Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Comment An icon of a speech bubble. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. Linked In An icon of the Linked In logo. Magnifying Glass An icon of a magnifying glass. Menu An icon of 3 horizontal lines. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape.

first quarter

Markets

BP profit beats estimates as refining offsets oil’s plunge

BP Plc reported first-quarter profit that was more than double analysts’ estimates as earnings from refining and trading offset lower crude prices. The first results this year from the world’s largest oil companies demonstrate the protection against lower prices gained from processing and selling fuel. France’s Total SA also reported better-than-expected earnings today. BP Chief Executive Officer Bob Dudley is setting the company up for a longer period of low oil prices by slashing spending, reviewing new projects and selling assets. Today’s results will help ensure he can maintain dividend payments until prices recover. “We are resetting and re-balancing BP to meet the challenges of a possible period of sustained lower prices,” Dudley said in the statement. “The dividend is the first priority within our financial framework.”