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Annual report 2017 cover image

We have successfully built a safer, more resilient and competitive BP: a distinctive business that is delivering sustainable value for investors.

3Q 2018 results

Strong momentum and high reliability

BP reports another quarter of strong earnings driven by high reliability and strategic delivery in its latest results

 

Our focus on safe and reliable operations and delivering our strategy is driving strong earnings and growing cash flow. Operations are running well across BP and we’re bringing new, higher-margin barrels into production faster through efficient project execution. We have made very good progress with our acquisition from BHP and expect to complete the transaction tomorrow. This will transform our position in the US Lower 48 and we expect it to create significant value for BP. This progress all underpins our commitment to growing distributions for our shareholders.
Bob Dudley Group chief executive

 

BP acquisition of BHP US onshore assets

East Texas F12 drill site

BP's purchase of  'world-class’ unconventional oil and gas assets from BHP is a move that upgrades and repositions its American onshore business.

 

Brian Gilvary, chief financial officer and Bernard Looney, chief executive, Upstream hosted a webcast to discuss the acquisition of a  portfolio includes assets in the highly-prized Permian-Delaware basin in Texas and two premium positions in the Eagle Ford and Haynesville basins in Texas and Louisiana.

BP strategy update 2018

Group chief executive Bob Dudley and members of the executive team provided a strategic update for the group 's progress on the medium to long-term strategy laid out in 2017. 

BP's strategy is underpinned by a strong suite of growth opportunities in our Upstream and Downstream businesses, and in due course in the area of Alternative Energy and other low carbon options.