07-25-2006, 01:02 PM
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 | Seasoned Veteran | | Join Date: Apr 2006 Location: X
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 BP Profit Up 30 Pct.; CEO Retirement Set
Quote: BP Profit Up 30 Pct.; CEO Retirement Set
Jul 25, 9:36 AM (ET)
BY JILL LAWLESS
LONDON (AP) - Oil company BP PLC (BP) reported Tuesday its net profit rose 30 percent in the second quarter, as soaring world oil prices counterbalanced lower oil and gas output. Chief Executive John Browne also announced that he would step down at the end of 2008.
BP, one of the world's largest oil companies, posted a net profit of $7.3 billion for the three months ending June 30, up from $5.6 billion a year earlier. Revenue rose 24 percent to $73.5 billion from $59.3 billion.
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