Financial Performance - BP's underlying replacement cost profit for 2Q25 was $24 billion[21,32] - Operating cash flow for 2Q25 reached $63 billion, including a $14 billion working capital build[21] - The company announced a 4% increase in dividend per ordinary share to 8320 cents for 2Q25[21] - A share buyback of $750 million for 2Q25 was announced[21] Strategic Progress - Upstream production was approximately 23 million barrels of oil equivalent per day (mmboed) in 1H25[20] - BP delivered $1 billion of structural cost reductions[25] - Refining availability exceeded 96% in both 1H25 and 2Q25[20,88] Targets and Guidance - BP aims for adjusted free cash flow growth of over 20% CAGR from 2024 to 2027[64] - The company targets net debt between $14-18 billion by the end of 2027[37,64] - BP is targeting $4-5 billion in structural cost reductions by the end of 2027[41,64] - The company expects capital expenditure to be approximately $145 billion in 2025[37,59]