The group said it swung out of the red with replacement cost profits of 1.4 billion US dollars (£1.1 billion) for the first quarter against losses of 485 million US dollars (£377 million) a year earlier.
A bounce back in oil prices saw Brent crude stand around 58% higher than a year earlier in the first quarter, at around 53.69 US dollars a barrel.
Bob Dudley, group chief executive of BP, said the year had “started well” for the group.
He added: “BP is focused on the disciplined delivery of our plans.First quarter earnings and cash flow were robust.”
On an underlying basis, BP nearly trebled replacement cost profits to 1.5 billion US dollars (£1.2 billion) from 532 million US dollars (£413 million) a year earlier.
The better-than-expected figures came after BP said it saw a 5% rise in production, boosted as the first of a raft of new projects came on stream.
Mr Dudley said: “The first of our seven new upstream major projects has started up, with a further three near completion.
“We expect these to drive a material improvement in operating cash flow from the second half.”
The figures follow impressive earnings reports from US rivals ExxonMobil and Chevron last week as the industry benefits from a bounce back in crude prices, which had hit near 13-year lows early last year.
BP’s closest rival, Royal Dutch Shell, is also expected to post a leap in profits when it reports on Thursday.
First quarter figures from BP come after it revealed last month it had slashed Mr Dudley’s 2016 pay package by 40% and cut his maximum earnings by 3.7 million US dollars (£2.9 million) to see off a fresh shareholder rebellion.
Its annual report showed Mr Dudley’s pay package was cut to 11.6 million US dollars (£8.5 million) as the group looked to avoid a repeat of last year’s investor revolt, when almost 60% of BP shareholders voted against his 20% pay hike.