BP-Lower Refining Margins to Weigh on Q4 Profit
01.14.2025 By Tank Terminals - NEWS

January 14, 2025 [Reuters]- BP said on Tuesday that lower refining margins would reduce its fourth-quarter profit by $100 million to $300 million (€97.47 million to €292.40 million), also expecting oil trading to be weak.

 

Global demand for gasoline and diesel fell short of expectations, while the launch of new oil refineries in Asia and Africa led to a supply glut.

BP said achievements at its oil production and operations unit are expected to have an impact of around $200 million to $400 million compared with the previous quarter.

The British major also expects upstream production to be lower in the quarter than in the previous three months.

 

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Tepsa Netherlands nears completion of expansion, adding nine new storage tanks
02.14.2025 - NEWS
Tepsa Netherlands is set to complete its latest storage capacity expansion, adding nine new stora... Read More
MOL Group Successfully Tested the Production of HVO and SAF at Eastern European Refinery
02.14.2025 - NEWS
February 14, 2025 [Hydrocarbon Processing]- MOL Group has produced a diesel fuel containing hydro... Read More
Verso Energy Plans €1.4bn e-SAF Production Facility in Finland
02.14.2025 - NEWS
February 14, 2025 [H2 View]- French company Verso Energy has agreed to build a hydrogen processin... Read More
PBF Refineries to Operate Up to 76% of Capacity in Q1
02.14.2025 - NEWS
February 14, 2025 [Hydrocarbon Processing]- Independent U.S. refiner PBF Energy plans to operate ... Read More