British oil company bp earns 8,218 million dollars in the first quarter

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Inspenet, May 6, 2023

british oil bp record a net attributable profit of 8,218 million dollars in the first quarter of 2023, compared to the losses of 20,384 million dollars recorded in the same period of the previous year as a result of the disposal of its participation in Rosneft and its exit from the Russian market.

However, the underlying result of bp adjusted for replacement costs reached 4,963 million dollars in the first quarter of the year, 20.5% below the result corresponding to the first three months of 2022 as a reflection of oil prices less elevated.

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1769 bp ganancias trimestre 2023 shutterstock 2
British oil company bp earns 8,218 million dollars in the first quarter

bp’s revenues between January and March totaled $56,951 million, 11.2% more than in the first quarter of 2022.

On the other hand, the oil company reported that in the first quarter of the year it managed to reduce its net debt by 22.7% year-on-year, up to 21,232 million dollars, while it increased capital spending by 23.8%, up to 3,625 million dollars. Dollars.

In this way, the oil company expects to be able to carry out share repurchases of around 4,000 million dollars a year, a forecast that is located at the lower end of its range of capital expenditures of between 14,000 and 18,000 million dollars with capacity for an increase annual dividend per common share of the order of 4%.

“This has been a quarter of strong performance and strategic delivery as we continue to focus on safe and reliable operations,” said bp chief executive Bernard Looney.

Source : https://www.diariosigloxxi.com/texto-ep/mostrar/20230502100330/bp-gana-7475-millones-primer-trimestre – License “Attribution – Non-Commercial – No derivative works 3.0 Spain Creative Commons License”. https://creativecommons.org/licenses/by-nc-nd/3.0/es/

Cover photo : Editorial credit: Jevanto Productions / Shutterstock.com

Internal photo : Editorial credit: Sergiy Palamarchuk / Shutterstock.com

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