business / news / / The Mirror
BP's profits more than doubled to almost £2.4billion in the first three months of this year on the back of a surge in the wholesale cost of oil.
BP's profits more than doubled to almost £2.4 billion in Q1 2024 due to oil price surges.
KEY POINTS
- Brent crude prices jumped from $60 to a high of $119 per barrel after Iran’s blockade.
- BP's customers and products division reported £1.84 billion profit, up from £76.2 million a year ago.
- BP CEO Meg O’Neill’s potential compensation for 2024 could reach £13.7 million.
- Ofgem's energy price cap may rise to £1,843 a year in July due to wholesale cost increases.
COMPANIES
Summarized by Newsio from The Mirror. How we summarize →