BP joined the group of oil companies that registered record profits in 2022. After Shell, the British oil company presented 25.7 billion euros on Tuesday, more than double the profit registered the previous year and the second largest in history.
BP, Shell, US Exxon Mobil, Chevron and France’s TotalEnergies are the five largest Western oil companies. Together, due to the war in Ukraine, which sent prices soaring, they earned almost 150 billion euros last year.
On the Portuguese side, Galp will only post earnings next week, but analysts believe the results will be in line with the global trend of record earnings.
In addition to the gains, BP also let it be known that its carbon emissions would not decline as fast as predicted. The company expects carbon emissions from oil and gas production to decline by 20-30% by 2030, instead of the 25-40% originally forecast.
“We need continued near-term investment in the current energy system, which is dependent on oil and gas, to meet current demands and ensure an orderly transition. Minimize additional emissions and maximize both the value of our energy contribution and the affordability,” he explained. BP CEO Bernard Looney.
Source: TSF
