BP Plc ended the fourth quarter of 2024 with a net loss, while adjusted profit fell to a four-year low, according to the company’s press release, Report informs referring to Interfax.
BP’s net loss in October-December 2024 amounted to $1.959 billion, compared to a profit of $371 million for the same period in 2023.
Underlying replacement cost profit (equivalent to US oil companies’ net profit, but excluding one-off factors) decreased to $1.169 billion from $2.991 billion a year earlier.
For the full year 2024, BP saw a decrease in its net profit to $381 million compared to $15.239 billion the previous year.
Adjusted profit fell to $8.915 billion from $13.836 billion. The company’s capital expenditure in the fourth quarter was $3.7 billion, and for the entire past year – $16.2 billion.