BP PLC (LSE:BP.) will report third-quarter results tomorrow a week after rival Shell unveiled softer but still massive profits and shareholder returns.
BP's half-year results in August were a bumper set, but investors and analysts will be expecting a drop off after oil prices fell roughly a quarter since June - though general shareholder returns are still expected.
At the halfway stage shareholder dividends were up 10% to 11.46 US cents per share and the company also launched a new US$3.5bn programme of share buy-backs - as well as estimating it will pay US$800mln by the end of 2025 towards the UK’s windfall tax.
As well as shareholder distributions, the oil giant has been investing heavily in growth, including its US$3.3bn acquisition of US bioenergy company Archaea, which specialises in biogas, a by-product of landfill and farming.
Hargreaves Lansdown analyst Derren Nathan said: “Investors will see if BP pauses for breath,” also highlighting the company's refocus on more sustainable energy sources. “When it comes to renewables BP is really putting the pedal to the metal.”