BP reported solid Q3 17 results, with adjusted net income of $1.87bn, above market expectations of $1.58bn. Key highlights: - Refining earnings up 63% yoy, contribution around 66% of the group’s earnings. - Production increased by 14% yoy to 3.6mbpd thanks to three major projects starting up in the last quarter. - Year-to-date organic balance at $49/bbl. - Share buy-backs announced to offset scrip dilution. - Around $4.5bn in disposal proceeds are expected for full-year 2017, with $1.0b
31 Oct 2017
First view: refining company in Q3 17; first to have a share buy-back
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First view: refining company in Q3 17; first to have a share buy-back
BP p.l.c. (BP:LON) | 526 13.2 0.5% | Mkt Cap: 88,495m
- Published:
31 Oct 2017 -
Author:
Alexandre Andlauer -
Pages:
2
BP reported solid Q3 17 results, with adjusted net income of $1.87bn, above market expectations of $1.58bn. Key highlights: - Refining earnings up 63% yoy, contribution around 66% of the group’s earnings. - Production increased by 14% yoy to 3.6mbpd thanks to three major projects starting up in the last quarter. - Year-to-date organic balance at $49/bbl. - Share buy-backs announced to offset scrip dilution. - Around $4.5bn in disposal proceeds are expected for full-year 2017, with $1.0b