News Formal

BP Misses Q1 Earnings Forecasts on Lower Oil and Gas Prices

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 23 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 68%

Earnings Nyheter

Profits,Crude Oil,Natural Gas

BP posted worse-than-expected earnings for the first quarter due to lower oil and gas prices and a refinery outage in the United States.

Lower oil and gas prices and a prolonged refinery outage in the United States dragged down BP’s earnings for the first quarter to below analyst expectations. UK-based supermajor BP NYSE BP reported on Tuesday an underlying replacement cost profit – the closest metric to net profit – of $2.7 billion for the first quarter of 2024, down from $3.0 billion for the previous quarter.

S. fuel supply and refinery utilization lower in the first quarter of 2024. BP’s upstream oil and gas production rose by 2.1% year-over-year to 2.378 million barrels of oil equivalent per day boepd in the first quarter. The higher hydrocarbon production, however, failed to offset lower oil and gas prices, weaker refining results, and the outage at the U.S. refinery. Despite the weaker profits for the first quarter of 2024, BP announced a $1.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 34. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Hess Q1 Earnings Trump Forecasts Ahead of Acquisition by ChevronHess Corporation reported better-than-expected earnings in the first quarter of 2024 as the planned acquisition by Chevron drags on.
Källa: OilandEnergy - 🏆 34. / 68 Läs mer »

Canadian Natural Resources Misses Q1 Earnings ExpectationsCanadian Natural Resources reported lower-than-expected earnings for the first quarter due to lower synthetic crude oil and natural gas prices.
Källa: OilandEnergy - 🏆 34. / 68 Läs mer »

Refining Giant Phillips 66 Books Lower-Than-Expected EarningsPhillips 66 reported lower-than-forecast profits for the first quarter of the year, with refinery maintenance affecting product sales.
Källa: OilandEnergy - 🏆 34. / 68 Läs mer »