BP Posts First Quarterly Loss in More Than a Year

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LONDON—BP PLC posted its first quarterly loss since mid-2016 on Tuesday, largely because of charges from the 2010 Gulf of Mexico blowout and the U.S. tax overhaul, but 2017 proved its most profitable year overall since oil prices crashed.

A relatively strong set of fourth-quarter profits for BP were effectively wiped out by a nearly $1 billion paper loss related to U.S. corporate-tax changes and a $1.7 billion charge from unexpectedly high settlements from the Deepwater Horizon accident. The company recorded a $583 million…

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