Economy / United Kingdom
BP Profits Rise 28% In Q208
July 2008 | Industry NewsBritish major BP has reported record quarterly profits in Q208. BP saw a 28% increase in Q2 profit from US$7.37bn in Q207 to US$9.46bn in Q208, largely attributed to high crude oil and natural gas prices. While BP's Q208 earnings exceeded analysts' expectations, difficulties at its joint-owned Russian venture TNK-BP, which produced just under a quarter of BP's total hydrocarbon output in Q208, have overshadowed the company's H108 performance.
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