BP boosted its share buyback programme after net profit soared to its highest in more than a decade on strong oil and gas trading results, as the energy company took a $24 billion charge after exiting its operations in Russia.
The company, which also halted trading Russian oil, said the exit from Russia, which contributed 3 per cent of the company’s cash flow last year, would not impact its plan to shift away from oil and gas towards renewables. The profit was driven by “exceptional” performance of BP’s oil and gas trading division as well as higher oil and gas prices and strong refining margins. The company did not make any money from Rosneft in the quarter.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BP boosts buybacks as profit soars to highest in decadeBP boosted its share buyback programme after net profit in the first quarter rose to $6.25 billion, the highest in more than a decade on strong oil and gas trading results.
Source: RTEbusiness - 🏆 16. / 61 Read more »
BP boosts buybacks as profit soars to highest in decadeBP boosted its share buyback programme after net profit in the first quarter rose to $6.25 billion, the highest in more than a decade on strong oil and gas trading results.
Source: RTEbusiness - 🏆 16. / 61 Read more »
Source: IrishTimesBiz - 🏆 6. / 77 Read more »
Source: IrishTimesBiz - 🏆 6. / 77 Read more »
Source: IrishTimesSport - 🏆 2. / 99 Read more »