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

QEP Pipeline Assets Bought by Tesoro in a $2.5 Billion Deal
Adidas’s Reebok to Get a $2.2 billion Bid from Investors
Survey Reveals Slow Wage Increases in the U.S
Eurozone’s Low Performance Draw Mixed Reactions
Too much coffee affects fertility among men
Graphic WA Heart Foundation LiveLighter campaign targets obesity
Now, a device that will improve vision
Change in gene can cause depression and ageing
U.S. Economic Growth Gets a Boost with New Home Building
Tesla May not Get an Opportunity to Open Stores in Michigan
Cuban role applauded by Kerry in Ebola fight
Travel restrictions can be caused by rising polio cases