{"id":27674,"date":"2015-10-28T08:07:18","date_gmt":"2015-10-28T15:07:18","guid":{"rendered":"http:\/\/spijue.wpengine.com\/news\/bp-reports-96-percent-drop-in-3q-profit\/"},"modified":"2015-10-28T08:07:18","modified_gmt":"2015-10-28T15:07:18","slug":"bp-reports-96-percent-drop-in-3q-profit","status":"publish","type":"post","link":"https:\/\/www.juneauempire.com\/news\/bp-reports-96-percent-drop-in-3q-profit\/","title":{"rendered":"BP reports 96 percent drop in 3Q profit"},"content":{"rendered":"<p><strong>LONDON \u2014<\/strong> Oil giant BP reported a 96-percent drop in third-quarter profit Tuesday and announced further efforts to curtail spending as it prepares for a prolonged period of low oil prices.<\/p>\n<p>The London-based company said net income fell to $46 million from $1.29 billion in the third quarter of 2014. So-called underlying replacement cost profit, BP\u2019s preferred measure of performance, fell 40 percent to $1.82 billion.<\/p>\n<p>BP also said it plans to cut costs by $6 billion through 2017 \u2014 $3 billion more than already achieved \u2014 forecasting oil prices at around $60 a barrel by that time. Brent crude, the benchmark for North Sea oil, averaged $50.26 a barrel in the third quarter, down 51 percent from a year earlier.<\/p>\n<p>The company also expects to sell as much as $5 billion of assets next year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON \u2014 Oil giant BP reported a 96-percent drop in third-quarter profit Tuesday and announced further efforts to curtail spending as it prepares for a prolonged period of low oil prices. The London-based company said net income fell to $46 million from $1.29 billion in the third quarter of 2014. So-called underlying replacement cost profit, [&hellip;]<\/p>\n","protected":false},"author":107,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_stopmodifiedupdate":false,"_modified_date":"","wds_primary_category":4,"footnotes":""},"categories":[4],"tags":[230],"yst_prominent_words":[],"class_list":["post-27674","post","type-post","status-publish","format-standard","hentry","category-news","tag-state-news"],"_links":{"self":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts\/27674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/users\/107"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/comments?post=27674"}],"version-history":[{"count":0,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts\/27674\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/media?parent=27674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/categories?post=27674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/tags?post=27674"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/yst_prominent_words?post=27674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}