BP confirm second-quarter profit of $2.8 billion

BP on Tuesday reported $2.8 billion (£2.13 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 mboe/d a year ago.

Published: 31-07-2018