BP profits weaken despite record high oil prices
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British 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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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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US OIL prices fell further yesterday on continued profit-taking as producer-group OPEC promised production increases in the coming months.
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U.S. integrated oil company Marathon Oil Corp.  on Tuesday reported a fall in quarterly profit, as hurricanes and disruptions in oil and gas production outweighed record prices for crude oil.
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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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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.
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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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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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Oil spills and safety lapses in the United States have overshadowed record profits.
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BP Plc, the world's second largest oil  company, beat analysts' expectations to report bumper third  quarter earnings on Tuesday on the back of high oil prices and  strong refining and chemicals margins.
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High oil and gas prices and bigger profit margins in refining helped the British energy giant BP PLC nearly double its third-quarter earnings, the company said Tuesday.
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BP Plc, the world's second largest oil  company, reported bumper third-quarter profits on Tuesday  thanks to high oil prices, but analysts said higher capital  expenditure plans raised some concerns about the extent of  future share buybacks.
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Oil giant BP today posted record profits of $3.94bn (Â£2.14bn) after fuel prices hit new highs. The third quarter performance of Britain&#39;s biggest listed company came as oil prices rose to an average of almost $50 a barrel.
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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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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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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 slashed its growth targets and raised its capital expenditure forecast for this year.