RE: ADNOC recently eyed BP as a takeover target12 Apr 2024 07:20
BP expects to report a strong performance from its trading business for the first quarter of this year, with a notable improvement in results from buying and selling oil.
“BP’s first trading update suggests limited downside to consensus numbers” for first-quarter earnings, with strong gas trading results providing an uplift, Jefferies analyst Giacomo Romeo said in a note.
BP’s gas marketing and trading business maintained the strong performance seen in the prior period, while oil showed improvement from a weak fourth quarter, according to the company.