BP's earnings more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia's invasion of Ukraine. 9News
Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, jumped to $US8.15 billion from $US3.32 billion in the same period last year, BP said on Tuesday. The company also announced plans to reward shareholders, buying back another $2.5 billion of stock.
US President Joe Biden also has floated the possibility of a windfall tax if energy companies don't boost domestic production, accusing them Monday of "war profiteering".
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