BP is among the many companies that suffered from the recent drop in oil prices. They are facing lower income, as well, due to the decrease in demand for their products. This is clearly shown in their third quarter ratings.
They are also looking at the losses of their huge partner in business – Rosneft. The profit of their Russian ties declined as soon as the oil market went unstable.
The drop in their total income was recorded at five percent. The market is expecting them to reach the $5 billion mark but they fell short, especially now that the third quarter rates are out.
They recorded two positive records in the last outings but this is still short of what is expected of them. They could be facing bigger blows as they will have to fix two more problems. These are the oil spill that happened in Mexico last 2010 and other failed business decisions in Russia.
BP is not the only company that is looking at losses after the oil price drop down. There are a lot of smaller companies that were shut down due to the same reason. Local businesses in the United States were also affected in the market movement.
