British oil and gas company BP plc stated on Tuesday that its underlying replacement cost profit, used as a measure of net profit, came in at $8.2 billion in the third quarter of the fiscal year, APA reports citing Teletrader.
The company's reported loss attributable to shareholders observed for the corresponding period was $2.2 billion, coming down from the recorded profit in the previous quarter, with the diluted loss per share amounting to $0.69. The net debt was reduced to $22 billion at the end of the third quarter while announcing a $2.5 billion share buyback before the fourth quarter.
"This quarter’s results reflect us continuing to perform while transforming. We remain focused on helping to solve the energy trilemma – secure, affordable, and lower carbon energy. We are providing the oil and gas the world needs today – while at the same time - investing to accelerate the energy transition," the company's CEO Bernard Looney commented upon the release of the quarterly results.
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