BP logo sits on a totem sign at fuel station in Cambridge, U.K. (Photo: Jason Alden/Bloomberg)
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After a good few years of disappointment languishing in the shadows of Big Oil rivals, executive departures, costly renewables forays, rumors of a takeover and an activist investor on its back, BP (LON: BP) has finally signalled to the market and its investors that meaningful change might be on the horizon.
On Tuesday, the energy major revealed better-than-expected results for the second quarter of 2025, with an adjusted net income of $2.4 billion, down 14% year-on-year, but well above market forecasts in the $1.7-$1.9 billion range.
The announcement of an improved performance came a day after BP claimed it had made its largest oil and gas discovery in 25 years in the Santos basin, 400 km off Brazil’s east coast. It was also accompanied by a pledge from CEO Murray Auchincloss that his company “can and will…
