bp records doubling in 2022 profits despite Q4 dip


Gas and low carbon energy contributed more than half to bp’s $27.6bn (£23bn) profits in 2022 as the energy giant capitalised on soaring energy prices.

Gas and low carbon totalled $16,063bn for the year, itself a doubling of the 2021 performance ($7,528bn).

In low carbon energy bp has continued to make rapid progress building its portfolio of green hydrogen projects, signing memorandums of understanding (MoUs) with Mauritania and Egypt to explore the potential for large scale green hydrogen developments.

However Q4 profits dropped to $4.8bn, compared with $8.2bn for the previous quarter, as a result of below average gas marketing and trading and lower oil and gas realisations.

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