Bumper earnings are anticipated for BP's fourth-quarter results tomorrow on the back of high oil prices when investors will be looking to share in the bonanza through more share buybacks.
Analysts' consensus forecast for profit in the quarter ending December is $5.6billion (£3.2billion), up from $4.76billion a year earlier. Fourth quarter earnings will have been held back by charges of $1.3billion relating to its UK gas contracts and $400m from the restructuring of its European gas business.
Full-year cost of supply profits is expected to come in at $21billion to $22billion just behind Shell's $22.9billion last week which is a record for a UK listed company.
Both oil companies have undertaken large share buybacks in the last few years but BP's have been more generous despite lower earnings. Last year's figure is expected to come in at $12billion.
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Critic’s corner
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
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SHELL PROPPED UP APARTHEID
ARTICLE: U.S. unions urge boycott of Shell to fight apartheid: 19 Jan 1986
ARTICLE: Shell, South Africa and Apartheid: 16 Oct 2012
ARTICLE: Shell propped up racist apartheid regime in South Africa: 24 Nov 2012
ARTICLE: The Neptune Strategy:Shell, propped up Apartheid in South Africa: 26 Nov 2012
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