BLOOMBERG: BP Third-Quarter Profit Rises 53% on Higher Prices
BP has overtaken Royal Dutch/Shell Group to become the second- largest oil company by market value, by making more than $100 billion of takeovers since 1999. Shell also lost its status after a January disclosure that it had overstated its oil and gas reserves for years.”
October 26, 2004
Oct. 26 (Bloomberg) — BP Plc, the world’s second-largest publicly traded oil company, reported profit rose 53 percent in the third quarter because of record crude prices.
Net income increased to $3.46 billion, or 18 cents a share, from $2.26 billion, or 13 cents, a year ago, excluding costs of holding inventories, the London-based company said in a statement on the Regulatory News Service. Profit was $3.94 billion excluding amortization and other costs, compared with analyst estimates of $4.17 billion in a Bloomberg survey.