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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose Energy correspondent

BP plays down takeover speculation after lower than expected profits

British Petroleum Bernard Looney Murray Auchincloss
BP logo at a petrol and diesel filling station in north London
BP’s profits were well below analysts’ expectations of just over $4bn for the quarter. Photograph: Glyn Kirk/AFP/Getty Images

BP’s interim chief executive has downplayed speculation that the oil company could be a takeover target after reporting weaker than expected profits of $3.3bn (£2.7bn) for the third quarter of this year.

The future of BP has been cast in doubt amid a wave of mega-mergers in the US oil industry and after the shock exit of the company’s chief executive, Bernard Looney, in early September.

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