BP's fourth-quarter results surge on refining and trading
LONDON (Reuters) - BP on Tuesday reported a surge in fourth-quarter profit, beating analysts' expectations, supported by strong earnings in refining and trading.
BP reported fourth-quarter underlying replacement cost profit, the company's definition of net income, of $2.1 billion, exceeding forecasts for $1.9 billion, according to a company-provided survey of analysts.That compared with a profit of $400 million a year earlierand $1.9 billion in the third quarter of 2017.
On an annual basis, BP's profits soared to $6.2 billion from $2.6 billion in 2016.
Full-year production rose to 2.47 million barrels per day (bpd), up some 12 percent from 2016.
Also Read
(Reporting by Ron Bousso, editing by Louise Heavens)
Disclaimer: No Business Standard Journalist was involved in creation of this content