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BP is the operator at the Toledo, Ohio refinery where two workers died in an accident on Wednesday.
Greame Robertson/Getty Images
Shares of oil giant
BP
(ticker: BP) retraced some of their losses from Wednesday after a fire at a refinery operated by the company killed two people.
BP American depositary receipts were up 1.8% at £31.07 in premarket trading Thursday. They closed down 1.5% at $30.52 the day before.
The refinery in Ohio was a joint venture with
Cenovus Energy
(CVE). BP agreed to sell its 50% stake in the plant to its partner last month, but the sale hasn’t yet completed and BP remains the operator of the site.
“Our thoughts are with the families and loved ones of these two individuals,” BP said in a statement. “All other staff is accounted for and our employee assistance team is on site in Toledo to support our employees impacted by this tragedy.”
While the implications of the accident remain unclear, it is a setback for the company.
In 2010, an explosion at BP’s Deepwater Horizon oil rig killed several workers and caused a spill that ultimately cost BP about $60 billion.
Higher energy prices have boosted shares about 15% this year.
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Source: https://www.barrons.com/articles/bp-stock-regains-ground-fire-ohio-51663841965?siteid=yhoof2&yptr=yahoo