BP has seen profits more than double to $12.7bn for 2018, following higher oil prices and after it launched a raft of new projects. BP has seen profits more than double to $12.7bn for 2018, following higher oil prices and after it launched a raft of new projects. Its fourth quarter underlying earnings also jumped higher despite oil prices easing back at the end of last year, to $3.5bn against $2.1bn a year earlier. But BP has also been embarking on a number of new projects, which has been boosting production. On a reported basis, full-year profit rose to $10bn while fourth-quarter results showed it swinging to a $2.7bn profit from a $583m loss a year earlier.

Source: Irish Independent February 05, 2019 08:08 UTC