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Oil major BP suspends buybacks in fresh sign of oil price pressure

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.

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The Herald Scotland

Lean Left

Shares tumble in oil giant as buyback suspension disappoints City

BP ramps up cost-cutting efforts ahead of new chief executive joining in April

7 months ago·Glasgow, United Kingdom

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The Globe & Mail

Center

BP suspends buyback to trim debt and takes $4-billion in charges, shares fall

Under new CEO Meg O’Neill, who starts in April, the oil major plans to refocus investment in oil and gas projects delivering better returns

7 months ago·Toronto, Canada

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Sky News UK

Center

BP annual profits slide 16% on weaker oil prices

Shares open down as investors digest a tougher end to the last financial year and face up to competing forces over the company's direction, despite BP's clear shift back towards oil and gas.

7 months ago·United Kingdom

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Star Local

+13 Reposted by 13 other sources

Center

BP profits slide awaiting new CEO

British oil giant BP announced Tuesday an 86 percent slide in annual net profit, hit by lower crude prices and a huge write-down linked to its green energy transition.

7 months ago

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Devdiscourse

Center

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…

7 months ago·India

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