Aker BP profit helped by production increase

 

zoomKarl Johnny Hersvik, Aker BP CEO

Norwegian E&P player Aker BP more than doubled its profit in the first quarter of 2017 helped by increase in production and oil prices. 

The company’s total operating income in the first quarter was $646 million, higher than the first quarter 2016 and income of $205 million mainly due to inclusion of BP Norge activities following the merger with Det norske.

Net profit for the first quarter 2017 was $69 million, after net financial items of $47 million and a tax expense of $158 million, compared to $32 million net profit in the corresponding period of 2016.

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