Oil giant BP this morning announced a 23% increase in profit for the first half of 2008, to $13.44bn (£6.75bn).
The profit, which accounts for inventory holding losses, equates to over £37m a day. BP recorded a $6.85bn profit in the second quarter, an increase on the $6.59bn seen in Q1 and the $6.49bn posted for the corresponding period last year. Oil prices have rocketed over the past year, with crude prices hitting record highs of over $145 in early July. BP ordinary shareholders will receive a 14c (7.04p) dividend for the quarter. IFAonline
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