BP to increase FY26 exploration spend 50% YoY, on track for ~300Kb/d Venezuela output by year end

BP says it will increase FY26 exploration spend 50% year-over-year relative to 2025, and is on track to reach around 300Kb/d of Venezuela output by year end. Q3 production was lower YoY due to lower entitlements from higher prices and Middle East conflict impacts; Q4 capex will increase but the year will still end at the low end of FY26 guidance.

Detected & updated continuously · Source: Nebula