Oil giant BP has posted its highest annual profit in eight years amid mounting pressure on the sector as the cost-of-living crisis deepens.
The group revealed it swung to a mammoth £9.5 billion underlying replacement cost profit - its preferred measure - for 2021 from losses of £4.2 billion the previous year.
It notched up £3.01 billion of profits in the final three months alone, which was better than expected and up from just £85.1 million a year earlier.
