BP Profits Surge As High Gas Prices Hit Household Finances
Newsy
The British energy giant said its profit was $12.8 billion for 2021, compared with losses of $5.7 billion the previous year.
BP PLC reported its biggest full-year profit for eight years on Tuesday, its coffers boosted by soaring oil and gas prices that have hiked domestic fuel bills for millions of people.
The British energy giant said its underlying replacement cost profit — the industry standard — was $12.8 billion for 2021, compared with losses of $5.7 billion the previous year. The figure includes a better-than-expected $4.07 billion profit in the final quarter.
The company said it would reward shareholders with a $1.5 billion share-buyback program before its first-quarter 2022 results and a dividend payout of 5.46 cents a share for the fourth quarter.
