Financial Times FT.com

BP counts the $6bn cost of decline in oil prices

By Ed Crooks

Published: January 7 2009 20:06 | Last updated: January 7 2009 20:06

The fall in oil prices will cost BP about $6bn in pre-tax profit in the fourth quarter of the year compared with the third quarter, according to figures posted on the company’s website.

BP’s shares fell sharply on Wednesday after the company’s investor relations department talked to analysts about their forecasts for its results for the fourth quarter, which are due to be published on February 3.

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