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The Independent UK
The Independent UK
Business
Alex Daniel

BP and Shell to reveal lower profits amid decline in oil refining margins

British Petroleum Shell Oil Wael Sawan
BP expects a slump in refining margins to take a chunk out of its third-quarter profit (Ian West/PA) - (PA Wire)

BP and Shell are next week expected to post lower third-quarter profits than in 2023 against a backdrop of weak oil prices and faltering demand.

The energy giants warned of a slump in profit margins at their oil refining businesses – major parts of the firms’ overall income streams – earlier this month.

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