The results show positive contributions from Rosneft and all Downstream divisions, partly offsetting the Upstream division, which was down on lower prices and lower production. The release has been toned down by management, indicating that a dividend hike will not be likely in Q4 as the focus is on deleveraging. This is not surprising, in our view, since H2 had little room for improvement with the buy-back planned and we do not see this as a departure from the progressive dividend policy.
29 Oct 2019
Q3: upstream impacted by weather, partly offset by a strong downstream
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Q3: upstream impacted by weather, partly offset by a strong downstream
BP p.l.c. (BP:LON) | 496 14.4 0.6% | Mkt Cap: 83,799m
- Published:
29 Oct 2019 -
Author:
Kevin VO -
Pages:
3
The results show positive contributions from Rosneft and all Downstream divisions, partly offsetting the Upstream division, which was down on lower prices and lower production. The release has been toned down by management, indicating that a dividend hike will not be likely in Q4 as the focus is on deleveraging. This is not surprising, in our view, since H2 had little room for improvement with the buy-back planned and we do not see this as a departure from the progressive dividend policy.