LONDON: BP Plc profits outperformed expectations by almost $1 billion (645 million pounds) in the first quarter of 2013 thanks in part to the high margin nature of new production that came on stream at the end of 2012 and a strong performance from its trading division.
The British oil company turned in underlying replacement cost net profit of $4.215 billion for the quarter, down from $4.65 billion a year ago, but beating analysts expectations of around $3.27 billion. - Reuters
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