Arab Today, arab today bp announces slump in profits
Last Updated : GMT 03:25:41
Arab Today, arab today
Arab Today, arab today

BP announces slump in profits

Arab Today, arab today

Arab Today, arab today BP announces slump in profits

London - AFP

BP profits plunged in the first quarter compared with one year earlier when the group sold its stake in a Russian joint venture, the British energy giant said on Tuesday. Net profit stood at $3.528 billion (2.544 billion euros) in the first three months of 2014 compared with profit after tax of $16.863 billion in the first quarter one year earlier, BP said in an earnings statement. BP -- still seeking to reposition itself after the Gulf of Mexico oil spill disaster in 2010 -- has since sold its 50-percent stake in joint venture TNK-BP to Rosneft that gave it a near 20-percent stake in the Russian energy company. "First quarter 2013 included a $12.5-billion gain relating to the disposal of our interest in TNK-BP," the British company said in Tuesday's statement, explaining the main reason for the heavy fall to net profit. BP's performance was hit also by a $521-million write-off relating to its decision not to develop the Utica shale energy acreage in the United States. Stripping out the one-off gains and losses, as well as changes to the value of its oil and gas inventories, BP said that profit after tax dropped to $3.225 billion in the first quarter -- which was also lower compared with market expectations. Analysts' consensus had been for so-called underlying replacement cost profit of $5.42 billion, according to a survey from Dow Jones Newswires.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp announces slump in profits Arab Today, arab today bp announces slump in profits

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp announces slump in profits Arab Today, arab today bp announces slump in profits

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday