3Q BP profit declines $400-$600m due to weak refining margins, sluggish oil trading, global demand downturn, and economic slowdowns in China.

BP anticipates a third-quarter profit decline of $400 million to $600 million due to weak refining margins and sluggish oil trading, influenced by a global demand downturn and economic slowdowns in major markets like China. The company also expects its oil production operations to face a loss of $100 million to $300 million from lower prices. BP's net debt is projected to rise, partly due to these factors and divestment proceeds.

October 11, 2024
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