BP loses USD 2.5 billion in third quarter

Like the rest of the industry, the British oil company has benefited from higher oil prices, but expensive natural gas means that the group, due to a fiscal technicality, is obliged to pay around USD 6.1 billion in pre-tax, thus sending the bottom-line result into red.

Photo: Toby Melville/REUTERS / X90004

While competitors on all sides of the oil sector have presented record-high results for the third quarter of 2021, things have gone differently for British BP.

Of course, drawing such a conclusion depends on how one reads the accounts. Looking solely at the bottom line, BP's third quarter report shows the group losing USD 2.544 billion during the quarter.

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