BP profits show signs of recovery

Posted online February 7, 2017 | 12:33 pm

Oil giant BP doubled its profits in the fourth quarter as the company cut costs and oil prices moved up slightly higher.

Profits rose to $400 million from $196 million a year earlier.

For 2016, underlying replacement cost profit — which does not include fluctuations in the value of oil stocks — dropped to $2.6 billion from $5.9 billion in 2015.

Read more from BBC News.

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