BP's Profits Soar in 2023's Final Quarter

BP’s 2023 Finances: Fell, But the Finish Line Was Sweet

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Year‑End Takeaway

Profit check: BP’s core earnings dipped to £11 billion in 2023, a sharp 50 % cut from the £22.1 billion haul of 2022 when oil was sky‑high.

Share movement: The stock jumped 6 % on a Tuesday spotlighting better‑than‑expected final quarterly results.

Divvy‑up: Fourth‑quarter dividends were raised by 10 %, sending green‑back to shareholders.

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Management’s Spin‑off

“2023 was a year of robust operations, full of momentum across the board,” said new chief executive Murray Auchincloss.“Going forward, the goal stays the same—grow BP’s value.”

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*Critics Unleash Fire‑blast**

Campaign group Global Witness slammed BP for what it called “reckless shareholder payouts.”

Investor returns: BP gave out £12.7 billion in 2023 (≈ $10.2 bn).

The group believes these payouts could outpace the projected cost of UK natural disasters over the next seven years.

“Shareholders should guard the long‑term,” said Jonathan Noronha‑Gant, senior campaigner.“We need a rapid clean‑energy shift, but these payouts backfire.”Researcher Joseph Evans of the IPPR chimed in:
“BP opts for dividends over green investing. Fossil giants like this can’t be trusted to lead the transition—they’ll always put shareholder interest first.”

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The Bottom Line – A Mixed Verdict

BP’s once‑exhausted road never vanished; the fuel gauge hit a low, but a few bright lights turned on during Q4. Shareholders cheered the dividend hike, while environmental watchdogs tossed a fiery critique our way. Stay tuned—BP’s next moves might very well decide whether its flame burns or cools.