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BP Reports $5.6-Billion Net Profit as Bankers Push for a Break-up to Unlock Value

1:28 PM MDT | July 27, 2011 | Natasha Alperowicz

BP reported net income of $5.6 billion for the second quarter of 2011 compared with a $17-billion loss in the year-earlier quarter. BP is in the process of selling fields and disposing of some of its U.S. refining capacity, following last year’s Gulf of Mexico oil spill. The results appear amid pressure from analysts and bankers for BP to split itself up by separating its upstream exploration and production division from its refining and marketing arm. Refining and marketing includes BP’s sizeable petrochemical operations, including its para-xylene...

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