{"id":19379,"date":"2026-10-30T08:12:58","date_gmt":"2026-10-30T08:12:58","guid":{"rendered":"https:\/\/stock999.top\/?p=19379"},"modified":"2026-10-30T08:12:58","modified_gmt":"2026-10-30T08:12:58","slug":"bp-posts-record-profit-and-cuts-heavy-debt-burden-daily-business","status":"publish","type":"post","link":"https:\/\/stock999.top\/?p=19379","title":{"rendered":"BP posts record profit and cuts heavy debt burden \u2013 Daily Business"},"content":{"rendered":"<p>            <\/p>\n<p>BP has benefited from soaring oil prices (pic: DB Media Services)<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Energy giant BP saw profits \u00a0profits surge to a record last quarter as the Middle East conflict drove oil prices higher. <\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Underlying replacment cost profit rose almost fourfold over last year year to $8.46bn, well ahead of the $7.33bn forecast by analysts and $2.2 billion \u200ba year ago.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">It helped the company cut its debt by more than $10bn, or 45% in the past six months.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Chief executive Meg O\u2019Neill, who took over in April and made tackling debt a priority, said: \u201cWe have now delivered our net debt \u200cand structural cost reductions targets and have line of sight on the \u200cremaining two of the four primary financial targets we set ourselves for 2027.\u201d<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">However, she also adopted a cautious tone, acknowledging that oil prices would eventually come down.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">\u201cWe continue to be more levered than our peers. We need to be competitive in all environments,\u201d she said.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Ms O\u2019Neill has begun remodelling BP into two divisions, one focused on oil and gas production and the other on refining and sales. She has put BP\u2019s oil and gas fields in the UK\u2019s North Sea and its $4bn biogas business in the US up for sale. \u00a0<\/p>\n<p class=\"wp-block-paragraph\">Daily Business Bulletin:\u00a0Subscribe here for our free morning bulletin of breaking news<\/p>\n<p>           \t            #posts #record #profit #cuts #heavy #debt #burden #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BP has benefited from soaring oil prices (pic: DB Media Services) Energy giant BP saw&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[3868,2443,272,842,306,1555,9772,18657,1735,2117,847],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/19379"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19379"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/19379\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}