BP Beats Q1 Profit Forecast With “Exceptional” Oil And Gas Trading ...Middle East

Despite falling oil and gas prices, BP on Tuesday reported $5 billion in profits for the first quarter, higher than the earnings for the fourth quarter of 2022 and above consensus estimates, thanks to what it described as “exceptional” gas trading and “a very strong oil trading result.” Underlying replacement cost profit – BP’s metric closest to net profit – was $4.963 billion for the first quarter of 2023, up from $4.807 billion for the fourth quarter of 2022, but down from the $6.245 billion for the first…

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