British Petroleum profits disappointing

[rman]

BBC
Strong oil demand lifts BP profit
26 July 2005
http://news.bbc.co.uk/1/hi/business/4716639.stm

"Our record first half financial results could not have been delivered without the significant investments made over the last decade," said BP chief executive Lord Browne."

"There has to be higher spending, but I think they are doing that on the research and development front," said Elissa Bayer of Gerrards stockbrokers"

"However, Lord Browne warned it was not certain that the second six months would be as profitable as the first half of 2005."

"BP's shares fell 2% to 629.5 pence as investors factored in the cost of the compensation pay-out."

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So, 10 years of investment yields 6 months of disappointing profits, and the next 6 months may be more disappointing still.

In the mean time, energy rationing and energy riots are actually taking place now.
www.oilcast.com

[notadmblnd]

1. Now I know I just read the other day that oil profits were up 284%

that isn't enough profit? Where will the greed end?

[rman]

2. where did you read that?

can you provide a source?

[notadmblnd]

3. it was here on DU somewhere

I'll do a search when I get a chance.. on my way out right now and see if I can find the thread. But I'm sure I read that here in the last couple of weeks.

[Karenina]

5. That would be Halliburton

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x4208093

[notadmblnd]

7. you're right, my bad

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=4236499

[Karenina]

4. Exxon and Shell here:

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1662367

[rman]

6. Thanks, i see

Shell's profit was also "below expectations".