High Oil Prices Help BP in Q3: Chief Executive
Azerbaijan, Baku, 28 October / Trend / Despite some operational upsets, including hurricane damage in the Gulf of Mexico and interruptions to output from its Caspian fields, BP's oil and gas production was slightly up, the company informed.
"Although the oil production fallen away sharply, the high oil price of the third quarter obviously helped our absolute result," chief executive Tony Hayward said.
"But this should not obscure very real operational improvements in refining and rigorous cost control across the company," Hayward said.
"BP is making good progress in its drive to improve performance. The company announced underlying profits for the third quarter of 2008 of $8.9 billion," Hayward said.