BP Profit Beats Estimates Even as Oil-Spill Fines Boost Debt

 

BP Plc capped a shaky Big Oil earnings season on a more upbeat note, as shareholders reacted positively to the highest profit in years even as the continuing burden of oil-spill payments pushed debt higher.

The results show how investors in the London-based company are feeling the effects of two life-altering events. BP is still paying its way through the more than $65 billion of penalties following the fatal Deepwater Horizon catastrophe in 2010. Yet they’re also seeing some benefits from rising crude prices after a three-year industry downturn.

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