February 6, 2018 / 7:32 AM / 14 days ago

BRIEF-BP Posts Q4 Underlying Replacement Cost Profit Of $‍2.1 Billion

Feb 6 (Reuters) - BP Plc:

* Q4 UPSTREAM UNDERLYING REPLACEMENT COST PROFIT BEFORE INTEREST AND TAX $‍2,223​ MILLION VERSUS. PROFIT OF $400 MILLION

* Q4 DOWNSTREAM UNDERLYING REPLACEMENT COST PROFIT BEFORE INTEREST AND TAX $‍1,474​ MILLION VERSUS. $877 MILLION IN Q4 2016

* Q4 UNDERLYING REPLACEMENT COST PROFIT OF $‍2,107​ MILLION VERSUS. PROFIT OF $400 MILLION IN Q4 2016

* OPERATING CASH FLOW FOR 2017, EXCLUDING GULF OF MEXICO OIL SPILL PAYMENTS, WAS $24.1 BILLION, COMPARED WITH $17.6 BILLION IN 2016​

* Q4 REPLACEMENT COST LOSS OF $‍583​ MILLION VERSUS. PROFIT OF $72 MILLION IN Q4 2016

* Q4 TOTAL REVENUES AND OTHER INCOME OF $‍70,022​ MILLION VERSUS. $52,121 MILLION IN Q4 2016

* ‍DIVIDEND UNCHANGED AT 10 CENTS PER SHARE​

* Q4 REPLACEMENT COST LOSS PER SHARE OF ‍2.94​ CENTS

* Q4 UNDERLYING REPLACEMENT COST PROFIT PER SHARE OF ‍10.64​ CENTS

* Q4 UNDERLYING REPLACEMENT COST PROFIT ESTIMATE OF $1.9 BILLION - COMPANY COMPILED ESTIMATES

* WE EXPECT FULL-YEAR 2018 UNDERLYING PRODUCTION TO BE HIGHER THAN 2017 DUE TO THE RAMP-UP OF MAJOR PROJECTS

* WE EXPECT FIRST-QUARTER 2018 REPORTED PRODUCTION TO BE BROADLY FLAT WITH THE FOURTH QUARTER 2017

* LOOKING TO THE FIRST QUARTER OF 2018, WE EXPECT HIGHER DISCOUNTS FOR NORTH AMERICAN HEAVY CRUDE OIL BUT LOWER INDUSTRY REFINING MARGINS

* IN ADDITION, WE EXPECT OUR TURNAROUND ACTIVITY TO BE LOWER IN REFINING BUT SIGNIFICANTLY HIGHER IN PETROCHEMICALS

* IN 2018, WE EXPECT ORGANIC CAPITAL EXPENDITURE TO BE IN THE RANGE OF $15-16 BILLION

* INORGANIC CAPITAL EXPENDITURE FOR THE FOURTH QUARTER AND FULL YEAR WAS $0.2 BILLION AND $1.3 BILLION RESPECTIVELY

* NET DEBT RATIO AT 31 DECEMBER 2017 WAS 27.4%, COMPARED WITH 26.8% A YEAR AGO

* IN 2018, DIVESTMENTS ARE EXPECTED TO BE IN THE RANGE OF $2-3 BILLION‍​

* GEARING WAS 27.4 PCT AT THE END OF 2017, CONTINUES TO TARGET A GEARING RANGE OF 20-30 PCT‍​ Source text for Eikon: Further company coverage:

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