BP profit falls 80% as oil prices drop

But the oil giant reported a surprise profit due to strength in refining and trading

26th April, 2016
BP profit has fallen by 80%

Profit adjusted for one-time items and inventory changes fell to $532 million (€473 million) from $2.6 billion a year earlier, the London-based company said. Analysts had expected a loss of $244.9 million, according to the average of 12 estimates compiled by Bloomberg.

“Lower costs, strong refining operations and an improved supply and trading contribution more than offset the impact of the weaker refining environment and the seasonal reduction in fuels sales,” BP said in the statement.

The...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Tom Maguire: Tax changes we make now could help business for years

More Business Tom Maguire 11 months ago

The Daily Briefing

The Daily Briefing