Energy sector

Feb 3: BP records record profits

BP, the UK-based oil and gas group, faces "challenging" times but its leaders are determined to "hold our course", Tony Hayward, chief executive, said on Tuesday as the company reported a 39 per cent rise in profits to a record $25.6bn for 2008. Ed Crooks, energy editor, says the results are good but the group may struggle with low oil prices.