BP’s profits quadruple on higher oil prices and new projects

BP’s profits quadruple on higher oil prices and new projects:

"BP’s fourth-quarter earnings more than quadrupled from last year as the UK oil and gas group benefited from higher crude prices and a surge in production from new projects. Seven project start-ups last year from Oman to Trinidad increased output by a tenth to 3.6m barrels a day. That represented BP’s highest level of production since the 2010 Deepwater Horizon oil spill in the Gulf of Mexico forced BP to sell tens of billions of dollars of assets to pay clean-up costs, fines and compensation. Bob Dudley, chief executive, said 2017 had been “one of the strongest years in BP’s recent history” and that the group had entered 2018 “with real momentum”."



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