BP reports second highest profit in decade – By BBC News Staff (BBC News) / Feb 6, 2024
Energy giant BP has reported its second highest annual profit in more than a decade, despite it being half the level it announced in the previous year.
Profits were $13.8bn (£11bn) in 2023, down from the record $27.7bn in 2022 when oil prices soared in the aftermath of Russia’s invasion of Ukraine.
The price of oil fell back last year, which has cut profits at all energy firms.
However, BP said it was stepping up its plans to return cash to shareholders.
The results are the first released by BP since the company announced Murray Auchincloss as its new chief executive.
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