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BP updates Q3 2026 guidance, expects net debt to fall to $13.5-$14.5B and posts $3.0-$4.5B in impairments
BPBP PLC
BP p.l.c. issued its third quarter 2026 trading statement, updating full-year guidance and providing segment-level expectations for the period. The company expects upstream production to average 2,190 to 2,240mboe/d, driven by seasonal maintenance recovery offset by reduced equity interest in Latin America. Gas & low carbon energy realizations are projected to add $0.1 to $0.3 billion compared to the prior quarter, while oil production & operations realizations face a headwind of $(0.2) to $(0.4) billion. Refining margins are expected to be significantly stronger, contributing an additional $1.9 to $2.1 billion. Net debt is anticipated to decrease to between $13.5 and $14.5 billion by quarter-end, aided by the redemption of $1.0 billion in hybrid securities and working capital release. The results will include post-tax adjusting items for impairments ranging from $3.0 to $4.5 billion, primarily linked to transition businesses in the gas & low carbon energy segment. BP operates as an integrated oil and gas company with significant refining, marketing, and renewable energy operations.