: :inin Kyiv (EET)

3 Reasons Why BP Looks Uglier Than Any Other Oil Company Today


British oil giant BP has released a gloomy third-quarter result today, with profits down 17% from the previous quarter. The Financial Times reports that replacement cost profit (the preferred index of analysts because it takes into account fluctuations in oil prices to make the cost of acquiring reserves comparable) was just $3 billion from July to September, dropping from $3.6 billion in the previous three months and $3.7 billion in the same period last year. BP looks like it’s in the middle of a perfect storm, with three different battles to fight: 1. The drop in oil prices is hurting …read more

Source: Business Insider

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