BP further tightens spending

The oil crisis may not have been averted, but has at least been held at bay for oil giant BP. The company confirms previous rumors of further reductions in investments.

Photo: BP/PR

After a row of losses in the last three quarterly reports, British BP can now please investors with a profit in the third quarter of this year. However the plus is still far below the figures seen in the same quarter last year.

Gross earnings, which BP terms "replacement cost profit" amounted to USD 933 million (EUR 848 million) against USD 1.8 million in the same quarter last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Danish government to ban routine flaring by next summer

By next summer, flaring of excess gas will no longer be permitted in the Danish part of the North Sea unless strictly necessary for the safety of employees. The government’s ban on routine flaring comes in the wake of EnergyWatch’s coverage of the issue.

IEA: Nuclear power set for potential comeback

As the world looks for ways to address the ongoing energy crisis, nuclear power has the potential to play a significant role, notes the International Energy Agency in a just-released report.

Further reading

Related articles

Latest News

See all jobs