Quarterly ResultAug 4, 2026, 06:46 AM
BP Q2 2026 Underlying RC Profit $5.7B; Dividend Up 4%
AI Summary
BP PLC reported a strong financial performance for Q2 2026 with underlying replacement cost profit reaching $5.7 billion, a $2.5 billion increase from the previous quarter, and operating cash flow of $10.9 billion. The company also reduced net debt to $22.3 billion and increased its dividend by 4% to 8.66 cents per ordinary share. Strategically, BP announced several divestments, including the sale of its Austrian retail business and Gelsenkirchen refinery, and plans to market its North Sea business and Archaea Energy, while the CEO outlined five priorities for performance improvement. Operational performance, however, saw a slight decline in upstream plant reliability and refining availability.
Key Highlights
- Underlying RC profit for Q2 2026 was $5.7 billion, up $2.5 billion from Q1 2026.
- Operating cash flow for Q2 2026 was $10.9 billion.
- Net debt reduced to $22.3 billion at the end of Q2 2026 from $25.3 billion in Q1 2026.
- Dividend per ordinary share for Q2 2026 increased by 4% to 8.66 cents.
- Agreed to sell Austrian retail business, completed sale of Gelsenkirchen refinery, and intends to sell North Sea business and Archaea Energy.
- Q3 2026 reported upstream production expected to be 2,100 to 2,250 mboe/d.
- 2026 capital expenditure now expected to be $13.5-14.0 billion.
- 2026 divestment and other proceeds now expected to be $8-9 billion, including $6 billion from Castrol transaction.
Price Impact
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