BP Slammed For $5-B Profits In 1st Qtr Due To High Prices

Oil and gas giant BP has reported strong profits for the beginning of the year as energy prices remain high, BBC News reported.

Photo Insert: Bumper profits from energy firms have led to calls for them to pay more tax with households facing high bills.

Profits hit $5 billion (£4 billion) in the first three months of the year, although this was down from $6.2 billion last year with oil prices having fallen from the peak seen after Russia's invasion of Ukraine.

Bumper profits from energy firms have led to calls for them to pay more tax with households facing high bills. Labor and the Liberal Democrats called for changes to the windfall tax.

Labor leader Sir Keir Starmer called for a "proper" windfall tax on energy profits.

Liberal Democrat leader Ed Davey said: "These eye-watering profits are a kick in the teeth for all those struggling to pay their energy bills."

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