The adjusted net income is in line with consensus at $2.36bn. The adjusted EBIT is down 25% qoq, with upstream down 25% at $2.9bn and downstream down 20% qoq at $1.7bn. The group’s production is up 2% qoq at 3.8mbpd. Gearing is stable at 30.4% and share buy-backs totalled $50m this quarter and are expected to be H2-weighted (to offset the scrip dilution).
02 May 2019
Q1: Upstream busy with BHP assets and project deliveries
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Q1: Upstream busy with BHP assets and project deliveries
BP p.l.c. (BP:LON) | 524 3.1 0.1% | Mkt Cap: 88,116m
- Published:
02 May 2019 -
Author:
Kevin VO -
Pages:
3
The adjusted net income is in line with consensus at $2.36bn. The adjusted EBIT is down 25% qoq, with upstream down 25% at $2.9bn and downstream down 20% qoq at $1.7bn. The group’s production is up 2% qoq at 3.8mbpd. Gearing is stable at 30.4% and share buy-backs totalled $50m this quarter and are expected to be H2-weighted (to offset the scrip dilution).