# BP halts share buybacks and ramps up cost-cutting as profits slump

By Simon Francis — 2026-02-10

Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “Despite city watchers saying that BP’s profits have fallen, the reality is that the firm is still generating billions of profit every quarter. This is just another reminder that energy giants continue to make billions while households face a fifth winter of hardship.

“These corporate windfalls do not occur by accident, they reflect a system where profits flow out to shareholders as millions live in cold, damp homes.

“Ministers must ensure the energy system is on the side of consumers, not the companies that have generated more than £125bn in UK profits since 2020.”

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