星期二 Jul 9 2024 13:05
4 最小
Weak refining margins and lower oil trading results will reduce British multinational oil and gas company BP's second-quarter profit by up to $700 million, the company announced on Tuesday, causing its shares to drop over 4% and drag London’s FTSE 100 index.
This warning has led several analysts to lower their earnings estimates and poses a challenge for CEO Murray Auchincloss as he works to rebuild investor confidence in BP's strategy.
In a similar move on Monday, U.S. oil major Exxon Mobil signalled that lower refining margins and natural gas prices would diminish its second-quarter profit.
The London-listed company attributed the lower refining margins to weak diesel prices and narrower North American heavy crude oil differentials, which impact its large refinery in Whiting, Indiana. As a result, BP expects second-quarter earnings to be between $500 million and $700 million lower than the previous quarter.
Despite a high level of refinery maintenance compared to the first quarter, BP expects an earnings boost of around $500 million as the Whiting refinery resumes operations.
BP also anticipates recording $1 billion to $2 billion in charges in the second quarter, mainly related to its review of the Gelsenkirchen refinery in Germany.
如果您今天進行了交易，請計算您的假設損益（總成本和費用）.
市場
金融工具
帳戶類型
方向
數量
金額必須等於或高於
金額必須小於
金額應為最小手數增量的倍數
USD
EUR
GBP
CAD
AUD
CHF
ZAR
MXN
JPY
值
佣金
點差
槓桿
手續費
所需保證金
隔夜利息
過去的表現並不是未來結果的可靠指標。
所有與你帳戶貨幣不相同貨幣計價的金融商品的倉位，在平倉時將被收取轉換費用。
BP shares fell 4.38% by 13:00 GMT, while rival oil multinational Shell's shares gave up a small gain to dip by 0.1%. The FTSE 100 index was down by over 0.5% on the day.
Citi analysts reduced their Q2 earnings per share estimate by 9%, while Jefferies analysts expected today’s update to result in a 20% earnings downgrade for BP.
Investors forecast BP's second-quarter underlying replacement cost profit, the company's measure of net income, to be $3.13 billion, according to LSEG data.
Earlier this year, Reuters reported that BP had imposed a hiring freeze and paused renewable projects as part of Auchincloss' plan to boost returns and cut costs by $2 billion.
In a comment to Reuters, AJ Bell investment director Russ Mould noted:
"Alongside any major strategic shifts, BP needs to demonstrate competence in the day-to-day running of the business and today's update doesn't help in that sense”.
BP, set to release its quarterly results on July 30, stated that its upstream production in the second quarter is expected to remain broadly flat compared to the previous quarter.
Oil and gas production stood at 2.38 million barrels of oil equivalent per day (boepd) in the first quarter, following field start-ups in Azerbaijan and the United States.
BP also said higher realized oil prices in the second quarter would boost profits by $100 million to $300 million.
Last week, Shell announced it would take an impairment charge of up to $2 billion related to the sale of its Singapore refinery and the halt of construction at one of Europe’s largest biofuel plants in the Netherlands.
When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.
Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.
標籤
查看全部最新
查看全部
星期二, 12 十一月 2024
1 最小
星期二, 12 十一月 2024
1 最小
星期二, 12 十一月 2024
2 最小
ZH
