BPs Q4 Lubricants Profits Up

BPs lubricants business reported an underlying replacement cost profit before interest and tax of $375 million for the fourth quarter, up 5 percent from $357 million a year earlier; and almost $1.48 billion for 2017, down 2.6 percent from $1.52 billion in 2016. The result for the quarter and full year reflects growth in premium brands and growth markets, offset by the adverse lag impact of increasing base oil prices, the London-based company stated in its stock exchange announcement Feb. 6. Replacement cost profit reflects the replacement cost of supplies.