BG sees profits soar

Delivering results: LNG cargoes credited for boosted BG bottom line

Vismedia

Josh Lewis

 03 May 2012 07:56 GMT

BG Group has had a positive start to the year with profits more than doubling during the first quarter on the back of increased production and higher realised prices.

The company posted a profit of more than $1.2 billion for the three months to 31 March, compared to a profit of $597 million during the first quarter of 2011.

Revenue for the quarter was also up, with BG generating almost $5.8 billion in revenue during the March quarter, up from nearly $4.8 billion during the same period a year ago.

The positive results were due mainly to strong performance from the group’s exploration and production and liquefied natural gas business segments.

The E&P segment generated $2.8 billion in revenue and other income during…

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