Michele Della Vigna's questions to BP PLC (BP) leadership • Q4 2024
Question
Michele Della Vigna of Goldman Sachs Group, Inc. asked if the larger-than-expected net interest cost and minorities in the quarter represented a new run rate or were influenced by one-offs.
Answer
CFO Katherine Thomson attributed higher net interest to increased gross debt from opportunistic issuance and the change in minorities to hybrid bond movements. CEO Murray Auchincloss added that both items would be expected to reverse over time as debt and hybrids are paid down.