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City analysts have forecast underlying profits to double to $2.7 billion.
BP is forecast to double Q1 profits to $2.7 billion due to exceptional oil trading gains.
KEY POINTS
- BP's debt ratio could fall from 47% to 37% this year, aided by recent energy price windfalls.
- Meg O’Neill, BP's new CEO and first external hire, is expected to accelerate the oil and gas pivot.
- BP may reveal a structural overhaul, splitting into upstream and downstream divisions and away from renewables.
- UBS notes BP’s cost intensity is the highest among peers, at 23% of revenue, and may prompt new savings targets.
COMPANIES
Summarized by Newsio from The Sunday Times. How we summarize →