UK oil giant BP quarterly profits slide by 45%

Chemical News: UK oil giant BP quarterly profits slide by 45%

https://www.chemnet.com Oct 24,2007 Xinhua
LONDON, Oct. 23 (Xinhua) -- Britain's oil giant BP on Tuesday reported a 45 percent plunge in its third quarter profits, hit by a slowdown in production and problems in its refinery business.

Underlying profits in the three months to Sept. 30 were 3.87 billion U.S. dollars, compared with 6.98 billion dollars in the same period a year earlier, the group said.

The group revealed that oil and gas production slumped 4 percent to 3.6 million barrels a day in the third quarter.

However, the group expects to hit an average of between 3.8 million to 3.9 million barrels a day for the full-year.

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