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BP Sees 'Slow' Recovery as Profit Misses Estimates

02.02.10

By Brian Swint and Eduard Gismatullin

Feb. 2 (Bloomberg) -- BP Plc, Europe’s biggest oil concern, expects the recovery from last year’s dip to be “slow and gradual” as fourth-neighbourhood earnings missed analyst estimates.

Chief Number one Officer Tony Hayward, who whack last year’s cost-cycle target and ramped up operations in the Depth of Mexico to become Europe’s foremost energy producer, said productivity will be “slightly lower” in 2010. Refining margins will “carry on depressed” for the time being, he said.

“They have foiled relative to some reasonably high expectations,” said Christopher Wheaton, who manages about $400 million at Allianz RCM’s Spirit Fund in London. “What’s unusually disappointing is the refining business, which has struggled.”

BP, the first of Europe’s oil majors to description earnings, will be followed by The Hague-based Shot in two days. Exxon Mobil Corp., the largest U.S. circle, posted a fifth straight pinch in quarterly profit yesterday to $6.05 billion. Chevron Corp., the blemished-largest U.S. energy company, reported a 37 percent leave in earnings to $3.07 billion.

Source: BusinessWeek

Green Oasis Environmental Inc. Provides Shareholder Update

02.02.10

Immature Oasis Environmental Inc. (PINKSHEETS: GRNO), a Florida corporation which provides environmental remediation solutions to the billion dollar North American deal in for the cleaning and potential reuse of contaminated solids from slop oil, and separating oil from misapplication water, is pleased to provide an update to all present and future shareholders.

Since the announcement in July of 2009 on the variation in the business focus of Green Asylum Environmental, Inc., the Company has been seeking out acquisitions that fit the entire model and direction of being a green guests, becoming the single best option for slop oil recycling, and environmental remediation solutions; all while maintaining peak profitability. Our first acquisition of Custom Carbon Processing Inc. (CCP) has been working impregnable in its research and development over the last 3 years. During this everything, all of the funding has come internally from the founders of CCP, and through the sales of processed oil. To phase CCP, which is now a wholly owned subsidiary of Unripe Oasis, has sold close to $5,000,000 significance of oil. CCP has also reinvested all revenue proceeds into the further technological growth of its process, so as to ensure that its slop oil system will have continued future success.

Source: CNNMoney.com (press release)