The results came roughly in line with consensus with Upstream showing an operating loss and Downstream performing slightly better than expected (mainly due to margin hedges in refining, a supportive gas business and positive trading contributions). Yesterday, the group announced it had revised the dividend down to €1.75. Lastly, the group is now joining its European peers in announcing net zero emissions targets by 2050 (although limited to operations).
29 Jul 2020
Q2: asset disposal programme ongoing
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Q2: asset disposal programme ongoing
The results came roughly in line with consensus with Upstream showing an operating loss and Downstream performing slightly better than expected (mainly due to margin hedges in refining, a supportive gas business and positive trading contributions). Yesterday, the group announced it had revised the dividend down to €1.75. Lastly, the group is now joining its European peers in announcing net zero emissions targets by 2050 (although limited to operations).