Live-News • Jul 27
BP Boardroom Dispute Surfaces as Former Chairman Sought Major Governance Changes Former BP chairman Albert Manifold was reportedly preparing to remove senior independent director Dame Amanda Blanc and introduce strict six-year term limits for directors as part of a board shake-up before his own ousting. BP stated that the board was never formally presented with these plans and that there were serious allegations against him.
This governance dispute highlights internal board tensions at BP and raises the prospect that questions around director tenure, independence and oversight could resurface in future governance reviews or at shareholder meetings.
BP shares trade at around £5.48, with the stock up about 25.2% year to date, placing this boardroom story against a backdrop of recent share price strength.
The key read-through is that investors now have more clarity that BP’s leadership changes involved deeper governance disagreements, which could influence future board composition debates and how shareholders judge oversight quality. Live-News • Jul 25
BP Advances Toward Sale of UK Solar Farms to Kuwait Sovereign Fund Investors BP is in advanced talks to sell its British solar business, Lightsource, which has developed more than 300 UK solar farms, to investors including Qualitas Energy and Wren House, the infrastructure arm of Kuwait’s sovereign wealth fund, with proceeds intended in part for debt reduction.
The potential sale follows BP’s write-down of a significant portion of its low-carbon division and aligns with a broader refocus on core oil and gas operations, while still keeping some exposure to energy transition projects such as its Tangguh Ubadari CCUS development in Indonesia.
BP shares trade around £5.48, with the stock up 25.2% year to date, indicating the market has recently rewarded the group even as it reshapes its energy mix and trims lower-return or more complex businesses.
This pivot highlights a clear trade-off for investors between BP’s emphasis on near-term cash generation and balance sheet repair and the reduced direct ownership of UK solar growth assets. Ankündigung • Jul 25
BP p.l.c. Reportedly In Advanced Talks To Sell Solar Power Arm Lightsource to Consortium Backed By Kuwait Investment Authority BP p.l.c. (LSE:BP.) is in advanced talks to sell its solar power arm Lightsource to a consortium backed by Kuwait's sovereign wealth fund as the oil major retreats from renewables after abandoning a years-long green energy push. Qualitas Energy, a private equity firm focused on green energy, and Wren House, the infrastructure arm of Kuwait Investment Authority, have teamed up to bid for Lightsource, according to several people familiar with the matter. Analysts said the main attraction of the deal for BP was offloading the unit's billions of dollars in debt, and that the sale price was unlikely to be significant for the group. The sale of Lightsource, which was the largest solar developer in Europe when BP first invested in it in 2017, is part of a drive by BP to sell assets as it seeks to reduce debt and refocus on oil and gas after an ill-fated shift towards green energy, which it abandoned last year. While the consortium has emerged as the final bidder in the Lightsource sale process and a deal is expected soon, the people familiar with the matter cautioned the transaction was not yet confirmed and could fall through. The deal would add to the portfolio of Wren House, which has invested in assets including Associated British Ports and London City Airport since it was set up by Kuwait in 2013 as a Europe-focused infrastructure investor. The sale would be a boost for BP's new chief executive Meg O'Neill, who has endured a tumultuous beginning to her reign, including the sacking of chair Albert Manifold over "serious concerns" about his behavior. The dismissal sparked a public backlash from the Irish executive, who denied misconduct, and caused further upheaval at BP as O'Neill attempts to stabilise the business after a series of strategy and leadership changes this decade. Lightsource has 4 gigawatts of solar, wind and battery capacity in operation across 15 countries, roughly enough to be able to power up to 4 million homes. BP was previously seeking a new partner for the business before eventually deciding to put it all up for sale. The deal is likely to involve a buyer agreeing to take on several billion dollars of Lightsource's debt. Two years ago, BP paid more than $500 million to buy out its previous partner's 50% stake in a deal that saw it take on $2.8 billion of debt. Analysts questioned executives on the sale in February, with one asking if there was any "equity value" in the unit. BP said last year it would write off more than $4 billion of value attributed to Lightsource and its biogas company Archaea and has flagged another renewables-linked impairment of $1 billion to come in its second-quarter results next month. BP's decision to put Lightsource up for sale comes as O'Neill attempts to shore up the UK oil major's balance sheet and slim down the business to focus on oil and gas production, refining and trading. BP, Qualitas and Wren House declined to comment. Live-News • Jul 24
BP Agrees to Sell Austrian Retail and EV Operations to Volenergy in Portfolio Shift BP has agreed to sell its Austrian convenience retail, mobility and EV charging operations, covering 250 BP‑branded sites, to Swiss energy company Volenergy AG. Completion is targeted by the end of 2026, and future use of the BP brand is secured via a licensing agreement.
The transaction is part of BP’s ongoing portfolio review aimed at simplifying its downstream operations and directing capital toward markets and businesses where it sees stronger return potential, while keeping consumer-facing brand visibility in Austria.
BP shares trade around £5.56, with the stock up 26.9% year to date.
This reshaping of BP’s downstream footprint points to a tighter focus on where capital is deployed, while the licensing deal preserves fuel and convenience branding in Austria, which could matter for longer-term brand equity even as ownership and operational risk shift to Volenergy. Live-News • Jul 19
ConocoPhillips Takes 42% Stake in BP’s $25b Kirkuk Oilfields Project in Iraq ConocoPhillips has agreed to buy a 42% stake in BP Energy Company of Kirkuk Limited, joining BP in a roughly $25b redevelopment of four oilfields in Iraq’s Kirkuk region that target more than 3b barrels of oil equivalent, with closing expected by year-end subject to approvals.
BP will remain the majority shareholder in the Kirkuk project, which is operated by Iraq’s Northern Oil Company and currently produces around 300,000 barrels per day, aligning the company with Baghdad’s push to attract large U.S. oil investments alongside separate talks with Chevron.
BP’s shares trade around £5.17, with the stock up about 18.1% year to date, reflecting a period of stronger recent performance despite a weaker 90 day stretch.
This Kirkuk partnership shifts some capital and operating risk onto a large U.S. partner while keeping BP in control, so the key watchpoints are execution in Iraq and how the company balances this long-life oil project with its wider portfolio priorities. Live-News • Jul 17
BP to Close Ventures Unit and Divest Tech Stakes to Verdane by 2027 BP is shutting down its corporate venturing arm, BP Ventures, after almost 20 years and plans to sell minority stakes in more than 10 energy-related technology companies to Nordic private equity firm Verdane, with the deal targeted for completion by the second quarter of 2027 subject to approvals.
The company will keep a small number of venture investments where the technology is seen as directly useful for BP’s core operations, such as applications similar to Oxbotica’s autonomous vehicle work at the Lingen refinery in Germany.
BP shares trade around £5.10, with the stock up 16.5% year to date, putting recent capital allocation decisions under closer scrutiny.
This move points to BP tightening its focus on projects that link more clearly to its main oil and gas operations, which could reduce optionality in early-stage technologies while sharpening how corporate capital is deployed. Live-News • Jul 15
BP Guides to Higher Q2 Earnings as $1 Billion Impairment Signals Operational Shift BP expects around $1b in second quarter impairment charges tied mainly to its gas and low-carbon energy segments, as it scales back transition projects and refocuses on traditional oil and gas under new CEO Meg O’Neill, with results due on 4 August.
The company also guides to stronger second quarter earnings supported by higher oil and gas prices, better refining margins and firm oil trading, while targeting a net debt reduction of at least $2.3b. This points to a tighter balance sheet alongside the reset in transition spending.
BP shares trade at about £5.17, with the stock up 17.9% year to date, and recent gains coming as investors react to the earnings outlook and clearer emphasis on conventional operations.
The read-through is that BP is prioritising cash generation and balance sheet repair over rapid low-carbon expansion, which may change how you weigh its cyclical exposure against its long-term transition ambitions. Ankündigung • Jul 14
BP p.l.c. Provides Production Guidance for the Second Quarter of Fiscal 2026 BP p.l.c. provided production guidance for the second quarter of fiscal 2026. For the period, it expects upstream production of 2,170 mboe/d to 2,220 mboe/d, oil production & operations production of 1,420 mboe/d to 1,450 mboe/d) and gas & low carbon energy production of 750 mboe/d to 770 mboe/d. Live-News • Jul 09
BP Explores Full UK North Sea Withdrawal Under CEO Meg O’Neill’s Overhaul BP is reportedly weighing a full exit from the UK North Sea under new CEO Meg O'Neill, as part of a push to simplify the company, cut costs and make fewer, more selective investment decisions, with UK taxation cited as a key factor.
The potential withdrawal would mark a break from BP’s historic reliance on the North Sea for upstream production and could reshape long-term production footprints, regional employment and how capital is allocated between its Upstream and Downstream businesses.
BP shares trade around £4.82, with the stock down about 9.0% over the past 30 days, as the market digests a broader reshaping of the portfolio, including changes to both fossil fuel and renewable project commitments.
The main investor question is how far BP goes in shrinking legacy assets like the North Sea and how any proceeds or freed-up capital might be redirected across its simplified Upstream, Downstream and trading operations. Ankündigung • Jul 07
Equinor ASA (OB:EQNR) agreed to acquire remaining 37.21% stake in Bay du Nord project offshore Canada from BP p.l.c. (LSE:BP.). Equinor ASA (OB:EQNR) agreed to acquire remaining 37.21% stake in Bay du Nord project offshore Canada from BP p.l.c. (LSE:BP.) on July 6, 2026. Upon completion, Equinor ASA will own 100% stake in Bay du Nord project offshore Canada.
Equinor will continue maturing the project towards a final investment decision, currently targeted for early 2027, subject to market conditions, regulatory approvals and internal approvals. Live-News • Jul 06
BP Ousts Chairman Manifold After Board Reduction Plan and Governance Review BP said chairman Albert Manifold was unexpectedly fired after eight months in the role, citing “serious concerns related to governance standards, oversight and conduct,” shortly after he drafted plans to cut the board from 10 directors to eight.
The governance review and proposed reduction in board size point to internal disagreement over how BP’s board should operate and oversee management, which could affect how decisions on capital allocation and strategy are challenged in the boardroom.
BP’s shares trade at about £4.67, with the stock down roughly 14.4% over the past month, setting this governance shake-up against a period of recent share price pressure.
Boardroom instability at this level can increase uncertainty around BP’s future oversight and decision making, so investors are likely to pay close attention to how quickly a new chair is appointed and whether the governance review continues in its current form. Live-News • Jul 03
BP Expands Offshore Role With New ONGC Technical Services Contract in India On 25 June, BP finalized a Technical Services Contract with India’s state-backed ONGC, under which BP will provide technical support across ONGC’s Western Offshore Basin fields, extending an existing relationship that previously focused on the Mumbai High field.
The agreement broadens BP’s role from a single field to a wider offshore region, giving the company deeper involvement in well, reservoir and production facility work with a major national oil producer.
BP shares trade at about £4.67, with the stock down 14.4% over the past 30 days.
This expanded contract in India adds another international project stream to BP’s portfolio and reinforces its position as a technical partner to national oil companies. Recent share price weakness leaves execution risk and contract delivery as key things to watch. Ankündigung • Jul 01
Bp plc Announces Executive Changes BP PLC announced that Carol Howle will retire from BP in the third quarter after 26 years with the company. Carol Howle was named deputy CEO less than three months before her retirement announcement and has been executive vice president of supply, trading and shipping since 2020. BP's previous deputy CEO was Lamar McKay, who held the role from 2016 until 2019, when he became chief transition officer. Sam Skerry will replace Howle as executive vice president of supply, trading and shipping, effective August 1, 2026. Skerry has been with BP for almost 30 years, most of which in trading across oil, natural gas and derivatives. Most recently, she has been senior vice president of mergers and acquisitions and business development. BP also announced that Kerry Dryburgh, executive vice president of people, culture and communications, made a personal decision to leave the company after 16 years and will step down in the third quarter. Sonya Adams will replace Dryburgh as BP's new executive vice president of people and culture, effective August 1, 2026. Adams has been with BP for more than 25 years in a variety of senior leadership roles across Asia Pacific, Europe and the U.K. She has worked in customers and products, finance, and transformation, and she most recently has served as chief of staff to the CEO. In May 2026, BP's board of directors unanimously decided to remove Albert Manifold from both the chairman position and the board after serious concerns were raised related to important governance standards, oversight and conduct. Manifold had only been in the chairman role since October 1, 2025. Ian Tyler, who has been on BP's board since April 2025, has been named interim chair while the board works to select a permanent replacement. Live-News • Jun 23
BP and Eni Approve Major Angola Oil Project as Saipem Wins $1 Billion Contract BP and Eni, through their Azule Energy joint venture, approved the final investment decision for the Greater PAJ offshore oil development in Angola, a cross-block project targeting first oil in the first half of 2029 and involving a large FPSO plus subsea work by Saipem under a $1b contract and flexible flowlines and risers from TechnipFMC.
The Greater PAJ project expands BP’s upstream presence in Sub-Saharan Africa and involves partners Equinor, ANPG and Sonangol, indicating a long-term production and capital commitment with complex deepwater operations at depths up to 2,000 meters.
BP’s shares trade around £5.00, with the stock up 14.2% year to date, while the company also faces a separate lawsuit in California alleging use of artificial intelligence to coordinate retail gasoline prices.
This combination of a large, long-dated offshore development and fresh legal risk gives BP investors a mix of future production potential and ongoing headline and regulatory exposure to weigh. Ankündigung • Jun 19
BP Reportedly Holds Talks to Sell North Sea Oil and Gas Production Portfolio to Ithaca Energy BP p.l.c. (LSE:BP.) held talks to sell its North Sea business has been seized on by critics of the oil and gas windfall tax although it made clear some firms remain keen to invest in the area. BP was reported this month to have held talks about the sale of its entire North Sea oil and gas production portfolio to Ithaca Energy plc (LSE:ITH) for £2 billion. The sale would have been loaded with symbolism amid fears the once mighty North Sea industry is on a path of decline that will leave it playing only a minor role in the global energy ecosphere. London-based BP has been active in the North Sea since the early days of the basin. The group employs 1,000 people in Aberdeen and offshore operations run from the city. These include stakes in the Clair field West of Shetland, which is the biggest on the UK Continental Shelf. Ithaca is a relative newcomer compared to BP. It is owned by an Israeli corporation. The talks between the firms were reported by the FT, which said new BP chief executive Meg O'Neill had expressed concern about the North Sea fiscal regime. A veteran of the US oil business, Ms. O'Neill was recruited to shake-up BP following a period in which the firm invested heavily in low carbon energy projects only to decide it could make more money in the hydrocarbon production business. The report of the talks between BP and Ithaca provided ammunition for opponents of the windfall tax, who have claimed it has made the North Sea ‘uninvestable’. But those who try to use the talks between BP and Ithaca to justify attacks on the levy ignore the fact the discussions indicate serious players are keen to take the place of firms that quit the North Sea. Ithaca was probably confident about funding a £2 billion deal because the company is in the happy position of generating huge amounts of cash in the North Sea, where it has become a major player on the back of a series of acquisitions. Live-News • Jun 14
BP Restructures Leadership and Sells Gulf Stakes While Whiting Labor Dispute Continues BP is restructuring into two core segments, Upstream and Downstream, under new CEO Meg O’Neill from July 1, 2026. The changes include new leadership appointments and a renewed focus on oil and gas operations.
The company has started marketing minority stakes in its Kaskida and Tiber Gulf of Mexico projects, each designed for around 80,000 barrels per day. BP aims to share development costs while retaining involvement in these projects.
A lockout at BP’s Whiting refinery continues as contract negotiations with United Steelworkers Local 7-1 remain unresolved after nearly three months, raising questions about potential effects on operations.
Taken together, the new segment structure, project farm-downs in the Gulf of Mexico, and ongoing labor dispute indicate BP is concentrating on capital discipline and operational execution while managing labor and execution risk around key assets.
Investors may want to monitor how quickly BP fills the permanent Downstream leadership role, the terms achieved on the Kaskida and Tiber stake sales, and any operational or financial impact if the Whiting refinery lockout continues. Ankündigung • May 26
Bp P.L.C. Announces Board Changes, with Effect from 26 May 2026 BP p.l.c. announced that it has decided that Albert Manifold should no longer serve as Chair and Director with immediate effect. This follows serious concerns raised to the Board related to important governance standards, oversight and conduct. The Board has appointed Ian Tyler as Interim Chair with immediate effect. A succession process for a permanent Chair will be initiated. Ankündigung • May 24
BP p.l.c. Reportedly Evaluates Potential Sale of Natural Gas Assets in Egypt BP p.l.c. (LSE:BP.) is reportedly evaluating a potential sale of some of its natural gas assets in Egypt as part of a broader portfolio review under new chief executive Meg O'Neill. As of May 18, 2026, four people familiar with the matter said no final decision has been made regarding a divestiture, and the process remains at an early stage. The West Nile Delta project comprises five gas fields located in the North Alexandria and West Mediterranean Deepwater offshore blocks and has been central to BP's footprint in the country. A sale of these assets could alter BP's strategic positioning in a key market and affect investors watching the company's portfolio choices. Recent Insider Transactions • May 22
Deputy Chief Executive Officer recently sold UK£2.0m worth of stock On the 18th of May, Carol-Lee Howle sold around 350k shares on-market at roughly UK£5.59 per share. This transaction amounted to 53% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£3.1m more than they bought in the last 12 months. Ankündigung • May 20
Bp Introduces New Bp Rewards Visa Card with Enhanced Fuel Savings and Rewards Bp is offering new bp rewards Visa cardmembers 50¢ off per gallon at bp and Amoco stations for the first 60 days, and 15¢ off per gallon after that. Introductory offer is for new accounts opened by September 30, 2026. The card has no annual fee and offers unlimited rewards potential with no cap on spending categories. All bp rewards Visa cardmembers will also see a wider range of redemption options. This summer, bp is offering new bp rewards Visa cardmembers a limited time introductory offer of 50 cents off every gallon of fuel at bp and Amoco stations for the first 60 days. For a new cardmember who fills up their 15-gallon tank once a week, that equals more than $60 of savings in just two months. This limited time offer is available to new bp rewards Visa cardmembers who apply by September 30, 2026. The bp rewards Visa, recognized as one of 2025’s Best Gas Credit Cards by WalletHub, is issued by First National Bank of Omaha (FNBO) and can be used anywhere Visa is accepted. Cardmembers have several options to redeem their credit card rewards including cash back, bp Amoco gift cards, account statement credit, and gift cards from major retailers. The bp rewards Visa card offers unlimited rewards potential with no cap on spending categories and earns cash back on non-fuel purchases. The card provides access to a range of rewards: 5x points on non-fuel purchases at bp and Amoco stations (including convenience store and car wash purchases), 3x points on grocery purchases, 3x points on dining purchases (including restaurants, take-out, and food delivery services), 1x point on all other qualifying purchases. Must apply here for this offer by September 30, 2026. Offers vary elsewhere. Offer is for new accounts only. See the Rewards Terms and Conditions for details, including earning, redemption, expiration, and forfeiture (subject to applicable law). Valid at participating bp and Amoco stations. Restrictions may apply. For additional information about Annual Percentage Rates (APRs), fees and other costs, see the Summary of Credit Terms. $60 in savings is based on a 50-cent per gallon discount, assuming a 15-gallon fill-up once per week for 8 weeks. Cards are issued by First National Bank of Omaha (FNBO), pursuant to a license from Visa U.S.A. Inc. Visa and Visa Signature are registered trademarks of Visa International Service Association and used under license. Live-News • May 08
BP Delivers Strong Q1 Results With Dividend Hike and Governance Shakeup BP reported Q1 2026 earnings per share of $1.24, with profit more than doubling year over year, supported by higher upstream production, stronger refining margins and robust oil trading during volatile markets linked to the Iran conflict.
The company reaffirmed full-year 2026 capital expenditure guidance of $13b to $13.5b, targets $20b of asset disposals by 2027 for deleveraging, and lifted its quarterly dividend by 4%. It is also progressing a shift back to a simpler two-unit (upstream/downstream) structure under new CEO Meg O’Neill.
Governance has come under pressure after the abrupt removal of Chairman Albert Manifold over conduct and oversight concerns, which triggered a share price drop and leaves Ian Tyler as interim chair while BP searches for a permanent replacement.
The mix of stronger Q1 results, continued debt-reduction plans and higher dividends indicates a company focused on cash generation and balance sheet repair, while also simplifying its structure and refocusing on exploration-led upstream activity. This includes 14 discoveries since early 2025 and a push toward a 100% reserve replacement ratio by 2027.
At the same time, the chairmanship upheaval and broader management reshuffle introduce governance and execution risk that you may want to watch closely, especially as BP pursues large asset sales and a more concentrated oil and gas strategy. Ankündigung • May 04
BP Reportedly Considers Potential Exit from UK North Sea BP p.l.c. (LSE:BP.) is considering potentially exiting part or all of its operations in the UK North Sea, Bloomberg News reported, citing people familiar with the matter, as the energy major seeks to cut debt amid a pivot back to oil and gas. The company is conducting an internal review of its upstream operations in the UK, which could fetch about GBP 2,000 million ($2.72 billion) in a full divestment, according to the report. BP did not immediately respond to a Reuters request for comment. Carol Howle, BP's deputy CEO, is overseeing the energy giant's ongoing portfolio review and strategy development. Last year, the company sold its stake in some of the North Sea assets to Serica Energy in a $232 million deal. Board Change • Apr 30
High number of new directors There are 6 new directors who have joined the board in the last 3 years. CEO & Director Meg O’Neill was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 28
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$0.25 (up from US$0.044 in 1Q 2025). Revenue: US$51.8b (up 12% from 1Q 2025). Net income: US$3.84b (up 459% from 1Q 2025). Profit margin: 7.4% (up from 1.5% in 1Q 2025). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 47%. Revenue is forecast to stay flat during the next 3 years compared to a 2.5% growth forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Ankündigung • Apr 20
Legal & General Investment Management Will Vote Against The Re-Election Of Chairman Manifold On April 19, 2026, Legal & General Investment Management (LGIM) announced that it will vote against the re-election of chairman Manifold and oppose BP's plans to cut back on climate reporting. Further, LGIM stated that Manifold an outsider to the oil and gas industry has only been in the job for less than a year. In addition, Glass Lewis an proxy agent advises shareholder’s to oppose Manifold's re-election. Ankündigung • Apr 15
BP P.L.C. Updates Production Guidance for the First Quarter of 2026 BP p.l.c. updated production guidance for the first quarter of 2026 . For the quarter, the company reported upstream production in the first quarter is expected to be broadly flat compared to the fourth quarter 2025 (2,344 mboe/d). Within this, gas & low carbon energy is expected to be slightly higher compared to the fourth quarter 2025 (788 mboe/d). Oil production & operations is expected to be slightly lower compared to the fourth quarter 2025 (1,555 mboe/d) including price impacts on PSA and TSC entitlement volumes. Major Estimate Revision • Apr 14
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from US$0.693 to US$0.775. Revenue forecast steady at US$214.1b. Net income forecast to grow 20,210% next year vs 34% growth forecast for Oil and Gas industry in the United Kingdom. Consensus price target up from UK£5.58 to UK£5.83. Share price fell 5.4% to UK£5.65 over the past week. Major Estimate Revision • Apr 07
Consensus EPS estimates increase by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$196.6b to US$212.8b. EPS estimate increased from US$0.557 to US$0.692 per share. Net income forecast to grow 17,903% next year vs 34% growth forecast for Oil and Gas industry in the United Kingdom. Consensus price target up from UK£5.30 to UK£5.69. Share price was steady at UK£5.91 over the past week. Major Estimate Revision • Mar 30
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$178.7b to US$196.6b. EPS estimate unchanged from US$0.56 at last update. Oil and Gas industry in the United Kingdom expected to see average net income growth of 43% next year. Consensus price target up from UK£5.12 to UK£5.32. Share price rose 12% to UK£6.02 over the past week. Major Estimate Revision • Mar 18
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 consensus EPS increased from US$0.457 to US$0.529. Revenues were reaffirmed at US$175.6b. Net income forecast to grow 13,454% next year vs 30% growth forecast for Oil and Gas industry in the United Kingdom. Consensus price target broadly unchanged at UK£4.97. Share price rose 8.1% to UK£5.56 over the past week. Major Estimate Revision • Mar 13
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 consensus EPS increased from US$0.44 to US$0.496. Revenues were reaffirmed at US$175.6b. Net income forecast to grow 13,454% next year vs 30% growth forecast for Oil and Gas industry in the United Kingdom. Consensus price target broadly unchanged at UK£4.99. Share price rose 7.1% to UK£5.34 over the past week. Ankündigung • Mar 06
BP p.l.c. Announces Directorate Retirements, Effective April 23, 2026 BP p.l.c. announced that after nine years' service as a non-executive director, Melody Meyer will be retiring from the board at the conclusion of the 2026 annual general meeting (AGM) of the Company on April 23, 2026. Karen Richardson and Simon Henry, both non-executive directors, have also advised the board that they will not be seeking election or re-election by shareholders at the AGM. They will therefore step down from the board at the conclusion of the AGM. Declared Dividend • Feb 12
Fourth quarter dividend of US$0.083 announced Shareholders will receive a dividend of US$0.083. Ex-date: 19th February 2026 Payment date: 27th March 2026 Dividend yield will be 5.8%, which is lower than the industry average of 6.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 95x earnings). However, it is well covered by cash flows (45% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 10,472% to bring the payout ratio under control. EPS is expected to grow by 114% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Ankündigung • Feb 12
MVM Energetika Zártköruen Muködo Részvénytársaság acquired 10% stake in Shafag (jabrayil) Solar Limited from BP p.l.c. (LSE:BP.). MVM Energetika Zártköruen Muködo Részvénytársaság acquired 10% stake in Shafag (jabrayil) Solar Limited from BP p.l.c. (LSE:BP.) on February 11, 2026. The ownership of Shafag (jabrayil) Solar Limited following the deal is BP p.l.c. - 40.01%, SOCAR Green - 39.99%, Azerbaijan Business Development Fund (ABDF) - 10% and MVM - 10%.
MVM Energetika Zártköruen Muködo Részvénytársaság completed the acquisition of 10% stake in Shafag (jabrayil) Solar Limited from BP p.l.c. (LSE:BP.) on February 11, 2026. Reported Earnings • Feb 11
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: US$0.003 (down from US$0.024 in FY 2024). Revenue: US$187.6b (flat on FY 2024). Net income: US$54.0m (down 86% from FY 2024). Profit margin: 0% (down from 0.2% in FY 2024). Combined production Oil equivalent production: 830.011 MMboe (846.558 MMboe in FY 2024) Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 99%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Ankündigung • Jan 21
BP p.l.c., Annual General Meeting, Apr 01, 2026 BP p.l.c., Annual General Meeting, Apr 01, 2026. Major Estimate Revision • Jan 17
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from US$0.405 to US$0.463. Revenue forecast steady at US$186.6b. Net income forecast to grow 333% next year vs 16% growth forecast for Oil and Gas industry in the United Kingdom. Consensus price target broadly unchanged at UK£4.78. Share price rose 3.4% to UK£4.40 over the past week. Ankündigung • Jan 14
BP P.L.C. Updates Production Guidance for the Fourth Quarter of 2025 BP P.L.C. updated production guidance for the fourth quarter of 2025. For the quarter, Reported upstream production in the fourth quarter is expected to be broadly flat compared to the prior quarter, with production broadly flat in oil production & operations and lower in gas & low carbon energy. Ankündigung • Dec 19
Bp P.L.C. Announces Murray Auchincloss Steps Down as Director of the Board, Effective 18 December, 2025 BP p.l.c. announced that Murray Auchincloss has decided to step down from his position as director of the Board, effective 18 December. Murray will serve in an advisory role until December 2026 to ensure a smooth transition. Ankündigung • Dec 18
BP p.l.c Announces CEO Changes BP p.l.c announced that the bp Board has appointed Meg O’Neill as bp’s next chief executive officer (“CEO”), effective 1 April 2026. Murray Auchincloss has decided to step down from his position as CEO, effective 18 December. Carol Howle, current executive vice president, supply, trading & shipping of bp, will serve as interim CEO until Meg joins as CEO. Murray will serve in an advisory role until December 2026 to ensure a smooth transition. Meg currently serves as CEO of Woodside Energy. Since her appointment as CEO in 2021, Meg O’Neill has grown Woodside Energy into the largest energy company listed on the Australian Securities Exchange. Among her many accomplishments at Woodside Energy, she oversaw the transformative acquisition of BHP Petroleum International, creating a geographically diverse business with a portfolio of high-quality oil and gas assets. Before joining Woodside Energy in 2018, Meg spent 23 years at ExxonMobil in technical, operational and leadership positions around the world. The appointment of Meg O’Neill follows a search process overseen by a search committee of the Board, assisted by an independent recruitment firm, as part of the Board’s long-term succession planning. Meg O’Neill has served as CEO of Woodside Energy since April of 2021, previously serving as Woodside Energy’s Chief Operations Officer, Executive Vice President Development, and Executive Vice President Development and Marketing. Prior to joining Woodside Energy in 2018, Meg spent 23 years with ExxonMobil in a variety of technical, operational and senior leadership roles in Houston, New Orleans, Indonesia, Canada and Norway, as well as regional and global leadership positions. She is Chair of the Australian oil and gas industry peak body, Australian Energy Producers (AEP), and serves on the boards of the Business Council of Australia and the American Petroleum Institute. Carol Howle has served as executive vice president, supply, trading & shipping at bp since July 2020. Prior to that, Carol ran bp shipping and was the chief operating officer for integrated supply and trading, oil. She has more than 20 years’ experience in the energy industry, many in integrated supply and trading. Her previous roles include chief operating officer for natural gas liquids, regional leader of global oil Europe and finance and head of the group chief executive’s office. Carol is a non-executive board member of the Royal Navy and chair of the Navy Audit and Risk Assurance Committee. Ankündigung • Dec 12
BP p.l.c. Appoints Dave Hager as Member of the Safety and Sustainability Committee, Effective 10 December 2025 BP p.l.c. announced that Dave Hager has been appointed as a member of the safety and sustainability committee with effect from 10 December 2025. Ankündigung • Nov 20
BP p.l.c. to Report Q4, 2025 Results on Feb 10, 2026 BP p.l.c. announced that they will report Q4, 2025 results at 7:00 AM, Coordinated Universal Time on Feb 10, 2026 Ankündigung • Nov 13
BP Reportedly in Talks with Stonepeak over Castrol Sale BP p.l.c. (LSE:BP.) is negotiating with US investment firm Stonepeak (Stonepeak Partners LP) to sell its Castrol lubricants unit, Reuters reported on November 12, 2025 citing sources. The potential deal could fetch around $8 billion, according to market analysts cited by the news agency. It would match BP's broader goal of achieving $20 billion in divestments. The sale process began earlier this year after BP announced a strategic review of the century-old lubricants business. In September, Stonepeak and private equity firm One Rock allegedly submitted bids, though it remains unclear if other parties are still involved or whether a deal will materialize, according to the people. Declared Dividend • Nov 06
Third quarter dividend of US$0.083 announced Shareholders will receive a dividend of US$0.083. Ex-date: 13th November 2025 Payment date: 19th December 2025 Dividend yield will be 5.8%, which is lower than the industry average of 6.7%. Sustainability & Growth Dividend is not covered by earnings (338% earnings payout ratio). However, it is well covered by cash flows (48% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 275% to bring the payout ratio under control. EPS is expected to grow by 107% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 05
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: US$0.075 (up from US$0.013 in 3Q 2024). Revenue: US$48.4b (up 2.5% from 3Q 2024). Net income: US$1.16b (up 464% from 3Q 2024). Profit margin: 2.4% (up from 0.4% in 3Q 2024). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Ankündigung • Oct 14
BP p.l.c. Provides Production Guidance for the Third Quarter and Full Year of 2025 BP p.l.c. provided production guidance for the third quarter of 2025. For the quarter, the company expects upstream production in the third quarter is now expected to be higher compared to the prior quarter, with production higher in both oil production & operations, primarily higher gas production in bpx energy, and in gas & low carbon energy.
For the year 2025, the company Reported upstream production to be lower and underlying upstream production to be slightly lower than 2024, of which oil production & operations broadly flat and gas & low carbon energy lower. Declared Dividend • Aug 07
Second quarter dividend of US$0.083 announced Shareholders will receive a dividend of US$0.083. Ex-date: 14th August 2025 Payment date: 19th September 2025 Dividend yield will be 6.3%, which is lower than the industry average of 6.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 9x earnings). However, it is covered by cash flows (60% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 916% to bring the payout ratio under control. EPS is expected to grow by 130% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 05
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.10 (up from US$0.008 loss in 2Q 2024). Revenue: US$46.2b (down 1.3% from 2Q 2024). Net income: US$1.63b (up US$1.76b from 2Q 2024). Profit margin: 3.5% (up from net loss in 2Q 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. Ankündigung • Aug 04
BP PLC Announces Oil and Gas Discovery at the Bumerangue Prospect in the Deepwater Offshore Brazil BP PLC announced an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil. bp drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 kilometres (218 nautical miles) from Rio de Janeiro, in a water depth of 2,372 metres. The well was drilled to a total depth of 5,855 metres. The well intersected the reservoir about 500 metres below the crest of the structure and penetrated an estimated 500 metre gross hydrocarbon column in high-quality pre-salt carbonate reservoir with an areal extent of greater than 300 square kilometres. Results from the rig-site analysis indicate elevated levels of carbon dioxide. bp will now begin laboratory analysis to further characterize the reservoir and fluids discovered, which will provide additional insight into the potential of the Bumerangue block. Further appraisal activities are planned to be undertaken, subject to regulatory approval. bp holds 100% participation in the block with Pre-Sal Petroleo S.A. as the Production Sharing Contract manager. bp secured the block in December 2022 during the 1st Cycle of the Open Acreage of Production Sharing of ANP, on very good commercial terms. Bumerangue is bp's tenth discovery in 2025 to date. bp has already announced oil and gas exploration discoveries at: Beryl and Frangipani in Trinidad, Fayoum 5 and El King in Egypt, Far South in the Gulf of America, Hasheem in Libya and Alto de Cabo Frio Central in Brazil, plus discoveries in Namibia and Angola through Azule Energy, its 50-50 joint venture with Eni. bp plans to grow its global upstream production to 2.3-2.5 million barrels of oil equivalent a day in 2030, with the capacity to increase production out to 2035. Ankündigung • Jul 24
BP’s Castrol Unit Reportedly Gets One Rock Bid as Most Suitors Drop One Rock Capital Partners, LLC, a US mid-market private equity firm, is one of the few remaining bidders for BP p.l.c. (LSE:BP.)’s Castrol lubricants business, people familiar with the matter said, illustrating the potential challenges for the key asset disposal by the oil major. Several big-name energy companies and financial suitors have dropped out and valuation expectations have slipped, according to the people, who asked not to be identified as the information is private. One Rock is bidding for the entire asset, while Canada Pension Plan Investment Board is only interested in taking a minority stake, the people said. Ankündigung • Jul 21
Bp P.L.C. Announces Board Changes BP p.l.c. announced that it has appointed Albert Manifold to succeed Helge Lund as chair of the company. He will join the company's board on 1 September as non-executive director and chair-elect, and will take over as chair on 1 October. At that point, Helge Lund will step down as chair and as a director of the bp board. Albert was the Chief Executive Officer of CRH plc from January 2014 until December 2024.Under his leadership CRH strategically reshaped its portfolio and delivered superior growth and performance. He has a strong track record of strategic leadership and operational delivery with a focus on cost efficiency, disciplined capital allocation and cash flow generation. He is also a non-executive director at LyondellBasell, a global chemicals producer, listed on the New York Stock Exchange, and a non-executive director at Mercury Engineering, a leading privately-owned engineering consultancy. Albert is a Certified Public Accountant, a Chartered Accountant, and holds a Master of Business Administration and a Master in Business Studies, both from Dublin City University. He remains a special adviser to the board of CRH and is also an adviser at Clayton Dubilier & Rice. Ankündigung • Jul 18
Clearlight Energy agreed to acquire BP Wind Energy North America Inc. from BP p.l.c. (LSE:BP.). Clearlight Energy agreed to acquire BP Wind Energy North America Inc. from BP p.l.c. (LSE:BP.) on July 18, 2025. After close, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, increasing its operating fleet to ~4.3GW.
The deal is expected to conclude by the end of the year and follows a competitive bidding process, subject to regulatory approvals.
Greenberg Traurig, LLP acted as legal advisor for LS Power Development, LLC. Barclays Capital Inc. and Santander US Capital Markets LLC acted as financial advisor for LS Power Development, LLC. Ankündigung • Jul 11
Bp P.L.C. Updates Production Guidance for the Second Quarter of 2025 BP p.l.c. updated production guidance for the second quarter of 2025. The company reported upstream production in the second quarter is now expected to be higher compared to the prior quarter, with production higher in oil production & operations, primarily in bpx energy, and slightly higher in gas & low carbon energy. In the gas & low carbon energy segment, realizations, compared to the prior quarter, are expected to have an impact in the range of $(0.1) to (0.3) billion, including changes in non-Henry Hub natural gas marker prices. The gas marketing and trading result is expected to be average. In the oil production & operations segment, realizations, compared to the prior quarter, are expected to have an impact in the range of $(0.6) to (0.8) billion, including the production mix effects and the price lags on bp's production in the Gulf of America and the UAE. Ankündigung • Jul 07
Bp plc Announces Board Changes BP PLC announced the appointment of Simon Henry as a non-executive director to its board, effective September 1, 2025. Simon Henry brings extensive expertise in global finance, strategy, governance, and management, acquired over a 35-year career with Shell, where he held senior finance and management roles internationally and served as chief financial officer and a board member from 2009 to 2017. Simon is currently a non-executive director of Rio Tinto plc and Rio Tinto Limited, with plans to step down from these roles in the second half of 2025. Harbour Energy plc announced earlier that Simon will step down from its board with immediate effect. Within the past five years, Simon resigned as a director from Lloyds Banking Group plc and PetroChina Ltd, in September 2020 and May 2022 respectively. BP also announced that Pamela Daley, a non-executive director, will step down from the BP board for personal reasons, effective July 7, 2025. Ankündigung • Jul 02
Bp P.L.C. Announces Regional President Changes for Azerbaijan, Georgia and Türkiye, Effect from 1 October 2025 BP p.l.c. announced the appointment of Giovanni Cristofoli as the new regional president for Azerbaijan, Georgia and Türkiye (AGT), with effect from 1 October 2025. Gio will be based in Baku, Azerbaijan, Trend reports. Gio is currently bp senior vice president, solutions, leading a global organization that provides services and solutions to bp's upstream, refining, low carbon energy and non-operated joint venture businesses. Under Gio's leadership, bp has transformed the way it delivers maintenance, reliability, subsea services and more. Gio will succeed Gary Jones, who has successfully led bp's regional business since April 2017. Gary's new role will be the subject of a future announcement. Ankündigung • Jun 11
Adnoc Reportedly Evaluates Possibility of Buying Some BP Assets Abu Dhabi’s main oil company Abu Dhabi National Oil Company (Adnoc) is evaluating whether it can buy some of BP p.l.c. (LSE:BP.)'s key assets should the embattled British firm decide to break itself up or come under pressure to divest more units, according to people with knowledge of the matter. Abu Dhabi National Oil Co. has been internally studying the prospects for acquiring some BP assets and has held initial consultations with bankers, the people said, asking not to be identified because the discussions are private. It is also considering partnering with another bidder to split some of the assets, they said. Recent Insider Transactions • May 30
CEO & Director recently sold UK£1.2m worth of stock On the 27th of May, Murray Auchincloss sold around 337k shares on-market at roughly UK£3.59 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Murray's only on-market trade for the last 12 months. Ankündigung • May 05
Shell Reportedly Evaluates Potential Acquisition of BP Shell plc (LSE:SHEL) is working with advisers to evaluate a potential acquisition of BP p.l.c. (LSE:BP.), though it’s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter. The oil major has been more seriously discussing the feasibility and merits of a BP takeover with its advisers in recent weeks, the people said, asking not be identified because the information is private. Any final decision will likely depend on whether BP stock continues to slide, the people said. Shares of BP have already lost nearly a third of their value in the last 12 months as a turnaround plan has fallen flat with investors and oil prices tumbled. Shell may also wait for BP to reach out or for another suitor to make a first move, and its current work could help it get prepared for such a scenario, some of the people said. Deliberations are in the early stages and Shell may opt to focus on share buybacks and bolt-on acquisitions rather than a megamerger, they said. Other large energy companies have also been analyzing whether they would want to bid for BP, the people said. “As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification,” a spokesperson for Shell said in an emailed statement. A representative for BP declined to comment. A successful combination of Shell and BP would be one of the oil industry’s largest-ever takeovers, bringing together the iconic British majors in a deal that’s been discussed on and off for decades. The companies were once close rivals — with a similar size, reach and global clout — but their paths have diverged in recent years. Investors are growing impatient. Activist firm Elliott Investment Management has gone public with a 5% holding in BP and is calling on the company to consider more transformative measures. Elliott views BP’s plan as lacking ambition and urgency, and believes it could potentially expose the company to a takeover, Bloomberg News reported in April. Under CEO Wael Sawan, Shell has also been cutting costs, shedding poorly performing renewables units and refocusing on fossil fuels. While Shell’s stock has outpaced that of Chevron Corp. and Exxon Mobil Corp. in recent years, the company’s valuation has yet to match those of its big oil rivals in the US. Sawan told analysts Friday that Shell will “of course” keep looking at inorganic opportunities but will be prudent and “the bar is high.” Any deal would need to add to free cash flow per share in a relatively short period, he said. “I have said in the past that we want to be value hunters. Today, value hunting – in my view – is buying back more Shell” stock, Sawan said on the conference call. He added that “we have to have our own house in order” before looking at sizable acquisitions, and that the company has “more work to do” to reach its full potential despite the progress it’s made over the past couple years. Shell is doing deals where it has the capability to create value, such as with its purchase of liquefied natural gas trader Pavilion Energy Pte, Sawan said. A successful takeover of BP could bolster Shell’s output growth by allowing the company to regain exposure to the US, after it sold its Permian Basin shale assets to ConocoPhillips in 2021. Any transaction would likely dwarf Shell’s 2016 acquisition of BG Group, a deal that was valued at close to $50 billion. Board Change • May 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Ian Tyler was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 
