BP Showing Signs of Recovery

.

BP

After the torment BP had to face in the past one year due to the oil spill disaster in the Gulf of Mexico, it has started recovering. It has recorded a net profit with a 17% increase. This is a very positive sign for the firm and it is recovering speedily.

The total revenue collected this year amounted to a sum of $88.31 billion from the $74.42 billion it was last year. The production of the firm had come to a standstill and this was a very negative sign for the firm. It was facing a lot of trouble and pressure.

There were allegations on them about having caused such a huge loss and the legal case had resulted in loss of a lot of goodwill of the firm. It has had to build trust in the market and it is still doing the same. The firm is showing slow and steady signs of recovery.

"The main impact by far on production is the Gulf Of Mexico moratorium”, a BP spokesman said. “There's also higher turnaround activity that we've been doing as we go through the increased spending on safety, particularly in the North Sea”, he added further.

It is expected that now that all the legal air is cleared and the gulf has come back to normal, the firm shall make a major comeback and shall reach the initial position in the months to come.


Latest News

Republican Senator, Ted Cruz to Compete for President’s Post; But Could his Birt
Ruth Porat to be Google’s New CFO
Fresh Competition Force Netflix, Hulu and Amazon to Look for New Technologies an
Cash-strapped Americans turn to Tax Refund Advances
Drone Manufacturers Have an Eye on North Dakota, Testing Ground for Unmanned Air
Tiffany’s Sales Decline due to a Strong Dollar
Bank of New York Mellon will settle Charges of Defrauding Customers for $714
Return Policy for Target’s Owned and Exclusive Brands Extended to One Year
Starbucks “Race Together” Idea Initiated by CEO Gets a Mixed Reaction
Brent Callinicos Uber’s CFO Steps Down to Spend More Time with Family
Even with the Perfect Design, Driverless Cars May Face Rare Circumstances that m
‘Student Aid Bill of Rights’ in Obama’s Memorandum Could Bring About a Meaningfu