BP Plc (BP) said its reported upstream production in the fourth quarter is expected to be broadly flat compared to the prior quarter, with production broadly flat in oil production & operations and lower in gas & low carbon energy. Net debt at the end of the fourth quarter is projected to be in the range of $22 to 23 billion compared to $26.1 billion at the end of the third quarter. This includes proceeds received from divestments of around $3.5 billion, bringing the full year amount to around $5.3 billion compared to the previous guidance of above $4 billion.
The Group noted that underlying effective tax rate for the full year is expected to be around 42% compared to the previous guidance of around 40% primarily due to changes in the geographical mix of profits.
bp's group results for the fourth quarter and full year 2025 are expected to be published on 10 February 2026.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.