Rising costs, weaker production, lower refining margins eat into BP's third-quarter profit
BP anticipates that its net debt at the end of the third quarter will be higher, primarily due to weaker refining margins and the rephasing of about $1 billion in divestment proceeds into the fourth quarter. All these factors are expected to influence BP’s underlying replacement cost (RC) profit before interest and tax.
BP announced today it was cutting around 1,000 jobs at a huge oil refinery. The company said the decision followed a 10-week review of the Grangemouth refinery and petrochemical complex in ...
The London-based energy giant, whose BP Whiting Refinery is its largest refinery in the world, is selling a non-controlling stake in BP Pipelines TAP Limited, which holds a 20% share in Trans ...
The U.S.-based asset management company would become a non-controlling shareholder in BP's unit that holds a 20 ... from the Greek border with Turkey to Southern Italy. Trans Adriatic Pipeline ...
LONDON (Reuters) -Shell's refining profit margins dropped by nearly 30% in the third quarter from the previous three months as global demand sagged, while oil product trading earnings also ...
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