BP slashes buybacks as cash flow tumbles
April 29, 2025
(Oil Price) – BP (NYSE: BP) is reducing by $1 billion its quarterly share buyback program after reporting weaker-than-expected earnings, significantly lower cash flow, and rising net debt for the first quarter. The UK-based supermajor, which has been under intense pressure from activist investor Elliott to cut costs and boost share performance, reported today an underlying replacement cost (RC) profit – the closest metric to
