Yet again, another energy corporation declares record profits.
BP has reported record annual profits after oil and gas prices surged last year following Russia’s invasion of Ukraine with the company’s profits more than doubling to $27.7bn (£23bn) in 2022, compared with $12.8bn the year before.
After Russia’s invasion of Ukraine led to bumper profits it also fuelled a rise in energy bills for households and businesses.
BP also announced a 10% increase to its quarterly dividend and said it would spend a further $2.75bn buying back its own shares.
BP profits rise to £23bn, adding fuel to calls for toughened windfall tax | BP | The Guardian