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BP 'steering steady course' despite profits dive
28 Jul 2009BP announced a 53% slump in profits today, but the oil giant said it continued to steer "a steady course through choppy waters".
The haul of 3.14 billion US dollars (£1.9 billion) between April and June was well down on the 6.75 billion US dollars seen a year ago, a period when oil prices were approaching record high levels.
However, chief executive Tony Hayward said the figure was 30% higher than the first quarter of the year, helped by a 4% rise in BP's daily production to more than four million barrels of oil equivalent in the three months.
He added: "We are in turbulent times, volatile and uncertain. But we continue to steer a steady course through choppy waters."
Reader views (1)
This type of story is once again going to fuel anti-Labour comments. Petrol is over £1 a litre due to massive taxation yet the cost is low for the actual fuel.
Everything the Labour party touches turns to chaos.
- Sally Jones, London, 28/07/2009 08:44
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