Business Standard

BP second-quarter profit above expectations at $2.8 billion


Reuters LONDON
LONDON (Reuters) - BP on Tuesday reported $2.8 billion in second-quarter profit, four times the amount it reached last year, boosted by higher oil prices. BP's underlying replacement cost profit, the company's definition of net income, exceeded forecasts of $2.7 billion, according to a company-provided survey of analysts.
It earned $0.7 billion a year earlier and $2.6 billion in the first quarter.
First-half production rose to 3.662 million barrels of oil equivalent per day, including Rosneft, from 3.544 million barrels of oil equivalent per day a year earlier.
(Reporting by Shadia Nasralla; editing by Jason Neely)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 31 2018 | 1:56 PM IST

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