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Name | Symbol | Market | Type |
---|---|---|---|
BP Plc | NYSE:BP | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.45 | 1.18% | 38.67 | 38.84 | 38.44 | 38.50 | 10,021,188 | 23:10:36 |
By Jaime Llinares Taboada
BP PLC on Tuesday reported impairments of $25.5 billion following the decision to exit its 19.75% shareholding in Russia's Rosneft Oil Co.
As a result, the British energy major booked a net loss of $20.38 billion for the first quarter of the year--compared with a $2.33 billion profit in the fourth quarter of 2021.
Underlying replacement cost profit, the company's preferred metric, rose to $6.25 billion from $4.07 billion, reflecting exceptional oil and gas trading profits, higher oil realizations and a stronger refining result. This was above the market consensus of $4.49 billion compiled by BP and averaged from 26 brokers.
BP declared a dividend of 5.46 cents a share for the first quarter, in line with the immediately prior period, and a share buyback of $2.5 billion.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
May 03, 2022 02:32 ET (06:32 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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