As BP announces annnual earnings of $40 billion, there are growing calls for the UK government to boost taxes on companies profiting from the high price of oil and natural gas after Russia's invasion of Ukraine.
abc.net.au/news/bp-announces-record-profit-on-gas-oil-prices/101943144British energy company BP reported record annual earnings on Tuesday amid growing calls for the UK government to boost taxes on companies profiting from the high price of oil and natural gas after Russia's invasion of Ukraine.
The record profits are also increasing pressure on energy companies to do more to tackle climate change Last year's figure beat the $US26.8 billion BP earned in 2008, when tensions in Iran and Nigeria pushed world oil prices close to more than $US147 a barrel. But the good news for BP shareholders is likely to be tempered by the public fallout, particularly in its home country.
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