Core Insights - BP plc (BP) shares have increased by 22.5% over the past year, outperforming the Oils-Energy sector, which declined by 1.3%, and the S&P 500 Index, which rose by 14.7% during the same period [1][6] - The company's performance is attributed to new upstream projects, significant discoveries, and advancements in its divestment strategy [6] Upstream Growth - BP has initiated six new oil and gas projects this year, expected to add a combined net peak production of 150,000 barrels of oil equivalent per day [3] - Key projects include Cypre and Mento in Trinidad and Tobago, Raven Infills in Egypt, Greater Torque Ahmeyim in Mauritania and Senegal, Murlach in the U.K., and Argos Southwest Extension in the Gulf of America [3] - The company has made 12 exploration discoveries this year, including a major hydrocarbon discovery at the Bumerangue block in Brazil, described as the largest discovery in 25 years [3] Divestment Program - BP is progressing towards its $20 billion divestment target, expected to be completed by the end of 2027 [4] - Recently, BP sold non-controlling interests in its Permian and Eagle Ford pipelines for $1.5 billion and noted strong interest in other assets [4] - The company anticipates divestment proceeds to exceed $4 billion this year, supported by completed and announced asset sales worth approximately $5 billion [4] Free Cash Flow Generation - BP is on track to achieve a compound annual growth rate of approximately 20% in adjusted free cash flow between 2025 and 2027 [7] - This growth is supported by disciplined capital allocation and robust upstream operations, providing resilience against market volatility [7]