BP is set to hit its $35 billion net debt target within the first three months of the year as the UK supermajor rakes in asset disposal proceeds earlier than expected.

“We are pleased to announce that we now expect to have reached our $35 billion net debt target during the first quarter 2021,” chief executive Bernard Looney said on Tuesday.

“This is a result of earlier than anticipated delivery of disposal proceeds combined with very strong business performance during the first quarter.