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BP Announces Lower 4th Quarter Earnings

Published February 5, 2013 at 3:00 AM CST

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RENEE MONTAGNE, HOST:

NPR's business news starts with a slip for BP.

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STEVE INSKEEP, HOST:

The British oil company, BP, announced its 4th quarter earnings today, and its net profit was about a billion dollars lower than a year earlier. BP has been shrinking as assets have been sold off to pay for its liabilities tied to the 2010 Gulf of Mexico oil spill.

MONTAGNE: Billions more could flow out of the company this year. A civil penalties trial is due to begin in New Orleans later this month. Transcript provided by NPR, Copyright NPR.