Trowbridge in Somerset, England, on March 15, 2025.
Anna Barclay | Getty Photos Information | Getty Photos
British oil big BP on Tuesday posted fourth-quarter revenue in keeping with expectations and suspended share buybacks, in search of to shore up its stability sheet as decrease crude costs take their toll.
The London-listed vitality agency reported underlying substitute value revenue, used as a proxy for web revenue, of $1.54 billion for the ultimate three months of 2025. That matched analyst expectations of $1.54 billion, based on an LSEG-compiled consensus.
BP’s full-year 2025 web revenue got here in at $7.49 billion, lacking analyst expectations of $7.58 billion. That is down from practically $9 billion in 2024.
BP mentioned the board determined to droop the share buyback and totally allocate extra money “to speed up strengthening” of its stability sheet. The agency’s earlier buyback was $750 million and was introduced alongside third-quarter leads to November.
For the fourth quarter, the corporate introduced a dividend per extraordinary share of 8.320 cents.
“2025 was a 12 months of robust underlying monetary outcomes, robust operational efficiency, and significant strategic progress,” Carol Howle, BP interim CEO, mentioned in a press release.
“Now we have made progress in opposition to our 4 main targets – rising money stream and returns, decreasing prices, and strengthening the stability sheet – however know there may be extra work to be accomplished, and we’re clear on the urgency to ship,” she added.
Woodside Power boss Meg O’Neill is scheduled to take the reins at BP on April 1, following Murray Auchincloss’ resolution to step down late final 12 months.
Shares of BP fell 5.4% throughout morning offers, slipping towards the underside of the pan-European Stoxx 600 index.
Another earnings highlights included:
- BP’s fourth-quarter web debt got here in at $22.18 billion, down from round $23 billion in the identical interval final 12 months.
- Fourth-quarter working money stream got here in at $7.6 billion, up from $7.43 billion a 12 months in the past.
- BP set its 2026 capital expenditure funds at $13 billion to $13.5 billion, reflecting the decrease finish of its steerage vary.
The outcomes come at a tricky time for Europe’s oil and fuel sector.
Oil costs notched their largest annual loss for the reason that Covid-19 pandemic final 12 months, partly as a consequence of oversupply considerations, ratcheting up the strain on Large 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.
BP, Equinor and Shell shares year-to-date
Equinor introduced it could scale back share buybacks to $1.5 billion this 12 months, down from $5 billion final 12 months, whereas additionally trimming investments in its renewables and low-emission vitality initiatives.
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.
