Commodities Buzz: BP Posts Its Second Highest Quarterly Profits

1 Nov 2022 , 03:49 PM

BP posted its second-highest quarterly profit in its history on Tuesday, with underlying replacement cost profit, the groups preferred measure of profitability, more than doubling from a year earlier to $8.15 billion, after another huge quarter for its upstream and trading divisions. Capital expenditure in the quarter was $3.2 billion. BP now expects capital expenditure of around $15.5 billion in 2022, if the acquisition of Archaea Energy completes before year end.Powered by Commodity Insights