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BP 'steering steady course' despite profits dive
28.07.09
BP 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."
