For the report in full please click here and to see the previous summary regarding BP annual report 2016 or why not take a look at the latest analysis of BP 2016.
Is this finally the turning point for BP? Are all the fees paid for Deepwater Horizon? Will the oil price remain or even increase? Will there be problems in Russia and with Rosneft?
Looking into the financial statement below then we see that revenues are down by -18% which is indeed very bad. They have very large depreciation costs and they state that they will be larger for the coming year. The earnings are negligible in comparison what one would expect a company such as BP to make but they are down at 172 million USD which is... a very, very poor result.
Conclusion: BP had another seriously bad year. I hope this was the turning year. The last time I had this thought the oil prices completely crashed so we shall see what happens this time. I will remain a grumpy shareholder.
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