BP records highest profit in eight years in 2021

LONDON: BP reported on Tuesday a profit of $12.8 billion in 2021, the highest in eight years, as natural gas and oil prices soared and the global economy recovered from the pandemic slump.

BP's underlying replacement cost profit, the company's definition of net earnings, reached $4.1 billion in the fourth quarter of 2021, exceeding analysts' expectations for a $3.93 billion profit.