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News Wire / economy

BP Profits More Than Double In Q1

BBC Radio 4 London 15d15d Impact 8
Oil giant BP announced profits exceeding £2 billion for the first three months of the year. This figure is more than double the profits reported during the same period 12 months ago. The company attributed the rise largely to surging oil prices caused by the Iran War. Profits increased 459 percent compared to the same period last year, totaling a gain of approximately 3.286 billion euros due to rising crude oil prices. Shares of London-based BP rose today following a surge in profits from energy trading and refining. The increase in share price was driven by spiraling energy prices. This performance comes amid a broader report on European earnings trends. The source noted that trading and refining performance beat expectations. British oil company BP reported an adjusted net profit of $3.2 billion for the first quarter.

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BP oil prices earnings

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Sources · 7 independent

BBC Radio 4

“The oil giant BP has announced it made more than £2 billion in profits in the first three months of the year.”

BBC Radio 4

“The oil giant BP has announced it made more than £2 billion in profits in the first three months of the year. That's more than double the same period 12 months ago.”

Radio Renascença

“Entre janeiro e março, os lucros da BP aumentaram 459%, em relação ao mesmo período do ano passado, o que representa um ganho de cerca de 3.286 milhões de euros.”

Bloomberg Radio

“When it comes to oil trading though, there was better news for London-based BP. Shares hired today after spiralling energy prices drove a surge in profits from trading and refining beating.”

Bloomberg Radio

“energy prices drove a surge in profits from trading and refining beating.”

MDR Aktuell

“Der britische Ölkonzern BP hat zu Jahresbeginn seinen Gewinn mehr als verdoppelt. Die durch den Iran-Krieg ausgelösten Preisspringer am Ölmarkt halfen dem Ölmulti die Erwartungen deutlich zu übertreffen.”

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