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19th of November 2010
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News Tag: BP

November 2, 2010

BP returns to profit following disastrous oil leak

by Kay Murchie
”BP
Oil giant BP has today announced its results for the July to September period. These were delayed by one week because of account complexities relating to the Gulf of Mexico oil spill. The company said third-quarter replacement cost profit dived 63% to $1.85 billion (£1.15 billion), this compares with the $17 billion loss reported in the second quarter - which ...




October 28, 2010

Shell continues to benefit from higher oil and gas prices

by Kay Murchie
”Shell
Oil giant Royal Dutch Shell has today announced third quarter profits rose 7% to $3.5 billion (£2.2 billion) - up from $3 billion last year. However, the group said net earnings dived 21% in the three month period, compared with the previous quarter. The company said it produced 3.058 million barrels of oil per day in the ...




July 29, 2010

Exxon Q2 profits surge 91%

by Kay Murchie
”Exxon
Exxon Mobil, which is the world’s largest oil company, has today announced profits nearly doubled in the April to June period - easily exceeding analysts' expectations. The oil giant said net earnings rose to $7.56 billion, or $1.60 a share, against $3.95 billion, or 81 cents a share, in the same period a year earlier. Analysts had expected earnings of $1.46 a share. According to ...




Royal Dutch Shell Q2 profits surge 94%

by Kay Murchie
”Royal
Oil giant Royal Dutch Shell has today announced second quarter profits almost doubled after completing its restructuring programme ahead of schedule. Shell posted profits of $4.5 billion (£2.9 billion) - a rise of 94% on the $2.3 billion reported a year ago. The Anglo-Dutch firm, which is Britain’s second largest oil company, has undergone a major a restructuring programme and slashed thousands ...




July 27, 2010

Beleaguered oil giant BP reports Q2 loss

by Kay Murchie
”Beleaguered
Oil giant BP has today reported a massive loss of $16.9 billion in the three months to June as a result of the major oil spill in the Gulf of Mexico. The company added that costs related to the spill will reach $32.2 billion (£20.8 billion). Excluding oil spill and other non-operating costs, BP's replacement cost profit was $4.98 billion. The news comes ...




July 23, 2010

Shareholders suffer as dividend payments fall in 2010

by Kay Murchie
Shareholders suffer as dividend payments fall in 2010
Research by Capita Registrars Dividend Monitor has revealed how shareholders will suffer this year due to a fall in dividend payments. Dividend payouts by London-listed companies will fall 6.5% in 2010, the company said, primarily due to the suspension of oil giant BP’s dividend. The research estimated British companies would pay £54.7 billion to shareholders this year, down from £58.5 billion ...




July 6, 2010

Co-operative and Ecclesiastical sponsor ethical investment week

by David Masters
Co-operative and Ecclesiastical sponsor ethical investment week
The Co-operative Financial Services and Ecclesiastical Investment Management were named yesterday as sponsors of the third annual National Ethical Investment Week (NEIW). NEIW 2010, on 7-13 November, is a series of events and other activities across the UK to raise awareness of green and ethical investment options. UKSIF, the sustainable investment association behind NEIW, said the problems BP is facing at the ...




June 22, 2010

Ethical funds to shun BP

by David Masters
Ethical funds to shun BP
The small number of ethical funds with investments in BP are considering pulling out of the beleaguered oil supplier - two months after the biggest oil spill in history began on BP's watch. BP is a 'light green' company, meaning ethical investors buy shares in the firm to encourage it, as shareholders, to behave in an ethical way. This is compared to 'dark green' ...




June 18, 2010

Moody’s join other agencies and downgrades BP’s credit rating

by Kay Murchie
Moody’s join other agencies and downgrades BP’s credit rating
Oil giant BP suffered another blow today after Moody’s credit rating agency downgraded the company’s credit rating by three notches, from A2 to Aa2. The downgrade follows similar moves from the two other major international credit ratings agencies, Fitch and Standard & Poor's, who also downgraded the company‘s rating. In a statement today, Moody’s said it “has today ...




June 17, 2010

BP shares up 9% as compensation fund unveiled

by Kay Murchie
BP shares up 9% as compensation fund unveiled
BP shares have risen more than 9% this morning after it was revealed that a $20 billion (£13.5 billion) compensation fund for victims of the Gulf of Mexico oil leak is to be set up. Details of the fund emerged late yesterday following talks at the White House after BP’s chief executive Tony Hayward and chairman Carl-Henric Svanberg, were summoned ...




June 15, 2010

Fitch cuts BP credit rating amid debt fears

by Kay Murchie
Fitch cuts BP credit rating amid debt fears
Credit rating agency Fitch has today downgraded BP’s rating by six notches, from AA to BBB. The downgrade comes as the oil giant continues to battle to contain the oil leak in the Gulf of Mexico which has resulted in the company's shares plunging in value. Commenting on the downgrade, Fitch said it is concerned about BP's ability to repay ...




June 14, 2010

Should ethical funds invest in BP?

by David Masters
Should ethical funds invest in BP?
At least ten self-proclaimed "ethical" funds hold shares in BP despite the oil producer's pivotal role in the worst oil spill in history. The ethical investment funds holding BP in their portfolio include SWIP Pan-European SRI Equity, SWIP Global SRI, Real Life A, Church of England Investment, COIF Charities Investment, Aberdeen Responsible UK Equity, Marlborough Ethical, CBF Church of England UK Equity, ...




April 28, 2010

Royal Dutch Shell profits up 50% on higher oil prices

by Kay Murchie
”Royal
Royal Dutch Shell has today reported a 49% rise in first quarter profits as a result of higher oil prices. The oil giant said profits totalled $4.96 billion (£3.2 billion) in the three month period - up 49% on the same period a year ago and much higher than the $1.2 billion profit in the last three months ...




April 27, 2010

BP benefits from higher oil prices

by Kay Murchie
”BP
Oil giant BP has today reported a 135% rise in its first quarter profits as a result of higher oil prices. The company said profits more than doubled to $5.6 billion (£3.6 billion), compared with $2.4 billion for the first quarter of 2009. Furthermore, the figure is also up on the $3.45 billion profit made in the final quarter of 2009. Like other ...




February 4, 2010

Shell Q4 profits plunge 75%

by Kay Murchie
”Shell
Oil giant Royal Dutch Shell has today posted a 75% fall in profits for the fourth quarter to $1.2 billion (£755 million), compared with the $4.8 billion the company made a year ago. The Anglo-Dutch company, which is Britain’s second largest oil company, has been hit by a slump in demand for oil from a weak global economy. For the full 2009-year, the ...




February 2, 2010

BP posts 45% fall in annual profit

by Kay Murchie
BP posts 45% fall in annual profit
Oil giant BP has today posted a 45% fall to £8.75 billion in 2009-annual profit compared with the 2008 year. Meanwhile profit for the fourth quarter of 2009 rose 33% to £2.16 billion ($3.45 billion) compared with the $2.59 billion posted a year earlier, as a result of the recovery in oil prices. However, the quarter four figures were lower than ...




October 30, 2009

Exxon hit by lower oil prices

by Kay Murchie
Exxon hit by lower oil prices
Exxon Mobil is the latest oil giant to report its third quarter profits and has announced a 68% fall in net profit to $4.73 billion, compared with $14.8 billion a year ago. Exxon, which is the world's largest oil company, has been hit by weaker oil prices. Although oil prices have increased recently to around the $80 a barrel mark, prices are ...




October 29, 2009

Shell posts 73% fall in third quarter profits

by Kay Murchie
”Shell
Royal Dutch Shell has today posted a 73% fall in profits for the July to September period. The Anglo-Dutch oil giant warned that the outlook remains "very uncertain" and according to The Times, is to eliminate 5,000 positions, around 10% of its workforce. The group said its cost-cutting exercise means that 5,000 staff would leave the group as part of the ...




October 27, 2009

BP quarterly profit hit by falling oil prices

by Kay Murchie
”BP
Oil giant BP has announced a sharp fall in quarterly profits due to lower oil prices. Although oil prices have increased recently to around the $80 a barrel mark, prices are still way off the peak of $147 set in July 2008. BP said third quarter profits were $4.98 billion (£3 billion) - down 50% on the same period last ...




September 29, 2009

Dairy Crest latest firm to close final salary pension scheme

by Kay Murchie
Dairy Crest latest firm to close final salary pension scheme
Dairy Crest has become the latest company to announce it will close its final salary pension scheme to existing members, having closed the scheme to new employees in 2006. The group, which is one of the UK's largest milk firms and makes brands such as Country Life and Clover butter, Davidstow cheese and Frijj flavoured milk, said the ...




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