Bernard Looney’s first de-Russified results should be a cause for celebration. While the BP boss had to swallow a $24 billion hit from writing the value of his 20% Rosneft stake to zero, he also made $6.2 billion of underlying first-quarter earnings from sky-high oil and gas prices. Besides beating analyst expectations by 39%, that let the $100 billion UK oil major cut its net debt and reduce the hit to its balance sheet from quitting Russia.
stake to zero, he also made $6.2 billion of underlying first-quarter earnings from sky-high oil and gas prices. Besides beating analyst expectations by 39%, that let the $100 billion UK oil major cut its net debt and reduce the hit to its balance sheet from quitting Russia.
There’s such a thing as doing too well, though. Politicians hunting for windfalls to tax in Spain and Italy are struggling for lucrative targets– many electricity groups are not reaping bumper profits after selling their power forward when prices were lower. BP’s first-quarter earnings, however, dwarf 2021’s $2.6 billion.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
FOMC meeting: 50 Bps is baked in, but what comes next?As UK markets get ready to go back to work on Tuesday after the May Day Bank Holiday, the FOMC meeting that concludes this Wednesday is the key focus
Weiterlesen »
Kaia Gerber Rocked Larger-Than-Life Hair to the Met GalaIt’s giving Brooke Shields in “The Blue Lagoon” — but make it gilded.
Weiterlesen »
Florida’s $1 Billion Disney QuestionWhen Florida Republicans approved a bill to strip Disney of its special tax privileges in, they failed to address a key question: Who's responsible for paying back nearly $1 billion in municipal debt used for infrastructure around Disney World?
Weiterlesen »
Your May 2022 Horoscope Is Here — & The Vibes Are (Mostly) GoodLeave it to the eclipses and Mercury retrograde to make a seemingly exciting month feel as though it’s an emotional wash.
Weiterlesen »
In the world of L.A. lowriding, a car club plaque serves as a sacred languageWhether it’s time spent with the club, whether it’s building the car, whether it’s how much effort you put into helping others, it’s an earned piece.
Weiterlesen »