31 Oct, 23

BP’s Green Transition Plan Faces Investor Skepticism

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BP missed analyst expectations in its third-quarter earnings, with a 60 percent year-on-year decline in profits for the three months to October, blaming the underwhelming performance on poor gas trading. European inventories are well-stocked ahead of winter, slashing the earnings of commodities traders and making fossil fuel trading less lucrative. This has fuelled underwhelming trading across the industry, and BP‘s downturn in earnings follows sharp third-quarter declines posted over the past week from rivals including Chevron, Equinor,…

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