In their latest 2009 earnings report BP have reported better-than-expected profits. Despite a profit of £1.9 bn for the second quarter the company is still intending to cut over $1 billion in costs as global demand for oil remains difficult in the recession which many countries are enduring. The figures represent a 53% fall on the same period last year. Of course the price of a barrel of oil has dropped a lot since the previous year, when it was at over $140, and is now at half that price. Motorists have yet to be convinced these massive profits can be justified when the price they pay for petrol at the pump seems to be increasing most of the time.

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay