BP posts $5B quarterly profit on strong oil and gas trading

[Omaha Steve]

Source: AP

an hour ago

LONDON (AP) — British energy giant BP posted a strong quarterly profit on Tuesday even as oil and natural prices that soared after Russia’s war in Ukraine last year have eased off.

London-based BP said it earned $5 billion in underlying replacement cost profit in the first three months of the year, up from $4.8 billion in the previous quarter. The figure excludes one-time items and fluctuations in the value of inventories.

The company said the earnings report “reflects an exceptional gas marketing and trading result” and a “very strong oil trading result.”

“This has been a quarter of strong performance and strategic delivery,” CEO Bernard Looney said in a statement.




Read more: https://apnews.com/article/bp-profits-energy-prices-oil-gas-d05f21eedf03f6db446bc72114835b12

[marble falls]

1. How vulture capitalism gets done.

[Dustlawyer]

2. The end of this week marks 33 years practicing law.

Almost half of my career was spent litigating against BP. A sorrier, greedier company you won’t find. BP even started the overthrow of the Democratic government of Iran in the early 1950’s and ended up with what Iran is today.

F.U. B.P.

[Botany]

3. And they and other oil companies are price gouging big time and are driving inflation which ...

.... the GOP/Media likes to blame on Joe Biden's C-19 recovery package. And they and the other oil
companies are purposefully pushing the inflation so as to hurt Biden because they want to keep the
fossil fuel gravy train going on and on. And so to fight this inflation the Fed. raises interest rates which
in the end will make the rich richer because the smart money and the smart money mangers put money
into bonds that will have a higher rate of return because the government will have to pay more to get
the needed capital.

"Overthrow of the Democratic government of Iran." Like Mohammad Mossadegh who had the crazy idea that
the oil under Iran's soil belong to Iran? Shell Oil, B.P., the CIA, and the Dulles boys put a stop to that.

&t=4s

[Marthe48]

4. And people starving in the street

Everywhere, every day. I guess the people who get filthy rich off a filthy product need the filthy money to buy filthy things to make them foget how lowdown dirty they are.

[Magoo48]

5. Morbidly rich oil Huts celebrate their disintegrating wealth as if it will last forever.

With Big Oil behind the wheel, the clown car of the apocalypse races ever deeper into the yawning maw of climate catastrophe dystopia.

5 billion, yahooooooooo.

[IronLionZion]

6. Yeah but Biden is making prices so high at the pump

because he's mean like that.

[republianmushroom]

7. A little greed ?

[PSPS]

8. These increases in corporate profits are what is causing inflation, not higher wages.

[crickets]

9. +1000000