British BP Reports Quarterly Profits Exceeding Expectations Despite Weak Oil Prices

SadaNews - British company BP announced today, Tuesday, that it achieved quarterly profits exceeding expectations during the third quarter of 2025, supported by progress in its cost-cutting program and asset sales, which boosts investor confidence in the company’s new strategy focusing on oil and gas.

The company, listed on the London Stock Exchange, recorded a net income of $2.21 billion for the period from July to September, surpassing the analysts' average expectation of $2.03 billion according to LSEG data.

The profits from the third quarter of last year were $2.3 billion, compared to $2.35 billion in the second quarter of this year.

The company’s CEO, Murray Auchincloss, stated in a release: "We achieved another quarter of strong performance across various business units, as our operational activities continue to deliver solid results," adding that the company aims to "accelerate the implementation of its plans through a comprehensive review of the investment portfolio to simplify it and improve performance and efficiency."

BP also announced a share buyback of $750 million over the next three months, maintaining its pace of returns to shareholders.

The company's net debt stabilized at $26.05 billion in the third quarter, a level close to the previous quarter but higher than the $24.27 billion recorded a year ago.

These results come after eight months of the company announcing a comprehensive restructuring strategy aimed at restoring investor confidence by reducing spending on renewable energy projects and focusing on its core oil and gas activities.

This new strategy has been welcomed by investors, as BP's shares have risen more than 13% since the start of the year, supported by leadership changes, progress in the cost-cutting program, and a series of new oil discoveries.

As part of its efforts to reduce debt, the company announced yesterday the sale of minority stakes in U.S. pipeline assets in the Permian and Eagle Ford regions to private investment firm Sixth Street for $1.5 billion, as part of a plan targeting $20 billion from asset disposals by the end of 2027.

The announcement from BP comes days after its competitor Shell also revealed quarterly profits that exceeded expectations, supported by strong operational performance and increased profits from trading activities.