BP’s quarterly profit hits $3.3bn as oil price rebounds

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BP’s quarterly profit hits $3.3bn as oil price rebounds
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  • 📰 The Guardian
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Recovery has allowed group to pay off debt and start its $500m share buyback scheme earlier than expected

Photograph: Alastair Grant/APPhotograph: Alastair Grant/APBP has reported its biggest quarterly profit since the Covid pandemic began, and will hand investors a $500m cash windfall, as the global oil markets recover from the crisis.a loss of $628m in the same period last yearBP’s quarterly profit figure is more than four times higher than in the last quarter of 2020, and has allowed the company to start a $500m scheme to buy back shares from its investors a year earlier than expected.

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