1. BHP said higher prices for all products, higher natural gas and liquefied petroleum gas sales volumes and lower exploration charges had a positive effect on the result. 2. Higher international crude production, lower exploration costs, and higher lubricant and diesel fuel sales helped keep net income from declining further, said Chief Executive Roberto Monti. 3. Lower exploration and other costs more than offset the decrease in sales, the company said. 4. The improvement stemmed primarily from higher crude oil production and lower exploration expense, the company said. 5. Cost savings and lower exploration expense also helped, the company said. 6. Earnings benefited from lower exploration expenses and cost-cutting. 7. Higher volumes of output, improvements in productivity and lower exploration expenses helped somewhat to offset this price weakness, the company said. |