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BP Reports Disappointing Earnings Amid Lower Oil Prices

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Hira Shahnawaz Akhtar
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BP plc (NYSE:BP) (LON:BP) released the results for the second quarter of 2013 and saw stagnation in performance estimates amidst a slow global economy and declining oil prices.

BP Reports Disappointing Earnings Amid Lower Oil Prices

BP sales grew but margins declined

BP registered net earnings of USD 2.7 billion for the quarter ended June 30, 2013 which was a decline of 26 percent over the same period last year and 23 percent on a QoQ basis. Overall sales grew by 1.5 percent to USD 95 billion but it registered a decline in net margins from 3.9 percent to 2.9...

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.