BP became the latest oil giant to post a record annual profit last year, joining peers on both sides of the Atlantic in capitalizing on soaring energy prices
LONDON— BP PLC became the latest oil giant to post a record annual profit last year, joining peers on both sides of the Atlantic in capitalizing on soaring energy prices.
On Tuesday, the London-based company said its fourth-quarter underlying replacement-cost profit—a metric similar to the net income that American oil companies report—was $4.8 billion. That slightly lagged behind the $5 billion forecast in a consensus estimate of 28 analysts compiled by the company and compared with $4 billion in the year-earlier period.
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