Friday, March 5, 2010

BP (NYSE:BP) Out-produces ExxonMobil (NYSE:XOM)

BP Versus ExxonMobil

BP (NYSE:BP) has made a big deal about it producing more oil and gas for the first time in history over its giant competitor ExxonMobil (NYSE:XOM).

The problem is the profits of BP plunged by 45 percent in 2009, while ExxonMobil had earnings of over $4 billion more than BP, making the boast somewhat empty.

While blaming the decrease in profits on oil prices falling, you have to consider ExxonMobil experienced the same conditions, and were able to thrive in them, revealing evidently a BP company that doesn't have its costs reined in as they should have.

BP Versus ExxonMobil

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