According to foreign media reports, oil and gas giant BP on Tuesday reported a massive upswing in full-year net profit, its highest in eight years, supported by soaring commodity prices.

    The company posted underlying replacement cost profit, used as a proxy for net profit, of $12.8 billion for 2021. That compared with a net loss of $5.7 billion the previous year. BP also posted fourth-quarter net profit of $4.1 billion, beating analyst expectations of $3.9 billion.

    “It has been another good quarter for the company,” said BP CEO Bernard Looney. “We call it performing while transforming. We are performing and delivering for our shareholders today, while at the same time leaning into the future and transforming the company.”

    About BP

    BP was founded by William Knox Darcy in 1909. Its original name was Anglo Persian Oil Company. It was changed to British Iran Oil Company in 1935 and its current name in 1954. It is one of the largest oil and Petrochemical Group Companies in the world. BP's sunflower logo is named after the ancient Greek sun god. 

    On the ranking of “The 2nd Daguan·Keweiwei World Brand Value Top 900" released on January 13, 2022, BP’s brand value was 141.111 billion RMB, ranking the 168th. 

Author:   Nan

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