Tuesday, November 26, 2024
BP beats first-quarter estimates on stronger commodity prices; plans to resume share buybacks- oil and gas 360

BP beats first-quarter estimates on stronger commodity prices; plans to resume share buybacks

CNBC LONDON — British energy major BP on Tuesday reported better-than-expected earnings for the first quarter, following a period of stronger commodity prices and a brighter demand outlook. It comes as oil and gas majors seek to prove to investors that they have gained a more stable footing amid the ongoing coronavirus crisis. BP’s first-quarter underlying replacement cost profit, used as a proxy