February 6, 2018 / 7:15 AM / 2 months ago

BP's Q4 results surge on refining and trading

LONDON, Feb 6 (Reuters) - BP on Tuesday reported a surge in fourth-quarter profit, beating analysts’ expectations, supported by strong earnings in refining and trading.

BP reported fourth-quarter underlying replacement cost profit, the company’s definition of net income, of $2.1 billion, exceeding forecasts for $1.9 billion, according to a company-provided survey of analysts.

That compared with a profit of $400 million a year earlier and $1.9 billion in the third quarter of 2017.

On an annual basis, BP’s profits soared to $6.2 billion from $2.6 billion in 2016.

Full-year production rose to 2.47 million barrels per day (bpd), up some 12 percent from 2016.

Reporting by Ron Bousso, editing by Louise Heavens

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