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BP doubles earnings

The oil giant delivered a strong 2018 performance despite a declining oil price at the end of the year.

Photo: Aker BP

UK oil company BP emerged from 2018 in top form, shows the company's annual report published today. The oil giant booked a USD 12.7 billion bottom line, more than double the 2017 result. BP says the result is attributed to higher "realizations" of the produced oil and gas, while underlying production is increasing due to larger volumes from new projects, and a general boost in all business units.

BP's profits come after a 2018 revenue of USD 298.7 billion relative to USD 240 billion in 2017.

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