BP publishes third-quarter 2026 results call transcript
BP•BP said it would prioritize settling remaining Deepwater Horizon liabilities with excess cash flow and recorded a further $4 billion impairment, primarily covering transition businesses.
1. Key results and priorities
BP’s third-quarter 2026 results call featured CEO Meg O’Neill and CFO Kate Thomson. Management said excess cash flow would go toward settling remaining Deepwater Horizon liabilities in full, following an agreement accelerating Louisiana settlement payments, and reported a further $4 billion impairment primarily covering transition businesses, particularly Lightsource bp and offshore wind. Castrol’s sale was nearing completion, the UK North Sea disposal attracted competitive offers, and finding a buyer for Lightsource bp remained challenging. Management said materially higher buybacks remained contingent on further balance-sheet improvement and would outline its financial framework at the December 15 strategy update.
