BP(US:BP) 智通财经网·2025-11-04 08:57Core Insights - BP reported third-quarter adjusted net profit of $2.21 billion, exceeding analyst expectations of $2.02 billion but down from $2.27 billion year-on-year [1] - The company's refining profit margins increased, contributing to a significant rise in EBIT for the customer and products segment, which reached $1.61 billion, surpassing analyst expectations of $1.59 billion and significantly higher than $381 million in the same quarter last year [1] - BP's operating cash flow for the third quarter was $7.8 billion, up from $6.8 billion year-on-year, with net debt remaining stable at approximately $26 billion [1] Financial Performance - The third-quarter adjusted net profit was $2.21 billion, lower than the previous year's $2.27 billion [1] - EBIT for the customer and products segment was $1.61 billion, compared to $381 million in the same quarter last year [1] - Operating cash flow increased to $7.8 billion from $6.8 billion year-on-year [1] Strategic Initiatives - BP's CEO stated that all business segments performed well, and the company is focused on accelerating plans, including a comprehensive assessment of its asset portfolio to simplify operations and improve cost performance [2] - The company expects to complete or announce asset sales totaling approximately $5 billion this year [2] - BP is undergoing a strategic shift by significantly reducing renewable energy spending and refocusing on traditional oil and gas operations to regain investor confidence [3] Asset Management - BP announced an agreement to sell minority stakes in certain onshore pipeline assets in the U.S. for $1.5 billion, part of a broader $20 billion asset divestment plan [4] - The company aims to complete $20 billion in asset divestitures by the end of 2027 [4]