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BP ( (BP) ) has shared an announcement.
In its financial report for the fourth quarter and full year 2024, BP reported a series of strategic developments and financial outcomes aimed at enhancing future growth. Despite a reported loss of $1.959 billion in the fourth quarter, largely due to weaker refining margins and higher tax rates, BP focused on high-grading its portfolio, with significant steps including forming an offshore wind joint venture with JERA Co., Inc, and divesting non-core assets. The company also took final investment decisions on ten major projects and announced a dividend per ordinary share of 8 cents, alongside a $1.75 billion share buyback. These developments indicate BP’s ongoing efforts to reshape its business model, focusing on low-carbon investments and operational efficiency to drive long-term growth.
More about BP
BP p.l.c. is a multinational oil and gas company headquartered in London, England. It is one of the world’s largest energy companies, primarily involved in the exploration, production, refining, and distribution of oil and natural gas. BP is also focused on advancing low-carbon energy solutions and forming strategic partnerships to enhance its position in the energy sector.
YTD Price Performance: 15.00%
Average Trading Volume: 10,829,427
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $83.89B
Find detailed analytics on BP stock on TipRanks’ Stock Analysis page.
