business / news / / LBC
Brent crude reached close to 120 dollars a barrel at one stage and is still above the 100 dollars level.
BP expects an 'exceptional' first quarter trading result due to oil surges from the Iran conflict.
KEY POINTS
- Every $1 change in oil price affects BP’s pre-tax operating profits by $340 million.
- BP's net debt is projected to rise to $25–27 billion, up from $22.2 billion last quarter.
- Shareholders revolted against BP's board over climate transparency and rejected online-only meetings.
- BP is shifting back to core oil and gas after failed renewable efforts and takeover threats.
COMPANIES
Summarized by Newsio from LBC. How we summarize →