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Energy company BP says 2Q earnings fell 45 percent

BP Q2 earnings

LONDON (AP) — BP’s second-quarter earnings fell 45 percent as lower oil prices hit the British energy company. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, fell to $720 million from $1.3 billion in the same quarter a year earlier, the company said in a statement released Tuesday. BP’s net loss narrowed to ...

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Authorities: No injuries reported in plant explosion, fire

Two explosions and a fire rocked a natural gas plant in southern Mississippi on Monday night, but no one was injured and flames continued for hours Tuesday, authorities said. Emergency Management Director Early Etheridge in Jackson County said the first explosion occurred at 11:30 p.m. and was followed by a larger explosion minutes later. Etheridge said the second blast could ...

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More Texas jobs lost as oil bust continues

More Texas jobs lost to oil bust

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission. Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be ...

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BP posts 91 percent plunge in fourth quarter earnings

BP posts 91 percent plunge in fourth quarter earnings

LONDON — BP’s fourth-quarter earnings plunged 91 percent amid sharp declines in oil prices as the British energy company continued to make provision for the Deepwater Horizon disaster in the Gulf of Mexico and streamline operations. The company reported Tuesday that underlying replacement cost profit fell to $196 million from $2.2 billion in the same quarter a year earlier. The ...

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BP to cut 4,000 jobs amid oil price plunge

LONDON — Oil company BP is cutting some 4,000 jobs in exploration and production over the next two years amid sharp drops in the price of crude. The cuts in BP’s upstream business globally will include the loss of some 600 jobs in the North Sea. The cost-cutting announced Tuesday comes as the price of oil dropped to a 12 ...

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