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BP sneaks into black in Q3

Higher oil prices and the lack of write-downs mean BP hits profit on its preferred metric, but warns on continued challenging conditions
BP sneaks into black in Q3
  • Higher oil prices and lack of major write-offs sees return to profitability 
  • Thousands of BP workers to lose their jobs in the next two months

BP (BP.) scraped into profitability in the third quarter of the year but has warned of further difficulties ahead. The oil major has already slashed its dividend and spending this year, and in the three months to September it did not see the trading boost that had helped its earnings in the previous quarter. 

IC TIP: Sell at 203p

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