BP profit beats market views despite weaker refining margins

BP and BHP have partnered on a trial to use blended diesel with hydrogenated vegetable oil (HVO) to help BHP reduce carbon emissions from its iron ore operations in Western Australia. (Image: BP)

The Wall Street Journal

Wed, 31 Jul 2024

By Christian Moess Laursen BP’s underlying profit rose in the second quarter, beating market forecasts after higher volumes offset significantly lower refining margins, while impairments of US$2.77 billion dragged the statutory result.Higher oil and gas prices in the three months to June have helped European energy majors partly absorb hits from weaker refining margins so far this reporting season.British energy giant BP on Tuesday beat market views with US$2.76b (NZ$4.68b) in underlying replacement-cost profit compared with consensu...

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