Trowbridge in Somerset, England, on March 15, 2025.
Anna Barclay | Getty Photographs Information | Getty Photographs
British oil large BP on Tuesday posted fourth-quarter revenue in keeping with expectations and suspended share buybacks, in search of to shore up its steadiness sheet as decrease crude costs take their toll.
The London-listed power agency reported underlying substitute price revenue, used as a proxy for internet revenue, of $1.54 billion for the ultimate three months of 2025. That matched analyst expectations of $1.54 billion, in line with an LSEG-compiled consensus.
BP’s full-year 2025 internet revenue got here in at $7.49 billion, lacking analyst expectations of $7.58 billion. That is down from almost $9 billion in 2024.
BP stated the board determined to droop the share buyback and totally allocate extra money “to speed up strengthening” of its steadiness sheet.
“2025 was a yr of sturdy underlying monetary outcomes, sturdy operational efficiency, and significant strategic progress,” Carol Howle, BP interim chief govt officer, stated in a press release.
“We now have made progress towards our 4 main targets – rising money move and returns, lowering prices, and strengthening the steadiness sheet – however know there’s extra work to be carried out, and we’re clear on the urgency to ship,” she added.
The outcomes come at a troublesome time for Europe’s oil and fuel sector.
Oil costs notched their largest annual loss because the Covid-19 pandemic final yr, partly attributable to oversupply issues, ratcheting up the stress on Massive Oil’s dedication to shareholder returns.
BP’s business rivals Equinor and Shell each reported weaker quarterly earnings final week, citing decrease crude costs, amongst different components.
Equinor introduced it might scale back share buybacks to $1.5 billion this yr, down from $5 billion final yr, whereas additionally trimming investments in its renewables and low-emission power tasks.
Shell, for its half, saved its buybacks regular at $3.5 billion, a transfer that marked the agency’s seventeenth consecutive quarter of $3 billion or extra in buybacks.
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