BP Fourth-Quarter Profit Drops as Disposals Hurt Oil Output
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BP Plc, Europe’s second-largest oil company, said fourth-quarter profit fell from a year earlier as output declined and refining margins weakened.
Profit adjusted for one-time items and inventory changes dropped to $2.8 billion from $3.9 billion a year earlier, the London-based company said in a statement. That matched the average estimate of 12 analysts surveyed by Bloomberg.