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The Guardian

BP posts weakest quarterly profits in almost four years amid lower oil prices

The Guardian on
BP posts weakest quarterly profits in almost four years amid lower oil prices



Energy company says it plans to cut at least $2bn of cash costs from the business by the end of 2026Business live – latest updatesBP has reported its weakest quarterly profits in almost four years after the slump in global oil prices and falling margins in its refinery business.The oil company revealed underlying profits of almost $2.3bn for the third quarter, its weakest quarterly result since the fourth quarter of 2020 when Covid travel restrictions caused oil prices to crash. Continue reading…



Source link : https://www.theguardian.com/business/2024/oct/29/bp-profits-lower-oil-prices-energy-refinery-business

Author : Jillian Ambrose

Publish date : 2024-10-29 08:19:08

Copyright for syndicated content belongs to the linked Source.

Tags : The Guardian

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