BP annual profits fall by a fifth
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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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Some top executives at British oil company BP  are worried that cost cutting at a Texas refinery might have contributed to the plant's poor state of safety and equipment, according to an internal BP review, The Wall Street Journal reported on its Web site on Tuesday.
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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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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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Anglo-Dutch energy giant Royal Dutch Shell said Thursday its third-quarter net profit fell eight percent but still reached almost 6.4 billion dollars (4.5 billion euros) on the back of record oil 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 posted a 1 percent drop in quarterly post-tax profit to $6.087 billion as production fell and refinery outages prevented the oil giant from taking full advantage of near-record refining margins.
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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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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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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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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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British oil giant BP announced a fall in net profit in the three months to June following 24 months of continuously falling production despite strong world demand for energy.
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Profits fall at nuclear firm British Energy on higher costs, such as those related to environmental issues.
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British telecoms operator BT Group said Thursday that 5,000 jobs would be lost this year, as it announced that net profit slid by nearly a third during its second quarter.
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OIL prices eased further below $50 a barrel yesterday, extending a week-long bout of profit-taking that has cut more than $5 from record-high crude ahead of the US presidential election.
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BP Plc  slashed its short and medium term growth targets on Tuesday, hitting the oil giant's shares, as it reported better than expected, but falling, fourth quarter profits.
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U.S. oil and gas producer XTO Energy Inc. on Tuesday said fourth-quarter profit declined 5 percent as lower natural gas prices weighed on results.