BP’s (NYSE: BP) profits fell as it continues to struggle with the Deepwater Horizon catastrophe. The incident and subsequent oil spill may cost the UK company as much as $20 billion in settlements with private interests. Fines by the US government could range into the billions of dollars as well. The total charge BP had taken against the potential liabilities was $37.2 billion as of March 31.
Despite a large increase oil prices which helped the results of other oil giants which include Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX), BP’s profit for the first quarter was $5.9 billion down from $7.2 billion in the same period last year.
BP bragged about its new exploration and refinery prospects. The comments continue to be overshadowed by the largest mistake made by any multinational oil company in more than a generation.
Douglas A. McIntyre
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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