BP back in balance even if oil moves back toward $50 per barrel

1 Nov 2017   United Kingdom

British energy company BP posts strong figures for the third quarter and says to expect more production before the year is out. There are clear signs the market is back on solid ground and adjusting to historically lower, but recovering, crude oil prices, BP said. “We have made strong progress this year in adjusting to the lower oil price environment and have now brought our finances, including the full dividend, back into organic balance at an oil price just below $50 a barrel,” Chief Financial Officer Brian Gilvary said in a statement . The price for Brent crude oil, the global benchmark, was around $60 per barrel in early Tuesday trading, holding firm at its highest level in years. Gilvary said Tuesday the company would start buying back shares during the fourth quarter and the company said its $1.87 billion […]

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