BP Reports Significant Profit Drop in Q1 2025

In a startling financial revelation, BP plc announced a 69% plunge in its first-quarter profits for 2025, dropping to $687 million from $2.263 billion the previous year. This downturn is attributed to several factors including lower operating cash flow, disappointing gas marketing and trading results, and reduced refining margins.

Financial Highlights and Strategic Moves

The company's operating cash flow stood at $2.8 billion, with an adjusted EBITDA of $8.7 billion, marking a 15.6% decrease from the previous year's $10.3 billion. Despite these challenges, BP has decided to increase its dividend per ordinary share by 10% to 8 cents, signaling confidence in its long-term strategy.

CEO's Optimistic Outlook

"This year has already seen the startup of three major projects, six exploration discoveries, and progress in our divestment program. Our operational performance remains strong, with over 95% upstream plant reliability and more than 96% refining availability," stated CEO Murray Auchincloss, highlighting the company's resilience and efficiency.