After cutting the fall in value of its US shale gas projects and the decision to abandon its offshore drilling programme off the coast of Alaska, shares in BP have fallen sharply.
The figures are nothing but bad news for a company that posted profits of £3.44bn last year. ‘Replacement cost profits’ (profits that are announced in relation to the cost of oil at a given time) have been affected by falling oil prices and the falling price of US shale gas, in which the company has…
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