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BRITISH OIL GIANT BP POSTS WEAKEST QUARTERLY EARNINGS IN NEARLY FOUR YEARS ON LOWER CRUDE PRICES

Tina Collins

Tina Collins

— 1 min read
BRITISH OIL GIANT BP POSTS WEAKEST QUARTERLY EARNINGS IN NEARLY FOUR YEARS ON LOWER CRUDE PRICES
BRITISH OIL GIANT BP POSTS WEAKEST QUARTERLY EARNINGS IN NEARLY FOUR YEARS ON LOWER CRUDE PRICES

Weak Earnings: BP reported its lowest quarterly earnings in nearly four years due to lower oil prices and refining margins.

Profit Numbers: BP made $2.3 billion in net profit from July to September, which was slightly better than the $2.1 billion analysts expected.

Comparison with Previous Quarters: BP earned $2.8 billion in the second quarter of 2023 and $3.3 billion in the third quarter of 2022.

CEO Statement: BP’s CEO highlighted the company's focus on simplifying operations and increasing value.

Future Focus: BP aims to grow by focusing on the value of oil and gas, with a strong belief in energy transition opportunities.

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