Stock Data
$0.64 (1.51%)
Asset Type
Common Stock
Exchange
NYSE
Currency
USD
Country
USA
Sector
ENERGY
Industry
OIL & GAS INTEGRATED
BP plc participates in the energy business globally. The company is headquartered in London, the United Kingdom.
A 140% jump in net income still is not enough: new CEO Meg O'Neill says performance has not met shareholder expectations, cutting 700 jobs and guiding to $8 billion to $9 billion in divestment proceeds including roughly $6 billion from Castrol. Brent averaged $103.85 a barrel versus $67.88 a year ago, with refining margins of $29.60 per barrel.
bp's realized indicator refining margin hit $29.6 a barrel versus $11.9 a year ago, funding a 4% dividend increase and cutting net debt to $22.25 billion. New CEO Meg O'Neill says the company still is not making the most of its potential, with 700 job cuts and a $6 billion Castrol sale queued up. Q3 customers earnings are guided significantly lower.
BP reports before the bell Tuesday, and the trading desk is the whole story: European majors just out-earned their US rivals on crude volatility, while Chevron posted its best quarter in six years. Buyback pace and debt reduction are what the $114 billion market cap hinges on, with read-throughs straight into Shell and TotalEnergies.
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