icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
29 Apr, 2008 08:19

Russo-British oil major bags $US 1.5 billion profit

TNK-BP, a leading British-Russian oil producer, has boosted first quarter net profits almost fivefold, to nearly $US 1.49 billion.

BP, which owns 50 per cent of the joint venture, says its profit as a shareholder was $US 744 million.

The company considers the joint venture’s profit growth is the result of higher oil prices and deferred taxes.