BP announced Tuesday to reconnect with the profits in the second quarter, a dynamic which contrasts with that of the other oil majors and is partly explained by a decline in its exceptional charges compared to last year.
The net profit of the British hydrocarbon giant reached $ 1.63 billion (1.31 billion francs) over the quarter, against a loss of 129 million in the second quarter of 2024, he wrote in a press release, a performance qualified by its director general Murray Auchincloss as “excellent quarter”, “both in terms of operational and strategic”.
However, these results are partly explained by the more moderate effect in the quarter of exceptional charges, which had inflated last year due to the volatility of liquefied natural gas prices (LNG), according to the company.
The adjusted result (excluding exceptional elements), intended to better reflect real performance, is also down almost 15% compared to last year.
BP’s dynamics contrast with that other oil majors, such as Totalnergies and the American Exxonmobil and Chevron, who have announced in recent days net profits in strong decline.
Only the British Shell had been able to have a very slightly increased profit in the second quarter.
Fall in prices and demand
The oil giants suffer from the fall in gas and petroleum prices, but also the slowdown in demand in an unfavorable context, between trade war, climbing tensions in the Middle East and the reopening of valves decided by OPEC+.
BP, which has just announced the upcoming appointment of the Irishman Albert Manifold at the head of his board of directors, has greatly disappointed the markets in recent years, fueling regular repurchase rumors – still denied – in particular by his British rival Shell.
The group gave up in February a climate strategy that was once ambitious to refocus on oil and gas, to the chagrin of environmental defense organizations.
The month preceded the abolition of several thousand jobs in the context of a multi -year cost reduction program.
Its general manager Murray Auchincloss said on Tuesday that he plans to “carry out an in -depth exam” of the activity portfolio, but also “a new cost exam”.
BP’s action earned approximately 1.4% on the London Stock Exchange around 7:30 am GMT.
This article was published automatically. Sources: ATS / AWP / AFP