BP Turns Profit in 1Q 2023, Output Up 5.8%
British energy company BP reported net profit of $8.218 billion for the 1st quarter of 2023.
This is evidenced by the data of the company.
BP is positive compared to a loss of $20.384 billion in the same period in 2022.
Diluted EPS in 1Q 2023 was $0.46, significantly higher than the loss of $1.05 in 1Q 2022.
Quarterly revenue increased by 11.2% to $56.951 billion.
The company’s net debt decreased from $27.457 billion to $21.232 billion for the year.
BP increased its hydrocarbon production by 5.8%, reaching 1.36 million barrels. oil equivalent per day.
The company forecasts that the volume of hydrocarbon production in 2023 will not change compared to the previous year.
BP also expects capital expenditures of $16-18 billion in 2023.
