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BP sees annual profits more than double to £9.7bn

by Sarah Dunsby
5th Feb 19 9:22 am

Energy giant BP saw profits more than double to £9.7bn in 2018 as a result of higher oil prices and new projects.

BP’s underlying replacement cost profit, and preferred income measure rose to £4.8bn in 2017.

Bob Dudley, group chief executive of BP said, “We now have a powerful track record of safe and reliable performance, efficient execution and capital discipline.

“Our strategy is clearly working and will serve the company and our shareholders well through the energy transition.”

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