On August 3, BP PLC fell 3.07% in pre-market trading, trading at $43.98/share, with turnover of $123,700.

On the news front, BP is advancing a series of major asset disposals while the broader energy sector faces selling pressure. The company formally launched the sale process for its North Sea oil and gas business on July 31, with an estimated transaction value of approximately GBP 2 billion. CEO Meg O'Neill stated the assets would be \"better positioned as part of another company.\" Additionally, BP completed the sale of its Gelsenkirchen refinery in Germany to Klesch Group, expected to reduce underlying operating expenses by about $1 billion. The company also announced approximately 700 non-frontline job cuts, representing 8% of such roles, as part of its target to raise $20 billion by end of 2027 to reduce debt.

Within the Integrated Oil & Gas sector, broad weakness compounded pressure on BP PLC. Among peers, Exxon Mobil fell 2.6%, Occidental fell 3.05%, Suncor fell 1.93%, Chevron fell 1.7%, and Shell fell 1.48%. BP is scheduled to report Q2 earnings on August 4, with consensus EPS expected at $1.98.

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