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Oil giant BP surprises with better than expected earnings
Oil giant BP surprises with better than expected earnings
by  AFP

Oil giant BP, which recently pivoted away from green energy, posted Tuesday better-than-expected quarterly earnings and announced a fresh review of costs. As did oil giant Saudi Aramco, which on Tuesday announced its 10th straight drop in quarterly profits as a slump in prices hit revenues.

Oil giant BP returns to profit in second quarter
Oil giant BP returns to profit in second quarter
by  AFP

British energy group BP on Tuesday posted a net profit for the second quarter, in contrast to weaker results from energy rivals, as lower exceptional charges offset falling oil prices. - Sector woes - By contrast, French rival TotalEnergies and US groups ExxonMobil and Chevron posted heavy falls to their net profit in the second quarter.

Saudi Aramco profit drops for 10th straight quarter
Saudi Aramco profit drops for 10th straight quarter
by  AFP

Oil giant Saudi Aramco announced its 10th straight drop in quarterly profits on Tuesday as a slump in prices hit revenues, putting more pressure on the key driver of the Saudi economy. "The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical products prices," Aramco said in its quarterly report.

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