled 7,800 million dollars (6,767 million euros) in the third quarter, with solid performance across all divisions, contributing to strong cash generation in the first nine months.
Net debt was US$26,054 million (€22,601 million) at the end of September, a practically unchanged figure compared to the April-June quarter, despite the write-off of US$1,200 million (€1,040 million) in hybrid securities, which did not significantly change the overall debt level.
BP expects fourth-quarter production, from October to December, to remain “broadly flat” compared with the third quarter, with “a slight increase in oil and a slight decline in gas and low-carbon power.”
For the full year, the company forecasts production similar to 2024 and revenues driven by structural cost reductions and the contribution of the biofuels division.
The executive president highlighted that the company, which in February 2025 decided to significantly reduce its investments in renewable energy to focus on oil and gas production, “had another strong quarter in all areas of the business”.
Murray Auchincloss noted that BP “is making progress in reducing costs, strengthening the balance sheet and increasing cash flow and returns”, stressing that “BP can and will do better for its investors”.