BP Q3 Profit Beats Forecast; Plans More Divestments, Buyback

BP reported underlying replacement cost profit of $2.21 billion for the quarter to September 30, down 3% year on year and 6% from Q2, but above the $2.02 billion forecast. It plans further portfolio simplification and cost reductions, targets over $4 billion of 2025 divestment proceeds, expects around $5 billion of 2024 asset sales, and will buy back $750 million.