BP Beps Beats on profits while selling oil, not coffee cups, and enjoy the former CEO

It is the second quarter since BP (No. 33 on Fortune Global 500) I started reset it The first time that the large oil giant has promising results. With approximately 30 %, a victory over its net profit in the second quarter of $ 1.63 billion, which was announced on August 5, the BP net increased by a loss on an annual basis of $ 129 million, which compared with the net general profit of BP for 2024 from only 381 million dollars.

Cathlein Brooks, Director of XTB Research, described the results as “an important teacher for the company as they return to profit.”

“BP is very interesting to tell the public about the number of coffee it sells every year and is now focusing on the amount of oil that it can extract,” Brooks said in a note.

Lony, who resigned in 2023, amid unannounced personal relationships with employees, would routinely raise that BP service stations sell more than 150 million cups of coffee annually. He said in 2020: “We may be known on Hight Street Street to sell it for fuel, but we also sell a lot of coffee,” he said in 2020.

The current CEO Murray Usinglos has not made such references to the drinks that are being made.

“We are still unabated in our goal in making improvements throughout BP,” Usinglos said in the profit call. “BP can work better for its investors.”

With the presence of a new Albert president who swings to the round on the first of October, Osinglos said he “begins another cost review” of her business portfolio with the incoming president.

BP, under the pressure of the active investor, also repeated the pressure of the investor, the investor, the goal of the investor, and the total costs and debts were reduced sharply, while increasing spending on oil, gas and production.

It is worth noting that a possible 8 billion dollar lubrication works, which will be made, will be able to.

BP stock increased by approximately 2.5 % in early trading on Tuesday. and The conversation is now dissipated to coincidence BP is likely to buy a BP competitor.

Best foot forward

RBC Biraj Borkhataria said in note that BP has returned to her “front foot” but is still in the “early stages of the transformation journey” as it focuses on improving debt reduction and free cash flow. More sales of assets and strong transformations are expected to see stronger towards oil and gas production.

BP said it had made $ 1.7 billion in structural costs, according to reaching or exceeding a goal between 4 billion dollars to $ 5 billion by the end of 2027.

In the world of crude oil, BP said it had achieved its largest discovery in this century, off the beaches of Brazil in the BUMERANGUE bloc, although the advertisement was short in the details.

BP called 10^Y The discovery of the year, including other successes in exploring oil and gas in Brazil, Treenidad, Egypt, Libya, Namibia, Angola and the American Gulf.

In the past, BP embraced energy transmission, and pledged more investment in renewable energy sources while ultimately reducing the oil and gas portfolio and achieving “zero zero”. But these goals came before the epidemic, then Russia invaded Ukraine, which led to high oil and gas prices and increased focus on global energy security. BP continued to delay behind her peers, now playing annex.

For example, BP is now selling wild wind wallets in the United States and stripping 50 % of the risks in global solar and marine wind companies.