KEY POINTS
- “It has been another good quarter for the company,” BP CEO Bernard Looney told CNBC’s “Squawk Box Europe” on Tuesday.
- A surge in global gas markets through the final months of 2021, coupled with an oil price rally to seven-year highs, has seen the world’s largest fossil fuel giants rake in bumper revenues.
- It comes at a time when millions of U.K. households are facing a record-breaking increase in their energy bills amid a cost of living crisis.
Source: Oil giant BP reports highest profit in 8 years on soaring commodity prices
