As a domain expert in the field of energy economics, I can provide a detailed analysis of BP's annual earnings. BP, or British Petroleum, is one of the world's leading oil and gas companies, with a significant impact on the global energy market. To understand its annual earnings, we must consider various factors including its operations, market conditions, and the costs associated with its activities.

Firstly, it is essential to note that the profitability of an oil and gas company like BP is influenced by the global oil prices, which are subject to fluctuations due to supply and demand dynamics, geopolitical events, and economic conditions. BP's revenue and profit are directly linked to these oil prices.

The reference to the oil spill cost of $16 million per day is a significant figure, highlighting the financial impact of such environmental disasters on a company's bottom line. This cost is a part of the company's operational expenses and is crucial when assessing its annual earnings.

Moreover, the mentioned profit of $66 million per day in the first quarter of the year is an impressive number, indicating a strong performance during that period. This daily profit, when annualized, would amount to approximately $24.3 billion, which is a substantial figure by any standard.

However, it is also important to consider the year 2009, when BP reported total profits of $14 billion. This figure gives us a historical perspective on the company's profitability, which can vary year by year due to the factors mentioned earlier.

To calculate the annual earnings, we would typically look at the company's financial statements, which include the income statement, balance sheet, and cash flow statement. These documents provide a comprehensive view of the company's financial health and performance over a fiscal year.

In conclusion, while the specific annual earnings of BP can vary, the figures provided give us a glimpse into the scale of its operations and the potential for significant profits. It is also important to remember that these profits can be affected by a range of factors, including operational costs, environmental incidents, and market conditions.

read more >>

The cost per day of the oil spill to BP so far has been $16 million. That number is dwarfed by the $66 million per day the firm made in profit in the first quarter of this year. Indeed, in 2009 BP's total profits were $14 billion.May 27, 2010read more >>