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IS - BP Q2 net flat at $2.8B; decisions made on GOM, Angola & India - August 2019
BP announced underlying replacement cost profit, its preferred reporting metric that is similar to net income, was $2.8 billion in Q2, flat YOY. Underlying RC upstream profit in Q2 was $3.4 billion, down 3% YOY, but the company reported generally solid performance, with 4% higher production YOY at 3.8 MMboe/d and four new startups this year, including Culzean in the North Sea. Operating cash flow, excluding Gulf of Mexico oil spill payments, was $8.2......
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