More like this
BP back in profit despite leak cost hitting $39.9bn
Business Digest: New CEO says his team are rebuilding confidence after 'terrible events' in Gulf of Mexico
The Gulf of Mexico nightmare, which ran from April to September, cost BP a total of $39.9bn in clean-up and compensation fees. But such are its worldwide interests that the oil giant has been able to return to profit in the third quarter.
The company posted a profit of $1.85bn for July to September, compared with a $17.1bn loss the previous quarter.
An additional charge of $7.7bn had to be paid in the third quarter to wrap up the costs of the Macondo well leak. On top of the $32.2bn main charge in July, this brought the total cost of the spill to $39.9bn.
Bob Dudley, the American who replaced Tony Hayward as chief executive this summer, said the results showed that BP was on "track for recovery".
He added: "This strong operating performance shows the determination of everyone at BP to move the company forward and rebuild confidence after the terrible events of the past six months."
Read a full report at the Press Association ·
