London, Apr 27 (EFE) .- The oil company BP reported on Tuesday that its attributable profit stood at 4,667 million dollars (3,864 million euros) in the first quarter of 2021, compared to attributable losses of 4,365 million dollars. (3,614 million euros) in the same period of the previous year.
In a statement sent to the London Stock Exchange, BP pointed out that its profit before tax stood at 6,542 million dollars (5,416 million euros) between January and March, compared to losses of 4,524 million dollars (3,745 million euros). euros) in the same quarter of last year.
Total revenues in the first quarter reached 36,492 million dollars (30,215 million euros), an increase of 18.2% compared to the same period of the previous year, added BP, which publishes its results in dollars because it is the currency in which crude oil is listed.
BP’s purchases stood between January and March at 15,656 million dollars (12,963 million euros), 22.4% less than in the same period of 2020, indicates the company, which has highlighted its better performance due to the recovery of crude oil prices.
The company’s net debt in the first quarter stood at 33,313 million dollars (27,583 million euros), 35.1% less than in the first three months of 2020.
The oil company reported that it expects demand for black gold to recover in 2021 due to strong growth in the US and China, while vaccination plans against covid-19 advance and restrictions are gradually lifted.
Furthermore, BP is confident of a recovery in global gas demand above 2019 levels.
The duration of current market conditions will have an impact on BP’s future financial performance, it adds.
BP expects to launch a share buyback worth 500 million dollars (414 million euros) in the second quarter of the year after reducing its debt.
(c) EFE Agency