Oil and Gas: BP reports increased profits

BP has reported profits of 11.38 billion US dollars for the half year to the end of June, up from 10.47 billion US dollars last year.

Profits for the second quarter came in at 6.12 billion US dollars ahead of City forecasts, compared with 4.98 billion US dollars for the same period last year.

A results statement from the firm made no reference to the retirement of BP's chief executive Lord Browne.

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