Earnings

BP plc said it would delay the release of its 3Q2010 earnings by one week to Nov. 2 to give it more time to prepare additional data and disclosures related to the April Macondo well explosion. For 2Q2010 BP posted a $17 billion replacement cost loss, which included a $32.2 billion provision for costs related to the massive oil spill (see Daily GPI, July 28). BP also has been evicted from the FTSE4Good ethical investment index because of the oil spill. BP earlier this year was excluded from the DJ Sustainability Index.

The U.S. land market helped Weatherford International Ltd.’s earnings soar in 2Q2010, lifted by increased oilfield services work in unconventional natural gas and oil plays, the company reported Tuesday.

Nexen Inc. on Thursday kicked off the quarterly earnings season with good news: higher profits than anticipated and solid performance from its operating units.

Thanks to strong oil prices, Calgary-based Nexen Inc. posted strong first quarter earnings on Tuesday as the company continues to divest portions of its energy marketing business in order to focus on core competencies.

Thanks to strong oil prices, Calgary-based Nexen Inc. posted strong first quarter earnings on Tuesday as the company continues to divest portions of its energy marketing business in order to focus on core competencies.

With Royal Dutch Shell’s earnings in free-fall during the last three months of 2009, the oil major is selling some refineries and shifting some spending to the upstream to prepare for a longer-term focus on natural gas, CEO Peter Voser said Thursday.

With Royal Dutch Shell’s earnings in free-fall during the last three months of 2009, the oil major is selling some refineries and shifting some spending to the upstream to prepare for a longer-term focus on natural gas, CEO Peter Voser said Thursday.

With Royal Dutch Shell’s earnings in free-fall during the last three months of 2009, the oil major is selling some refineries and shifting some spending to the upstream to prepare for a longer-term focus on natural gas, CEO Peter Voser said Thursday.

Lower-than-normal pressures before pipeline anomaly remediation and temporary pipeline shutdowns during the remediation drove an 8% decrease in its earnings to $106.9 million in 3Q2009 compared with $116.1 in 3Q2008, Houston-based Boardwalk Pipeline Partners said last week.