- Bloomberg
BP Maintains Share Buybacks as Cash Flow Drops, Debt Rises
(Bloomberg) -- BP Plc maintained the pace of its share buybacks even as first-quarter profit and cash flow fell by more than expected and net-debt increased. Most Read from BloombergIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortJack Dorsey Leaves Bluesky Board, Calls X ‘Freedom Technology’At $2 Million Per Minute, Treasuries Mint Cash Like Never BeforeEx-Trump Controller Says Cohen Repaid From Personal AccountS&P 500 Extends Gains in Final Minutes of Trading: Markets WrapThe result ma
- Reuters
UPDATE 3-BP profits drop to $2.7 bln, refinery outage offsets higher output
BP reported on Tuesday first-quarter earnings of $2.7 billion, down 40% from a year earlier and missing forecasts due to lower energy prices and a U.S. refinery outage, even as oil and gas production increased. The earnings fell 5% short of analysts' forecasts, denting CEO Murray Auchincloss' efforts to steady the company following a bruising period that followed the abrupt resignation of CEO Bernard Looney last September for failing to fully disclose details of past personal relationships with colleagues.
- Barrons.com
BP Earnings Are on Tap. It’s Betting Big on the Gulf of Mexico.
The company is back to exploring for new oil wells, and some of its most aggressive exploration projects are in the Gulf.
