BP posts Q3 profits of $5.1bn

BP boss Bob Dudley said today that the embattled oil giant had reached a “definite turning point” following last year’s Gulf of Mexico disaster as he revealed a boost to third-quarter profits.

BP reported replacement cost profit of $5.14bn (€3.66bn) for the three months to September, compared with €1.8bn in the same period last year when BP was hit by heavy charges for cleaning up the Gulf spillage.