Russian winter hurts BP figures

BP said in a statement Wednesday the ongoing cold weather in Russia, which can paralyze oil fields, hit production at the unit that produces nearly a quarter of its oil.

The company said total output between January and March could reach a little more than 4.025 million barrels of oil per day compared with 4.101 million barrels during the same period last year.

The Russian-British venture TNK-BP produced 990,000 bpd in the first quarter, down from 1.03 million bpd during the previous quarter.

A sharp drop in temperatures in Moscow last January also resulted in a decrease in gas supplies to Europe, exacerbating tensions created as a result of the now-resolved dispute between Russia and Ukraine over energy prices.

BP is still struggling to repair its oil rigs in the Gulf of Mexico following hurricanes Rita and Katrina.