{"id":77961,"date":"2016-07-26T11:04:33","date_gmt":"2016-07-26T11:04:33","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=77961"},"modified":"2016-07-26T11:04:33","modified_gmt":"2016-07-26T11:04:33","slug":"bp-misses-q2-profit-expectations-as-weak-refining-margins","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bp-misses-q2-profit-expectations-as-weak-refining-margins\/","title":{"rendered":"BP misses Q2 profit expectations as weak refining margins"},"content":{"rendered":"<p>British oil major BP reported lower-than-expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below $17 billion. <\/p>\n<p>BP reported a second-quarter underlying replacement cost profit, the company&#8217;s definition of net income, of $720 million, down from $1.3 billion in the same quarter last year and $120 million below an analyst consensus provided by the company. <\/p>\n<p>Its refining margins were the weakest for a second quarter in six years, BP said. <\/p>\n<p>The company said full-year capital expenditure would now come in below the $17 billion target it had previously given.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British oil major BP reported lower-than-expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below $17 billion. BP reported a second-quarter underlying replacement cost profit, the company&#8217;s definition of net income, of $720 million, down from $1.3 billion in the same quarter last year and $120 million below an analyst consensus provided by the company. Its refining margins were the weakest for a second quarter in six years, BP said. The company said full-year capital expenditure would now come in below the $17 billion target it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-77961","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/77961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=77961"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/77961\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=77961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=77961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=77961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}