0838 GMT - BP could shoot through its debt-reduction target a year early, thanks to rapid progress in the second half, RBC Capital Markets' Biraj Borkhataria and Adnan Dhanani say in a research note. The U.K. energy major estimates it ended the second quarter with net debt ranging from $22 billion to $23 billion, which compares with $25.3 billion as of March 31. BP is targeting net debt of between $14 billion and $18 billion by the end of 2027, but RBC estimates the company could reduce its net debt to around $8 billion by year-end. "This should coincide with BP presenting a refined corporate plan and medium-term outlook, in our view," the analysts add. Shares rise 2.6%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 14, 2026 04:38 ET (08:38 GMT)

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