BP CEO Says Interest in North Sea Business In Strong

BP CEO Meg O'Neill discusses strong Q2 results, a $5.7bn underlying earnings beat, and the company's five-priority plan to get 'fit to grow'. She highlights asset sales including the North Sea business, which attracted strong buyer interest but was not competitive enough for BP’s portfolio. Growth projects in the Gulf of America, Brazil, Indonesia and Trinidad are expected to add production starting in 2028, while the trading and refining businesses continue to deliver resilient performance. - BP reports strong quarterly earnings with underlying profit of $5.7bn, $2.5bn above Q1. - Delivery of five strategic priorities focused on balance sheet, portfolio, capital discipline, operations and culture. - North Sea assets put up for sale due to insufficient returns and uncertain UK fiscal policy, but multiple buyers have expressed interest. - Significant growth projects underway in Gulf of America (production by 2029/30), Brazil, Indonesia, Trinidad, and potential in Venezuela. - Trading business has added a 4% uplift to group return on capital employed over the past six years. - Refining operations benefited from strong margins and ability to adjust runs to meet product demand like jet fuel. - CEO calls for long-term fiscal certainty from governments to support multi-decade investment decisions.