Latest News:  
Beijing   Sunny    2 / -9   City Forecast

People's Daily Online>>World

BP returns to profit after Mexico Gulf oil spill

(Xinhua)

09:23, February 08, 2012

LONDON, Feb. 7 (Xinhua) -- British Petroleum (BP) said it generated profits totaling 15.1 billion pounds (23.9 billion U.S. dollars) for 2011, the first turnround to profits following the Gulf of Mexico oil spill, the company said on Tuesday.

According to the BP's year-end result for 2011 released on Tuesday, the oil giant's profits for the fourth quarter of last year rose to 4.9 billion pounds, which was more than forecasted and a 38 percent increase on a year earlier.

BP announced that it has raised its dividend to shareholders by 14 percent, also the first increase since the oil spill.

BP's profits were boosted by the price of oil which has remained at relatively high levels of about 100 dollars a barrel throughout the final three months of 2011.

Separately on Tuesday, BP's chief executive, Bob Dudley, told Reuters that the company was set to begin a new project in the Gulf of Mexico.

BP is asking contractor Halliburton to pay for all costs and damages that arose from the Gulf of Mexico spill. The trial between BP and its contractor Halliburton is expected within weeks.

BP has so far paid out 8.8 billion dollars in damages claims, said BBC.

Email|Print|Comments(Editor:张茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Residents prepare for Tibetan New Year

  2. Jewellery design competition held in HK

  3. Chinese lantern unveiled in San Francisco

  4. Cold wave continues its force in E China

Most Popular

Opinions

  1. American society at crossroads
  2. Values are thin excuses to start new wars
  3. Li Ning to lower costs, improve effeciency
  4. EU cannot act as sole toll bearer of the skies
  5. Avoiding civil war in Syria
  6. Trade essential for growth
  7. Cadmium pollution cleanup measures safe, effective
  8. Chinese consumers fill big Western shoes abroad
  9. Returned migrant workers refill "empty nests"
  10. Luxury shoppers ring alarm bells

What's happening in China

Lantern Festival return travel rush begins

  1. Warning on HK family planning
  2. Police nab jewelry store robber in S China
  3. Cold spell affects 40,000 in north China
  4. China raises threshold for driving license
  5. Land slides in NW China, casualities unknown

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai