Oil giant BP has revealed a dip in profits for the first half of 2024 amid lower profitability in its refining business. The FTSE 100 company reported underlying replacement cost profit of 5.48 billion US dollars (£4.26 billion) for the six months to the end of June, down from 7.55 billion US dollars (£5.88 billion) a year earlier.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.
00:05Here are your business headlines for this morning.
00:08The oil giant BP has revealed a dip in profits for the first half of 2024 amid lower profitability in its refining business.
00:18The FTSE 100 company reported underlying replacement cost profit of US$5.48 billion for six months to end of June, down from US$7.55 billion a year earlier.
00:31Nevertheless, it came after a profit of US$2.76 billion in the second quarter, which surpassed analyst expectations.
00:41So an update this morning from BP, one of the biggest names in business, suffered a dip in profits in the first half of 2024.
00:49My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.