 in profits for July to SeptemberBP has revealed that underlying profits more than doubled on last year, as Brits struggle with soaring energy costs. The London-listed oil giant reported that underlying replacement cost profits - a measure preferred by BP - for July to September surged to £7.1billion ($8.2 billion), compared with £2.9billion ($3.3 billion) a year earlier. It was significantly ahead of the £5.3 billion ($6.1billion) expected by market analysts. Nevertheless, BP said profits were weaker than the previous quarter after a dip in average oil price. Bernard Looney, chief executive officer of BP, said: "This quarter's results reflect us continuing to perform while transforming. "We remain focused on helping to solve the energy trilemma - secure, affordable and lower carbon energy. "We are providing the oil and gas the world needs today - while at the same time investing to accelerate the energy transition. "Our agreement on Archaea Energy is the most recent step in our strategic transformation of BP." We'll be bringing you the very latest updates, pictures and video on this breaking news story. Please check back regularly for updates on this developing story HERE . Get email updates on the day's biggest stories straight to your inbox by signing up for our newsletters . Get all the big headlines, pictures, analysis, opinion and video on the stories that matter to you by following The Mirror every time you see our name. Follow The Mirror on Google News - CLICK HERE and click the star Follow The Mirror on Apple News - CLICK HERE available on Apple devices Follow The Mirror on Flipboard - CLICK HERE and click follow You can sign up for Twitter alerts for breaking news here @MirrorBreaking_ and follow us @DailyMirror , for all the latest updates. Keep up-to-date with your must-see news, features, videos and pictures throughout th){kind=link}
The London-listed oil giant reported that underlying profits surged to £7.1billion ($8.2 billion) for July to September, compared with £2.9billion ($3.3 billion) a year earlier
BP has revealed that underlying profits more than doubled on last year, as Brits struggle with rocketing energy costs.
The London-listed oil giant reported that underlying replacement cost profits – a measure preferred by BP – surged to £7.1billion ($8.2 billion) for July to September.
This is compared with £2.9billion ($3.3 billion) a year earlier.
It was significantly ahead of the £5.3 billion ($6.1billion) expected by market analysts.