BP has reported that its profits have almost tripled in the most recent financial quarter, as oil and gas prices have soared.
The oil giant made £7.1bn ($8.15bn) over the period, with prices exacerbated by the ongoing Russian invasion of Ukraine. The increase is far higher than many analysts anticipated, and BP say they expect to pay £700m ($800m) in UK windfall tax this year, following the government's introduction of the levy.
BP boss Bernard Looney said the company is 'focused' on 'helping to solve the energy trilemma' - secure, affordable and lower carbon energy. He added that BP is in a transition period with the aim of moving to lower carbon energy.
