1Q results 2021: delivering today, transforming for tomorrow
Release date:
27
April
2021
“This quarter demonstrates what we mean by performing while transforming. With the acceleration of divestment proceeds, together with strong business performance and the recovery in price environment, we generated strong cash flow and delivered on our net debt target around a year early. We are commencing share buybacks in the second quarter, which, alongside our resilient dividend, supports the growth in distributions to shareholders. And, at the same time, we’ve delivered disciplined strategic progress right across bp.”
Bernard Looney, chief executive officer
“Delivering big milestones like Raven, Argos and our exciting discovery at Puma West demonstrates our focus on resilient oil and gas, in support of our strategy. And our operations had a strong end to the quarter, with production on plan, improved reliability in our upstream assets, and improved availability in our refineries.”
Gordon Birrell, EVP of production & operations
“We performed strongly despite the ongoing COVID challenges. Convenience and mobility showed strong resilience – convenience gross margin was more than 10% higher than the same period last year, and Castrol delivered a very strong performance. We also accelerated our work to create a fast, convenient and reliable EV charging network by joining forces with Daimler and BMW in DCS, a leading developer of digital charging software.”
Emma Delaney, EVP of customers & products
Watch this film to find out what our Digital Charging Solutions partnership means for EV drivers across Europe
“This quarter saw exceptionally strong delivery and cash contribution from across the teams, despite COVID continuing to affect our people and some operations. We are seeing clear momentum and demonstrating our strategy in action.”
Dev Sanyal, EVP of gas & low carbon energy
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