BP reported an underlying replacement cost profit of $2.3 billion for Q3 2024, down from $2.8 billion in Q2 and $3.3 billion in Q3 2023. The decrease was primarily due to weaker refining margins and a weak oil trading result.Operating cash flow was $6.8 billion, while net debt increased to $24.3 billion. Capital expenditure rose to $4.5 billion, including a $0.7 billion payment for German offshore wind. Upstream production grew 3% YoY to 2.4 million barrels of oil equivalent per day.BP announced a dividend of 8 cents per share and a $1.75 billion share buyback. The company remains committed to its financial frame and expects to deliver at least $2 billion in sustainable cash cost savings by 2026. BP completed acquisitions of bp Bunge Bioenergia and Lightsource bp in Q4, gaining full ownership of both entities.

BP reported an underlying replacement cost profit of $2.3 billion for Q3 2024, down from $2.8 billion in Q2 and $3.3 billion in Q3 2023. The decrease was primarily due to weaker refining margins and a weak oil trading result.Operating cash flow was $6.8 billion, while net debt increased to $24.3 billion. Capital expenditure rose to $4.5 billion, including a $0.7 billion payment for German offshore wind. Upstream production grew 3% YoY to 2.4 million barrels of oil equivalent per day.BP announced a dividend of 8 cents per share and a $1.75 billion share buyback. The company remains committed to its financial frame and expects to deliver at least $2 billion in sustainable cash cost savings by 2026. BP completed acquisitions of bp Bunge Bioenergia and Lightsource bp in Q4, gaining full ownership of both entities.