US EditionBP to review assets and costs as profit beats expectations
UNITED KINGDOM, AUG 5 – BP's Q2 profit of $2.4 billion surpassed analyst estimates amid cost-cutting and its largest oil and gas discovery in 25 years, prompting a new cost review.
- British energy group BP reported a net profit of $1.63 billion for the second quarter ending June 30, 2025, beating earnings expectations.
- The profit rebound follows BP's fundamental reset earlier this year to move away from renewables and focus more on oil and gas amid shareholder pressure.
- BP has reduced its structural costs by $1.7 billion compared to 2023 levels and, together with incoming chairman Albert Manifold, is launching a comprehensive review of its business portfolio to enhance shareholder value.
- Chief executive Murray Auchincloss said, "BP can and will do better for its investors" as the company pursues further cost reviews without compromising safety.
- The profit beat and strengthened cost discipline suggest BP is balancing near-term performance with long-term potential despite weaker oil prices and industry challenges.
53 Articles
53 Articles
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BP Tops Q2 Profit Estimate as CEO Vows To “Do Better” for Investors
Despite a drop in earnings from a year earlier, BP (NYSE: BP) beat the second-quarter profit estimates as its chief executive Murray Auchincloss said that the UK supermajor “can and will do better for its investors.” BP on Tuesday reported an underlying replacement cost profit – the closest metric to net profit – of $2.4 billion for the second quarter, down from $2.76 billion for the same period of 2024, but well ahead of a company-provided ana…
The Indiana Gazette Online
Ashley County LedgerOil giant BP surprises with better than expected earnings
Oil giant BP, which recently pivoted away from green energy, posted Tuesday better-than-expected quarterly earnings and announced a fresh review of costs.
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