“LONDON, Feb 8 (Reuters) – BP reported on Tuesday a profit of $12.8 billion in 2021, the highest in eight years, as natural gas and oil prices soared and the global economy recovered from the pandemic slump.”
“In the fourth quarter of 2021, BP’s underlying replacement cost profit, the company’s definition of net earnings, reached $4.1 billion, exceeding analysts’ expectations for a $3.93 billion profit.
That compares with $3.32 billion in profit in the third quarter and $115 million a year earlier.”
Of course they get record profit, at this record prices that aren’t capped cause we love the free market
Windfall tax, please.
(These are more words to keep automod happy even though my statement needs no further expansion.)
What frustrates me more than the unchecked profits is the emerging greenwashing that major oil firms have engaged in recently.
“We contribute 70% of climate pollutants through our extraction, refinement processes, supply chain and distribution network, but it’s okay, we won’t talk about this, look at this shiny wind farm we helped pay for, sort of”
So Sunak doesn’t want to tax the fuel industries because it might scare off investors.. surely with £9 billion profit in one year, they should be the investor not the investee.
All these profits are going to be reinvested right? Right Sunak???
Record profits year on year for the mega-corporations directly responsible for destroying our planet while the actual people get poorer with each second that passes & are told “there’s no money for raises” constantly.
Something needs to be done.
Carbon tax! Some of those profits are due to implicit subsidies when we let them fuck up the air, let’s make them pay for it.
Then distribute the cash to all those affected by those emissions, i.e. everyone.
Good for them. A lesson for all of us if we tighten our belts and put the work in.
I thought they were struggling with getting the gas to sell?
Yeah, because I’m paying £1.50 per fucking liter every fucking week.
Of course they do…
It’s not even a surprise anymore. Feels like we all know how much we’re being fucked over for big company profit.
Time to rethink the subsidies for fossil fuels.
It’ll save the taxpayer huge sums of money and force these companies to more quickly transition their business models.
Lets not forget bringing the country to a standstill because they didnt want for fork out on more drivers
All the oil companies making hella’ bank off that last fuel scare, where the prices have stayed btw. Oh energy is going up btw, new records in 2023 to come.
They’ll be lowering the price of petrol now, then, right?
About time we all boycotted Shell and BP!
Pure greed (shakes fist!) .
The UK is the only country BP operates in that it isn’t required to pay tax.
So fuck BP and fuck the tories.
Maybe this will make people realise the government doesn’t care about families that can’t feed their children. /Doubt
Well that must be nice for them, I’m glad they are doing well while the rest of the country sees epic inflation and cost of living expenses
Just another week in the UK.
Record profits year on year. Meanwhile I made £30 this month after everything was paid out.
Just kill me. They’ll never be taxed and ill be hounded for every penny. Im done with this.
Ah. Strange. A few weeks ago when discussing how high prices had remained, I was assured very passionately by another Reddit or that these high costs are due to supply and demand, and that these companies were working with very tight profit margins because of the wholesale price of oil. Go figure, I guess they were wrong, good job I didn’t believe a word they said.
They should have been taxed heavily a long time ago, ringfencing it for green energy projects. The fossil fuels companies will never be our friends and will do all they can to rinse us for money, while destroying the planet at the same time. Sadly, we do not have the government who would do anything to that effect. The Tories will only sell us out quicker.
Well of they did. That “fuel shortage” bullshit that the media just blasted and made people panic, they upped prices and since that panic prices have either stayed there or gone up a tiny bit. They can go fuck themselves. I filled up the other day, 33 litres cost me nearly £50! Imagine all the self employed traders with vans darting around etc they’re being taken advantage of the most I feel
I wish this led to more people realising they don’t need to play this game and that most journeys under 10 miles can be done without petrol. After this nonsense has passed there’s a longterm smaller demand, Sadly we are too attached to our cars and they will always win
Minimum wage should be based off company profits. Change my mind.
How can a company like BP be allowed to pay staff the same wage as a independant coffee shop?
>BP boosts share buybacks
We’re in the middle of a minor energy crisis and they’re mostly concerned about [shareholder profits](https://i.imgur.com/FliBhsJ.jpg)
Remember when prices soared because of a ‘shortage’ and now there’s no pandemonium yet prices didn’t come back down? Yeah that’s why they have record profits…
There will be some nice cushy jobs for Tory ex-MP’s after the next election.
This is actually fucking infuriating. They have made their profits back so why in gods name am I paying £90 a week still to fill my car up?! It was £60 a full tank this time last year!
Raging.
Lots of people making assumptions in this comment thread.
Net profit can change due to BP opening more garages, garage optimisations, store purchases, etc.
Instead of net profit, a more telling figure would be gross profit, how much profit they make per litre of fuel. If this has increased, then something can be determined from whether they are artificially inflating prices or not. Net profit doesn’t show this.
BP shouldn’t be allowed to make profit the amount of damage they have done to this world
We the people keep getting hit. Were having less and less disposable income. Something has to change. Protect the rich, screw over the people.
Great news, I am so pleased the hard working executives will be justly rewarded for their efforts!
35 comments
“LONDON, Feb 8 (Reuters) – BP reported on Tuesday a profit of $12.8 billion in 2021, the highest in eight years, as natural gas and oil prices soared and the global economy recovered from the pandemic slump.”
“In the fourth quarter of 2021, BP’s underlying replacement cost profit, the company’s definition of net earnings, reached $4.1 billion, exceeding analysts’ expectations for a $3.93 billion profit.
That compares with $3.32 billion in profit in the third quarter and $115 million a year earlier.”
Of course they get record profit, at this record prices that aren’t capped cause we love the free market
Windfall tax, please.
(These are more words to keep automod happy even though my statement needs no further expansion.)
What frustrates me more than the unchecked profits is the emerging greenwashing that major oil firms have engaged in recently.
“We contribute 70% of climate pollutants through our extraction, refinement processes, supply chain and distribution network, but it’s okay, we won’t talk about this, look at this shiny wind farm we helped pay for, sort of”
So Sunak doesn’t want to tax the fuel industries because it might scare off investors.. surely with £9 billion profit in one year, they should be the investor not the investee.
All these profits are going to be reinvested right? Right Sunak???
Record profits year on year for the mega-corporations directly responsible for destroying our planet while the actual people get poorer with each second that passes & are told “there’s no money for raises” constantly.
Something needs to be done.
Carbon tax! Some of those profits are due to implicit subsidies when we let them fuck up the air, let’s make them pay for it.
Then distribute the cash to all those affected by those emissions, i.e. everyone.
Good for them. A lesson for all of us if we tighten our belts and put the work in.
I thought they were struggling with getting the gas to sell?
Yeah, because I’m paying £1.50 per fucking liter every fucking week.
Of course they do…
It’s not even a surprise anymore. Feels like we all know how much we’re being fucked over for big company profit.
Time to rethink the subsidies for fossil fuels.
It’ll save the taxpayer huge sums of money and force these companies to more quickly transition their business models.
Lets not forget bringing the country to a standstill because they didnt want for fork out on more drivers
All the oil companies making hella’ bank off that last fuel scare, where the prices have stayed btw. Oh energy is going up btw, new records in 2023 to come.
They’ll be lowering the price of petrol now, then, right?
About time we all boycotted Shell and BP!
Pure greed (shakes fist!) .
The UK is the only country BP operates in that it isn’t required to pay tax.
So fuck BP and fuck the tories.
Maybe this will make people realise the government doesn’t care about families that can’t feed their children. /Doubt
Well that must be nice for them, I’m glad they are doing well while the rest of the country sees epic inflation and cost of living expenses
Just another week in the UK.
Record profits year on year. Meanwhile I made £30 this month after everything was paid out.
Just kill me. They’ll never be taxed and ill be hounded for every penny. Im done with this.
Ah. Strange. A few weeks ago when discussing how high prices had remained, I was assured very passionately by another Reddit or that these high costs are due to supply and demand, and that these companies were working with very tight profit margins because of the wholesale price of oil. Go figure, I guess they were wrong, good job I didn’t believe a word they said.
They should have been taxed heavily a long time ago, ringfencing it for green energy projects. The fossil fuels companies will never be our friends and will do all they can to rinse us for money, while destroying the planet at the same time. Sadly, we do not have the government who would do anything to that effect. The Tories will only sell us out quicker.
Well of they did. That “fuel shortage” bullshit that the media just blasted and made people panic, they upped prices and since that panic prices have either stayed there or gone up a tiny bit. They can go fuck themselves. I filled up the other day, 33 litres cost me nearly £50! Imagine all the self employed traders with vans darting around etc they’re being taken advantage of the most I feel
I wish this led to more people realising they don’t need to play this game and that most journeys under 10 miles can be done without petrol. After this nonsense has passed there’s a longterm smaller demand, Sadly we are too attached to our cars and they will always win
Minimum wage should be based off company profits. Change my mind.
How can a company like BP be allowed to pay staff the same wage as a independant coffee shop?
>BP boosts share buybacks
We’re in the middle of a minor energy crisis and they’re mostly concerned about [shareholder profits](https://i.imgur.com/FliBhsJ.jpg)
Remember when prices soared because of a ‘shortage’ and now there’s no pandemonium yet prices didn’t come back down? Yeah that’s why they have record profits…
There will be some nice cushy jobs for Tory ex-MP’s after the next election.
[BP spent $10 280 000 000 exploring for oil and gas last year.](https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2020.pdf) They spent 15 times less on renewable investment. They are lying to you when they say they are leading the energy transition.
This is actually fucking infuriating. They have made their profits back so why in gods name am I paying £90 a week still to fill my car up?! It was £60 a full tank this time last year!
Raging.
Lots of people making assumptions in this comment thread.
Net profit can change due to BP opening more garages, garage optimisations, store purchases, etc.
Instead of net profit, a more telling figure would be gross profit, how much profit they make per litre of fuel. If this has increased, then something can be determined from whether they are artificially inflating prices or not. Net profit doesn’t show this.
BP shouldn’t be allowed to make profit the amount of damage they have done to this world
We the people keep getting hit. Were having less and less disposable income. Something has to change. Protect the rich, screw over the people.
Great news, I am so pleased the hard working executives will be justly rewarded for their efforts!