Adjusted net income came in slightly higher than expected and up 18% qoq at $3.32bn, on the back of the higher oil & gas prices, but note sequential improvements in every division (i.e. refining in the black, positive contributions from gas trading). The company is starting a new tranche of its share buy-back programme, at $1.25bn, a positive as it is above the surplus cash flow of $0.9bn, and supported by the strong prices seen in Q4.
02 Nov 2021
Q3: buy-back supported by outlook
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Q3: buy-back supported by outlook
BP p.l.c. (BP:LON) | 515 12.9 0.5% | Mkt Cap: 86,616m
- Published:
02 Nov 2021 -
Author:
Kevin VO -
Pages:
3
Adjusted net income came in slightly higher than expected and up 18% qoq at $3.32bn, on the back of the higher oil & gas prices, but note sequential improvements in every division (i.e. refining in the black, positive contributions from gas trading). The company is starting a new tranche of its share buy-back programme, at $1.25bn, a positive as it is above the surplus cash flow of $0.9bn, and supported by the strong prices seen in Q4.