BP shares fall to lowest since 2022 after sharp drop in the oil major's third-quarter profit
Publishing timestamp: 2024-10-29 07:04:05
Summary
BP reported its weakest quarterly earnings in nearly four years, with a net profit of $2.3 billion for the July-September period. The company's stock price has dropped over 16% year-to-date, and analysts expect BP to trim its shareholder returns next year due to a weaker macro environment. BP recently scrapped its pledge to reduce oil and gas production by 2030, focusing instead on more profitable fossil fuel operations.
Sentiment: MIXED
Tickers: CVX, SHEL-GB, BP.-LN, XOM, TTE-FR,
Keywords: business, breaking news: europe, exxon mobil corp, chevron corp, oil and gas, earnings, business news, shell plc, totalenergies se, equinor asa, united kingdom,
Source: https://www.cnbc.com/2024/10/29/bp-earnings-q3-2024.html