BP reported adjusted results below expectation in Q4 15 at $200m vs. $700m expected. Impairments were close to $2bn. Full-year results were down 51% on 2014. The disappointment came from the refining division with earnings of €1.2bn, only half of the Q3 15 figure, due to weak supply and trading results. Non-US downstream earnings came in at €741m vs. €1.4bn in Q3 15. Refining margins in the first quarter are expected to be lower than the fourth quarter. Upstream came in with a
02 Feb 2016
First View: Weak Refining
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First View: Weak Refining
BP p.l.c. (BP:LON) | 529 33.8 1.2% | Mkt Cap: 88,957m
- Published:
02 Feb 2016 -
Author:
Alexandre Andlauer -
Pages:
2
BP reported adjusted results below expectation in Q4 15 at $200m vs. $700m expected. Impairments were close to $2bn. Full-year results were down 51% on 2014. The disappointment came from the refining division with earnings of €1.2bn, only half of the Q3 15 figure, due to weak supply and trading results. Non-US downstream earnings came in at €741m vs. €1.4bn in Q3 15. Refining margins in the first quarter are expected to be lower than the fourth quarter. Upstream came in with a