British BP Net Profit Halves In 2019

Net profit of the British oil and gas giant BP Plc attributable to shareholders, according to the results of 2019, decreased by 2.3 times compared to the previous year, to $ 4.026 billion, follows from the company’s statements.

Diluted earnings per share were $ 0.2 versus $ 0.47 a year earlier. Revenues decreased by 7%, to 278.397 billion dollars.

In the fourth quarter, the company’s net profit attributable to shareholders fell 40 times year-on-year to $ 19 million. Diluted earnings per share were $ 0.009 versus $ 0.038 a year earlier. Revenue decreased by 6% – to $71.109 billion.

BP production, taking into account the Russian Rosneft share, in 2019 amounted to 3.781 million barrels of oil equivalent per day, which is 2.7% higher than the previous year. At the same time, the volume of production, excluding Rosneft’s share, grew by 3.8%, to 2.637 million barrels of oil equivalent per day.

According to the company’s preliminary assessment, BP’s profit from participating in Rosneft for the year totaled $ 2.419 billion, which is 4.4% higher than a year ago. According to the results of the fourth quarter, profit from the Rosneft share amounted to $ 412 million, which is 4.4% lower than a year ago.

BP is a British company, one of the six largest oil and gas corporations in the world. It was founded in 1909.

source: bloomberg.com

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