British energy giant BP has posted strong quarterly profit numbers even as energy prices...
British energy giant BP has posted strong quarterly profit numbers even as energy prices that soared after Russia’s war in Ukraine last year have eased off.LONDON — British energy giant BP posted a strong quarterly profit on Tuesday even as oil and natural prices that soared after Russia's war in Ukraine last year have eased off.
“This has been a quarter of strong performance and strategic delivery,” CEO Bernard Looney said in a statement. The latest profit numbers were lower than the $6.2 billion BP posted in the first quarter of 2022 but still beat analyst expectations even as oil and gas prices have declined since spiking in the first half of last year.
The company also has come under fire recently for scaling back its climate goals — watering down its targets for reducing greenhouse gas emissions by a third, while planning to pump more more oil and gas by the end of the decade than it previously forecast.
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