Tuesday, October 25, 2005
BP profits up 34% in 3rd Quarter-
http://www.breitbart.com/news/2005/10/25/D8DF1DM80.html
BP PLC, one of the world's largest oil companies, reported a 34 percent rise in quarterly profit Tuesday as record energy prices more than outweighed hurricane damage to its rigs and refineries. BP said net profit for the three months ended Sept. 30 rose to $6.53 billion, up from $4.87 billion in the third quarter of 2004. Revenue jumped to $97.73 billion from $66.73 billion. Production was down 2 percent compared to the third quarter last year, primarily because of the impact of hurricanes in the Gulf of Mexico, the company said.
Production with the BP is down, but profits are way up? This is a trend that, "are expected to be well supported into the winter." -- a trend that has been increasing since well over a year ago.
