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.
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