BP is expected to announce slowing profits and revenues for the first quarter of 2024, as it wrestles with lower oil prices and weaker refining margins than this time last year.
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00:00Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06Here are your business headlines for this morning.
00:09BP is expected to announce slowing profits and revenues for the first quarter of 2024,
00:15as it faces lower oil prices and weaker refining margins.
00:19The oil supermajor will give its latest results on May 7th,
00:24with profit expected to come in at £5.07 billion,
00:29which is lower than the £6.79 billion at the same point in 2023.
00:35Unlike its US counterparts, BP has pledged to hit net zero emissions by 2050,
00:41in line with the government's energy transition plan.
00:45There's an update expected this week from BP,
00:48which will be of great interest to investors in the City of London.
00:52My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.