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Share Price Information for BP (BP.)

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Share Price: 503.70
Bid: 503.80
Ask: 503.90
Change: -6.70 (-1.31%)
Spread: 0.10 (0.02%)
Open: 506.40
High: 515.30
Low: 499.60
Prev. Close: 510.40
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BP upbeat despite falling profits in fourth quarter

Tue, 05th Feb 2013 07:17

Profits at oil titan BP slipped in the fourth quarter owing to lower upstream production levels, but the company assured that it well-positioned for growth after moving past 'many milestones' last year.Underlying replacement cost (RC) profit, adjusted for non-operating items and fair value accounting effects, totalled $4.0bn in the last three months of 2012, down from $5.0bn a year earlier. Nevertheless, net debt fell from $31.5bn to $27.5bn during the quarter, with the gearing level of 18.7% within the company's target range of 10-20%.Underlying RC profit for 2012 as a whole fell from $21.7bn to $17.6bn.  "We have moved past many milestones in 2012, repositioning BP through divestments and bringing on new projects. This lays a solid foundation for growth into the long term," said Chief Executive Bob Dudley."Moving through 2013 we will deliver further operational milestones and remain on track for delivery of our ten-point strategic plan, including our target for operating cash flow growth, by 2014."Underlying production of oil and gas in upstream, which excludes output from the exited TNK-BP joint venture, was broadly flat in 2012, in line with the company's guidance. However, fourth-quarter production fell 7.0% year-on-year to 2.29m barrels of oil equivalent per day, as the impact of of divestments, production sharing agreement effects and natural field declines partially offset by new production from major projects.In downstream, BP delivered a record level of earnings in 2012, its fourth consecutive year of underlying profit growth. However, the fourth quarter was met with significantly lower refining margins than the previous quarter.
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30 Apr 2024 14:38

UK earnings, trading statements calendar - next 7 days

Wednesday 1 May 
Anexo Group PLCFull Year Results
Cambridge Cognition Holdings PLCFull Year Results
Computacenter PLCTrading Statement
Georgia Capital PLCQ1 Results
GSK PLCQ1 Results
Haleon PLCTrading Statement
HSS Hire Group PLCFull Year Results
Intelligent Ultrasound Group PLCFull Year Results
Maintel Holdings PLCFull Year Results
Next PLCTrading Statement
Smith & Nephew PLCTrading Statement
Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Norway's wealth fund falls short on climate ambitions, NGO says

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