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Stocks

“BP earns $3 billion at the end of last year but saw its annual profit fall by half from 2022”

“Oil and natural gas giant BP beat expectations on Tuesday with earnings of $3 billion in the last three months of 2023, bringing last year’s total to half its record 2022 profit as energy prices have fallen since spiking after Russia’s invasion… Continue Reading…

Energy

“One activist investor is taking on BP, urging the oil giant to scale back green pledges”

“Activist investor Bluebell Capital Partners is pushing for BP to urgently change tack, saying it is “highly debatable” whether the oil major’s strategy of reducing fossil fuel investments in favor of clean energy has any chance of succeeding…” https://www.cnbc.com/2024/01/30/bp-activist-investor-urges-oil-giant-to-scale-back-green-pledges.html It has zero… Continue Reading…

Business

“BP Stock Falls After Earnings. It’s Tough for Big Oil to Beat Last Year.”

“BP the oil and gas company, missed analyst estimates for profit in the third quarter. It goes to show how hard it is for Big Oil to keep investors happy after making record profits last year. London-based BP (ticker: BP)… Continue Reading…

Business, Stocks

“BP Earnings Fall 65% With Oil Major’s Surplus Cash Turning Negative”

“…But BP stock rose Tuesday following results, helped by a 10% dividend hike and buyback. Shares flirted with a possible early entry with crude oil prices on the rebound. CVX and XOM reported on Friday that second-quarter sales fell around 30%… Continue Reading…

Business, Economy, Energy

“Oil major BP braces itself for shareholder revolt after scaling back its climate targets”

“BP is bracing itself for a shareholder revolt at its annual general meeting on Thursday — some of the U.K.’s biggest pension funds are planning to ratchet up the pressure on the oil major after it rolled back its emission… Continue Reading…

Business

“BP posts $3.3 billion third-quarter profit, beating estimates as oil prices surge”

“Oil and gas giant BP beat third-quarter earnings expectations on Tuesday, fueled by surging energy prices. The British energy major posted an underlying replacement cost profit, a proxy for net profit, of $3.3 billion for the third quarter, above analyst estimates of… Continue Reading…

Business, Economy, Stocks

“BP Launches Share Buyback as Profits Soar. What It Means for the Stock.”

“BP stock made gains early on Tuesday, as the oil major committed to $500 million share buybacks after profits more than tripled in the first quarter. The London-listed energy giant cited “exceptional” gas marketing and trading performance and higher oil prices… Continue Reading…

Business

“BP will slash oil production by 40% and pour billions into green energy”

“BP is planning to slash oil and gas production and pour billions of dollars into clean energy as part of a major strategic overhaul unveiled on Tuesday, alongside a huge second quarter loss and dividend cut. The London-based company said that it plans a… Continue Reading…

Business, Economy

“Energy Firm BP to Cut 10,000 Jobs Worldwide…”

“Energy company BP said Monday that its global workforce will be trimmed by 10,000 jobs… Chief Executive Bernard Looney said that the roles will be office-based and come mostly this year. The company’s current global workforce is 70,000. The changes… Continue Reading…