BP announces weaker results for Q1 2024
by ChemOrbis Editorial Team - content@chemorbis.com
British energy giant BP reported a net profit of $2.7 billion for the first quarter of 2024, down by 40% from $5 billion in the same period of last year. The figure also declined from the $3 billion net profit announced in the previous quarter.
The weaker results were attributed to lower oil and gas realizations, the impacts of the Whiting refinery outage and significantly weaker fuels margin.
The oil productions and operations segment reported a profit before interest and tax of $3.1 billion in the first quarter, compared with $1.9 billion for the previous quarter.
The weaker results were attributed to lower oil and gas realizations, the impacts of the Whiting refinery outage and significantly weaker fuels margin.
The oil productions and operations segment reported a profit before interest and tax of $3.1 billion in the first quarter, compared with $1.9 billion for the previous quarter.
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