Summary
BP's profits decreased to $7.5 billion in 2025 due to a drop in oil prices. The company decided to stop its share buyback program and focus on cutting costs while preparing for its new CEO, Meg O'Neill's arrival.
Key Facts
- BP's profits in 2025 were $7.5 billion, down from $8.9 billion in 2024.
- Oil prices fell by about 20%, affecting BP's profits.
- BP is suspending its share buyback program to save money.
- Meg O'Neill will become BP's new CEO in April.
- O'Neill will be the first woman to lead a major global oil company.
- BP has faced pressure from shareholders due to underperformance compared to rivals.
- The company previously announced a change in strategy, cutting investments in renewable energy to focus more on oil and gas.
