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

SWIFT says, Yuan is presently the Most-Used Currency in Asia for Payments to Chi
U.S. Dollar gets a Lift Strengthening Hopes of Raise in Interest Rate
Hackers Steal Tax Information of 100,000 American Taxpayers from IRS site
Charter Communications is Acquiring Time Warner Cable for about $56 Billion
Greece’s Interior Minister Says Greece will not be Able to Repay Debt Next Month
Nikos Voutsis, Greece’s Interior Minister
Rig Count in U.S Slows, Oil Trades Close to $60
Third Annual ‘March against Monsanto’ held on Saturday
In Response to Tuesday’s Oil Spill, Governor Jerry Brown
Ruptured Oil Pipeline Leads to 21,000 gallons of Oil Flowing into California Coa
Janet Yellen Awarded her Second Yale Degree
Japan’s Improved First-Quarter GDP Portrays a Recovering Economy