This quarter, former CEO Bob Dudley left the oil major over failure to disclose relationships with colleagues this quarter.
The BP logo is displayed outside a petrol station near Warmister, on August 15, 2022 in Wiltshire, England.on Tuesday reported a steep year-on-year fall in profits, missing analyst estimates.
The British energy giant logged underlying replacement cost profit, used as a proxy for net profit, of $3.293 billion in the third quarter. Last year, it reported $8.15 billion over the same period. Analysts had expected profit to come in at $4.059 billion, according to a collection of estimates by LSEG.It also announced a further $1.5 billion share buyback., following weaker fossil fuel prices that have since risen sharply.after admitting he had not been "fully transparent" in his disclosures about past relationships with colleagues, before taking the top job.The company's U.S. boss, Dave Lawler,Leadership challenges have not dented BP's share price, which gained 15.
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