BP reported a $2.1bn fourth-quarter underlying replacement cost profit, the company's definition of net income, topping forecasts for $1.9bn, a survey of analysts provided by the company showed.
Fourth-quarter oil and gas production rose 18 percent from a year earlier to 2.58 million barrels of oil equivalent a day.
British oil and gas company BP (BP.L) will increase investment in the United States after the lowering of tax rates under President Donald Trump, Chief Executive Bob Dudley said on Tuesday. "And we did all this while maintaining safe and reliable operations", Dudley added.
BP said it was hit by an additional $3.18 billion of Gulf-related costs in 2017. Last week, the oil giant hadannounced that it hoped to double North Sea oil production to 200,000 barrels by 2020.
The BP CEO said the company is entering the second year of BP's five-year plan with real momentum and is increasingly confident that BP can continue to deliver growth across its business, improving cash flows and returns for shareholders to 2021 and beyond.
BP has reported a surge in profits thanks to higher oil prices and increased production as it hailed its strongest year for exploration since 2004.
The Zohr natural gas project in Egypt was counted as one of BP's shining achievements a year ago.
For the full year, production costs fell 16 percent to $7.11 per barrel.
BP Plc dodged the disappointment that afflicted other oil-company earnings as it did a better job of exploiting the upswing in crude prices. It does expect long-term earnings to benefit from the reduction in USA federal corporate tax to 21% from 35%. BP said it expects capex to be within a range of USD15.00 billion to USD16.00 billion in 2018.
Dividend per share remains at 10 cents.
BP would generate profit in 2018 at an oil price of $50 a barrel, chief financial officer Brian Gilvary said, as years of spending cuts kicked in and as it slowly shakes off a $65bn bill for penalties and clean-up costs of the 2010 spill.
WEDNESDAY NIGHT: Damp early with a bit of leftover rain and drizzle, then some clearing late; watch for a rapid freeze up. Gusty north to northwest winds will bring some blowing and drifting snow, which may reduce visibility values.
A Winter Weather Advisory has been issued for parts of Maryland as wintry precipitation is expected Sunday . We may also see another batch of light snow pass through late Tuesday night into Wednesday .
The seventh one was killed in a YPG attack on the border, without giving further details. "There is not much to go", he said. But the YPG has been working closely with the United States to fight the Islamic State extremist group in Syria.
Along with the wonderful acting and storytelling, Black Panther soars in regards to costumes, production design and soundtrack. The film was voted the most-anticipated solo movie debut of 2018 and the second-most-anticipated movie of the year overall .
Some of the firms that won in previous auctions have made big finds, adding over 2 billion barrels of oil equivalent to reserves. Qatar Petroleum has won exploration rights in 5 offshore blocks in Mexico .
Mining is a process of solving mathematically complex problems that serve to verify the transactions of cryptocurrency coins. The ASICS market is dominated by China's Bitmain and Canaan Creative, both of which work with Taiwanese giant TSMC .
India is leading on this series by 2-0, and they are just one step away from winning their first ODI series in South Africa . The win meant India picked up two points towards the ICC Women's Championship in their first game.
People around the country can knit and crochet red hats for babies born in February to empower moms to live heart-healthy lives. For more heart and stroke statistics, visit the American Heart Association's Heart and Stroke Statistics page.
Steele's contacts with the Federal Bureau of Investigation or other government agencies prior to the 2016 election?". This memo, though, will instantly be subjected to the same partisan division as the Steele dossier.
Suddenly they were attacked & were injured, one boy managed to flee while the other was admitted to the hospital by police. According to police, five labourers were apparently returning from the mosque when they had a quarrel with two locals.
The company said it expects revenue in the range of $2.57 billion to $2.61 billion for the fiscal first quarter. Analysts on average were expecting earnings of 52 cents per share, according to Thomson Reuters I/B/E/S.
Indianapolis Colts Hire New Head Coach
The Colts likely want that same success with Andrew Luck , who was sidelined with a shoulder injury for the entire 2017 season. He was sacked during his second year with the Denver Broncos , with whom he posted an 11-17 mark during the 2009-10 seasons.
Death of 8-year-old girl in Queens deemed flu-related
Among the most vulnerable patients during flu season are senior citizens, children and those with chronic medical conditions. That's the message New Yorkers need to know from the New York City Emergency Management Department's latest podcast series.
Formula E unveils its next-gen all-electric race auto
New body panels cover the wheels and the auto has a large diffuser at the back which generates aerodynamic grip at high speeds. The fully-electric series is now in its fourth season and has used the same single-make chassis since its inception in 2014.
Saudi-led coalition calls for immediate ceasefire in Aden
Violence reportedly erupted on Sunday after forces loyal to the STC seized the government's headquarters in the coastal city. Aden residents claimed that the STC fighters overpowered Hadi's forces in central Aden's Crater and Tawahi districts.