BP narrowly misses full year production target

BP’s fourth-quarter trading statement brought mixed news on Wednesday. Annual production rose 4 per cent year-on-year to more than 4m barrels of oil equivalent a day.
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The UK oil group said oil and gas from its share of the TNK-BP operations rose by a healthy 34 per cent year-on-year to 965,000 barrels a day. However, increases in export duty from Russia were expected to cut operating profit by $170m relative to the third quarter.

FT
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App. 25% of BP output now comes from TNK