BP’s annual profit more than doubled last year to an all-time high of nearly $28 billion, extending a record run of earnings for the world’s oil majors that is fueling calls for higher taxes on the windfall gains. The British energy company also announced Tuesday that it would invest more in oil and gas over the course of this decade while reducing its carbon emissions by less than previously planned.BP said in a statement that underlying replacement cost profit rose to $27.7 billion in 2022 from $12.8 billion the previous year. The metric is a key indicator of oil companies’ profitability. The profits top the company’s previous annual record of $26.3 billion, achieved in 2008.
records are made to be broken, it would be great to help them out in the future.
EXR Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
