BP PROFITS SOAR TO ?6.4BN

COMMENTARY ARCHIVES, 30 Oct 2008

Julia White for express.co.uk

OIL giant BP today [Oct/28] announced a whopping £6.4bn third-quarter profits as the firm cashed in on record high prices.

The company’s huge haul for the July-September period is a huge 148 per cent above the same period last year.

Its profits came as crude oil prices hit a new peak above 147 US dollars a barrel in mid-July.

They are likely to spark fresh protests from motorists and businesses who have felt the pain at the petrol pump this year.

Oil prices have since fallen by more than half their July peak to just above 60 dollars a barrel as global recession fears mount.

BP chief executive Tony Hayward said: “Although it has since fallen away sharply, the high oil price of the third quarter obviously helped our absolute result.”

GO TO ORIGINAL

Share this article: email mastodon facebook 🔗 copy link

DISCLAIMER: The statements, views and opinions expressed in pieces republished here are solely those of the authors and do not necessarily represent those of TMS. In accordance with title 17 U.S.C. section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. TMS has no affiliation whatsoever with the originator of this article nor is TMS endorsed or sponsored by the originator. “GO TO ORIGINAL” links are provided as a convenience to our readers and allow for verification of authenticity. However, as originating pages are often updated by their originating host sites, the versions posted may not match the versions our readers view when clicking the “GO TO ORIGINAL” links. This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.

Comments are closed.