BP Beats Profit Estimates in Q3 2025, Driven by Higher Oil and Gas Output

SEATTLE (Oil Monster): British energy major BP plc reported stronger-than-expected profits for the third quarter of 2025, as higher crude oil and natural gas production helped offset softer prices and refinery downtime.

The company posted an underlying replacement cost (RC) profit of $2.2 billion, surpassing market expectations of around $2.03 billion. Though slightly below the $2.4 billion reported in the previous quarter, the result reflects solid operational performance across BP’s upstream and refining businesses.

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According to BP, the quarter-on-quarter improvement in underlying RC profit before interest and tax was mainly driven by reduced refinery turnaround activity, stronger refining margins, and increased production volumes. For comparison, BP recorded a net profit of $2.3 billion in Q3 2024 and $2.35 billion in Q2 2025.

Operating cash flow for the quarter climbed to $7.8 billion, up sharply from $6.3 billion in the prior quarter, underscoring robust cash generation. Meanwhile, BP’s net debt stood at $26.05 billion at the end of September, remaining largely unchanged from the previous quarter.

In line with its commitment to shareholder returns, the company also announced a new $750 million share buyback program to be executed over the next three months. BP added that proceeds from divestments and other transactions are expected to exceed $4 billion for the year.

Commenting on the results, Murray Auchincloss, BP’s Chief Executive Officer, said the company delivered another strong quarter of operational and financial performance, highlighting continued discipline and resilience across its global portfolio.