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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (11778)	2/1/2011 11:11:37 AM
From: Wharf Rat	Respond to of 24226

What peak oil looks like... BP Delivers on Dividend, but Scales Back Production Outlook for 2011 However, BP has several longer-term challenges and uncertainties. Our concerns about its execution on growth plans are evidenced by lower-than-expected oil and gas production. Fourth-quarter production declined 9% from year-ago levels to 3.67 million barrels of oil equivalent per day versus our estimate of a 6% decline. BP expects a further production decline to 3.4 mmboe/d in 2011, warranting a review of our model assumptions. Not surprisingly, BP cited lower Gulf of Mexico production as one of the reasons behind the production decline,.. Nine percent in one year is a bunch. quicktake.morningstar.com