Chevron and Exxon Earnings on Tap: Downstream Takes the Spotlight

BP (NYSE:BP) will report earnings on February 5. Earnings from BP’s downstream operations were off just 3.7 percent in the first nine months of 2012 compared to the period in 2011. Analysts are looking for earnings of $1.11 per share, a 53.9 percent decrease from the year-ago period, largely as a result of the company’s ongoing resolution of the Deepwater Horizon disaster.

As of 30 September 2012, “BP had paid a total of over $8.8 billion for individual, business and government entity claims, advances and other payments, including payments made by BP prior to the establishment of the Deepwater Horizon Oil Spill Trust,” the company reported in its third-quarter results.

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