BP Hits Record Annual Profit and Continues to Boost Dividend

On February 7, BP announced its performance for the fourth quarter and full year of 2022. Like other supermajors, the company cashed in on surging oil and gas prices, posting record profits for 2022 and boosting its dividend and share buybacks. Data showed that BP's adjusted net profit in Q4 was $4.81 billion, down from a record earlier this year and below analysts' forecast of $5.11 billion. But the full-year profit hit a record high of $27.65 billion. Adjusted earnings per ADS were $1.59 for the fourth quarter and $8.74 for the full year.