BP anticipates $2bn impairment due to reduced refining margins and weak oil trading in Q2.
BP, a major oil company, expects its second-quarter earnings to be adversely affected by reduced refining margins and weak performance in oil trading, leading to a potential $2bn impairment. The company anticipates a decline in refining margins between $500m to $700m due to decreased refining margins and underperforming oil trading operations. BP shares fell more than 3% following this announcement.
July 09, 2024
14 Articles