Trading losses weigh on BP's profits
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Oil giant BP Plc saw its third-quarter  profits reduced by energy trading losses after its dealers got  on the wrong side of volatile markets.
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US STOCKS were knocked lower yesterday as investors worried that rising prices for oil and commodities would dent corporate profits, while drug shares fell on possible stricter scrutiny from regulators.
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European shares fell almost one percent  by midsession Monday, hurt by a profit warning from consumer  goods giant Unilever and surging energy costs, but oil  companies like BP rose with the price of crude.
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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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Falling production and refinery problems dents BP's second-quarter earnings, which dipped 1% to $6.09bn.
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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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Turnaround from record loss is not right around the corner.
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The investment firm posts a strong profit report, but shares slid.
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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 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.
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Oil giant BP Plc slashed its growth targets and raised spending plans on Tuesday, hitting its shares, as it reported better than expected, but falling, fourth quarter profits.
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LONDON -- BP PLC said Tuesday its fourth-quarter profit dropped 22 percent to a two-year low, driven down by the declining price of oil and increased safety spending after a series of high-profile mishaps including a deadly refinery blast in Texas and an oil spill in Alaska. The oil company also...
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Annual profits rise sharply at oil giant Chevron but a slump in gas prices leads to a drop in profits in the final quarter.
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The slide in crude oil prices takes a barrel in London down to little more than $40, as traders realise profits after the recent surge.
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BP Plc  expects its oil and gas production to have fallen 0.6 percent in the third quarter as losses at its Alaska operations and sales of oil fields outweighed gains from new start-ups and a benign hurricane season.
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Declining oil prices and mounting safety spending sent BP PLC's fourth-quarter profit down 22 percent to a two-year low, the oil company said Tuesday.
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Energy giant BP, reeling from fatal safety errors and a boardroom scandal, said Tuesday that third-quarter profits almost halved owing to lower output, US gas prices and refinery outages.