BP sees biggest profit in 114-year history after oil and gas prices soaron February 7, 2023 at 8:07 am

Oil and gas giant BP has seen its annual profits more than double after energy prices surged last year following Russia’s invasion of Ukraine.

Its profits jumped to $27.7bn (£23bn) in 2022, compared with $12.8bn the year before.

Other energy firms have seen similar rises, with Shell reporting record profits of nearly $40bn last week.

The profits have led to calls for energy firms to pay more tax with households facing rising bills.