BP sees huge profit due to high oil and gas prices

BP has reported a huge profit for July to September due to high oil and gas prices exacerbated by Russia's invasion of Ukraine. The oil giant made $8.2bn for the period, more than double the profit over the same three months last year. BP said it expected to pay $800m in UK windfall tax this year, a levy introduced by the government in May. The windfall tax - introduced by Rishi Sunak - applies to profits made from extracting UK oil and gas. BP's profit for the quarter was much higher than analysts had expected, but dipped from the previous three months due to a fall in the wholesale price of oil. "We are providing the oil and gas the world needs today - while at the same time investing to accelerate the energy transition," he said.

Read the full story

 Related companies

Make a complaint about BP by viewing their customer service contacts.

•