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BP returns to profit in second quarter

Tuesday, August 1, 2017 - 14:50

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BP returned to profit in the second quarter, the British energy giant said Tuesday, helped by firmer oil prices and lower charges linked to the Gulf of Mexico spill disaster.

[LONDON] BP returned to profit in the second quarter, the British energy giant said Tuesday, helped by firmer oil prices and lower charges linked to the Gulf of Mexico spill disaster.

Net profit stood at US$144 million in the three months to June 30 compared with a loss after tax of US$1.4 billion in the second quarter of 2016, BP said in a results statement.

Chief executive Bob Dudley said BP would continue with a "tight focus on costs, efficiency and discipline in capital spending".

AFP

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