BP sees little chance of demand returning on the oil market
British Petroleum (BP), the second largest petroleum company in Europe has shown a profit down 53% in the second quarter of this year because of low prices of energy products, Bloomberg reported.
Thus, the company achieved a profit of 4.39 billion dollars from 9.36 billion dollars, as recorded in the same period last year.
Per share, profit was 23.16 cents, from 49.23 cents. Refining margins have fallen, also by 40%, from 8.25 dollars per barrel at 4.98 dollars per barrel.
Meanwhile, company officials say that “are little proves” that demand will recover. Petroleum stocks U.S. markets had an average of 59.79 dollars per barrel in the second quarter, with 52% lower than the same period last year.
In this week are expected financial results of other large oil companies in the world such as Royal Dutch Shell, Exxon Mobil, Total and Repsol.
