BP earnings up

British oil company BP increased its income by 166 billion kroner in 2011, latest accounts indicate.

AV: aftenbladet.no

According to E24, Tuesday’s results show 2011 operating incomes were USD 23.9 billion (approximately 138 billion kroner), up from 2010’s 4.9 billion dollar loss (NOK 28 billion).

This gives the company increased earnings of 166 billion kroner in the course of just one year, the site reports.

Includes damages

The figures include preliminary damages of USD 8.8 billion following the Gulf of Mexico accident in 2010.

BP group chief executive Bob Dudley said in a press release, “BP is on the right path, working to grow value through the 10-point plan we laid out in October. Above all, we have a relentless focus on safety and risk management. And we are playing to our strengths – investing in exploration, deep water, gas value chains, giant fields and a world-class downstream, while actively managing our portfolio to grow value.”

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BP earnings up

Includes damages

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