Bp Stock News

The British oil-and-gas giant wants annual earnings before interest, taxes, depreciation and amortization from hydrocarbons to remain at around $33 billion until 2025, and then maintain it in a $30 billion-$35 billion range until 2030

2/2 © Reuters. FILE PHOTO: A man is seen at a Jio-bp electric vehicle (EV) charging point, an Indian fuel and mobility joint venture between Reliance Industries (RIL) and British Petroleum (BP), in Navi Mumbai, India, October 26, 2021 REUTERS/Francis Mascarenhas 2/2 By Aditi Shah NEW DELHI (Reuters) – India’s Maharashtra state will offer companies …

PA looks at the increasing calls for a windfall tax and what the oil giant has done with all the extra profits.

BP posts bumper profit and new round of buybacks, Frontier’s $6.6 billion deal for Spirit creates ultra-low-fare airline, mask mandates are ending in previous Covid-19 hot spots, and other news to start your day.

News that Britain''s biggest oil companies made $32 billion in profit last year is stoking calls for the UK government to impose a temporary tax on their earnings to help households pay soaring energy bills.

BP has posted $12.8 billion (£9.5bn) annual profit after benefitting from the surge in gas prices which has triggered an energy crisis in the UK.

BPs rebound to an annual profit of $12.85-billion after a large loss in 2020, is likely to add to calls in Britain for higher taxes on energy producers to help reduce consumers energy bills

The company has cashed in on the surge in wholesale oil and gas prices that has sent household bills soaring.

BP saw its profit surge in the last quarter of 2021 as a result of higher oil and gas prices, refining margins, and stronger trading results. The post BP sees profit surge while ‘accelerating greening’ appeared first on Offshore Energy .

Bumper profits from oil giant BP have helped lift European stocks.

Bumper profits from oil giant BP have helped lift European stocks.

Futures Tread Water Amid Peripheral Bond Rout As Key CPI Print Looms U.S. index futures swung around in a volatile, illiquid overnight session, and at last check were flat despite traders'' concerns about growing fireworks in the European bond market where Italian and Greek bond plunged amid fears of ECB rate hikes as soon as October, while waiting for Thursday''s key CPI data and further corporate earnings. S&P 500 futures were up 2 points or 0.05%, Nasdaq futures were up 26 points or 0.18% and Dow futures were up fractionally as markets now expect more than five quarter-point Federal Reserve interest-rate hikes in 2022 to keep inflation on check following a strong U.S. jobs report. Treasury yields and the dollar were stable, while the euro snapped a six-day strengthening run. WTI crude fell after last week''s rally. Chinese shares climbed on their return from a weeklong holiday. Bitcoin extended its recovery surge. In the premarket, Peloton was in focus, soaring 27% on reports it''s evaluating interest from potential suitors including Amazon and Nike.

Increased energy bills, even with the new support from the Government, will push four million households into fuel poverty. The post Time for windfall tax? BP expected to announce 30-fold increase in profits appeared first on The London Economic .