Today, Tuesday (February 7, 2023), the “BP” energy group announced that it has turned to a loss during the past year compared to 2021, justifying this by its exit from the Russian market following the Ukraine war.
And the British group stated – in a statement – that it recorded a net loss of $ 2.5 billion, compared to a net profit of $ 7.6 billion in 2021.
The company’s loss comes despite the improvement in global oil prices, reaching $130 a barrel in some sessions in March 2022.
The company said, “With excluding the effects of leaving Russia, our profits rose to $27.7 billion thanks to higher oil and gas prices.”
The company said last year that it had given up its 19.75% stake in Russian oil giant Rosneft because of the war on Ukraine.
On the other hand, BP updated its green strategy today, Tuesday, and was immediately accused of trying to hide the damage caused by continuing to produce fossil fuels.
“It’s time to stop digging and make polluters pay for the climate damage they’re doing around the world,” Kate Blagojevich of Green Peace UK’s Climate Justice Department said in a statement.
Energy companies are using their large profits to invest in renewables, as they face pressure from governments to become greener.
