Investing Tools
Company A-Z
Company Search
Stock Screener
Portfolios
Technical Analysis
Live Terminal
Mobile Tools

Useful Links
My Profile
My Favorites
Thursday, April 18, 2024 9:13:06 PM - Markets open
VN-INDEX 1,193.01 -22.67/-1.86%
HNX-INDEX 226.20 -2.63/-1.15%
UPCOM-INDEX 88.15 -0.48/-0.54%
BP warns on oil price after announcing $6.3B loss
CNBC - 7/28/2015 1:42:31 PM
 (0 ratings. You must sign in to rate.)
BP, one of the world's biggest oil companies, announced a second-quarter replacement cost loss of $6.3 billion Tuesday, and warned that low oil prices are here to stay.

Bob Dudley, chief executive of the oil major, said in a statement that the "external environment remains challenging."

 "In the past few weeks oil prices have fallen back in response to continued oversupply and market weakness and the recent agreements regarding Iran. I am confident that positioning BP for a period of weaker prices is the right course to take, and will serve the company well for the future," he added.

The replacement cost measure takes into account changes in the price of oil and is used across the industry to report earnings.

It includes a near-$10 billion extra charge related to the environmental costs of the Gulf of Mexico oil spill, which brought the total pre-tax charge for the disaster to $54.6 billion.

 The price of oil has plunged in the past year, and crude oil futures hit a four-month low Monday, suggesting that the rout is far from over. During BP's second quarter, the Brent crude price averaged $62 a barrel, up slightly from $54 a barrel in the first quarter.

The company said its capital expenditure will now come in at less than the expected $20 billion for this year.

Its cash costs in 2015 to date are around $1.7 billion lower than at the same time in 2015, as it continues cost-cutting program.
Newer News
09/12 Measures needed to help SMEs tap ASEAN market: seminar
24/08 Upstream oil businesses profit from higher rents and limited supplies
06/03 Taxing second homes must be studied carefully: experts
21/09 Central banks set to hit peak rates at faster pace
23/03 Policymakers fear high inflation and unemployment
17/03 Current global inflation a worrisome situation
26/01 ASEAN+3 economic prospects positive in 2022
30/12 Cryptocurrency continues to be attractive investment channel next year
13/08 Biden, Harris vow to 'rebuild' America post-Trump
05/01 Game-changing strategy for smart manufacturers
Older News
28/07 Gold stuck near 5-1/2-year low as Fed hike looms
28/07 Oil prices fall on China stock, crude oversupply woes
28/07 Asian Stocks Fall After China Rout as Oil Drops; Aussie Rebounds by Sarah McDonaldAdam Haigh
28/07 U.S. Stocks Follow Global Markets Lower
28/07 A flexible yuan: The last thing China needs?
28/07 Why this China stock market
27/07 China Stocks Sink Most Since 2007 as State-Induced Calm Shatters
27/07 Europe Stocks Fall as China Equities Plunge; Dollar, Metals Drop
27/07 Investors Flee Russia as Morgan Stanley Sees Long Market Chill
27/07 China stock market woes far from over
 
Newsletter Signup
Top Stories
Gold bar auction to be resumed after 11 years of suspension
PM Chính requires strengthened gold market management
Bank shareholders to receive high dividends, stock bonuses
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,193.01 -22.67/-1.86%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.