Justin Jacobs, LONDON: Is BP finally moving beyond its problems? Analysts at Deutsche Bank certainly think so. In a research note this week, the bank reiterated its "buy" recommendation for BP and laid out its case for the company's recovery. "As the business emerges from a traumatic period and one which has seen considerable focus on improving the safety and reliability of its operations, we expect a strong recovery in upstream profitability with real potential for material earnings upgrades," Deutsche Bank said. In other words, there is light at the end of the tunnel. BP, like its international oil company peers, had a difficult 2012. Production fell by 6% to 2.3 million barrels of oil equivalent a day - about half ExxonMobil's production -and profits fell to $11.9 billion - half its 2011 profit.
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