USD 63.7606

-0.19

EUR 71.1696

+0.04

BRENT 59.08

+0.03

AI-92 42.28

+0.01

AI-95 46.04

+0.01

AI-98 51.75

0

Diesel 46.25

-0.01

36

BP Counts Losses After Gulf of Mexico Hurricanes

The UK oil giant BP still suffers losses because of U.S. hurricanes in the fourth quarter

The UK oil giant BP still suffers losses because of U.S. hurricanes in the fourth quarter.

The production fell down from a year ago and over $1 billion of lost profits and repair bills. A company spokesman said the firm's average production for 2005 would be around 4.0 million boepd, below the 4.1-4.2 million boepd, which BP had hoped for before its Gulf of Mexico production was hit by hurricanes in the third quarter.

Moreover, the barrels foregone in the Gulf of Mexico are among the most profitable in its portfolio.