Oil giant BP reaches 'turning point'

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http://www.bbc.co.uk/news/business-15441607

Oil giant BP has announced a big rise in third-quarter profits and says it has reached a "turning point" for its oil and gas operations and production.

BP reported third-quarter profits of $5.14bn (£3.2bn), a near tripling of the $1.85bn replacement cost profit it made in the same period a year ago.

Chief executive Bob Dudley said operations were "regaining momentum" and the firm had "greater confidence".

BP's profits and reputation were hit by last year's Gulf of Mexico oil spill.

[Scuba]

1. Well, I feel much better knowing that! Oh, wait....

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x489421

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2. indeed. we should be speaking of BP in the past tense.

broken up -- it's assets sold off.

[Scuba]

3. Nationalized, as far as their US assets anyway. n/t