BP triples 2018 profit

Baku. 5 February. REPORT.AZ/ British Petroleum’s (BP) profit for full year 2018 was $12.7 billion, more than double that reported for 2017, Report informs citing press release.

Net income surged by 24% to $298.756 million, net debt increased from $37.8 billion to $44.1 billion.

In the reporting period, BP’s daily production, including Rosneft, surged 2.4% to 3.683 million barrels of oil equivalent for 2018, while the production, excluding Rosneft, was 2.539 million barrels, the highest indicator since 2010.

Along with this, Gulf of Mexico oil spill payments in 2018 totalled $3.2 billion on a post-tax basis.

BP intends to complete more than $10 billion divestments over the next two years, which includes plans announced following the BHP transaction.