Oil and natural gas giant BP has beat expectations with earnings of $3 billion in the last three months of 2023. London-based BP reports its underlying replacement cost profit is down from $3.3 billion in the previous quarter. It brought in $13.8 billion for all of last year, halving the $27.7 billion it earned in 2022, […]
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BP earned $3 billion at end of 2023, but annual profit fell sharply
Oil and natural gas giant BP has beat expectations with earnings of $3 billion in the last three months of 2023. London-based BP reports its underlying replacement cost profit is down from $3.3 billion in the previous quarter. It brought in $13.8 billion for all of last year, halving the $27.7 billion it earned in 2022, when Russia’s war in Ukraine sent oil and natural gas prices surging. Those prices drove inflation and contributed to a cost-of-living crisis.