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Deepwater Horizon damages weigh on BP's profits

2013-04-30 11:17:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: BP's profits slipped in the first quarter as it emerged that the oil company had paid out more than half of the cash it has set aside to pay for damages caused by the 2010 oil spill in the Gulf of Mexico. The company's replacement cost profit its preferred measure because it removes one-off items and the effect of oil prices was $4.2bn (2.7bn) for the quarter, compared with $4.7bn for the same period last year and $3.9bn for the last quarter of 2012. It was above analysts'forecasts of $3.27bn...

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