British oil major BP PLC reported better than expected fourth quarter earnings Tuesday with net profit of $4.8 billion, narrowly beating analyst expectations of $4.7 billion. The energy giant BP profit doubled in 2022 and announced a further $2.75 billion share buyback and boosted its dividend by 10% to 6.61 cents per ordinary share. BP’s record annual profits follow massive earnings from fellow energy giants Shell, Exxon Mobil and Chevron from soaring oil and natural gas prices. These prices have … Continue reading “BP Reduce Debt, Increase Buybacks and Dividends in Record Profit Year”
BP Posts Huge Natural Gas Trading Profit, to Increase US Oil and Gas Production
British oil major BP PLC reported better than expected third quarter earnings Tuesday. $BP net income was $8.2bn, up from $3.3bn a year earlier and higher than $6.1 billion average forecasts and $3.3 billion in the year-ago period. BP described “exceptional” profits from its gas trading and low-carbon energy division bringing in $6.2bn, up from $3bn in the second quarter. BP shares have risen more than 45 per cent this year. BP will buy back a further $2.5bn in shares … Continue reading “BP Posts Huge Natural Gas Trading Profit, to Increase US Oil and Gas Production”
Highest BP Profit in 14 Years on Higher Refinery Margins and Oil Trading
British oil major BP PLC reported better than expected second quarter earnings Tuesday. $BP net income was $8.45bn (£6.9bn), higher than $6.8 billion average forecasts and $2.8 billion in the year-ago period. BP’s profits were the second highest for the second quarter in the firm’s history. Shares in BP rose 3.7% in morning trading in London. The report follows other energy giants reporting massive profits this quarter, Energy giant ExxonMobil, the largest U.S. oil company, reported its second-quarter profit rose … Continue reading “Highest BP Profit in 14 Years on Higher Refinery Margins and Oil Trading”
BP Raises Dividend and Buybacks After Higher Commodity Prices Boost Profits
British oil major BP PLC reported better than expected second quarter earnings Tuesday. $BP approved a dividend hike of 4% & plans to buy back $1.4 billion worth of shares. Higher profit margins at convenience stores in BP’s petrol stations boosted results.
UK Affirmed AA by Fitch, Off Ratings Watch Negative, Brexit Deal Expected
Rating agency Fitch affirmed UK at ‘AA’ and removed them from Rating Watch Negative (RWN). The Outlook is Negative. Forecast highly likely UK leaves EU with an agreement on Jan 31 2020. Uncertainty regarding future of UK and EU relations for some time.
UK Exports Hit Record High But Trade Deficit Largest in 6 Months
Heading into the UK General elections and with the Brexit uncertainty goods and services from the UK hit a record high in October. However UK imports jumped 6.2% in October causing the UK trade deficit to be the largest in 6 Months.
BP Upstream and Downstream Efficiency Help Offset Lower Oil Price
British Oil major BP PLC reported better than expected second quarter earnings Tuesday. $BP citing the improved efficiencies of both its upstream and downstreams segments in the face of falling oil and gas prices.
BP Beat Earnings On Higher Production, Raises Dividend
British Oil major BP PLC reported better than expected fourth quarter earnings Tuesday. $BP raised it’s dividend as revenue is boosted by surging production. $BP report after fellow majors $XOM, $CVX, RDSA, $COP and $TOT reports.
BP Beat Earnings On Higher Oil Prices, Sees Lower Refining Margins
British Oil major BP PLC reported better than expected second quarter earnings Tuesday. $BP have been continuing it’s share buy back program. $BP reports ahead of fellow majors $XOM, $CVX and RDSA earnings, $COP and $TOT reported last week.
BP Earnings Rise on Upstream Oil and Natural Gas Prices
British Oil major BP PLC reported second quarter earnings Tuesday matching analyst expectations. $BP continued it’s share buy back program. $BP follows fellow majors $XOM, $CVX,$COP, $TOT, $E and $RDSA reports