0939 GMT - BP doesn't intend to deploy large amounts of capital expenditure on more upstream projects, RBC Capital Markets analysts write after speaking to finance chief Kate Thomson. This is despite BP's considerable exploration success this year, of which Bumerangue in Brazil is the most significant, they say. The decision to not deploy significant capital on its growing set of exploration options seems to be part of the latest strategic review being conducted by the energy major's incoming chair, the analysts write. Its discovery in Brazil, as well as some of its Gulf of Mexico assets, are fully owned by BP and offer the opportunity to sell interests in the discoveries, they add. Shares trade up 0.9% at 432.95 pence. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

August 29, 2025 05:39 ET (09:39 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.