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2/8, 8:09 AM (Source: TeleTrader)
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BP's Q4 profit rises by 71% to $2.33 billion

BP PLC announced on Tuesday that its profit for the period attributable to shareholders observed in the fourth quarter of the fiscal year 2021 an annual increase of 71% to stand at $2.33 billion.

The company's operating cash flow surged by 169.6% in contrast with the same trimester the year before to reach $6.12 billion. On the other hand, its divestment and other proceeds went down by 45.8% to land at $2.26 billion.

"2021 shows BP doing what we said we would – performing while transforming. We've strengthened the balance sheet and grown returns," BP Chief Executive Officer (CEO) Bernard Looney commented. "We've made strong progress in our transformation to an integrated energy company: focusing and high grading our hydrocarbons business, growing in convenience and mobility and building with discipline a low carbon energy business."

Baha Breaking News (BBN) / JR