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BP profit hit by weaker refining margins
BP says lower refining margins will hit profits by up to $600 million
BP said it expects the global slump in refining margins will see it take a $400 million to $600 million hit to its profits after Shell made a similar warning this week
BP profit hit by weaker refining margins as ‘flat’ oil and gas production forecast
The oil giant also said it expects net debt to now come in higher, driven primarily by the impact of weaker refining margins.
BP says weak refining margins to dent Q3 profit
Weak refining margins due to a slowdown in global demand for fuel and lower oil trading results will dent BP’s third-quarter profit by up to US$600 million, the British oil major said on Friday (Oct 11).
2d
Oil giant BP’s refining business sees lower margins as global oil demand stalls
BP expects a slump in refining margins to take a $400m (£306m) to $600m (£459m) chunk out of its third-quarter profit.
Bloomberg L.P.
2d
BP Sees Net Debt Rising in Third Quarter Amid Weak Refining
BP
Plc expects its net debt to have risen in the third quarter due to lower
refining
margins and changes to the timing of ...
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