BP profits jump 39%

BP today said annual profits jumped 39% to $25.6bn (€27.6bn) as last year’s soaring oil prices fuelled results.

BP today said annual profits jumped 39% to $25.6bn (€19.46bn) as last year’s soaring oil prices fuelled results.

The performance came despite a profits blow in the final three months of the year, as prices retreated sharply from the record of almost $150 (€116.80) a barrel reached in July.

But BP’s profits – alongside rival Royal Dutch Shell’s European record of £22bn (€24.3bn) in profit last week – leaves the duo with a combined £40bn (€44.2bn) haul from 2008.