Similar to Shell last week, BP beat consensus thanks to the higher oil & gas prices and is starting a $1.5bn share buy-back programme.
Management provided an update on its strategy, the key point being the persistent role of hydrocarbons in the group for 2026-30. Despite the 40% decline in production, capex will only see a limited reduction vs 2021, as BP continues its high-grading programme. The bullish outlook on oil is back on.
08 Feb 2022
Q4: high grading hydrocarbons production
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Q4: high grading hydrocarbons production
BP p.l.c. (BP:LON) | 496 14.4 0.6% | Mkt Cap: 83,799m
- Published:
08 Feb 2022 -
Author:
Kevin VO -
Pages:
3
Similar to Shell last week, BP beat consensus thanks to the higher oil & gas prices and is starting a $1.5bn share buy-back programme.
Management provided an update on its strategy, the key point being the persistent role of hydrocarbons in the group for 2026-30. Despite the 40% decline in production, capex will only see a limited reduction vs 2021, as BP continues its high-grading programme. The bullish outlook on oil is back on.