BP profits weaken despite record high oil prices
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Energy giant BP has said that net profits dipped in 2006, reflecting a decline in production and refining margins, despite record peaks for crude oil prices in the middle of the year.
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Oil prices eased to &#36;45 a barrel on Tuesday, extending a profit-taking set-back despite a looming cold spell in the eastern United States and global supply outages.
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Oil fell more than a dollar on Tuesday, as profit-taking pulled the market down from record highs set in response to a Mexican supply shut-down and a weak dollar.
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World oil prices fell nearly $2 a barrel on Friday as dealers took profits from a recent rally, but the market remained on edge as powerful Hurricane Ivan thrashed through the Caribbean on a track toward the energy-rich Gulf of Mexico
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After months of soaring crude oil prices, BP, the world&#39;s second-biggest publicly traded oil company, reported a 43 percent rise in third-quarter profit on Tuesday and forecast
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US oil giant Exxon Mobil sees its quarterly profits fall 4.3% after it is hit by falling petrol and natural gas prices.
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Anglo-Dutch energy giant Royal Dutch Shell said Thursday that third-quarter net profit fell eight percent but still reached almost 6.4 billion dollars (4.5 billion euros) on the back of record high oil prices.
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Oil major BP beat forecasts with a 23  percent rise in replacement cost net profit to a record $6.11  billion on Tuesday, as high oil prices and strong refining  margins more than made up for a drop in output.
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Oil prices continued falling on Thursday after an unexpectedly large rise in U.S. crude inventories spurred profit-taking from record highs.
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BP reported a 45 percent fall in  third-quarter replacement-cost profit to $3.867 billion due to  lower oil and gas production, problems at its refining division  and fewer asset sales which had flattered the year-earlier  result.
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Oil prices continued falling on  Thursday after an unexpectedly large rise in U.S. crude  inventories spurred profit-taking from record highs.
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Oil prices slid on Monday, drifting  toward $90 a barrel as a weak close on Wall Street spurred some  profit taking, although expectations that OPEC will maintain  its production curbs this week limited losses.
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The oil giant BP reports a 22% fall in annual profits at the end of a tough year for the company.
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BP Plc, the world's second largest oil  company, reported bumper third-quarter earnings on Tuesday on  the back of high oil prices.
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Oil eased below $99 a barrel on Friday as investors took profits from a record rally that swept prices above $100 a barrel and heightened concern over the world's economic wellbeing.
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Chevron Corp. , the No. 2 U.S. oil company, said on Friday its fourth-quarter profit fell, pulled down by weaker natural gas prices and refining margins.
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BP has said that net profits retreated in 2006 -- reflecting a decline in production and refining margins -- and revised downwards its output for next year.