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BP Plc Q1 Profit Rises - Quick Facts

BP Plc (BP.L,BP_UN.TO,BP) reported first-quarter profit before tax of $3.91 billion compared to $2.11 billion, prior year. Profit to shareholders was $2.47 billion, compared to $1.45 billion. Earnings per ordinary share in cents was 12.33 compared to 7.38. Earnings per ADS increased to $0.74 from $0.44. First-quarter underlying replacement cost (RC) profit was $2.59 billion, compared to $1.51 billion, last year, mainly due to higher profits in Upstream, partially offset by a higher tax charge. Underlying RC profit per ordinary share in cents was 12.98 compared to 7.74. Underlying RC profit per ADS was $0.78 compared to $0.46.

First-quarter sales and other operating revenues increased to $68.17 billion from $55.86 billion, a year ago. Reported oil and gas production was 3.7 million barrels of oil equivalent a day in the quarter, 6% higher than the first quarter of 2017. Upstream production, excluding Rosneft, was 9% higher, supported by continued ramp up of major projects.

BP announced a quarterly dividend of 10.00 cents per ordinary share ($0.600 per ADS), which is expected to be paid on 22 June 2018.

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