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BP Plc Q1 Underlying RC Profit Declines YoY - Quick Facts

BP plc (BP.L,BP_UN.TO,BP) reported that its underlying replacement cost profit for the first quarter of 2019 declined year-over-year reflecting the weaker price and margin environment at the start of the quarter, partially offset by strong supply and trading results. BP announced a quarterly dividend of 10.25 cents per ordinary share ($0.615 per ADS), which is expected to be paid on 21 June 2019.

For the first-quarter, replacement cost or RC profit was $2.10 billion, compared to $2.39 billion. RC profit per ADS was $0.62 compared to $0.72. For the first-quarter, underlying RC profit was $2.36 billion, compared to $2.59 billion, prior year. Underlying RC profit per ADS was $0.70 compared to $0.78.

First-quarter profit to shareholders was $2.93 billion, compared to $2.47 billion for the same period in 2018. Earnings per ADS was $0.87 compared to $0.74.

First-quarter sales and other operating revenues were $66.32 billion compared to $68.17 billion, last year. Total revenues and other income declined to $67.41 billion from $69.14 billion. Reported oil and gas production for the quarter averaged 3.8 million barrels a day of oil equivalent. Upstream production, which excludes Rosneft, was 2% higher from previous year.

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