BUSINESS

BP Sees Mammoth Increase In Profit

BP plc, the British oil and gas company has seen its profits for the first quarter of this year more than doubled after oil and gas prices soared.

The energy company reported an underlying profit of $6.2 billion compared to $2.6 billion in the same period last year.

BP said the increase was ahead of expectations and due in part to exceptional oil and gas trading.

Rising profits have prompted calls for a one-off windfall tax on energy companies to help UK households grappling with rising bills.

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Edited by Jesus Chan

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