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IS - BP’s FY19 underlying RC profit plummets 21% to $10B - February 2020

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BP reported $10 billion of underlying replacement cost profit for 2019. The metric, used as a proxy for net profit, was off 21% from the $12.7 billion reported in 2018. RC profit, without the $6.5 billion adverse impact of nonoperating items and fair value accounting effects, was $3.5 billion and total profit attributable to shareholders, which factored in a $511 million gain on inventory holding, came in at just over $4 billion. Revenue for......
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