Low oil prices drain BP Amoco profit 47 percent in first quarterThe company’s profit slide compares with a 40 percent first quarter drop at Exxon Corp. and a 26 percent fall at Royal Dutch Shell Petroleum News Alaska
BP Amoco reported May 11 its operating profits fell 47 percent during the first quarter because of low prices for crude oil.
The oil company said it had operating profits of $677 million, down from $1.28 billion a year earlier. When one-time items, including a $860 million restructuring charge, are....
BP Amoco sees oil price holding firm
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