BP underlying profits soar to 10-year high of $6.2bn amid mounting calls for energy windfall tax

The Independent says BP has recorded its highest underlying profits for more than a decade after oil and gas prices soared.

BP underlying profits soar to 10-year high of $6.2bn amid mounting calls for energy windfall tax

The Independent says BP has recorded its highest underlying profits for more than a decade after oil and gas prices soared.

The oil giant doubled its underlying replacement cost profits from $2.6billion (£2.1billion) a year ago to $6.2billion (£5billion), beating analyst’s expectations.

Analysts had expected BP to report first-quarter profit of $4.5billion, according to Refinitiv.

The record underlying profits come despite BP posting a quarterly loss after taking a mammoth £25.5 billion (£20.4 billion) hit following its move to quit Russia.

https://www.independent.co.uk/business/bp-underlying-profits-oil-prices-crude-b2070298.html

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