BP Puts Hurricane Bill at $700m

[buzzsaw_23]

BP puts hurricane bill at $700m

Mark Tran
Tuesday October 4, 2005


The British oil giant BP today put the bill for Hurricanes Rita and Katrina at over $700m (£398m) and said it would miss its production target for 2005.

BP, which announced first-half profits of £6bn in July, said trading conditions for the three months to the end of September were significantly affected by the hurricanes and their aftermath.

In a trading update, the world's second largest oil firm warned it was now unlikely to meet its 2005 production goal of between the equivalent of 4.1 million and 4.2 million barrels of oil per day. Hurricanes Rita and Katrina cost BP the equivalent of 145,000 barrels of oil per day in the quarter, it said.

http://www.guardian.co.uk/hurricanes2005/story/0,16546,1584653,00.html

[bullimiami]

1. 6 billion in profit in the first half and they are crying poor mouth?

thats almost 12 billion us dollars.

[DS1]

2. Well, gee, it's a good thing they've all jacked up their prices

to compensate :eyes:

[afdip]

3. i'm shedding large, corporate tears over this news . . .

[Sabriel]

4. Quick! Give them tax breaks before they collapse!

Puh-lease....