BP posted Q1 underlying replacement cost profit of $3.2 bn, beating the $2.67 bn consensus and more than doubling prior quarter and year‑ago figures.
Statutory profit rose to $3.8 bn, reversing a $3.4 bn loss in Q4, with operating cash flow $2.9 bn after a $6 bn working‑capital build.
Upstream output averaged 2.33 mboe/d with 95.7% plant reliability; capex fell to $3.3 bn and net debt rose to $25.3 bn.
BP kept its dividend at 8.32 cents, reaffirmed full‑year capex $13‑13.5 bn and expects $9‑10 bn divestment proceeds, including the Castrol sale.