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04/27/2005:

"Earnings at BP Increase 29% on the Strength of Oil Prices"

BP,the world's second-biggest publicly traded oil company, posted a 29 percent jump in first-quarter profit, helped by higher energy prices.

Net income rose to $5.49 billion, or 25.6 cents a share, excluding gains in the value of its oil inventories, BP said yesterday. Revenues rose 16 percent, to $79.8 billion, from a year earlier.

BP, which is second to the Exxon Mobil Corporation, is the first of the world's large oil companies to report earnings from the first quarter, when New York crude oil averaged $57.60 a barrel, natural gas prices rallied in the United States and Europe and gasoline prices surged.
Full:nytimes.com