BP’s third-quarter profits rose to a five-year high, boosted by higher oil prices as the $10.5 billion acquisition of BHP Billiton’s U.S. shale business was set to complete this week. Graphic: BP Third-Quarter Profits – tmsnrt.rs/2P25Zqn BP reported on Tuesday that profit had more than doubled in the third quarter. Underlying replacement cost profit, the company’s definition of net income, rose to $3.8 billion, far exceeding forecasts of $2.85 billion based on a company-provided survey of analysts. That compared with a profit of $1.86 billion a year earlier and $2.8 billion in the second quarter of 2018. “Operations are running well across BP and we’re bringing new, higher-margin barrels into production faster through efficient project execution,” Chief Executive Officer Bob Dudley said in a statement. Oil and gas […]