BP Profit Falls, Sells Assets For Oil Spill Charges
BP (BP) profit fell 48% in the fourth quarter as the oil company sold assets in preparation for litigation over the 2010 Gulf oil spill. On Tuesday, the oil and gas giant reported a 48% drop in earnings to $1.25 per share. Despite the drop, BP still beat analyst estimates by 14 cents, sending shares up more than 1% in morning trade. BP's oil and gas output fell 7% during the quarter as the company divested assets to help pay for charges related to
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