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BP net profit drops 70% in first quarter to $687 million

Published April 29, 2025 Updated April 29, 2025 12:10pm
Photo: Reuters
Photo: Reuters
By

LONDON: British oil and gas giant BP said on Tuesday net profit plunged in the first quarter due to weaker gas sales and lower refining margins.

BP cuts renewable investment and boosts oil and gas in strategy shift

Profit after tax declined to $687 million from $2.3 billion in the first three months of 2024, BP said in a statement.

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