Profits Slip For BP In Q3

October 2006 | Company Finance Alert

Following a difficult quarter involving severe disruption to its US operations, British major BP has released its third quarter results, revealing a 3.6% fall in profit. Net income fell to US$6.23bn from US$6.46bn in Q3 2005 and US$7.27bn in Q2 2006. This drop was generally expected following a series of problems and delays in Alaska and the Gulf of Mexico. In addition higher crude realisations and retail margins this quarter have been offset by lower refining margins and gas realisations compared with last year.

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