- Upstream production is expected to increase, with higher gas output in bpx energy.
- Asset impairments are anticipated between $0.2 to $0.5 billion.
- Net debt remains around $26 billion, despite bond redemption and higher taxes.
- Brent averaged $69.13/bbl, and Henry Hub averaged $3.07/mmBtu in Q3 2025.
Production and Performance
BP anticipates higher upstream production in Q3 2025, driven by increased gas output in bpx energy and improvements in gas and low carbon energy sectors. Oil production and operations are expected to see flat realizations compared to the previous quarter.
Financial Adjustments
Asset impairments are projected to range from $0.2 to $0.5 billion, affecting various segments. These adjustments will be excluded from the underlying replacement cost profit.
Debt and Financial Position
Net debt is expected to remain stable at approximately $26 billion, despite the planned redemption of $1.2 billion in perpetual hybrid bonds and higher income tax payments of around $1 billion.
Market Indicators
Brent crude averaged $69.13 per barrel, while the US gas Henry Hub index averaged $3.07 per mmBtu in Q3 2025. The BP RIM averaged $15.8 per barrel, reflecting market conditions during the period.
