Published • loading... • Updated
Oil major BP suspends buybacks in fresh sign of oil price pressure
BP's board suspended share buybacks to focus on debt reduction and cost savings after a 16% fall in 2025 underlying profits to $7.5 billion amid weaker oil prices.
- On March 15, 2025, BP suspended its share buyback programme and said it would fully allocate excess cash to strengthen the balance sheet, raising its cost-savings target to 5.5 billion dollars to 6.5 billion dollars.
- Falling crude prices and sector weakness hit Europe's oil sector last year, while BP faced investor pressure from Elliott Investment Management and leadership turmoil after Murray Auchincloss left.
- Financial filings show underlying replacement cost profit fell 16% to 7.49 billion dollars for 2025, with fourth-quarter underlying profit at 1.54 billion dollars, down 30%.
- The suspension shifts excess cash to shore up the balance sheet as BP executes a 20 billion dollar disposal programme and trims capital expenditure for 2026 to the lower end of guidance.
- Carol Howle, BP interim chief executive, said urgent progress is needed while Meg O'Neill, incoming CEO, starts on April 1; rivals Equinor cut buybacks to $1.5 billion, Shell held steady at $3.5 billion.
Insights by Ground AI
Podcasts & Opinions
59 Articles
59 Articles
Luxury Stocks Surge Amidst BP's Buyback Suspension
Luxury Stocks Surge Amidst BP's Buyback Suspension On Tuesday, Europe's benchmark STOXX 600 share index remained stable, as BP's sharp decline offset gains in luxury stocks following an upbeat earnings report from Kering. BP fell by 4% after announcing a pause in its share buyback program and a significant write-down in its renewables and biogas units.The general energy sector experienced a 0.7% dip. According to Joshua Sherrard-Bewhay, ESG anal…
·India
Read Full Article
BP wants to save more money than previously announced, the company announced in its annual results. The oil and gas company is under pressure to achieve better results faster.
·Apeldoorn, Netherlands (Kingdom of the)
Read Full ArticleCoverage Details
Total News Sources59
Leaning Left8Leaning Right6Center16Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 27%
C 53%
R 20%
Factuality
To view factuality data please Upgrade to Premium
