Like all major oil companies, BP posted excellent corporate profits last year thanks to soaring gas and oil prices. However, because the British company had to write off the value of its stake in the Russian oil company Rosneft, it came down to BP sinking into the red.
Thanks to the high cash inflow from operating activities, BP wants to increase the dividend and announced in London on Tuesday that it would buy back even more shares for $ 2.75 billion. In addition, the group wants to significantly expand the investments for the renovation.
Operating profit more than doubled to nearly $28 billion. Sales increased by just over half to $241 billion. The bottom line was a minus $2.5 billion in the income statement after a $7.6 billion surplus in 2021.
The loss is due to the write-down of equity and intangible assets of just over $30 billion, of which some $24 billion – as known since the beginning of the year – is attributable to the stake in Russian oil company Rosneft. (aeg/sda/awp/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
