BP reported on Tuesday (February 7) a record profit of $28 billion in 2022, lifted by a surge in energy prices since Russia's invasion of Ukraine as the company increased its dividend by 10% in a sign of confidence in the market's continued strength.

BP profit soars to record $28 billion, dividend increased

The continuous surge in oil and fuel prices due to the ongoing Russia-Ukraine war impacted millions globally with people coping with a rise in the cost of living.

'Windfall of war': Energy firms report bumper profits as millions continue to struggle

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BP profit soars to record $28 billion, dividend increased

'Windfall of war': Energy firms report bumper profits as millions continue to struggle