# BP accelerates overhaul with higher asset sale target as profits beat forecasts

By Dan Coatsworth — 2025-11-04

Dan Coatsworth, head of markets at AJ Bell, said: “In a timely boost for embattled BP CEO Murray Auchincloss, BP has posted better than anticipated quarterly figures.

“Auchincloss’ strategy of pivoting back to a focus on oil and gas has received criticism from some investors who saw long-term logic in a shift towards greener forms of energy and others who do not believe he is going far or fast enough.

“Even new chair Albert Manifold has said execution on this strategy needs to be quicker.

“Investors will hope he can draw on his experience at Irish building materials firm CRH, where he oversaw a substantial increase in the share price and helped lead a shift in its main stock listing to New York.

“A $750 million buyback provides some reward for BP investors’ patience as management look to turn around a super tanker of a business.

“Encouragement will be taken from the fact BP expects its full-year proceeds from divested assets to be higher than previous guidance.

“This is crucial to BP’s ambition to bring borrowings under control. One thing BP has limited control over is the oil price which was sharply lower in the three months to September 30 compared with the same period a year ago.

“There may be some relief then at the recent decision by producers’ cartel Opec+ to pause increases in output at the start of next year.”

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