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BP profit hit by weaker refining margins
BP says lower refining margins will hit profits by up to $600 million
BP said it expects the global slump in refining margins will see it take a $400 million to $600 million hit to its profits after Shell made a similar warning this week
BP says weak refining margins to dent Q3 profit as fuel demand stalls
BP said a drop in refining margins would reduce its third-quarter profit by $400 million to $600 million from the previous three months.
BP warns of weaker refining margins, higher debt in Q3 amid demand slowdown
Shell ( SHEL) and Exxon Mobil ( XOM) have also warned of lower profitability amid a slide in oil product trading and oil prices. Year-to-date, NYSE-listed shares of BP have fallen around 7%, while shares of Shell and Exxon have gained nearly 4.4% and 20%, respectively.
Bloomberg L.P.
2d
BP Sees Net Debt Rising in Third Quarter Amid Weak Refining
BP
Plc expects its net debt to have risen in the third quarter due to lower
refining
margins
and changes to the timing ...
AOL
2d
BP Warns Of Weaker Refining Margins, Higher Debt: Details
However, weaker realized
refining
margins
are expected to have a negative impact of $0.4 billion to $0.6 billion, and oil ...
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