BP profits plunge as oil prices ease

Published

12 minutes ago

Energy giant BP has reported a sharp drop in profits after oil prices fell last year.

Profits were $13.8bn (£11bn) in 2023, down from a record $27.7bn in the previous year.

Energy firms reported huge gains when oil and gas prices soared in the aftermath of Russia's invasion of Ukraine because of fears over supplies.

While households energy bills have fallen since 2022, they still remain at a high level.

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