Published: Wed, February 07, 2018
Markets | By Noel Gibbs

BP share price: Group's annual profits surge as oil price recovers

BP share price: Group's annual profits surge as oil price recovers

Underlying replacement cost profit was $2.1B for Q4 and $6.2B for the full year, compared with $400M and $2.6B for the year-ago quarter and FY 2016, respectively.

Despite the strong start to oil prices, which reached a three-year high in January, Gilvary said he expected prices to come down to $50-$55 a barrel by the end of this year. The group also said that 2017 saw a reduction in the number of process safety events for the fifth year running.

"We delivered operationally and financially, with very strong earnings in the Downstream, Upstream production up 12 percent, and our finances rebalanced", Bob Dudley was quoted as saying in a press release. And we did all this while maintaining safe and reliable operations. The results come after the FTSE 100 group, whose performance has been pressured by costs related to the Gulf of Mexico oil spill, became the first European oil and gas major to resume share buybacks past year. On an annual basis, BP's profits soared to $6.2bn from $2.6bn in 2016.

Q for solution of Kashmir issue as per United Nations resolutions
The Pakistani ambassador added, "Recently, the Indian forces have employed new tactics [against the Kashmiris] ..., blinding thousands of innocent civilians by pellet guns".


Operational reliability was high, with refining availability and Upstream BP-operated plant reliability* both 95%.

Seven new major projects delivered, boosting oil and gas production.

BP invested $90 billion in the United States over the past decade, excluding $65 billion in fines and clean up costs over the 2010 Deepwater Horizon disaster, making it the country's biggest investor in the energy sector, Dudley said.

First Industrial Realty Trust, Inc. (FR) EPS Estimated At $0.40
Firm's net income measured an average growth rate of -16.60%. (NYSE:CDR) has "Hold" rating given on Wednesday, August 12 by Zacks. It increased, as 44 investors sold DLR shares while 119 reduced holdings. 18 funds opened positions while 50 raised stakes.


By 2021 the oil giant anticipates the addition of 900,000 barrels per day, a 35 percent increase on their average 2015 portfolio. Oil and gas realizations were 25% higher.

BP was added about 1-billion of barrels of oil equivalent to its reserves in 2017, the largest since 2004, thanks to six discoveries, including in Senegal and the North Sea.

Dividend per share remains at 10 cents.

Amtrak train on wrong track in fatal S. Carolina crash
Amtrak declined to comment on what safety measures it's taking to prevent deadly derailments in the future. A passenger train collided with a freight train in the USA state of SC , killing at least two people.


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