- Reported loss for the quarter was $20.4 billion, compared with a profit of $2.3 billion for the fourth quarter 2021.
- Underlying replacement cost profit* was $6.2 billion, compared with $4.1 billion for the previous quarter. This was driven by exceptional oil and gas trading, higher oil realizations and a stronger refining result, partly offset by the absence of Rosneft from the first quarter underlying result.
- Operating cash flow* of $8.2 billion includes a working capital* build of $4.1 billion (after adjusting for inventory holding gains* and fair value accounting effects*).
- Net debt fell to $27.5 billion at the end of the first quarter.
- For the first quarter bp has announced a dividend of 5.46 cents per ordinary share payable in June 2022.
- During the first quarter bp generated surplus cash flow* of $4.1 billion and intends to execute a $2.5 billion share buyback prior to announcing its second quarter results.
[https://www.bp.com/en/global/corporate/investors/results-and-presentations/quarterly-results-and-webcast.html]
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