FX.co ★ BP's net profit triples in first half of 2018

UK-based oil and gas giant BP Plc. posted $ 5.268 billion in net profit in the first half of the year, three times as much as last year.

Diluted earnings per share came in at $26.27 compared with $8.08 during the first six months of 2017. The total revenue, including revenues from joint ventures, reached $146.05 billion, an increase of 28.3%. During the reporting period, oil production increased to $3.662 million barrels of oil equivalent per day and was up 3.3% compared with the same period in 2017.

In the second quarter of 2018, BP's net profit totalled $2.799 billion, 19 times higher than in the same period last year.

Profits per share stood at $13.96 (versus $0.72 in the second quarter of 2017). Total revenue increased by 34% to $76.907 billion.

According to BP's CEO Bob Dudley, the company has once again achieved high operational and financial performance. The company intends to continue its strategy, Dudley stressed.