Newspaper article The Evening Standard (London, England)

[Pounds Sterling]2.9bn Profit for BP... and a [Pounds Sterling]2.42 per Litre Fuel for Drivers; Oil Giant to Cash in on 'Superpetrol'

Newspaper article The Evening Standard (London, England)

[Pounds Sterling]2.9bn Profit for BP... and a [Pounds Sterling]2.42 per Litre Fuel for Drivers; Oil Giant to Cash in on 'Superpetrol'

Article excerpt

Byline: ROBERT LEA

BP TODAY announced profits of nearly [pounds sterling]3 billion in the first three months of this year, with its [pounds sterling]9 million-a-year boss Lord Browne promising City investors much more to come.

In a chilling statement for motorists and industry already suffering under high energy costs, the oil giant's chief executive said: "Oil prices are expected to remain strong."

It comes as BP reveal they will be selling a new "designer fuel" for high performance cars at a staggering [pounds sterling]11 per gallon. The fuel - to be called Ultimate 102 - sells for [pounds sterling]2.42 a litre and is available at six forecourts in the South, aimed at motorsports enthusiasts.

BP's first quarter profits of [pounds sterling]2.9bn were based on average oil prices of $61.79 a barrel. A barrel of Brent crude traded overnight at $73. BP's quarterly profits were nearly 20 per cent higher than in the last three months of 2005 but down by four per cent year-on-year. …

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