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bp is pursuing its strategy to become an integrated energy company delivering solutions to customers

1Q 2022 results

Against a backdrop of volatility in energy markets, our results show our disciplined delivery continues, with net debt falling for the eighth quarter in a row and a further $2.5 billion share buyback announced

In a quarter dominated by the tragic events in Ukraine and volatility in energy markets, bp's focus has been on supplying the reliable energy our customers need. Our decision in February to exit our shareholding in Rosneft resulted in the material non-cash charges and headline loss we reported today. But it has not changed our strategy, our financial frame, or our expectations for shareholder distributions. Importantly bp continues to perform and step-by-step we are making progress executing our IEC strategy - producing resilient hydrocarbons to provide energy security while investing with discipline in the energy transition."Bernard Looney,chief executive officer
bp week image of cityscape

bp week

Over three afternoons on 14-16 September 2020, chief executive officer Bernard Looney and members of his leadership team offered further insight into bp’s new strategy, which was launched on 4 August

From IOC to IEC: bp’s new strategy

Wind turbines in the mountains
Our net zero ambition: bp announces new strategy and a shift to low carbon and customer focus alongside resilient operating performance.