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home / news releases / EQNR - BP made $500M windfall from gas trading in Q3 - Reuters

EQNR - BP made $500M windfall from gas trading in Q3 - Reuters

Equinor ASA
BP's trading team made at least $500M in Q3, Reuters reports, as the company benefited from natural gas prices that have spiked higher in Europe and parts of Asia. The gas trading results were disclosed at an internal call with staff earlier this month, according to the report. BP has a smaller gas trading book than European rivals such as Royal Dutch Shell (RDS.A, RDS.B) and Equinor (NYSE:EQNR), which could post even higher profits. BP's trading arm earned nearly $4B in 2020 in profits, nearly equaling 2019's record trading profit. Seeking Alpha contributor Daniel Thurecht says BP has "significantly lagged oil prices and now trades at a massive discount."

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BP made $500M windfall from gas trading in Q3 - Reuters
Stock Information
Company Name: Equinor ASA
Stock Symbol: EQNR
Market: NYSE
Website: equinor.com
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