BP profits down less than expected as output falls
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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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Oil prices fell on Monday,   threatening to test a new six-month low under $60 a barrel as   news of BP restoring output at Prudhoe Bay added to a sense of   healthy supplies, while demand growth questions loomed large.
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U.S. oil and gas producer XTO Energy Inc.  on Tuesday said its fourth-quarter profit fell as lower natural gas prices weighed on results.
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US oil prices fell below $43 on Monday on continued profit-taking as producer-group OPEC eyed increases in the coming months in its tight spare capacity, countering worries over stumbling Iraqi oil exports.
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Oil prices fell to a new six-month low   below $60 a barrel on Monday as news of BP restoring output at   Prudhoe Bay added to a sense of healthy supply.
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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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Noble Energy Inc.  said on Thursday its fourth-quarter profit fell as weakness in natural gas prices weighed on results.
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Profit was up despite a drop in production, but Shell warned that the underlying performance of its refining operations was weaker than it appeared.
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Cnooc, a Chinese offshore oil producer, said first-half profit declined 11 percent, less than analysts had expected, as the company reined in operating costs.
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Oil giant BP reported a 53 percent rise in fourth-quarter net profit as oil prices surged, but full-year profits fell due to refining outages and rising costs.
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Oil and gas producer Kerr-McGee Corp. (KMG.N: Quote, Profile, Research) on Wednesday reported a fall in quarterly profit, citing a writedown related to a pigment plant and higher environmental charges.
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Oil prices fell on Monday,  threatening to test a new six-month low under $60 a barrel as  news of BP restoring output at Prudhoe Bay added to a sense of  healthy supplies, while demand growth questions loomed large.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of 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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U.S. oil and gas producer XTO Energy  Inc.  on Tuesday said its fourth-quarter profit fell as  lower natural gas prices weighed on results.
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World oil prices fell on Thursday as  dealers began to take profits from the week's Hurricane  Ivan-inspired gains, betting that the worst of the storm's  disruption had been factored into prices.
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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.