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Oil loses its lustre on pyre of price volatility

2015-02-01 03:35:44| Oil & Gas - Topix.net

OIL major BP's annual results this week will bear the scars of the plummeting oil price as the group is also expected to unveil sharp cuts in its investment plans. Chief executive Bob Dudley will be taking on the spluttering profits torch and cost-cutting narrative from arch-rival Shell, which reported a slide in underlying fourth-quarter earnings to $3.26 billion last Thursday - about 20 per cent below analysts' expectations.

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