BP AIMS TO SELL $10 BLN BPs third-quarter results took a hit from declining oil prices and a sharp drop in income from Russia as Western sanctions on Moscow led to a slump in earnings from the oil majors local partner, Kremlin-controlled Rosneft. BPs overall profits were broadly in line with expectations at $3 billion but down nearly a fifth year-on-year. Its stock posted modest gains as investors welcomed a 5.3 percent year-on-year increase in dividends to 10 cents per share. Despite the positive financial results the company still faces two significant headwinds -- in Russia and liabilities over the 2010 Gulf of Mexico oil spill, said Iain Reid, analyst at investment bank BMO.
Posted on: Tue, 28 Oct 2014 19:28:03 +0000
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