2 hours agoOil prices: Oil giants have good news and bad news
Periskopi(5 years ago)
(5 years ago)Energy companies anticipate price hikes for the rest of the decade, but decrease for the long term. BP [British Petroleum] will give shareholders $1.4 billion through stock repurchasing, and has promised an increase of divisions to up to 4 per cent annually until 2025 after predicting short-term growth [...]
BP [British Petroleum] will give shareholders $1.4 billion through stock repurchasing and has promised an increase in divides by up to 4 per cent per year to 2025 after predicting short-term growth of global oil prices before a change faster than expected in small carbon energy.
Global oil prices rise has helped BP to make a huge $2.8 billion profit for three months by June, after losing $6.68 billion in the same quarter of the time last year when the pandemic broke out, reports Guardian, translates Periscopi.
The BP plans to use healthier money flows for the first half of the year to start buying 1.4 billion in stock value, and will continue to repurchasing 1 billion per quarter along with increased divisions per 4 per cent year by mid- decade.
BP also increased its divisions to 4 percent for the second half of a quarter.
The oil company has built an oil pipeline of 21 gigaves [ GW of renewable energy projects. /Periscope
