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BP profit off as output lags

MarketWatch -- BP PLC Tuesday posted a drop in first-quarter profits as the energy giant's asset sales after its U.S. oil spill contributed to a drop in production, preventing it from cashing in on bumper crude oil prices to the same extent as some rivals.

BP's results underscored the impact that the Deepwater Horizon disaster continues to have on the company more than two years after a rig leased by the firm exploded in the Gulf of Mexico, killing 11 and setting off the worst offshore oil spill in U.S. history. While BP's financial health is now sufficiently robust to withstand the multibillion-dollar costs stemming from the 2010 explosion and oil spill, production has yet to return to previous levels.

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Submitted May 01, 2012 By: brbaritone

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jrs4125 Champion Author Indiana Posts:2,893 Points:618,470 Joined:Sep 2011	Message Posted: May 2, 2012 5:20:30 AM Ignore jrs4125 Report Abuse Doooooh
DrCashFlow Champion Author Massachusetts Posts:7,201 Points:1,653,850 Joined:Jun 2008	Message Posted: May 2, 2012 4:29:10 AM Ignore DrCashFlow Report Abuse Many would like to see it go out of business
clpassenubye Champion Author Los Angeles Posts:3,374 Points:776,055 Joined:Mar 2011	Message Posted: May 1, 2012 11:39:44 AM Ignore clpassenubye Report Abuse not surprised
gs7101 Champion Author San Antonio Posts:5,653 Points:395,795 Joined:Jun 2009	Message Posted: May 1, 2012 8:15:10 AM Ignore gs7101 Report Abuse Hope their profits continue to drop!
NukeAtComEd All-Star Author Milwaukee Posts:725 Points:338,970 Joined:Jan 2011	Message Posted: May 1, 2012 7:42:49 AM Ignore NukeAtComEd Report Abuse for all those people dissing a private company that makes money to employ people and pays taxes - get a life! Also, stop complaining about obscene profits - have you looked at Apple on your iphone or ipad lately? Now that's "obscene"!
GingoutMD Champion Author Maryland Posts:3,495 Points:713,305 Joined:Jan 2010	Message Posted: May 1, 2012 7:21:23 AM Ignore GingoutMD Report Abuse Boo-hoo!!! NOT!!!
doeslayersr Champion Author Illinois Posts:9,298 Points:898,730 Joined:Dec 2010	Message Posted: May 1, 2012 7:08:52 AM Ignore doeslayersr Report Abuse As long as they are not losing money it is ok as they cannot print money like the government does. While foreign owned, BP does employ a lot of Americans.
gbs1 Champion Author Minnesota Posts:2,136 Points:769,325 Joined:Mar 2011	Message Posted: May 1, 2012 7:01:11 AM Ignore gbs1 Report Abuse I can't bring myself to feel sorry for them.
Joeski1 Champion Author New Jersey Posts:10,202 Points:1,768,560 Joined:Dec 2004	Message Posted: May 1, 2012 6:46:44 AM Ignore Joeski1 Report Abuse beyond petroleum... failing at one endeavor after another.... still the gulf sea floor is not cleaned.. and the damge is spreading to all living things beneath the sea surface... the poison is in the food cycle... and working it's way up the chain.... would you like your fish and shrimp black... or black???
cdrrod Champion Author Wisconsin Posts:4,286 Points:809,525 Joined:Feb 2006	Message Posted: May 1, 2012 6:36:37 AM Ignore cdrrod Report Abuse All veritable thoughts below. BP loose profit? Too bad - so sad...
Caduceus26 Champion Author Jacksonville Posts:4,036 Points:790,085 Joined:May 2009	Message Posted: May 1, 2012 6:23:13 AM Ignore Caduceus26 Report Abuse Maybe I spoke too soon about BP's profitability in another article posted here. I have not purchased from BP since the oil spill and coverup. However, it appears that the company has problems in other areas of the business notwithstanding the large number of BP stations that may potentially close or go bankrupt due to distribution problems.
ggt49 All-Star Author Grand Rapids Posts:665 Points:532,315 Joined:Apr 2010	Message Posted: May 1, 2012 6:13:02 AM Ignore ggt49 Report Abuse I will not feel sorry for anyone who's profits are in the billions every quarter. Profits are off, what happen, did you go down a million or two.
yardslave Champion Author Oklahoma City Posts:2,692 Points:623,530 Joined:Dec 2005	Message Posted: May 1, 2012 5:52:26 AM Ignore yardslave Report Abuse Gee, I'm worried about them, how will they make it?
WaWanderer Champion Author Washington Posts:4,506 Points:612,675 Joined:Oct 2011	Message Posted: May 1, 2012 5:47:20 AM Ignore WaWanderer Report Abuse BP will make it. There is a lot more than money riding on that company.
brbaritone Champion Author Virginia Posts:2,141 Points:1,723,145 Joined:Jan 2007	Message Posted: May 1, 2012 5:27:22 AM Ignore brbaritone Report Abuse Production is also dropping because of lack of demand. Maybe they should have a sale to improve volume and cash flow!