Posted 10/31/2023, 9:57:29 PM
BP Misses Q3 Profit Forecasts Due to Weak Gas Trading; Shares Fall Over 4%
- BP's Q3 profit of $3.3B missed forecasts due to weak gas trading results; shares fell over 4%
- Weak gas trading offset strong oil trading, refining margins, and higher production
- BP wrote down $540M on its Empire Wind and Beacon Wind projects off New York
- BP maintained its dividend at 7.27 cents per share and extended its $1.5B share buyback
- BP expects lower industry refining margins in Q4 compared to Q3
/cloudfront-us-east-2.images.arcpublishing.com/reuters/63HUBOMHOBMEZMIE6VP755Y3J4.jpg)