BP First Quarter Earnings Call
12th January 2008 00:00 AM |
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| Replacement cost profit was $4.4 billion, 17% lower than in the previous year due to lower oil and gas realizations and lower reported volumes reflect |
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| The oil and gas company reported a 3.2% drop in revenue from $65 billion in 2006 to $63 billion as oil prices declined and production dropped 3% to 3.9 million barrels of oil equivalent per day. The firm acquired a 31% share of the Netherlands Refinery Company and announced divestment of the Coryton Refinery. Additionally, the firm is expanding solar cell production capacity in both Spain and India, and selected research partners for the BP Energy Bio Sciences Institute. |
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BP Fourth Quarter Earnings Call
10th January 2008 00:00 AM |
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| Replacement cost profit was $3,895 million or $20.08 a share, down 12% from 2005 due to lower refining margins and lower gas realizations. |
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| The oil and gas exploration company reported a marginal drop in revenues from $63.8 billion in 2005 to $62.8 billion despite a number of discoveries and reserves added through exploration, along with the lowest finding costs per barrel in the industry. As a result, reserves have more than doubling to 17.7 billion barrels of oil equivalent. Additionally, the firm distributed $23.2 billion to shareholders, including $15.5 billion in share buybacks, thereby reducing shares in issue by 6%. |
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BP Third Quarter Earnings Call
26th October 2007 00:00 AM |
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| Net profit fell 29% to $4.5 billion or $23.07 due to higher cost of sales and administration expenses. |
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| The energy provider reported a marginal decrease in revenues from $73 billion in 2006 to $72.8 billion due to growth in revenue from refining and marketing. However, replacement cost profit was down 45% to $3.87 billion, as a result of the continued impact of operational issues, as well as the absence of favorable ones off items realized in the prior year. In addition, reported production was 3.65 million barrels of oil equivalent per day, a decline of 4% compared with a year earlier. |
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BP Second Quarter Earnings Call
16th August 2007 00:00 AM |
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| Net income rose slightly to $7.38 billion in the quarter compared to $7.27 billion a year earlier. |
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| Refinery outages and delay in upstream projects resulted in reduced revenues for this petroleum products giant in the quarter. The replacement cost profit reduced to $6,087 milllion, a 1% decrease from $6,118 million a year earlier. The quarter’s results included $741 milllion non-operating gain compared to $6 million a year earlier. |
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