BP’s record 2022 profit of £22.9 billion, announced today, could pay this year’s energy bills for a full third of all UK households.

BP today said it made £3.9 billion in the fourth quarter of 2022, resulting in a record £22.9 for the year and a 116 percentage jump over 2021 profits.

Meanwhile, millions of UK households continue to struggle with their energy bills, which are now estimated to average £2,500 in 2023. BP’s profits could cover the bills of 9 million UK households - 33 percent of the total.

Jonathan Noronha-Gant, Global Witness, Senior Campaigner, said:

“People across the country need look no further than their own front door – one of Britain’s own oil companies – which has been making records profit while so many Brits face hardship through no fault of their own. It would be good to see BP genuinely backing Britain rather than profiting off it.”

“Implementing a windfall tax to aid those struggling financially, paired with a significant increase in renewable energy and home insulation, could be the start of the end to the damaging fossil fuel era, both for people and the planet. BP is richer because you’re poorer.”

BP’s profits could also cover £10 billion that the government claims would be needed to give NHS nurses – who today have continued their efforts on the picket lines – the pay raises they demand, and still leave the company nearly £13 billion.