Company swings to $12.8bn profit from loss of $5.7bn the year before as it cashes in on gas and oil price hikes
Highlights
- BP’s Bernard Looney dismissed calls for a windfall tax on fossil fuel companies.
- FTSE 100 oil giant swung to a profit of $12.8bn (£9.45bn) for last year, from a loss of $5.7bn the year before.
- BP’s profits for the final quarter of last year leapt 35-fold to $4.1bn, from $115m in the same period last year.
- Shell’s Ben van Beurden said he was ’not convinced that windfall taxes, popular though as they seem, will help us with supply, nor is it helping us with demand’ British households are braced for one of the steepest energy tariff hikes on record this April.