Oil giant BP saw its profits rise to just under $5billion (£4bn) for the first three months of the year as the company benefited from high energy prices. The profits were half a billion pounds higher than forecasts expected.
Between January and March 2023 the company made underlying replacement cost profit of just under $5bn. The figure was the second-highest result BP has reported in 10 years and was beaten only by its profit last year when energy prices were extremely high.
Bernard Looney, BP's CEO, said: “This has been a quarter of strong performance and strategic delivery as we continue to focus on safe and reliable operations.”
