Investors
We are an integrated energy company, one of only a few that can deliver energy at global scale through a decades-long energy transition. Our purpose is to deliver energy to the world, today and tomorrow.
4Q 2025 results
Good progress on our primary targets to grow cashflow and returns, reduce costs and strengthen the balance sheet is contributing to our goal to build a simpler, stronger and more valuable bp
2025 was a year of strong underlying financial results, strong operational performance, and meaningful strategic progress. We have made progress against our four primary targets - growing cash flow and returns, reducing costs, and strengthening the balance sheet - but know there is more work to be done, and we are clear on the urgency to deliver. With a continued emphasis on capital discipline and returns, we are reducing capital expenditure for 2026 to the lower end of the guidance range, while continuing to drive down our cost base. We are also taking decisive action to high-grade our portfolio and strengthen our company, including the execution of our $20bn disposal programme and the decision to suspend the share buyback and fully allocate excess cash to our balance sheet. These decisions position us to progress long term value growth through the distinctive opportunity set we are creating in our upstream business, including the Bumerangue discovery in Brazil, where our initial estimates indicate around 8 billion barrels of liquids in place. We look forward to Meg O'Neill joining as CEO in April as we accelerate our progress to build a simpler, stronger and more valuable bp for the future. We are in action and we can and will do better for our shareholders
Carol Howle,interim chief executive officer
Carol Howle,interim chief executive officer
Why invest in bp
Our strategy builds on bp’s distinct strengths and competitive advantages as an integrated energy company