LONDON—BP reported on Tuesday a record profit of $28 billion for 2022 and hiked its dividend, but infuriated climate activists by rowing back on plans to slash oil and gas output and reduce carbon emissions by 2030.
The blockbuster profit follows similar reports from rivals Shell, Exxon Mobil, and Chevron last week after energy prices surged in the wake of Ukraine’s war, prompting new calls to further tax the sector as households struggle to pay energy bills.
