BP 2020 set its goal to be a zero-net company “by 2050 or sooner.”

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BP Stocks drop on Tuesday The firm has warned that lower refining profits will affect its results. It expects an impairment of $2 billion or more in the second-quarter.

BP shares dropped 2.6% during early trading at 8:39 a.m. London time.

In A Tuesday In a statement, the company stated that it anticipates weaker refinery margins and oil trade performance to weigh on its results for its second quarter, which are due on 30 July. The The estimated cost of a hit is between $500 and $700 million.

The The energy company also expects post-tax asset impairments as well as contract provisions to range from $1 billion to $2 billion during the second quarter. The Charges include charges relating BP’s ongoing investigation of its Gelsenkirchen The refinery industry is an example of a modern way to refine products. Germany.

Upstream Production for the second quarter has been revised upwards to a projected 50,000 tonnes “broadly flat” BP stated that the results of gas trading and marketing will be average compared to those from the previous quarter.

BP faces a transition period after the departure of former CEO Bernard Looney resigned Due to personal relationships that were not disclosed with co-workers, the CEO was only in office for less than four years. The You can also contact us by clicking here. appointed Murray Auchincloss as permanent CEO in January.

The By the end of 2026, the firm plans to save at minimum $2 billion in cash costs. Weaker Fuels with a margin and lower prices for gas and petroleum impacted BP results for the first quarter led to a decrease in profit.

Last Week of rival energy giant Shell The company also announced that they expect to record a post-tax impairment hit It is estimated that the company could earn up to $2 billion from its main activities. Singapore You can also find out more about the following: Rotterdam plants. It The second quarter performance of its core gas division in terms of trading and optimizing is expected to be lower than the first three months of 2024. “due to seasonality.”

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