BP posted a modest $86m (£66m) profit in the third quarter, beating analyst expectations, thanks to higher oil prices and a recovery in fuel sales. The oil giant reported a $86m underlying replacement cost profit, its definition of net income, after analysts had predicted the FTSE 100 company would swing $120m into the red. The result follows a record $6.7bn loss in the previous quarter. This time last year, BP made a profit of almost $2.3bn.
Telegraph 27th Oct 2020 read more »
Sir Jim Ratcliffe’s Ineos takes £63m fracking hit. Billionaire’s dream of a shale revolution lies in tatters after the Government takes action to ban practice on safety concerns.
Telegraph 26th Oct 2020 read more »