BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks

Oct 30, 2024 · Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico. ... BP Profit Falls On Weak Oil Prices, May Slow ...

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Why BP Shares Slid Despite Earnings Beat And Buyback Update

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Oct 29, 2024 · Q3 profit plunges 30%; Weak refining margins and oil trading weigh; Buybacks rate maintained; Oil major BP ( delivered a better-than-feared drop in profits for the third quarter to …

sharesmagazine.co.uk

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BP Stock Falls With Share Buybacks Set To Slow. Oil Prices Are Down.

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May 2, 2023 · American depositary receipts of BP traded down 5% in premarket trading on Tuesday after the British oil major disappointed investors with a slower rate of share buybacks, …

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BP Profit Falls On Weaker Oil, Gas Prices; Misses ... - Morningstar

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May 7, 2024 · By Christian Moess Laursen . BP's first-quarter profit was hit by lower prices for oil and gas sold, missing market forecasts, but the British energy company confirmed a $1.75 …

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BP Delays Key Strategy Update After CEO Medical Procedure

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1 day ago · BP in October raised the possibility that its share buybacks will slow this year from the US$1.75 billion quarterly pace seen in 2024. In the final months of 2024, unexpected …

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BP Expands Share Buybacks Despite Falling Profits - Yahoo Finance

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Feb 6, 2024 · The company is being criticised for expanding its share buybacks, with Global Witness claiming that the oil major’s shareholder payouts have increased by 43% compared to …

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BP Profit Falls On Lower Prices, Outage At Oil Refinery — Energy ...

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May 7, 2024 · On oil production and operations: BP's oil production-and-operations segment booked $3.125 billion in underlying RC EBIT, down from $3.32 billion a year prior and from …

morningstar.com

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BP Reports Lowest Quarterly Profit Since Pandemic On Weak Oil Prices

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Oct 29, 2024 · BP reports lowest quarterly profit since pandemic on weak oil prices Energy group pledges to review share buyback plan in February after latest $1.75bn repurchase

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BP Promises Buybacks And Hikes Dividend Despite Profit Fall

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Feb 6, 2024 · BP p.l.c. is one of the world's leading oil groups. Net sales break down by activity as follows: - refining and distribution (76.1%): At the end of 2023, the group had 7 refineries …

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BP Profit Slumps To Near Four-year Low As Oil Demand Sags - Yahoo …

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Oct 29, 2024 · LONDON (Reuters) -BP on Tuesday reported a 30% drop in third-quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil …

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BP Maintains Share Buybacks Even As Profit Falls, Debt Rises

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Oct 29, 2024 · BP Plc maintained its pace of its quarterly buybacks at $1.75 billion even as weak oil prices put pressure on the company’s balance sheet. The British major kicked off earnings …

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As Crude Prices Fade, Big Oil Must Borrow To Pay Investors

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Oct 28, 2024 · Exxon Mobil Corp., Chevron Corp., Shell Plc, TotalEnergies SE and BP Plc are expected to post a 12 per cent dip in earnings from last quarter to a combined US$24.4 billion …

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FAQs about BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks Coupon?

How did BP perform despite a drop in earnings?

Despite the decrease in earnings, BP reported strong results from its U.S. shale segment and momentum for new projects in the U.S. Gulf of Mexico. Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico. ...

Why did BP drop 3rd-quarter profit?

BP on Tuesday reported a 30% drop in third-quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results. ...

Why did BP's third quarter profit drop 30%?

LONDON (Reuters) — BP (BP, BP.L) on Tuesday reported a 30% drop in third quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results. The drop in profit from a year earlier was, however, smaller than expected. ...

Why is BP the worst performing big oil stock this year?

The European majors have higher debt levels, allowing less room to maneuver. BP warned of rising net debt levels earlier this month despite already having the highest leverage ratio among its peers. The company is also the worst performing Big Oil stock this year, declining 13 per cent compared with a 2.3 per cent drop in crude. ...

Why did BP report a fall in first-quarter earnings?

BP reported a fall in first-quarter earnings following weaker oil and gas prices, while it ramped up oil production. An unplanned outage at its biggest oil refinery and lower refining margins also hampered the results. Here what the British energy major had to say. On gas and low-carbon energy: ...

Why did BP's oil & gas production rise 3%?

BP's oil and gas production rose by 3% from a year earlier to 2.38 million barrels of oil equivalent per day (boed), helping to offset a drop in refining margins and weaker oil trading. Higher natural gas prices further boosted earnings, although gas trading was average in the quarter, BP said. ...