Bp Shares Surge Despite Profit for Third Quarter Plummeting Low Oil Prices Hit Earnings As Giant Reports 50per Cent Plunge
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Summary
BP reported a 50per cent drop in third quarter earnings as the sharp fall in oil prices from the record highs reached last year took its toll on the oil and gas giant's bottom line.
However, shares in the company surged almost 5per cent as investors welcomed signs that chief executive Tony Hayward's reform drive was paying off in the form of big cost cuts and increases in production.See the full content of this document
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Bp Shares Surge Despite Profit for Third Quarter Plummeting Low Oil Prices Hit Earnings As Giant Reports 50per Cent Plunge
Europe's second-largest oil company by market value said third- quarter replacement cost net profit, which strips out unrealised gains or losses related to ...
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