BP Stock News

Poland's biggest bank PKO BP said on Thursday second-quarter net profit quadrupled year-on-year, beating market expectations, mainly fuelled by a strong uptick in core business performance, as well as a drop in legal provisions for Swiss franc mortgage loans.

HOUSTON--(BUSINESS WIRE)-- #FPU--bp has selected Audubon for engineering the topside of its Kaskida FPU in the Gulf of Mexico.

BP's deal to develop Iraq's Kirkuk oil and gas fields will be based on a profit-sharing model and a final agreement is expected to be reached by the end of this year, Iraqi oil ministry officials said on Tuesday.

Poland's BNP Paribas BP posted a bigger than expected 36% jump in second-quarter net profit on Tuesday, supported by a one-off positive impact from deferred tax, and lower legal provisions related to Swiss franc mortgages.

UPI experienced a 2.30% decline, closing at 160.97 points, while the S&P 500 remained stable. Global market downturn influenced by Japan's sharp decline, with some stocks like Capital Product Partners and Golar LNG showing resilience. New Fortress Energy suffered the most, but mostly due to internal challenges.

BP saw a broker downgrade on Thursday after analysts said its stock buyback is less sustainable than rival integrated oil companies.

There's trouble brewing in the oil patch. Prices for crude oil in America are below $75 a barrel and at their lowest level in six months amid growing fears of a recession in the U.S. economy.

24/7 Wall St. Insights With inflation starting to be tamed, dividend stocks will be in big demand as rates drop.