Oil giant BP has swung to a mammoth 12.8 billion US dollar (£9.5 billion) annual profit after notching up more than 4 billion US dollars (£3 billion) in the final three months of the year alone.
The group reported an underlying replacement cost profit – its preferred measure – of 4.07 billion US dollars (£3.01 billion) for the three months to the end of December, up from 115 million US dollars (£85.1 million) a year earlier.
It helped drive BP to the hefty profit haul overall for 2021, which comes after it slumped to its biggest annual loss in 2020, when it tumbled into the red by 18.1 billion US dollars (£13.4 billion) on a statutory basis.
