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How Energy Giants Performed in Q1 2025: A Breakdown of Equinor, BP, Hess, and NOG

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Production and Operations Performance Oil and gas output was resilient, underpinned by high asset reliability. BP achieved upstream plant reliability of 95.4%, one of its best on record, and refining availability at 96.2%. BP reported Adjusted EBITDA of $8.7 billion, down from $10.3 billion in Q1 2024, but slightly up from $8.4