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BP’s ‘strongest year’ delivers £4.4bn profit boom

BP has unveiled better than expected full-year results showing strong operating cash flows driven higher by the recovery in global oil prices and a 12pc growth in BP’s oil and gas business. BP made $6.2bn in replacement cost profits, its standard measure of profitability, for the full year compared to just $2.6bn in 2016 when oil prices were at their lowest ebb. In the final quarter of last year alone BP made $2.1bn, up from just $400m in the last quarter of 2016. BP boss Bob Dudley said last year was one of the strongest years in BP’s recent history, which will accelerate the momentum of the the group’s five-year plan as it enters its second year.


Abstract details


Journal title: Daily Telegraph

Keywords: Finance and investment

Organisation: BP

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