BP profit slumps as oil output slips
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British 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.
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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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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  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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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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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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Anglo-Dutch energy giant Royal Dutch Shell said Thursday that its net profit fell by eight percent in the third quarter as the company experienced a drop in oil production.
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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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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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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 prices continued falling on  Thursday after an unexpectedly large rise in U.S. crude  inventories spurred profit-taking from record highs.
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Oil prices continued falling on Thursday after an unexpectedly large rise in U.S. crude inventories spurred profit-taking from record highs.
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Oil prices dropped sharply today in what traders called a wave of profit-taking sparked by a steep drop in gasoline futures. In afternoon trading, November crude futures traded at US$53.
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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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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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Oil prices slipped further from record highs on Wednesday as traders locked in profits after the market's &#36;10 surge since mid-August.
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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.