BP profits Q4 2024

Great British oil BP On Tuesday, he achieved a sharp decrease in profits in the fourth quarter on the weakest refining margins, and announced the re -purchase of a $ 1.75 billion share and pledged to reset its strategy “mainly”.

The Energy Company has recorded the basic replacement cost profits (RC Profit) – which is used as a substitute for a net profit – at $ 1.169 billion in the fourth quarter, compared to $ 2.99 billion in the same period last year and an analyst of $ 1.2 billion, according to the LSEG poll.

The company has strengthened its 48 % semester decrease in RC’s profit to “weaker refining margins, a higher effect of transformation activity, seasonal clients’ sizes, fuel margins, other businesses and corporate basic fees.”

Packing only BP debt from $ 23 billion in the fourth quarter, and an increase of 10 % on an annual basis. Capical expenditures (CEPEX) reached $ 3.7 billion in the October period to December, a sharp decrease from $ 4.7 billion from the fourth quarter of 2024.

Nevertheless, Energy Compareled has launched a reset of $ 1.75 billion for the fourth quarter, with profits for each ordinary share of $ 0.08. Analysts had previously asked whether BP was slowing down with the reconciliation of its public budget.

“BP has led re -purchases from $ 1.75 billion to 1Q, although no guidance is giving RBC analyzes on Tuesday:” CMD or results.

In the collapse of its business, BP noticed a 15 % decrease on an annual basis in the GAS & Low Carbon Energy’s RC profit to 1.84 billion dollars, despite the sharp recovery of one billion dollars in the previous quarter. Oil production and its operations jumped by 37 % on an annual basis, while the company has a sign of a “weak” contribution in general from the Oil Trading Department after the weakest refining margins.

BP shares were changed slightly after the results, a decrease of 0.13 % only at 08:40 am London time.

Oil specialties have succeeded in turning the tide over the past year, as crude prices fell after the initial support after Russia invaded 2022 to the sanctions of Ukraine, Western and G7 against Moscow barrels. In the January trading updateBP reported the costs of high companies, as it achieved a decrease in the fourth quarter of refining margins and one -time fee linked to its vital ethanol.

The BP performance has widespread from its peers, as the shares decreased by almost 9 % during the past year to the end of last week – compared to 6 % of the gains coincidence. The stocks gained a ground on Monday, following reports on the weekend that the activist Elliot investor has built a stake in the stalled oil, which provides a speculation stating that the influential hedge fund could pressure the energy company to change gears on basic oil and gas companies.

Speculation has long left whether BP could become a goal of acquisition-although the size of the company, which has an area of ​​74 billion pounds, can be a challenge for the suitor.

BP sought to convert its wealth Big rest structure This included reducing the size of driving amid Auchincloss efforts to provide at least $ 2 billion of cash savings by the end of 2026. In January, the company expanded the cost drive engine To reduce 4,700 roles And it revealed last week that it is Searching for buyers For the assets of the German Ruhr Oel GmbH. However, it is related to the clarity of the strategic direction of BP amid sprawling green energy aspirations – with the company introducing the following strategic update on February 26.