AlwaysFree: Surging Gas Prices Boost BP Trading Unit Earnings: Sources

BP’s trading unit earned at least $0.5 billion in the third quarter of 2021, thanks to soaring global gas prices, Reuters reported, citing sources with direct knowledge of the matter. The figures were disclosed at an internal meeting with staff earlier this month, the sources said. Energy companies typically do not publish earnings from their trading businesses in their quarterly earnings. However, BP trading results can indicate that rivals Shell and Equinor, with bigger LNG and gas trading books, will likely post even higher profits. These energy majors are due to disclosing their third-quarter earnings this and next week.