BP (NYSE: BP) reported on Tuesday profits above analyst expectations and committed to additional share repurchases by early 2022 as the rally in oil and gas prices raised cash flow and underlying profit in the third quarter. BP booked an underlying replacement cost profit – the metric closest to net profit – of $3.
3 billion for Q3, up from $2.8 billion for the previous quarter, as a result of higher oil and gas prices and refining margins, and strong trading results. Analyst estimates pointed to a profit of $3.1 billion for…BP Expands Share Buybacks As Oil Price Rally Boosts Profit
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