BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
    You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
 Tuesday, 14 January, 2003, 18:03 GMT
BP production growth slows
Energy giant BP has confirmed that oil and gas output growth slowed to just 3% last year.

BP cut its forecasts for oil and gas output three times in less than two months late last year.

It had originally targeted a growth rate of 5.5% for the year, but was forced to adjust its horizons after it was hit by a number of production problems.

In October, its shares slumped after it said it was revising down its growth expectations to 3%.

And on Tuesday, BP's shares slid after it warned that the overall refining and marketing trading environment had "deteriorated" during the October to December quarter relative to the previous three months.

BP said that retail margins were being squeezed due to "seasonal declines compounded by significant crude price increases" towards the end of 2002.

BP shares stood 5.5p lower at 410.5p in afternoon trade on Tuesday.

See also:

02 Dec 02 | Business
29 Oct 02 | Business
30 Jul 02 | Business
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


 E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes