BP PLC

BP PLC (LSE: BP.) is an FTSE 100-listed multinational oil and gas company with a global energy business spread across Australasia, Asia, Africa, Europe, North and South America.

Q4 FY24 Results (Released on 11 February 2025)

1. Decline in Underlying Replacement Cost (RC): Profit BP’s underlying RC profit for 2024 was $8.9 billion, a significant drop from $13.8 billion in 2023. This decline was primarily driven by lower refining margins, weaker gas marketing and trading performance, and lower oil trading contributions.

2. Lower Operating Cash Flow: BP reported $27.3 billion in operating cash flow for 2024, down from $32.0 billion in 2023. The reduction was influenced by weaker refining margins, lower realized prices, and higher tax payments.

3. Capital Expenditure and Divestments: BP maintained capital expenditure at $16.2 billion, slightly lower than $16.3 billion in 2023. The company also generated $4.2 billion in divestment and other proceeds, more than doubling the $1.8 billion from 2023, reflecting its portfolio restructuring strategy.

4. Increased Net Debt: BP’s net debt rose to $23.0 billion by the end of 2024, up from $20.9 billion in 2023. The increase was mainly due to debt-financed acquisitions, including the Lightsource BP transaction, and the issuance of hybrid bonds.

5. Shareholder Returns and Financial Resilience: Despite weaker earnings, BP maintained shareholder distributions, with $7 billion in share buybacks and a 10% increase in dividends per ordinary share to 8 cents per share. The company aims to strengthen its balance sheet and improve financial metrics in 2025.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

BP PLC (LSE: BP.) was trading at the current market price of GBX 455.47 (as of 12 February 2025, 09:45 AM GMT) 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 12 February 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.