LNG

UK major BP has reported its highest profit in eight years in the fourth-quarter earnings statement amid volatile forward natural gas prices during 2021 and said it was “performing while transforming” and investing in only “focused” hydrocarbon ventures like a field recently brought on stream in Angola.

UK major BP reported a loss for the third quarter of $2.5 billion, explained as the accounting effects of liquefied natural gas risk management, compared with a $3.1Bln profit for the previous 2021 quarter and $450M of losses posted in the same three months of 2020.