BP Sees $1.5B Replacement Profit in Q425, Up 25% Y-o-Y

SECAUCUS, NJ (DTN) – BP reported on Tuesday (02/10) an underlying replacement cost profit of $1.5 billion for the fourth quarter, up 25% year-on-year, driven by higher product sales and steady gas prices despite weaker contributions from the realized price of crude.

• The average realized price for natural gas under production was $6.30 per thousand cubic feet in the fourth quarter of 2025, compared to $6.96 year-over-year,  while for liquids it was $62.72 bbl versus $68.93 in the same period. 

• Refining and trading operations reported $500 million in underlying replacement cost profit before interest and tax for customers and products in the fourth quarter of 2025, compared to a $302 million loss a year earlier.

• Oil production and operations  replacement cost profit before interest and tax was $2 billion in the fourth quarter of last year, down from $2.3 billion in the prior year, as weaker crude price realizations were only partially offset by higher production volumes and lower exploration write-offs.