BP Profit Margin 2010-2023 | BP
Current and historical gross margin, operating margin and net profit margin for BP (BP) over the last 10 years. Profit margin can be defined as the percentage of revenue that a company retains as income after the deduction of expenses. BP net profit margin as of June 30, 2023 is 7.95%.
|BP Quarterly Profit Margins
||Oil & Gas - International Integrated
BP has come a long way since the Gulf of Mexico oil spill incident in 2010, which followed the explosion on the British energy giant's Deepwater Horizon rig. To combat its huge litigation expenses that stemmed from the disaster, the company embarked on a massive asset divestment program and relied significantly on debt capital. BP successfully settled all litigation with the relatively insignificant cash outlays remaining. BP has been banking on its strong portfolio of upstream projects. BP is also on track to capitalize on the global economy's transition to lower carbon fuels. The company has been investing in renewable energy business with a plan to ramp up capital spending for non-oil and gas business. In fact, BP has plans of becoming carbon-neutral by 2050. Its reportable segments now are: Oil Production & Operations, Gas & Low Carbon Energy, Customers & Products and Rosneft.It entered a non-binding MOU with?Eni to combine their upstream portfolios into a joint venture in Angola.