BP Q4 beats forecast as oil spill trial looms
LONDON Feb 5 (Reuters) - Fourth quarter profits from shrinking British oil company BP Plc beat analysts expectations on Tuesday thanks in part to a record performance from its refining division as a trial in the U.S. over its 2010 U.S. Gulf oil spill looms later in February.
BP, the western world's No. 3 oil company and the last of the big four to report quarterly earnings, said fourth quarter net profit, adjusted for non-operating items and accounting effects, fell to $3.984 from $4.986 billion a year earlier, mainly as a result of tens of billions of dollars worth of asset sales to pay for its spill liabilities.
Analysts had expected a quarterly profit of $3.305 billion.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |