Profits BP trail behind rival
City analysts believe that the company will be win "clean" - stripping to the effect of variations in stock-$ 4. 6bn (£ 9bn 2), which is down on 2pc with the previous year.
Week last saw profits rise 88pc of Royal Dutch Shell, 50pc to ConocoPhillips and ExxonMobil 55pc aft of the price of oil to 29pc 12pc and gas prices.
However, BP is still accounting of his accident in the Gulf of the Mexico 20 killed April 11 men, which triggered a giant spill.He even had to delay its results a week then that accountants trawling through books to ensure that its provisions are accurate.
Giant energy accepted liability for $32bn accident costs last trimestre.Cependant this is expected to increase by approximately $transmitters-$ 3, according to analysts of Barclays Capital, because it took a month more time to deal with exploded it as expected.
Oil and gas production is probably fell on 3pc versus the same period last year because resources have been diverted to help cope with the spill.
Jason Kenney, oil and gas ING, analyst says accounting for disaster is likely to take several years, led the city to closely monitor the underlying issues.
"I think that they provisioned in the last quarter", he said. " They even took full exposure for their partners [Anadarko and Mitsui] costs into account.In two or three years, they could even get this back if all partners are to be held accountable.
"Own figures, it is regrettable that BP had such a good third quarter of last year's downstream was bounce benefit too return and amont.Ce it seem worse by way of comparison, but it will not have been poorly."
Results of the PMO will be the first major public appearance for its new Executive Director, Bob Dudley, who took over at the beginning of October .but some institutional investors are still not confident of its ability to redefine the society after such shock.
"We regret the fact that Tony Hayward is gone," said a top-20, shareholder who met Mr. Dudley several times since he was appointed Chief Executive. "We do sums not sure Dudley has vision BP and shrink down a company really fantastique.Nous believe must sell Azerbaijan or Angola and a lot of in aval.Mais company still clinging to these at this time.?
Investors have been pushing for sales of assets on the top of the $15bn, so far, to pay for the Gulf of the Mexico because BP is a price much higher than recorded on its books.
BP will not pay a dividend this quarter, but it is planned to begin to pay off once more in the first quarter of next year.
"The path in the post-Macondo rehabilitation and the new strategic orientation of Bob Dudley are the key to performance instead of third quarter earnings, said Citigroup analysts."
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