BP Oil Posts Strong Results
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Tuesday, 29 July 2008 |
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BP Oil records strong results ahead of Tony Haywards webcast today. Profits are up 28% to st£4.74bn (us$9.46bn) compared to a year ago.
The company’s crude oil inventories, was up 6 per cent to $6.85bn for
the quarter. It rose 23 per cent to $13.44bn for the second half.
While the BP-TNK saga appears to overshadow the 2nd quarter report, BP profits at the company’s refining division weer significantly down from $2.7bn to
$539m. The company said higher energy costs continued to hit the
division’s profits, especially in the US.
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