BP confirms $25.5B hit in results 

LONDON-traded oil and gas major BP on Tuesday reported first-quarter profits and boosted share buybacks, despite posting a massive loss after divesting its nearly 20% stake in Russian-controlled oil company Rosneft due to the ongoing war in Ukraine.

BP confirms $25.5B hit in results  BP confirms $25.5B hit in results  BP confirms $25.5B hit in results  BP confirms $25.5B hit in results  BP confirms $25.5B hit in results 

Bernard Looney, speaking on results day

BP's first-quarter underlying replacement cost profit, used as a proxy for net profit, increased to its highest level in more than a decade, coming in at US$6.