BP reported stronger than expected full-year forecast on Tuesday, with a strong operating profit in all business segments.
Shares in BP rose to the top of the European benchmark Tuesday morning, up over 3 percent.
BP's fourth quarterly result jumped over 65 percent compared to the same period in 2017, following a sharp increase in oil and gas production and acquisitions of BHP's US Shale assets.
Here are the key events:
- The underlying replacement price result came in at $ 3.5 billion in the last three months of 2018. It compares to $ 2.1 billion over the same period in 2017.
- Return on average employed Capital was 11.2 per cent compared to 5.8 per cent in 2017.
- Dividend of 10.25 cents per share announced for the fourth quarter – 2.5 per cent higher than the year before.
] Market participants saw huge gains in energy departments during the first nine months of 2018 extensively eradicated by a dramatic decline in raw futures in the fourth quarter.