BP's Sharp Profit Decline in Q1 2025

BP plc announced a significant drop in its first-quarter profits for fiscal 2025, with figures plummeting by 69% to $687 million from $2.263 billion in the same period last year. This downturn was attributed to several factors including reduced operating cash flow, disappointing results from gas marketing and trading, and lower refining margins.

Financial Highlights and Operational Achievements

The company reported an operating cash flow of $2.8 billion and 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 increased its dividend per ordinary share by 10% to 8 cents, signaling confidence in its long-term strategy.

CEO Murray Auchincloss highlighted the company's operational successes, stating, "This year, we've launched three major projects, made six exploration discoveries, and advanced our divestment program. Our operational performance remains strong, with over 95% upstream plant reliability and more than 96% refining availability."