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The Independent UK
The Independent UK
National
Holly Williams

BP swings to highest annual profit in eight years

British Petroleum
PA Wire

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 12.8 billion US dollar (£9.5 billion) underlying replacement cost profit – its preferred measure – for 2021 from losses of 5.7 billion US dollars (£4.2 billion) the previous year.

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