BP earnings soar as energy firm profits from rising prices

By DANICA KIRKA
Associated Press

LONDON (AP) — BP said its earnings from April to June almost tripled from a year earlier, increasing pressure on governments to intervene as energy companies profit from high oil and natural gas prices that are fueling inflation and squeezing consumers. London-based BP said Tuesday that net income jumped to $9.26 billion in the second quarter from $3.12 billion in the same period a year earlier. It says it expects oil and gas prices to remain high due to disruptions in supply caused by Russia’s invasion of Ukraine. BP’s earnings come as energy companies worldwide scoop up record profits, including Shell, Exxon Mobil and Chevron.