LAST UPDATE 10:30
BP Plc has announced that it is launching a $ 1.5 billion equity purchase program, as well as higher-than-expected earnings for the fourth quarter of 2021.
BP plans to launch a $ 1.5 billion treasury plan before the first quarter results, and announced a dividend of 5.46 cents per share for the fourth quarter, up from the previous quarter.
The British oil and gas giant showed underlying profits of $ 4.07 billion in the fourth quarter, compared to market estimates for $ 3.93 billion.
This is an increase from $ 3.32 billion in the third quarter and from $ 115 million in the fourth quarter of 2020, when oil and gas prices were lower.
Underlying profit for the year as a whole stood at $ 12.82 billion, compared with a loss of $ 5.69 billion in 2020, and exceeded the profit of $ 9.99 billion in 2019, before the start of pandemic.
These are the highest gains in the last eight years, mainly due to gas and oil prices, as the company increased its shareholder markets and stressed that it is accelerating its plans to reduce emissions, with increased spending on low-carbon energy. .
Net income stood at $ 2.33 billion for the fourth quarter and $ 7.57 billion in 2021.
Source: Capital

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