Top

Volkswagen Likely to Wind Down Its Xinjiang Investments over Forced Labor Concerns

FTC Announces Largest-Ever Civil Penalty for Made in USA Labeling Fraud

Treasury Secretary Yellen Outlines U.S.-China Relationship Objectives for 2024

90% of Energy Companies Experienced 3rd Party Breach

USTR Tai to AAM: U.S. Trade Policy Should Reinforce Our Ability to Make Things in America...

image credit: Unsplash

BP Profits Are Cut in Half to $2.6 Billion

August 1, 2023

Via: Transport Topics

Category:

Energy giant BP said Aug. 1 that it earned nearly $2.6 billion in the second quarter, almost half what it posted in the first three months of the year as oil and natural gas prices that surged after Russia’s invasion of Ukraine have fallen.

The company’s underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, was down nearly 70% from the April-to-June period a year ago, when London-based BP brought in $8.45 billion.

Read More on Transport Topics