BP 3Q net profit down 29 percent
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BP PLC reported a 29 percent slump in third-quarter net profit on Tuesday due to higher maintenance costs and outages at key refineries, but some analysts said the worst might be over after a run of operational problems at Europe's second-largest oil company.
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US investment bank Morgan Stanley (MWD.N: Quote, Profile, Research) on Wednesday said quarterly profit dropped by a third on sharply lower bond trading revenue
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The investment bank reported 3rd-quarter profit fell 3% to $887 million, on fallout from the subprime-mortgage crisis.
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Falling production and refinery problems dents BP's second-quarter earnings, which dipped 1% to $6.09bn.
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3M Co  said on Tuesday  fourth-quarter earnings fell as last year's results included a  gain for selling a business.
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BP Plc, the world's second largest oil  company, reported bumper third-quarter profits on Tuesday on  the back of high oil prices and stronger than expected refining  and chemicals margins.
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British oil giant BP said Tuesday that net profit dropped by 6.6 percent to 12.04 billion dollars (8.71 billion euros) in the first half, as output fell further.
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BP Plc posted a 12 percent fall in fourth-quarter replacement cost (RC) net profit to $3.895 billion on Tuesday as oil and gas production fell and costs and taxes rose but the oil giant still beat forecasts.
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High oil and gas prices and bigger profit margins in refining helped BP PLC drive up third-quarter earnings by 53 percent, the company said Tuesday.
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Exxon Mobil Corp.  reported a  slight decline in fourth-quarter earnings Thursday due to lower  natural gas prices and shrinking profits from gasoline sales.
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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 giant BP today said record fuel prices and better refining margins had helped it to bank nearly Â£1 million a day in profits. BP posted profits of 3.94 billion US
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Energy giant BP&#39;s third-quarter revenues are set to be &quot;dreadful,&quot; the company&#39;s chief executive Tony Hayward told a meeting of BP employees in Houston, the Financial Times reported Tuesday.
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BP today announced record third-quarter profits of Â£2.14 billion on the back of soaring oil prices. The worldâs second biggest oil firm said pro forma net earnings included a charge for exceptional items of Â£218 million.
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The company said third-quarter net income fell 5 percent on weakness in refining, but the decline was less than Wall Street had feared.
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Energy company BP has reported weak crude production in the third quarter following the partial shutdown of Prudhoe Bay -- the largest oil field in the United States.
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Oil giant BP Plc  posted a  lower-than-expected 12 percent drop in fourth-quarter profit on  Tuesday as production fell and taxes rose but investors were  disappointed by scaled back growth plans and rising costs.