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BP First-Quarter Profit Falls

LONDON-- BP PLC reported a fall in first-quarter profit as the energy giant continues to reshaping itself in the aftermath of the Deepwater Horizon explosion and oil spill. BP's production for the first quarter fell 8.5% to 2.13 million barrels of oil a day and the company warned that second-quarter production will be lower than the first quarter, mainly because of planned major maintenance particularly in the higher-margin North Sea and Gulf of Mexico regions. BP said underlying first-quarter replacement-cost profit, which strips out inventory gains or losses, fell to $3.23 billion, from $4.22 billion last year. Replacement-cost profit is similar to net profit, according to U.S. generally accepted accounting principles. Revenue slipped to $91.71 billion, from $94.11 billion a year earlier. Net profit was $3.53 billion, from $16.86 billion a year earlier, which was boosted by a $12.5 billion gain the sale of its stake in TNK-BP. BP increased its first-quarter to 9.75 cents a share, from 9 cents a share last year. Write to Justin Scheck at justin.scheck@wsj.com and Ian Walker at ian.walker@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Bp (BP)
DateTimeHeadline
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09/05/201409:49:05U.S. Hot Stocks: Hot Stocks to Watch
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09/04/201412:41:07EUROPE MARKETS: Europe Stocks Rise As ECB Ramps Up Low-inflation...
09/04/201412:29:09LONDON MARKETS: BP Slides In London, Paring Gain For FTSE 100
09/04/201411:54:07BP PLC Statement re Gulf of Mexico
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09/03/201419:09:29Atlantic Richfield, DuPont to Pay $26 Million in Cleanup Settlement
09/03/201419:00:54Atlantic Richfield, DuPont Agree to Pay $26 Million in Cleanup...
08/28/201414:17:01European Stocks Hit by Renewed Ukraine Tensions -- 3rd Update
08/20/201417:41:52ADR Shares End Mixed; Luxottica Shares Active

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