BP drops sharply in profit in the first quarter associated with weak oil prices

English oil giant Bp On Tuesday, the last strategic reset and posted a net profit in the first quarter expected after a decrease in raw prices.

This beleaguered Oil and Gas Major, the main replacement profit used for net profit of $ 1.38 billion for the first three months of the year. According to the LSEG compiled consensus, analytical expectations expected $ 1.6 billion.

BP’s net profit hit $ 2.7 billion a year ago and $ 1.2 billion In three months of 2024.

The results, energy bases, after announcement, activist investors are facing fresh pressure in less than two months Strategic reset.

To try to rebuild the investor, BP, BP’s restoration and increase annual expenditures for the main work of oil and gas.

BP CEO Murray Auchincloss CNBC’s “saidSquawk Box Europe“Tuesday,” from a big start “in surrender to the firm’s strategic reset.

“There was a great operation quarter. We had the highest level of operational efficiency in history.

During the first quarter, BP announced a dividend for a share of 8 kopecks in an ordinary share and a $ 750 million share.

In January-March, the net debt rose to $ 26.97 billion, and in the end of the fourth quarter and over $ 22.99 billion. BP warned previously in the first quarter, compared to the three months of last year, the first quarter has warned the low debt.

BP’s shares receive 2.8%, London time, at 1:35, one of the previous losses.

BP’s green strategy U-turn, activist investor does not seem to be enough for Elliott Management Likes went to the public Last week, in the company listed in London with more than 5% steps.

Disclosure, according to LSEG, BlowRock is the second largest shareholder of the US Hedge Foundation after BlowRock, the world’s largest active manager BlowRock.

Elliott, for the first time, retrieved a position of returning to the oil and gas company in the oil and gas company, returned the expectations that his participation could put pressure on BP to transfer BP to oil and gas enterprises.

BP’s Auchincloss, when the company asks for pressure from Elliott’s Likes, BP refused to comment on the interaction with investors when he asked if he was under pressure from February.

It should be noted that BP had a shareholder in itself Annual General Meeting This month ago. Almost a quarter of investors (24.3%) voting Against the re-election Outgoing chair Helge Lunda symbolic result reflecting the feeling of deep frustration among the company’s shareholders.

The founder of the Dutch activist CNBC Mark, Mark, said that the joint-stock revolt will be looking for a new chair called “Idlimati authorized” and “short-term activists will not respond to short-term activists”.

Lund is expected to descend from the role of next year.

Compared to BP’s Industrial Peers Exxon Mobile, Bar and Bark He threw the energy of the energy to the focus as a candidate for the basic. Energy analysts, but are the most common reference will rise on occasion.

BP’s Auchincloss’s company Auchincloss has not speculated whether the company’s capture target is the target, but the British government of the oil confirmed that the British government did not want any kind of protection.

“I will say that we have a strong, independent company and sector.

The price of oil fell by the fears of demand in recent months. International price Brent Raw futures with June Table, decreased more than 1% of $ 65.19 per barrel on Tuesday morning. This is about $ 84 per barrel a year ago.

Weak raw prices threatened the firm’s reset plans, “It’s not really. Thus, there is a balance of products we have earned for us. Thus, there are oil, natural gas and elegant products.”

– CNBC’s Rhudandra Iordche contributed to this report.