Question · Q3 2025
Makeley asked about BP's flexibility within its $13 billion-$15 billion CapEx budget for 2026-2027, specifically inquiring about the levers available to lower the budget towards the low end of the range from the current $14.5 billion.
Answer
Kate Thomson (CFO, BP) confirmed ample flexibility within the CapEx range, noting that the current year's organic CapEx is already below $14 billion. She identified slowing onshore drilling and adjusting exploration as key levers for reduction, emphasizing BP's commitment to tight capital discipline and value-driven investment decisions.