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Resilient operations supported delivery of an underlying profit of $2.3bn and a further $1.75bn share buyback announcement as bp continues to drive focus and efficiencies into the business
We have made significant progress since we laid out our six priorities earlier this year to make bp simpler, more focused and higher value. In oil and gas, we see the potential to grow through the decade with a focus on value over volume. We also have a deep belief in the opportunity afforded by the energy transition – we have established a number of leading positions and will continue high-grading our investments to ensure they compete with the rest of our business. I am absolutely clear that the actions we are taking will grow the value of bp."Murray Auchincloss,chief executive officer
bp hosted an Investor update in Denver and Field trip to bpx’s Permian operations on 10-11 October 2023, focused on its oil and gas business, as well as its biogas business
We believe bp has a compelling investor proposition – one that will drive growing long-term shareholder value – and to do this we are focused on transforming from an International Oil Company (IOC) to an Integrated Energy Company (IEC) while remaining committed to performing as we transform. And we believe we can generate attractive returns in doing so.