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flag BP raises 2025 oil/gas output forecasts, cuts jobs, shifts from renewables to fossil fuels.

flag BP expects higher upstream oil and gas production in Q3 2025, reversing earlier guidance, driven by stronger output in oil, gas, and low-carbon energy, supported by rising Brent crude prices. flag However, oil trading performance is projected to be weak, while gas trading is expected to be average. flag Net debt remains stable at around $26 billion. flag The company continues a major cost-cutting initiative, including thousands of job cuts, as part of a strategic shift toward expanded fossil fuel extraction and reduced renewable energy investment, under a new three-year plan focused on improving returns for investors.

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