BP rakes in quarterly net profit of $8.2 billion after price surge

BP’s natural gas division racked up an ‘exceptional’ third quarter, with sales more than tripling after prices for the fuel soared in Europe.

The firm more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion.

The result helped BP post its second-highest quarterly profit on record.

London-based BP joins rivals including Shell, ExxonMobil and TotalEnergies that also saw the sector pay out a record $29 billion to shareholders.

BP said it expects to pay around $2.5 billion in taxes on its British North Sea business this year, including $800