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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bp Plc | LSE:BP. | London | Ordinary Share | GB0007980591 | $0.25 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.20 | 0.23% | 516.80 | 517.00 | 517.10 | 520.00 | 512.00 | 513.30 | 41,361,726 | 16:35:01 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Petroleum Refining | 211.6B | 15.24B | 0.8934 | 5.79 | 88.21B |
By Jaime Llinares Taboada
BP PLC said Tuesday that it expects to have reached its $35 billion net debt target during the first quarter of 2021 as a result of earlier than expected delivery of disposal proceeds and a strong business performance.
The FTSE 100 oil major said it received around $4.7 billion of disposal proceeds in the first quarter.
Net debt had been reported at $38.9 billion as at the end of 2020, and was previously expected to increase during the first quarter of 2021.
BP had promised to return at least 60% of surplus cash flow to shareholders by way of share buybacks, subject to maintaining a strong investment-grade credit rating, once it reduced net debt to $35 billion.
BP said it now expects 2021 disposal proceeds at the top end of the previously guided range of $4 billion-$6 billion.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
April 06, 2021 02:30 ET (06:30 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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