BP Earnings Hit Target
- Company added production due to new projects, BHP deal
- First quarter also buoyed by strong trading performance: CEO
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BP Plc boosted cash flow and hit the target on profit estimates in the first quarter as rising oil and gas production and strong trading results offset the effect of lower prices.
The company’s performance brightens a mixed picture for Big Oil earnings. While the industry has moved beyond the worst downturn in a generation it’s still enduring volatile markets, with a sharp slump in crude prices late last year followed by a steep rebound in the first few months of 2019.