Our results this quarter show we are making progress delivering on our strategy. Take a look at some of the key highlights below.
"We’ve delivered another quarter of good performance across the business with operations continuing to run well."
Growing the upstream
Oil and gas production up by around 3% on the previous quarter for a second quarter in a row
Upstream plant reliability around 97%
Murlach in the North Sea started up. It’s our sixth major oil and gas project brought online this year, four of which were ahead of schedule
Two more discoveries, taking the total to 12, in an exceptional year for exploration
Test data indicates a 1,000 metre-thick column of potential hydrocarbon-bearing rock, increasing our confidence in the potential of the Bumerangue discovery in Brazil
Focusing the downstream
Highest 3Q underlying earnings on record for our customers business
Refining availability close to 97% - the best quarter for 20 years for our current refining portfolio
Operating cash flow increased by around $1.6 billion year-to-date, delivering about 40% of the $3.5-4 billion downstream target for 2027
Around half of customers & products’ contribution to the bp group’s 2027 target for structural cost reductions now delivered, with the cumulative total at $1.2 billion.
“We continue to make good progress to cut costs, strengthen the balance sheet and increase cash flow and returns. There’s much more to do, but three quarters into a 12-quarter plan we’ve got good momentum.”
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