In the UK, BP presents its Q3/2022 results

In the United Kingdom, BP is reporting its results for the third quarter of 2022, noting a loss of $2.2 billion over that period.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

In the United Kingdom, BP is reporting its results for the third quarter of 2022, noting a loss of $2.2 billion over that period. However, the company is seeing a profit of $9.3 billion in the second quarter.

Good results

In the UK, however, BP sees an underlying benefit to the replacement cost of $8.2 billion. This indicator is stable compared to the previous quarter, which stood at $8.5 billion. The loss is mainly due to accounting adjustments.

This quarter’s result includes a charge for inventory adjustment items of $8.1 billion. A charge of $2.2 billion is also included for inventory holding losses. This charge includes accounting effects related to further increases in forward gas prices.

However, the company’s debt is decreasing and reaches $22 billion. On the other hand, BP continues to buy back $2.9 billion worth of shares in the third quarter. Finally, the firm also generates $3.5 billion in excess cash flow

Diversification strategy

During the presentation of its results in the United Kingdom, BP is also communicating on the diversification of its investments. First, the firm is accelerating its biogas strategy by acquiring Archaea Energy. BP is finalizing the creation of Azule Energy, a 50/50 joint venture with Eni.

In the convenience and mobility sector, the company announces that it wants to develop the charging of electric vehicles. For this, BP is considering a partnership with Hertz in North America. An agreement has been reached with REWE, the main supermarket chain in Germany, for the installation of fast charging stations.

Finally, in the field of low-carbon energy, BP is acquiring a 40.5% stake in the Australian company AREH. It operates one of the largest renewable energy and hydrogen centers. In addition, two BP-led projects focus on carbon capture, utilization and storage.

A new software developed by MIT enables energy system planners to assess future infrastructure requirements amid uncertainties linked to the energy transition and rising electricity demand.
Noble Corporation reported a net loss in the third quarter of 2025 while strengthening its order backlog to $7.0bn through several major contracts, amid a transitioning offshore market.
SLB, Halliburton and Baker Hughes invest in artificial intelligence infrastructure to offset declining drilling demand in North America.
The French energy group announced the early repayment of medium-term bank debt, made possible by strengthened net liquidity and the success of recent bond issuances.
Large load commitments in the PJM region now far exceed planned generation capacity, raising concerns about supply-demand balance and the stability of the US power grid.
The termination of a strategic contract with Dutch grid operator TenneT triggered the administration of Petrofac’s holding company, reigniting tensions with creditors.
Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Portugal’s Galp Energia reported an adjusted net profit of €407 million in Q3, driven by higher refining margins and strong contribution from liquefied natural gas.
Air Liquide signs agreement to acquire NovaAir, strengthening its presence in India’s industrial gas market by expanding its national footprint.
Voltalia's Q3 2025 revenue rises to €164.7mn, fuelled by a sharp increase in services activity, while energy sales decline due to currency effects and lower prices.
Altano Energy secured €81mn ($85.7mn) to construct two onshore wind farms and three photovoltaic plants in southern Spain, reinforcing its multi-technology generation strategy.
Baker Hughes recorded a 23% increase in orders in Q3 2025, driven by its gas segment, while net income fell 20% year-on-year to $609mn.
Colombian company Ecopetrol has secured authorisation to borrow COP700 000 million ($171mn) from Banco Davivienda to bolster its liquidity over a five-year period.
Eni's net profit rose to €803mn in the third quarter, supported by a 6% increase in production despite falling crude prices.
French group Vinci posted revenue growth in the third quarter, supported by all its divisions, and reaffirmed its ambitions for 2025 despite a more restrictive tax environment.
T1 Energy secured $72mn via a direct offering of over 22 million common shares, aiming to strengthen its cash position and fund energy technology and infrastructure projects.
The American university unveils a new institute focused on the future of energy, funded by a $50mn gift from Robert Zorich, managing partner of EnCap Investments, to support applied research and training of new experts.
Sintana Energy has initiated legal proceedings in the Isle of Man to secure approval for its all-share acquisition of Challenger Energy, with support from over one-third of the target company’s shareholders.
EDF has selected Intesa Sanpaolo and Lazard to explore strategic options for Edison, its Italian subsidiary, as part of a broader asset review under its new chief executive officer.
TotalEnergies has signed an agreement to sell its subsidiary GreenFlex to engineering group Oteis, marking a step in its strategy to concentrate on energy production and supply.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.