BP reveals 70pc dip in profit – but still sparks climate activists' anger

Aug 1, 2023 · BP reveals underwhelming £2bn profit – but still sparks climate activists' anger Oil giant pledges to increase its dividend despite 70pc decline in second quarter profit Matt Oliver …

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BP Reveals 70pc Dip In Profit – But Still Sparks Climate Activists' Anger

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BP Shares Dip After Announcing Weakest Profits In Nearly Four Years

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Oct 29, 2024 · BP posted a nearly 30% slump in underlying replacement cost profit to $2.3bn (£1.8bn) in the third quarter. Underlying replacement cost profit is the metric that BP uses as …

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BP Logs 70% Dip In Second-quarter Net Profit, Raises Dividend By 10%

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Aug 1, 2023 · BP logs 70% dip in second-quarter net profit, raises dividend by 10% BP's net income, missed expectations of $3.5 billion. British Petroleum. ... but still allowing the energy …

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BP’s £2bn Profits Cause Anger Amid Climate Crisis - Carbon Brief

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Feb 8, 2023 · BP’s £2bn profits cause anger amid climate crisis The Guardian Read Article Oil giant BP has seen a drop in profits from $8.5bn in the second quarter last year to $2.6bn this …

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BP Reveals Underwhelming £2bn Profit – But Still Sparks Climate ...

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BP reveals underwhelming £2bn profit – but still sparks climate activists' anger Latest News Latest News / Latest News 1 year ago 70 Views 0

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BP Shareholders Reject Climate Activist Resolution But Support …

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Apr 27, 2023 · The company, which reported a record profit of $28 billion in 2022 on the back of soaring energy prices, still aims for emissions to reach net zero by 2050. "We are delighted …

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

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Oct 30, 2024 · Third-quarter profit attributable to BP shareholders was approximately $2.27 billion—beating estimates of around $2.05 billion, Stifel analysts said—but down 31% from …

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FAQs about BP reveals 70pc dip in profit – but still sparks climate activists' anger Coupon?

Why did BP report a 70pc drop in profits?

Oil giant BP has reported a 70pc drop in profits on the back of lower oil and gas prices. The FTSE 100 company on Tuesday posted second-quarter profits of $2.6bn (£2bn), down from $8.5bn a year earlier. That was lower than the $3.5bn analysts had been expecting, echoing similarly disappointing numbers at rival Shell last week. ...

How did BP perform in the third quarter?

BP posted a nearly 30% slump in underlying replacement cost profit to $2.3bn (£1.8bn) in the third quarter. Underlying replacement cost profit is the metric that BP uses as its version of net income. The energy company had reported underlying replacement cost profit of $2.8bn in the second quarter and $3.3bn last year. ...

Will BP reduce its Climate Ambition?

To accelerate the transition, this all needs to happen faster, so that companies and investors are no longer tempted by the allure of quick oil profits. BP's announcement that it will reduce its climate ambition shouldn't come as a surprise given the profit to be made producing oil today. ...

Why did BP report record profits in 2022?

That optimism shattered on Tuesday, when BP became the latest oil supermajor to report record-high profits for 2022—while announcing, at the same time, a sharp rollback of its climate targets. Thanks in part to soaring gas and oil prices over the past year, BP’s underlying profits more than doubled in 2022, to $27.7 billion. ...

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. ...

Will BP's shift from green energy tarnish its financial standing down the track?

BP’s shift away from green energy, however, may tarnish the energy giant’s financial sitting down the track. David Grant, the senior deputy director of the UNSW Institute for Climate Risk and Response, had choice words for the company’s move, arguing it would worsen BP’s public image and come to bite it later. ...