BAKU, Azerbaijan, Nov.2
By Leman Zeynalova – Trend:
bp got back to profit from joint ventures in the third quarter of 2021 with $ 197 million after interest rate and tax, as compared to a loss of 57 million in the second quarter, Trend reports with reference to the company.
The company also saw a year-on-year increase in earnings from joint ventures, as this figure stood at $73 million in the third quarter of 2020.
In the first nine months of 2021, bp earned $300 million from joint ventures, as compared to $516 million worth of loss in the same period in 2020.
The earnings from associates grew from $856 million in Q2 2021 to $1.103 billion in Q3 2021. The company faced $332 million of loss in Q3 2020.
In the first nine months of 2021, bp earned $2.560 billion from associates, as compared to $676 million worth of loss in the same period in 2020.
At the end of the third quarter, net debt was $32.0 billion, compared to $32.7 billion at the end of the second quarter 2021 and $40.4 billion at the end of the third quarter 2020. Operating cash flow was $6.0 billion for the third quarter, and $17.5 billion for the nine months, compared with $5.2 billion and $9.9 billion for the same periods of 2020. Third quarter and nine months 2021 includes $0.1 billion and $0.8 billion respectively of cash flow relating to severance costs associated with the reinvent program.
Loss attributable to bp shareholders in the third quarter was $2,544 million with a profit of $5,239 million for the nine months compared with losses of $450 million and $21,663 million in the third quarter and nine months of 2020 respectively.
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