BP Profits Plunge as New Leadership Navigates Energy Transition
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BP reported weaker than expected Q3 profits of $3.3bn, down from $8.2bn a year ago, amid lower oil and gas prices.
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Profits were below analyst expectations of over $4bn and mark BP's first results since the CEO exited.
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BP remains committed to its strategy and expects to grow earnings this decade per interim CEO.
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BP invested 9x more in fossil fuels than renewables the past 2 years, per a thinktank's analysis.
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Greenpeace and others criticize BP for prioritizing profits over climate action as big oil companies drive climate change.