EnergyWatch

BP further tightens spending

The oil crisis may not have been averted, but has at least been held at bay for oil giant BP. The company confirms previous rumors of further reductions in investments.

Photo: BP/PR

After a row of losses in the last three quarterly reports, British BP can now please investors with a profit in the third quarter of this year. However the plus is still far below the figures seen in the same quarter last year.

Gross earnings, which BP terms "replacement cost profit" amounted to USD 933 million (EUR 848 million) against USD 1.8 million in the same quarter last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs