BP p.l.c. Q1 2026 Results

BP p.l.c. reported strong operational and financial performance in the first quarter of 2026. Underlying replacement cost (RC) profit was $3.2 billion, a significant increase from the previous quarter, driven by strong upstream and downstream operations, as well as exceptional oil trading contribution. The company saw improved plant reliability and refining availability. Operating cash flow was $2.9 billion, though net debt increased to $25.3 billion. BP made strategic progress, including the announced sale of its Gelsenkirchen refinery and plans to reduce hybrid bond financing. The company reiterated its 2026 guidance for capital expenditure and divestment proceeds, while also providing a positive outlook for its various business segments.