0858 GMT - BP's net debt reduction is better than expected, J.P. Morgan's Matthew Lofting and Tianyu Wu write. This is due to higher one-off disposal proceeds, they say. BP said net debt at the end of the fourth quarter is expected to be between $22 billion to $23 billion compared to $26.1 billion at the end of the prior quarter. Within its downstream division, BP expects an around $100 million uplift in refining realizations, which is subdued against a strong sector backdrop, they say. Its weak oil trading performance is consistent with its historical performance in the quarter, the analysts add. BP's shares fall 1.1% to 431.85 pence.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
January 14, 2026 04:00 ET (09:00 GMT)
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