The first F1® race of the season is fast approaching and we can’t wait. The Audi Revolut F1® Team will be on the grid and bp is the official technology partner. In this issue you’ll get an inside look at our partnership. Plus, get the standout facts and figures from our fourth quarter and full year 2025 results, and watch our new video on how we're using technology and experience to deliver our upstream strategy.
The 2026 season starts the weekend of 6 March and bp is the official technology partner of the Audi Revolut F1® Team. Our fuel technologists and the Audi Revolut F1® Team worked hand-in-hand developing the fuel and power unit, as our specialist lubricants business Castrol developed the fluids.
Formula 1® is an extreme environment for fuel – high speeds, temperatures, pressure, and more. Racing fuel – unlike everyday fuel at the forecourt – is designed with those parameters in mind.
"With bp, we have a great collaboration. It's a perfect fit. I don't even say it's a partnership – it's one team working to get the best engine performance," says Mattia Binotto, Head of the Audi F1® Project.
bp has co-developed bp Ultimate Racing, a bespoke fuel, to meet the Formula 1® racing body’s new technical regulations. Over 400 pilot fuels were developed and more than 200 blends tested at the team’s lab, with bp technologists working side-by-side with the group developing the power unit.
Explore how we’re gearing up for the season’s first race .
2025 was a strong year of strategic progress, positioning bp for long-term value growth.
In our oil and gas business, we started up seven of the 10 major projects we expect between 2025 and 2027, adding around 150,000 barrels of oil equivalent per day of net peak production.
Meanwhile, our customers business delivered its highest underlying earnings since 2019. We also expect to generate $6 billion in net proceeds for bp from the agreed divestment of a 65% shareholding in Castrol. The money will be used to reduce net debt, strengthening bp’s balance sheet.
Other highlights from our results included:
Record full year performance of more than 96% for both plant reliability and refining availability Production of 2.3 million barrels a day of oil and gas 12 exploration discoveries – including Bumerangue, bp’s largest find in 25 years Reserves replacement ratio increased to 90%
Take a look at more from our 4Q and full year 2025 results in this Energy in focus article .
The Greater Burgan oil field in Kuwait is the world’s second largest, supplying about half of the country’s total production – around 1.5 million barrels a day.
bp’s commitment to Kuwait dates back to our participation in the discovery of the Greater Burgan oil field in the 1930s, and we’ve just deepened the partnership through the extension of our Enhanced Technical Service Agreement (ETSA) with the Kuwait Oil Company (KOC).
The ETSA enables bp to support KOC teams with enhanced oil recovery through 50 secondment opportunities of bp’s technical experts.
The agreement is an example of our partnerships in the Middle East, including in Iraq, Oman, and Abu Dhabi, underlining the value governments place on technical capability in managing complex, largescale projects.
It reinforces the confidence countries have in bp’s ability to support those countries in delivering their national energy ambitions. And it reflects the trust built over decades of working to safely deliver reliable and secure energy.
Learn more about the agreement in this LinkedIn post by William Lin, bp’s EVP gas and low carbon energy .
Video: Energy that matters
With energy demand on the rise, we’re drawing on the latest technologies, deep engineering expertise and more than a century of experience as we work to safely increase production.
Watch the video above to learn more about how we’re delivering our upstream strategy.
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