Profit drops in fourth quarter for British energy firm BP
Profit dropped significantly in the fourth quarter of 2023 for British energy giant BP Plc compared to the same period of the previous year. BP reported on Tuesday that its fourth-quarter replacement cost (RC) profit plunged to $1.53 billion from last year's $11.87 billion. Underlying RC profit was $2.99 billion, down from $4.81 billion a year ago. Underlying RC profit per ordinary share was 17.77 cents, compared to 26.44 cents in the prior year. Underlying RC profit per ADS was $1.07, compared