BP p.l.c. (BP) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everybody to BP's fourth quarter and full year results call. We'll be focusing today's call on the fourth quarter and 2024 performance and the contents of the video that I hope many of you will have seen by now. I also understand there is significant interest in our capital markets update in a couple of weeks time. However, I'm sure you'll also appreciate that we can't comment on any issues relating to that today. So please focus your questions accordingly. With that, let me hand over to Murray. Thanks, Greg. Thanks everyone for joining Kate and I on the call today. When I look back at 2024, we've achieved a lot. We've made significant strategic progress, taking decisive action and reshaping our portfolio and laying the foundations for growth, including 10 new FIDs, including Cascada and Tangoo, new access in Iraq and India, divesting tail assets in Trinidad, exiting the Empire wind in the US offshore, decapitalizing our offshore wind business by agreeing to form a joint venture Jarenx BP, focusing our EV charging business and our hydrogen pipeline, acquiring full ownership of BP bioenergy and light source BP, and recently announcing our intention to sell the Gelsenkirchen refinery. In two weeks time, we will build on the actions taken in the last 12 months and provide a comprehensive update at our capital markets event. It will be a fundamental reset of our strategy. It will demonstrate our focus on actions to drive performance, and it will enable us to grow cash flow and returns and shareholder value. With that said, let me focus on today and briefly recap our highlights for this year. Many of our businesses performed well during 2024. Upstream production was around 2.36 million barrels per day, up 2% this year, with plant reliability above 95%. It was a go...