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BP Falls As Big Oil Suffers From Falling Production, Weak Refining

Forbes -- BP posted disappointing first quarter earnings before the bell on Tuesday, as lower production and higher costs conspired to push profits down. The company is still dealing with the aftermath of the brutal Deepwater Horizon accident, having taken a cumulative charge of $37.2 billion to date, with $8 billion remaining to cover liabilities.

Adjusted net income, excluding inventory holdings, slid 12.8% from a year ago to $4.8 billion, falling short of analyst estimates from Citi and RBC. Adjusted earnings per American depositary receipt were $1.52.

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Submitted May 02, 2012 By: eromitlab

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Amplion Champion Author Oregon Posts:6,789 Points:1,869,060 Joined:Sep 2005	Message Posted: May 3, 2012 7:18:30 AM Ignore Amplion Report Abuse KICK BP OUT OF THE USA BOYCOTT ARCO/BP/CASTROL (O.C.Henry likes Castrol)
md11capt Champion Author Denver Posts:3,558 Points:712,380 Joined:Mar 2011	Message Posted: May 2, 2012 6:44:51 PM Ignore md11capt Report Abuse Poor BIG OIL.
MontanaMac Champion Author Washington Posts:1,736 Points:410,050 Joined:May 2011	Message Posted: May 2, 2012 7:53:03 AM Ignore MontanaMac Report Abuse Kicking big oil is all the rage these days.
brbaritone Champion Author Virginia Posts:2,071 Points:1,700,620 Joined:Jan 2007	Message Posted: May 2, 2012 7:42:11 AM Ignore brbaritone Report Abuse When demand declines, prices are also supposed to go down.
bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: May 2, 2012 7:39:50 AM Ignore bigmoo63 Report Abuse I guess thats one less zero on the bonus checks for the fat cats.
gs7101 Champion Author San Antonio Posts:5,538 Points:389,345 Joined:Jun 2009	Message Posted: May 2, 2012 6:48:37 AM Ignore gs7101 Report Abuse Hope BP continues to lose profits; they are hardly suffering!
farmboyTN Champion Author Tennessee Posts:2,277 Points:451,485 Joined:Feb 2012	Message Posted: May 2, 2012 6:47:54 AM Ignore farmboyTN Report Abuse OK
js0743 All-Star Author Georgia Posts:981 Points:460,880 Joined:Nov 2011	Message Posted: May 2, 2012 6:34:28 AM Ignore js0743 Report Abuse Oh well.
OTISFL Champion Author Pensacola Posts:4,625 Points:868,740 Joined:Apr 2009	Message Posted: May 2, 2012 6:05:45 AM Ignore OTISFL Report Abuse No pity for BP!
wrunner Champion Author Virginia Posts:4,460 Points:1,139,510 Joined:Dec 2009	Message Posted: May 2, 2012 5:34:17 AM Ignore wrunner Report Abuse The article above looks like a press release. So BP wins big and BP loses some. Get over it.
Yooperheart Champion Author Michigan Posts:3,435 Points:529,950 Joined:Feb 2010	Message Posted: May 2, 2012 4:44:34 AM Ignore Yooperheart Report Abuse Lets have the G'ment bail them out.
JamesCalvin Champion Author Lancaster Posts:3,201 Points:522,480 Joined:Nov 2011	Message Posted: May 2, 2012 2:42:08 AM Ignore JamesCalvin Report Abuse Revovering from a hit as big as the gulf spill is tough. Let's all hang together or we shall all fall apart!
grandpadon28110 Champion Author Charlotte Posts:4,731 Points:1,145,235 Joined:Sep 2008	Message Posted: May 2, 2012 2:29:24 AM Ignore grandpadon28110 Report Abuse OK.