LONDON (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) reported a small drop in first-quarter profit, falling short of analysts’ forecasts as the lingering effects of the Gulf oil spill frustrated Chief Executive Bob Dudley’s attempts to turn around the oil major.

Lower production and higher charges due to the spill outweighed the benefits of a 38 percent jump in the price of oil and a tripling of refining margins — factors expected to generate bumper earnings across the oil sector.

LONDON (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) reported a 2 percent drop in first-quarter profit, falling short of analysts’ forecasts as the lingering effects of the oil spill frustrated Chief Executive Bob Dudley’s attempts to turn around the oil major.

Lower production and higher charges due to the oil spill outweighed the benefits of a 38 percent jump in the price of oil and a tripling of refining margins — factors expected to generate bumper earnings across the oil sector.

LONDON, April 27 (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) reported a 2
percent drop in first-quarter profits, falling short of
analysts’ forecasts, as the lingering effects of the oil spill
frustrated Chief Executive Bob Dudley’s attempts to turn around
the oil giant.

Lower production and higher charges due to the oil spill
outweighed the benefits of a 38 percent jump in the price of oil
and a tripling of refining margins — factors expected to
generate bumper earnings across the oil sector.

LONDON, April 27 (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) is expected to
post the weakest rise in first-quarter profits among big oil
companies on Wednesday, after it was forced to sell assets to
pay for the Gulf of Mexico oil spill.

A Reuters poll of nine analysts gave an average forecast of
$5.70 billion for the company’s replacement cost (RC) net
income, excluding one-off items, a 1 percent rise on the same
period last year.

LONDON, April 21 (Reuters) – The big western oil companies,
including Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) and Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz),
are expected to report strong growth in first-quarter profits
next week, thanks to higher crude prices and refining margins.

A 38 percent rise in Brent crude in the quarter compared
with the same period last year, due to strong global demand and
political upheaval in the Middle East, will more than outweigh
the impact of falling production at many companies, analysts
said.

LONDON (Reuters) – BP Plc has filed a lawsuit against Halliburton, the company that cemented the blown-out well which caused the Gulf of Mexico oil spill, a day after claiming $40 billion from rig owner Transocean.

BP said Halliburton concealed critical information which could have prevented the disaster.

LONDON, April 18 (Reuters) – Explorer Tullow Oil (TLW.L: Quote, Profile, Research) has
sued its former partner in Uganda, Heritage Oil (HOIL.L: Quote, Profile, Research), to
recover $313 million which Tullow paid to cover tax on fields it
bought from Heritage.

Uganda said Heritage was liable for capital gains taxes on
the sale, which the Jersey-based company, led by former
mercenary boss Tony Buckingham, denies.

MOSCOW/LONDON, April 15 (Reuters) – BP’s (BP.L: Quote, Profile, Research, Stock Buzz) partners in
its Russian venture TNK-BP (TNBP.MM: Quote, Profile, Research, Stock Buzz) rejected the UK oil major’s
attempts to settle a dispute caused by its $18 billion tie-up
with Rosneft (ROSN.MM: Quote, Profile, Research, Stock Buzz), casting further doubt on the deal.

“Now is the time for sensible proposals from BP to resolve
the problems that have been created,” Stan Polovets, chief
executive officer of AAR, the consortium that represents the
four billionaires who own half of TNK-BP said in a statement.

LONDON, April 14 (Reuters) – BP’s (BP.L: Quote, Profile, Research, Stock Buzz) annual shareholder
meeting was disrupted by campaigners protesting against the oil
giant’s role in the Gulf of Mexico spill, while investors
registered their disapproval with big votes against directors.

A group of five campaigners from the Gulf, one of whom had
covered themselves in a black oil-like substance, were refused
entry to the meeting on Thursday by security guards and police,
as a brass band — part of another protest involving BP workers
– played in the background.

LONDON, April 14 (Reuters) – BP (BP.L: Quote, Profile, Research, Stock Buzz) and Russia’s Rosneft
(ROSN.MM: Quote, Profile, Research, Stock Buzz) appear to have few options left to salvage a $16
billion share swap deal after trying unsuccessfully to buy out
BP’s partners in its Russian venture TNK-BP (TNBP.MM: Quote, Profile, Research, Stock Buzz).

“We have offered them participation in the Arctic. We have
offered cash, we have offered participation to TNK-BP in
international ventures and we have even jointly offered, with
Rosneft, a fair offer for their company,” BP Chief Executive Bob
Dudley told shareholders at the company’s annual general meeting
on Thursday.