International Herald Tribune: Russia aids 35% profit rise at BP
Bloomberg News Tuesday, July 27, 2004
Higher prices also lift quarter’s results
LONDON BP, Europe’s largest oil company, said Tuesday that its second-quarter profit increased 35 percent, helped by record oil and gasoline prices and a jump in Russian production.
Net income rose to $3.43 billion, or 15.7 cents a share, from $2.54 billion, or 11.5 cents, a year earlier, the company said. The profit, the second-highest in the company’s history, foreshadows profit reports due on Thursday from Royal Dutch/Shell Group and Exxon Mobil. BP, Shell and Exxon are thought to have earned a combined $13.63 billion last quarter, according to analysts at Deutsche Bank.